https://www.techspot.com/news/91002...U3I2ibwESvqfMqn_00WU4Mu-dxasSfp2FTQhUevFlx4Pw
Cloud mining provider in China has to re home 485,000 MSI RX 470’s.
Cloud mining provider in China has to re home 485,000 MSI RX 470’s.
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They are a Bitcoin mining company. Mining Bitcoin on GPUs is not cost effective, at all. Add to that the requirement to purchase racks, boards, risers etc for that many cards and the manpower to set them up, it isn't sensible.They could also just turn them back on and make $1 million per day.... Which seems easier than trying to sell that many cards.
If they are a Bitcoin mining company how did they accidentally end up with half a million GPUs that are good form mining ETH? It's a mining cloud provider, they had 485,000 GPUs and 60,000 Asics (presumably mostly for Bitcoin). I fail to see how they are Bitcoin only?They are a Bitcoin mining company. Mining Bitcoin on GPUs is not cost effective, at all. Add to that the requirement to purchase racks, boards, risers etc for that many cards and the manpower to set them up, it isn't sensible.
They could also just turn them back on and make $1 million per day.... Which seems easier than trying to sell that many cards.
Yes. Which is probably why the authorities seized the hardware to begin with.Didn't China ban mining?
Also, RX 470s are going for as much as $400 on eBay. If they sold them for even $200 they would make a killing.
The market is stupid because a single company buys half a million cards. There are probably dozens of mining companies out there with that many cards, and they certainly aren’t all RX 470s. Once mining capability is stripped from gaming cards, the supply problems will vanish and the market will go back to where it was.And that is sad.
An old mid to low end GPU that had an MSRP of $179 when it was new 5 years ago selling for $400...
It just highlights how absolutely stupid the market is right now.
The market is stupid because a single company buys half a million cards. There are probably dozens of mining companies out there with that many cards, and they certainly aren’t all RX 470s. Once mining capability is stripped from gaming cards, the supply problems will vanish and the market will go back to where it was.
So who's going to arrange the group buy? Surely the members of [H] could absorb 485,000 GPU's
The market is stupid because a single company buys half a million cards. There are probably dozens of mining companies out there with that many cards, and they certainly aren’t all RX 470s. Once mining capability is stripped from gaming cards, the supply problems will vanish and the market will go back to where it was.
as well with a shrinking supply
If they decide to sell, it would only go to another industrial scale operation, to the highest bidder. In that case the buyer was already lined up and logistics plan in place before this concluded.So who's going to arrange the group buy? Surely the members of [H] could absorb 485,000 GPU's
Not exactly. Only if mining with non sanctioned power, meaning setting up an offbook, direct deal with the powerplant/source and bypassing the government controlled and monitored grid.Didn't China ban mining?
Sort of, China regulates power and the more dense the area the more power costs but what happens is a lot of mining operations set up in remote areas where power is cheap but the infrastructure is crap. So is really messes things up, so they banned them setting up in remote areas off the books. They need to register in an authorized industrial sector and pay accordingly.Didn't China ban mining?
Yes. Which is probably why the authorities seized the hardware to begin with.
They do care though - they could be selling higher margin CMP cards to the miners, because to the miners it’s the cost of doing business. For professional rendering (say Pixar), or AI, Does NVidia go “A cards a card, and a sale is a sale”? Certainly not - they have the Quattro lines and A lines for a reason.Nvidia gave that some lip-service by blocking it, but it didn't take them long to circumvent it.
The truth is, neither the likes of Nvidia nor AMD nor their AIB partners really care. They get paid no matter who buys them, and it actually costs them less in overhead to sell big bulk orders than it does to sell onesy twosies to consumers.