Nvidia GeForce RTX 3060 are dropping in price due to China's cryptocurrency crackdown

Nvidia GeForce RTX 3060
(Image credit: Nvidia)

Nvidia GeForce RTX 3060 graphics cards are suddenly cheaper, and there's a very good reason why.

As The Block first reported recently, cryptocurrency hackers based in China have been facing crackdowns from the government. While these crackdowns are nothing necessarily new, they are forcing bulk buyers of RTX 3060 graphics cards to resell the stock they've purchased in droves, rendering the graphics cards to be sold for as little as $270 on trading websites.

This hasn't just meant a drop in price and rise in stock for the RTX 3060 graphics cards, however. Cryptocurrency miners, in China and elsewhere, have been purchasing graphics cards of all sorts to recoup their investments, resulting in Nvidia's entire new line of graphics cards being relatively hard to come by, for the past few months in particular.

However, this might not necessarily be the good news you think it is. Although cryptocurrency miners in China are selling off their supply of RTX 3060 and other graphics cards, Toms Guide reports that many of these listings are actually for bulk orders of the graphics cards. Since the cryptocurrency miners themselves are trying to sell off all their stock in one fell swoop, they're resorting to listing their stock in bulk to try and shift it as quickly as possible.

This is unfortunate, but it does potentially mean that there might be a halt in cryptocurrency miners in China and elsewhere gobbling up all the stock of these high-end graphics cards. Here's hoping other governments follow suit in cracking down on cryptocurrency mining.

Of course, anyone who's been trying to snap up one of Nvidia's relatively new graphics cards will be no doubt familiar with this whole ordeal. The combination of a global chip shortage and the rise of cryptocurrency mining has led to a dire shortage of the Nvidia line of graphics cards, the results of which we're likely going to see for at least the rest of the year.

If you're looking to get your hands on one of the elusive graphics cards, in or out of a pre-made machine, head over to our RTX 3060 laptop prices and deals for more.

Hirun Cryer

Hirun Cryer is a freelance reporter and writer with Gamesradar+ based out of U.K. After earning a degree in American History specializing in journalism, cinema, literature, and history, he stepped into the games writing world, with a focus on shooters, indie games, and RPGs, and has since been the recipient of the MCV 30 Under 30 award for 2021. In his spare time he freelances with other outlets around the industry, practices Japanese, and enjoys contemporary manga and anime.