GPU prices in China fell as much as 45% after Sichuan ordered a shutdown of cryptocurrency mining operations. Sichuan, with its abundant and cheap hydroelectric power, was one of the last safe havens for cryptocurrency miners in a country that has become increasingly hostile to digital currencies. Expensive high-end cards have seen little drop, while mid-range and inexpensive cards have seen plunges of 25% to 45%.

This is a huge plunge for prices and in bitcoin mining rates, which were prevalent in China due to the generally cheap electricity provided by renewable energy in rural areas. In recent weeks, Inner Mongolia and Xinjiang have banned cryptocurrency mining. The Sichuan government has ordered local power companies to monitor their customers' electricity consumption and report any above-average consumers by this weekend, June 25.

First reported in the South China Morning Post and subsequently analyzed by Tom's Hardware, the findings not only confirmed but also showed very suggestive numbers: the GeForce RTX 3060 was selling for $1,531 in May, It is now down to $835 in similar markets.

For more on this, read Tom's Hardware's in-depth analysis.