300 Crypto mining GPU's seized by Customs in Hong Kong
April 6, 2021 11:25 AM
Customs in Hong Kong thwarted a large volume of expensive exotic foods, cosmetics, and dedicated crypto mining GPUs in their latest successful anti-smuggling operation.
On April 2, the Hong Kong customs observed some persons offloading cartons from a fishing boat to a speedboat nearby. The men fled the scene leaving begin a large batch of smuggled goods which the authorities confiscated.
The goods contained everything from cosmetics and electronics to dried shark fins, estimated to be worth $31 million in total. A large chunk of over 300 Nvidia CMP 30HX GPUs released earlier this year, is specifically dedicated to crypto mining.
Nvidia announced in February that:
"Addressing the specific needs of mining Ethereum, we are revealing product line for professional mining in NVIDIA Cryptocurrency Mining Processor or CMP."
Not intended for gaming, the Nvidia CMP 30HX offers an Ether hash rate of about 26MH/s and is reportedly sold for over $700 per piece. Although most tech reporters have ridiculed the price as it is being compared to other crypto mining GPU's.
According to speculations, the smuggled graphics cards were on the move to China, no evidence yet to back this claims. However, several Chinese authorities have made efforts to prohibit cryptocurrency mining operations in the region.
However, according to the official announcement which implies that the 43-year-old owner of the fishing boat has been arrested while the investigation is ongoing. The man if found guilty could face a fine of $2 million and jail term according to the Hong kong Import and Export law.