485,000 x Radeon RX 470s returned to cloud mining company by China

China is spreading its cryptocurrency regulatory tentacles all over the place it may possibly, however now China’s Supreme Court has sided with cloud mining company Genesis Mining, and can return 485,681 Radeon RX 470 8GB GPUs.

The dispute between Chinese internet hosting supplier Chuangshiji Technology Limited and Iceland-based Genesis Mining began over charging disagreements and payment-related. Genesis filed a swimsuit towards Chuangshiji that requested the return of its graphics playing cards, in addition to 60,000+ ASIC miners after it terminated the internet hosting settlement with the Chinese cloud mining company.

Once Genesis had terminated its contract with Chuangshiji, the company began liquidating the GPUs and ASIC miners with out Genesis’ consent. Genesis has now gained that court docket case, however now has 485,000 Radeon RX 470 8GB GPUs that it wants to discover new crypto mining properties for.

That’s lots of hashing energy that will probably be re-inserted onto the crypto mining market, with round 14.5 TH/s (Terhash per second) of crypto mining muscle with 485,000+ Radeon RX 470 8GB GPUs.

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About the Author: Daniel