Hong Kong Customs seizes 300 crypto mining GPUs in anti-smuggling operation

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Within the waters off Hong Kong Worldwide Authorities on Friday, Hong Kong Customs detected suspicious figures offloading cartons from a fishing boat to a close-by speedboat. Whereas the boys efficiently fled, the authorities reportedly detained the fishing vessel and located a big batch of apparently smuggled items: every thing from dried shark fins and cosmetics to electronics.

Notably, amongst these items — value an estimated $31 million in complete — had been reportedly a stash of over 300 Nvidia CMP 30HX graphics playing cards, a brand new line of GPUs devoted to cryptocurrency mining, which Nvidia released earlier this year with the intention to be sure that its different GPU {hardware} will stay primarily utilized by players.

“To handle the particular wants of Ethereum mining, we’re asserting the NVIDIA CMP, or, Cryptocurrency Mining Processor, product line for skilled mining,” Nvidia defined in mid-February. 

The CMP 30HX gives an Ether hash fee of as much as 26 megahashes per second and is reportedly based mostly on earlier 12nm Turing structure. It comes with none show outputs, as it isn’t meant for use for graphics workloads. The 30HX is alleged to have been retailed at over $700, a value level that has been met with some derision by tech reporters as a consequence of its unfavorable comparability with different, cheaper GPUs that can be utilized for cryptocurrency mining.

Some have speculated that the smuggled playing cards had been en route to China, the place a number of regional authorities have made moves to prevent cryptocurrency mining operations, though no proof exists to substantiate this declare but.

Again in Hong Kong, the official announcement signifies that the 43-year-old proprietor of the fishing vessel has been arrested, with an investigation into the foiled operation ongoing. Beneath Hong Kong’s Import and Export Ordinance, anybody discovered responsible of smuggling faces a most superb of $2 million and a jail time period of seven years.