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

Within the waters off Hong Kong Worldwide Authorities on April 2, Hong Kong Customs detected suspicious figures offloading cartons from a fishing boat to a close-by speedboat. Whereas the lads efficiently fled, the authorities reportedly detained the fishing vessel and located there a big batch of apparently smuggled items: every part from dried shark fins and cosmetics to electronics.

Notably, amongst these items — value an estimated $31 million in complete — have 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 launched earlier this 12 months so as to make sure that its different GPU {hardware} will stay primarily utilized by avid gamers.

“To handle the particular wants of Ethereum mining, we’re saying 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 26MH/s 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 worth level that has been met with some derision by tech reporters, resulting from its unfavorable comparability with different, cheaper GPUs that can be utilized for cryptocurrency mining.

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

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. Underneath Hong Kong’s Import and Export Ordinance, anybody discovered responsible of smuggling faces a most high quality of $2 million and a jail time period of seven years.