There is a unique case regarding cryptocurrency mining in China, namely a dispute between hosting service provider Chuangshiji Technology Limited and Genesis Mining.
The court granted Genesis Mining's lawsuit and ruled that Chuangshiji must return the 485,000 Genesis Radeon RX 470 8GB GPU they seized.
But for the Icelandic company, the return of hundreds of thousands of GPUs has become a new problem. Because they have to find a place to store the outdated GPU.
The legal case between the two began in 2018, and has been going on for years. The cause of the dispute was related to rental fees and payments between Chuangsiji and Genesis, which caused Genesis to terminate the cooperation.
After the contract was terminated, Chuangshiji refused to return the hundreds of thousands of components, and instead sold them without Genesis' permission, prompting Genesis to sue the company.
In 2019 Genesis filed a lawsuit against Chuangsiji seeking the return of more than 560 thousand GPUs and more than 60 thousand application specific integrated circuits (ASICs), which were withheld by Chuangshiji after Genesis canceled the agreement between the two.
Genesis Mining is a cloud-based crypto mining service provider. They rent out mining services, so users don't have to buy and operate their own mining hardware.
Companies like this usually offer certain packages according to the hash capabilities provided. This hash capability is a measurement of computational ability used for calculations in mining.
The Radeon RX 470 itself is still fairly capable of playing games at 1080p resolution. So actually Genesis can still sell hundreds of thousands of these GPUs to gamers.