Hard drive prices spike as Chinese miners turn to Chia mining By BTC Peers

Hard drive prices spike as Chinese miners turn to Chia mining

Chinese crypto miners at the moment are trying previous ASICs and GPU miners. They have set their eyes on Chia mining, forcing the prices of arduous drives to surge.

Several {hardware} information shops have reported a rise in investments from Chinese merchants into the Chia community mining. This has led to a spike within the prices of arduous drives, notably, enterprise-grade ones.

According to knowledge from Manmanbuy.com, a Chinese cellular app that retains monitor of the prices of products bought on e-commerce websites, the prices of varied fashions of storage gadgets have elevated by as a lot as 100% for the reason that starting of the month. For occasion, an 8TB Seagate enterprise-grade arduous drive bought at 1,150 yuan on Taobao earlier than April 14. The identical machine now prices 2,169 yuan.

What’s the craze about?For some context, Chia is a decentralized storage community that was based in 2017 by Bram Cohen. Chia claims to be “a greater blockchain and sensible transaction platform which is extra decentralized, extra environment friendly, and safer.” Its creators declare that they need to sort out among the issues of conventional crypto mining actions such as e-waste. The protocol makes use of arduous drive storage capability for its consensus mechanism.

Surprisingly, miners are already buying and selling XCH, Chia’s native cryptocurrency, over-the-counter regardless that on-chain transactions is not going to be enabled till May 3. Bids and asks are round $200.

Continue reading on BTC Peers

Disclaimer: Fusion Media would really like to remind you that the information contained on this web site shouldn’t be essentially real-time nor correct. All CFDs (shares, indexes, futures) and Forex prices aren’t supplied by exchanges however reasonably by market makers, and so prices is probably not correct and should differ from the precise market worth, that means prices are indicative and never applicable for buying and selling functions. Therefore Fusion Media doesn`t bear any duty for any buying and selling losses you may incur as a results of utilizing this knowledge.

Fusion Media or anybody concerned with Fusion Media is not going to settle for any legal responsibility for loss or injury as a results of reliance on the data together with knowledge, quotes, charts and purchase/promote indicators contained inside this web site. Please be totally knowledgeable relating to the dangers and prices related to buying and selling the monetary markets, it is without doubt one of the riskiest funding types attainable.

Recommended For You

About the Author: Daniel