China’s internet cafes converted to crypto mining centers

Internet café house owners in China are turning their companies into crypto mining centers to offset losses incurred due to social distancing measures enforced due to the COVID-19 pandemic.

According to local media outlet Sina, knowledge from complier Tianyan Check confirmed nearly 13,000 internet cafes shut their doorways final 12 months when the pandemic began hitting China badly. These companies function for twenty-four hours and are primarily created for PC avid gamers, however not anymore.

From gaming to crypto mining

One proprietor from Nantong, Jiangsu, mentioned his 200 gaming computer systems at the moment are operating 24 hours a day mining tokens, bringing in $6,210 value of crypto per 30 days in revenue. The businessman additionally mentioned since September, the mining operation earned him over $31,000. He added most internet cafes in Nantong additionally turned to cryptocurrency mining due to the worldwide well being disaster.

Meanwhile, in Zunyi, Guizhou Province, an proprietor of one other internet café had a “worthwhile pandemic” that he determined to buy a brand new gaming room which was later converted right into a crypto mining suite. According to the proprietor, he now has three internet cafés, two of that are devoted completely to cryptocurrency mining. This had led to an earnings of $7,800 per 30 days.

Defending selections, clinging for hope

In the face of points that plague the cryptocurrency mining trade, internet café house owners in China defended their determination to turn their businesses into mining centers for digital tokens. They mentioned until they’re over 80% full day and evening lengthy, they’ll’t have sufficient revenue to maintain their enterprise, and the present pandemic measures meant they may solely be half full at most.

Despite this improvement, some house owners cling to the hope of returning to the times when their rooms are full of avid gamers as a substitute of getting their computer systems silently mining cryptocurrencies. One of them even mentioned having prospects “generate extra income than mining” as a result of they purchase snacks and different items from their counters.

 

Image courtesy of Cointelegraph News/YouTube

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