Chia Coin price crash forces miners to sell SSDs and HDDs at a loss

The price of Chia Coin has pushed Chia crypto miners to offload their {hardware}, with bundles of SSDs and HDDs hitting the market — at a loss. Unlike GPU miners that might’ve bought graphics playing cards final yr, and offered them at a revenue this yr.


The price of XCH has dropped from round $290 simply a few days in the past, down into the $210 space — after spending most of August 2021 above $250. XCH was at manic peaks again in March 2021 when Chia Coin was at its most hype interval, breaching $1600… earlier than dropping shut to 8x down to $216 at the time of writing.

One of the admins on the Chia Coin Facebook group, which has over 5000 Chia merchants, has seen a large uptick in Chia miners promoting their previous mining-abused SSDs and HDDs. Chia Coin Facebook group admin Hoang Trung explains: “The fluctuation of Chia costs has urged traders to sell their {hardware} at a loss, with sellers outnumbering consumers“.

Chia Coin price crash forces miners to sell SSDs and HDDs at a loss 05 |

Quang Thuan, a Chia Coin crypto miner within the southern province of Dong Nai, stated: “I’m promoting my {hardware} I purchased three months in the past for a loss. I have not discovered a purchaser within the final three days. I might need to carry the price down to VND2 million so I can swap to mining one other coin“.

Not solely that, however retail shops are having extra bother promoting storage merchandise lately in contrast to graphics playing cards, as a result of Chia Coin crypto mining is destroying the HDDs. For instance, a 1TB SSD would usually final up to 10 years below regular use, but when they have been thrashed with Chia Coin you are trying at simply 80 days.

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About the Author: Daniel