Chia miners are selling used SSDs after cryptocurrency devaluation

Chia had a sharp drop in its value causing many miners to give up the currency

THE cryptocurrency chia has been losing strength and with that the miners of this coin are selling the HDs and SSDs. After appearing in May and soon reaching the peak of $1,600, now the coin had its value plummeted to around $200, $225 at the moment.

According to the website VN Express, a Vietnamese trading group from Chia with 5,000 members on Facebook was getting a lot of hard drive sales announcements. The group’s administrator, Hoang Trung, said that “the fluctuation in Chia’s prices was the incentive to sell its drives, with sellers outnumber buyers“.

“I’m selling the hardware I bought three months ago at a loss,” said Quang Thuan, a Chia miner who started mining the currency when it was still at its peak. According to the website, a 6TB drive rose 60% with the Chia boom and cost VND 6.5 million (Vietnamese currency), around $286.

The seller is now selling his drives for VND 2.5 million (US$ 110), a loss of 62%. “I haven’t found a buyer in the last three days. Maybe I have to lower the price to VND 2 million (US$80)“, said Thuan.

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A computer store owner in a Ho Chi Minh store, Vietnam, said selling HD/SSDs has been more difficult than video cards because of the “devastating impact” caused by Chia.

Another IT services representative, Nguyen Sinh, said that “most of these drives (sold) are used by security cameras, while others are sold to gamers when prices are normal.”

Chia mining is something that relies on writing intensive storage units. The faster the drive can write, the more it can mine, so the SSD is the best choice in this case. The problem is that an SSD has its lifespan drastically reduced while mining Chia.

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A study showed that a 512GB SSD can last up to 40 days, while a 1TB SSD can last twice as long, whereas a 2TB SSD can last up to five months of use. Normally an SSD for common use can easily last for years.


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Via: PC Gamer Source: VN Express