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| Chia cryptocurrency leads to a shortage of storage drives |
According to reports, cryptocurrency miners in China are purchasing the largest possible number of storage-based hard drives and SSDs for Chia coin.
Since miners bought all available graphics cards, the GPU-related players have worked hard to solve the problem of high-end graphics rendering.
However, the following cryptocurrency may cause similar problems in the storage market.
Chia is a cryptocurrency that provides a more energy-efficient way to generate money with unused computer storage space rather than GPU-based calculations.
The more unused storage space that coins provide as part of the network that minerals provide, the greater the profit.
Additionally, the prospect of a green cryptocurrency appears to have ignited the storage market.
According to a report by HKEPC, Chinese participants are purchasing large capacity storage drives from 4 TB to 18 TB.
It is believed that with higher prices, emergency purchases can lead to shortages of USB drives, making high-capacity drives more difficult to come by.
This is similar to the situation in the high-end graphics card market, prompting Nvidia to reduce the potential of mining and encouraging retailers to sell GPUs to home users instead of metal.
Because Chia tokens must perform a large number of read and write operations, bimetallic user storage drives that target corporate storage drives are identified as the target.
Some storage drive manufacturers are considering new ways to purchase.
In the case of Chinese storage drive manufacturers Jia and Kingway, they continued to sell 1 TB, 2 TB, and 2 TB M.2 NVMe SSDs despite restrictions preventing the purchase of mass consumer drives (Gloway et al. Asgard).
The company is ramping up production to meet demand and has also said it is developing SSDs dedicated to this type of mining.
Since it is a relatively new cryptocurrency, the current demand for storage drives is relatively low. However, with chia receiving more support, the demand for miners could increase over time.