Saturday, June 25, 2022
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Chia coin miners are selling used SSDs as brand new options

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Mining various cryptocurrency coins has been on the rise for quite some time now and the Chia coin, or dubbed as Green Bitcoin is a unique way of cryptocurrency.

Though it was promised to be a green alternative to all of the previous attempts at creating a coin that can be mined, this form of mining requires volumes of high-speed storage. These days SSDs have become more and more affordable, so Chia coin used the Proof of Space (PoS) technique for mining that destroys SSDs in few weeks.

This is why the Chia coin has been losing its popularity since it is not a green alternative anymore and requires a huge amount of SSDs. As TechPowerUp states, the Chia coin once reached a peak of $1645, since then its value has decreased by over 80% and it is now worth around $220 only.

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So, as the prices of the coin have dropped significantly, miners are shifting away from the Chia coin and have started to resell their hardware. They are now selling used SSDs and HDDs to obtain new funds for mining alternative currencies.

The worst part is that some miners are rebranding their old worn-out SSDs as brand new, and selling them in China. Not only China, if this remains the case, but a lot of miners will also move away from the Chia coin and could do such scams for selling their old SSDs as branding it new, so be aware before falling into the trap.

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Raunak Saha
Raunak Saha
A cs engineer by profession but foodie from heart. I am tech lover guy who has a passion for singing. Football is my love and making websites is my hobby.

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