Cryptocurrency mining has become a very profitable business model for many people around the world, becoming increasingly popular as the adoption and price of major cryptoactives increases. Because of this, different stores in Sim Lim Square, a large commercial complex in Singapore, have started to sell mining equipment ( rigs ), obeying the demand of their customers.
These stores, which initially offered only technology Equipment and computer components, began assembling the rigs and selling them, earning a profit of around 10%. Considering that the price of these equipment varies between 3,000 and 7,000 US dollars, the benefit for assembling a team is at least $ 300 for the store.
Although the different stores started selling these products during the month of July, in the last weeks their demand has grown. On average, stores sell one piece per day, according to different traders interviewed by the Bloomberg chain and TODAY .
One of the merchants, named Wilson Josup, said he sells about 10 machines a week, unlike the 1 or 2 he sold when he started six months ago. In addition, different store owners commented that customers of all ages arrive, from 13-year-old teenagers who use their savings to buy the equipment to seniors retired from their work.
Another merchant, Mr. Srini, who also offers the installation of the miner, informed that the rigs are armed according to the needs and budget of the clients. He affirmed that, although he regularly sells equipment of between 8 and 12 video cards (GPU), he has received requests to build machines with 100 GPU. However, he said that his inventory has declined due to the shortage of components.
Most buyers use the rigs to mine Ethereum , the second cryptocurrency with the highest market capitalization, since the difficulty for this network is less since, unlike Bitcoin , it can be mined with video cards.
This increase in Ethereum’s mining potential comes at a time when transactions made through this network are increasing. During the first weeks of this year its blockchain collapsed and its commissions reached very high values, making more urgent the scalability proposals in which its developers work.
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