Chia miners are getting out of the cryptocurrency storage market and either selling their old, thrashed drives at a loss or repackaging them and reselling them as new (according to VNExpress). That’s worrying news for would-be buyers, because an SSD used for Chia mining can be effectively at the end of its useful life in as little as six weeks, rather than the minimum five years most warranties cover you for.
The reason for this exodus is due to Chia coin’s falling pricing. The cryptocurrency peaked at just over $1,600 shortly after its launch back in May, but has since tumbled to as low as $200. At the time of writing, it sits at $288, although as is common with all cryptocurrencies it remains volatile. And mostly useless, obvs.
In how it works, though, Chia is unlike most cryptocurrencies. It doesn’t rely on your CPU or GPU to do the hard work, but rather plots out space on your SSD or hard drive instead. Mining Chia coins isn’t as power-draining as other currencies, but it does require a lot of space to work efficiently. And certainly isn’t a ‘green’ cryptocurrency.
This need…
