Does Cryptocurrency have a market impact on computer hardware? The selling prices of computer graphics cards and gaming laptops skyrocketed as purchases from cryptocurrency ‘miners’ surged, making them inaccessible to those with other needs.
Here’s how cryptocurrencies affect the computer and the hardware market:
- The “miners” become more active due to the sharp increase in the price of cryptocurrencies.
- Scarcity of electronic devices in the market
- Hard drive costs increase, and waiting time is up to several times
- Hard drive status “Sold out” is almost VGA
1. The sharp increase in the price of cryptocurrencies also makes the “miners” more active.
According to a survey from DigiTimes newspaper, cryptocurrency “miners” in China, Taiwan, and South Korea have recently purchased many Nvidia’s GeForce RTX 30 series of graphics cards, making the line of graphics cards.
This disaster “sold out” in the market. Not stopping there, these “miners” have turned to buy gaming laptops equipped with RTX 30 graphics cards.
When the capital market “cooled down” after consumer holiday shopping, this resulted in a sharp increase in the market’s sales and prices of gaming laptops in the first quarter of this year.
Also, according to DigiTimes, many cryptocurrency “miners” have asked graphics card manufacturers to create devices with low-cost components but strong graphics processing capabilities to reduce component costs.
Perhaps the only purpose of these people is to “mine” cryptocurrencies like Bitcoin or Ethereum.
2. Scarcity of electronic devices in the market
In the past few weeks, a new cryptocurrency called Chia has gradually gained popularity in the Chinese market.
For the opportunity to reward those with a lot of storage space, Chia always makes all hard drive or SSD products in China increasingly scarce.
There is a slight increase in prices for hard drives with large capacity, which has been relatively low in recent weeks. Many resellers always warn about the cost of storage drives that will increase sharply in the following months.
3. Hard drive costs increase, and waiting time is up to several times
Currently, in the Chinese market, hard drives are also becoming more and more scarce. It is difficult for users to buy goods online and in electronic markets.
The demand, especially for hard drives with a lot of capacity, always makes it quite difficult for all brands to meet in the Chinese market. Therefore, all other markets are also affected quite strongly.
Many users in technology groups reflect on the high cost of installing computers in the past. In which, including the graphics card, the must-have component is the storage drive such as HDD, or SSD, with a slight price increase.
In determining this information, representatives of a distributor from the Seagate brand had to adjust.
In particular, with the price increase in the past one month, they may increase further after the last holiday. Even so, ordering is also quite tricky; you need to wait for a long time.
Opinions of electronic component distributors are influenced by cryptocurrency.
“Previously, the waiting time was only 4-6 weeks for each new order. Now the time has increased to 8 – 10 weeks, with high-capacity lines sometimes up to 13 – 15 weeks.
The wait time has increased by 2-3 times.” Distributors said “All models of drives from 8TB and above are gradually sold out across Asia.
For industries with smaller capacities, ranging from 1 to 6TB, we also have entire stock until the end of this quarter.
But the cost of each product has increased slightly with 8TB drives and 10TB models rising in price. Mainly, all codes 12 TB and above increased the most, but all were sold out.
Therefore, we face many difficulties in returning goods to customers. Even though we are distributors, sometimes we don’t have enough goods, so we have to go to many places, including retail channels.”
4. Hard drive status “Sold out” is almost VGA
Chia is also known as “Green Bitcoin.” This cryptocurrency was officially born in February for the “mining” activity that started in March. Instead of using machine power to be able to mine like: Bitcoin, Chia has been the concept of “Provenable by capacities and times.”
Users only need to turn on the program to be rewarded with this cryptocurrency. The number of shares depends entirely on free storage space.
Therefore, the larger the drive, the more Chia received after some time, whether Chia has explicitly been traded on the market or only put into operation starting on May 3.
With all the “Miners” rushing to buy and stock themselves with a bunch of HDDs and SSDs.
This is also why all large capacity drives from 8TD and above are collected in large quantities, affecting quite a lot on the market.
As the supply of large capacity hard drives has dropped sharply, small models from 1-6 TB may also be sold out.
HDDs are always preferred for hard drives because they can meet large capacities and are cheaper than solid state drives (SSDs) of the same power. Although HDD is scarce, the SDD market is also not lightly affected.
SSD drive prices have also gradually increased by 20-30% over the past time. All SSD models with 1 to 2TB capacities are being collected worldwide.
To overcome this, all manufacturers need to increase the production of hard drives. With this fact, it is not straightforward when large production plants are located in countries with many difficulties.
Although not to the extent of selling out and increasing prices like VGA, it will take a few months for the situation to improve.
Final Thoughts
Many people also think that cryptocurrency “miners” are destroying the computer market, “selling out,” and pushing the price of graphics cards and gaming laptops too high, making people in need Demand can’t access the products they want.
Currently, the price of cryptocurrencies is still on a solid uptrend. Bitcoin, the world’s most valuable cryptocurrency, is also recovering from a period of price decline, which further motivates cryptocurrency “miners” to push the “mining” process Mine.
Therefore, it is likely that the graphics card and gaming laptop markets will soon continue to experience many fluctuations and high prices.
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