Chia miners began to resell used SSDs under the guise of new ones

Cryptocurrency Chia, which is mined with the help of data storage devices, caused serious excitement even before the start of trading, which led to a shortage of hard drives.

However, over the past three months, the value of the cryptocurrency has dropped to about 15% of its peak value, which prompted miners to switch to other platforms. Now they are selling used SSDs and HDDs, and many are trying to sell them under the guise of new ones.

Initially, miners bought a huge number of drives, which led to their shortage in the market. Since then, the cost of one token has dropped from $ 1,685 to $ 220.

As expected, some miners are trying to leave Chia and do something else, but for this they need fresh capital. This forces them to sell the existing equipment that was used for mining.

It is worth remembering that mining Chia significantly reduces the resource of the SSD, since a huge amount of data is constantly being written during its process. Intensive mining can kill an SSD in just a matter of months. In turn, hard drives are not so susceptible to wear and tear from mining, since they only store blocks of information created with the help of SSDs, without being overwritten.

A number of sources report that some entrepreneurs are buying up used drives in bulk, reflashing them and selling them as new in China, where demand is still very high. Moreover, the prices for such SSDs look more attractive than in stores, and outwardly it is unrealistic to distinguish a used SSD from a new one. And it’s only a matter of time before such drives hit the global market.