According to the source, miners began buying hard drives from 4 to 18 TB, as a result of which the average price for HDD in Hong Kong soared from $ 26 to $ 76. On the other hand, local SSD maker Jiahe Jinwei has revealed that all of its 1TB and 2TB high-performance Gloway and Asgard series SSDs have been sold out. The same company said that, firstly, it is taking steps to prevent the purchase of SSDs by miners, and, secondly, it is increasing the production of solid-state drives and preparing special SSDs for mining. The turmoil in the market is due to the new cryptocurrency ChiaCoin, which is planned to be mined at the expense of storage devices.
ChiaCoin was invented by Bram Cohen, the creator of Bit Torrent. According to his idea, ChiaCoin should become a green cryptocurrency, as it relies solely on storage, which consumes much less energy than CPU and GPU. In fact, this is called farming, not mining, since the principle of mining is different: the more data a user can place in his farm, and the faster access to it, the higher his chance of receiving a reward. That is, ideally, you should still use an SSD, but ordinary solid-state drives with a limited number of read and write cycles are not suitable for this: you need either an HDD or a server-level SSD for farming. Nevertheless, now in China, apparently, everyone is buying up. Given the size of the Chinese market and the concentration of production in the Middle Kingdom, it is logical that a deficit in the domestic market will invariably lead to a deficit in foreign markets. The only question is how soon.
And although the prospects for the new ChiaCoin are still vague, in the wake of the general interest in cryptocurrencies, the purchase of drives has already begun. If the rewards on the network are substantial, it will spur demand, and then the shortage of HDD and SSD will flourish in all its glory.
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