Cryptocurrency Mining Hardwares’ Physical Store In Singapore

In News
Cryptocurrency Mining

Are you into cryptocurrency mining?

As the cryptocurrency industry continues to soar higher as the days go by, the more it encourages people to get to know a few interesting facts about cryptocurrencies. While new cryptocurrency users are still learning the basics, here comes the experts who are determined to boost their cryptocurrency investment.

Aside from trading cryptocurrencies, cryptocurrency mining has become one of the most popular hobbies of cryptocurrency experts. Mostly of expert cryptocurrency users prefer cryptocurrency mining over the normal trading.

Well, guess what? Singaporean cryptocurrency miners are lucky!

Cryptocurrency miners in Singapore can now buy their rigs pre-assembled right at the mall as more retail computer hardware shops enter this booming market. This is another strong sign of how retailers are diversifying away from their traditional costumers such as PC gamers, all due to the allure of cryptocurrency earnings.

Singapore Mining Mall

Singapore Mall Sells Cryptocurrency Mining Hardware
Sim Lim Square complex, which houses many of the computer spare parts retail shops in Singapore

At least five computer stores are now selling cryptocurrency mining rigs in Singapore’s Sim Lim Square, according to a report from the region. The six-story complex is mainly known for attracting tourists from around Asia with its cheap electronics, shopping bargains, and many computer spare parts and service shops. However, Singaporeans these days want more cryptocurrency hardware than another knockoff mobile phone or gaming laptop, and local businesses are adopting to meet this demand.

One shop owner, Wilson Josup sells about ten rigs on a weekly basis, up from just one or two when he first started selling them about six months ago. He said that based on customer testimonials, letting a S$4,000 rig operate non-stop can earn around S$400 a month. And clients range from those in their 20s to retirees, he toldthe South China Morning Post. “Most of my customers would ask me to help transfer the rigs from their homes to a data center because they don’t like the heat and noise,” noted Josup, adding that his profit margin on each rig was around 10%.

Another store owner, Trecia Tay, has yet not sold any mining rigs but explains she now receives about ten inquiries about them every week, five times the amount of questions from just three months ago.

Background

Computer Shops in Singapore Sell Cryptocurrency Mining Hardware Right at the MallSingapore serves as a global regulatory, financial and logistics hub for many companies in Asia. When the government of China started to threaten a clampdown on bitcoin-related activities under its jurisdiction, a number of Chinese businesses officially migrated to the island nation including bitcoin exchanges and miners. The country stands to benefit much more from this trend if it will continue to provide an accommodating and stable regulatory environment.

Beyond just Singapore, this story exemplifies how cryptocurrency miners are overcrowding the retail computer market all over the world. In a related matter, GPU manufacturer Nvidia recently requested retailers take measures to try and ensure its products get into the hands of gamers, not miners.

When do you expect it will be possible to get a cryptocurrency mining rig right off the shelf in your local mall? Tell us what you think in the comments section below.

via Bitcoin


You may also read!

Blockchain Technology

American Multinational Retail Company Goes For Blockchain Technology

Even big companies are now warming to the idea of integrating blockchain technology, the powerful technology behind Bitcoin. One

Read More...
European Privacy Rules

Legit Proof That The European Privacy Rules Exempt No One

Even the church is not spared from the European Union’s General Data Protection Regulation. You could see them walking

Read More...
Global Movement

Global Movement Aims To Develop Data Security Capabilities

With the issues of the data breach circling the globe, a global movement initiated by different countries and organizations,

Read More...

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu