Computer Shops Outfits Cryptocurrency Miners

Computer Shops Outfits Cryptocurrency Miners

Cryptocurrency
February 21, 2018 by Bitzamp
376
Computer Shops Outfits Cryptocurrency Miners Some of the largest electronics bazaars in Asia are being flooded with customers looking for the latest piece of technology, cryptocurrency mining rigs. “It is 30 to 50% cheaper to buy cryptomining equipment in Hong Kong than in Europe,” said Dima Popov, a Russian Bitcoin miner. Hong Kong, for example,
Bitzamp

Computer Shops Outfits Cryptocurrency Miners
Some of the largest electronics bazaars in Asia are being flooded with customers looking for the latest piece of technology, cryptocurrency mining rigs.
“It is 30 to 50% cheaper to buy cryptomining equipment in Hong Kong than in Europe,” said Dima Popov, a Russian Bitcoin miner. Hong Kong, for example, has no sales tax and is closer to component suppliers.

Also Read: CRYPTOCURRENCY MINNING RIG NOW ON SALE IN SIGNAPORE

Popov buys cards, motherboards and power supplies in Hong Kong and mines cryptocurrencies in Russia, where electricity is cheaper and the climate more suitable.
Scores of miners from around the world are travelling to places like Hong Kong’s Sham Shui Po and Singapore’s Sim Lim Square to buy the rigs, which the shops’ hardware geeks expertly build behind counters in their cramped boutiques.

Some buys motherboards, graphics processing units, fans, power adapters, a display card and a memory card. But even if the sellers get together on the spot for a small fee, the finished product is always a relative bargain.
The demand for plate-forms has been added to a new dimension of tech shopping centers in Asia at the time of business. Storefronts that are more likely to be used for sales, sales phones and other consumer equipment are now greeting foreign visitors searching for hardware that might enrich them.

DIGITAL MINES
Miners are looking for business, chip makers Facilities can cost thousands of dollars to more or less – and processing chips are the most expensive component. Rigs are often stacked in warehouses and are constantly monitored.
Their mining machines are made in China using chips from Advanced Micro Devices (AMD) and Nvidia, which are looking for export customers who want to crack down on cryptocurrency miners.
Each unit contains energy-hungry processors that solve mathematical complexes. When they do, they are granted the right to validate a blockchain transaction by charging them “mining” fees.

An expert in cryptocurrency has said that anecdotal evidence suggests that miners would get their money in three months. But those with small home-based operations would have to wait much longer for a payoff.
In Hong Kong, traders say that most buyers come from Russia, but they have customers from Western Europe, Africa and South Korea. Singapore sees visitors from neighboring countries with lower operating costs.

“We sold more these few months and we often run out of stock”, as miners move elsewhere and components flood out of China, said Grant Mak from C. Basic Computer.

Lee Sang-hyun, vice president of Samsung’s foundry, said during a conference call: “Part of the customers of the virtual money industry is expected to grow dramatically in our customer base. The smaller version of Sham Shui Po, the electronic shopping center of Sim Lim Square, is also expanded for mining equipment.

Anuj Agarwal, a 39-year-old consultant for his brother Bizgram’s shop, said he has been dealing with buyers from Vietnam, Malaysia, Indonesia and Russia.
“Foreigners come to Singapore and trust Singapore as a country,” he said, that some were as young as 16 and came with their parents.


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