Asian hardware retailers will soon be enjoying a business boom if the growing demand for cryptocurrency mining rigs continues. Miners are particularly keen on Singapore and Hong Kong where chances of having cheap mining rigs are very high. The booming market has resulted in the diversification of retailers from their traditional customers as they entice them with cryptocurrency earnings.
Apparently, components such as graphics processing units (GPUs), motherboards and power adapters can be assembled as someone waits. This alone makes the mining rigs interesting for computer shops and assemblers. Bitcoin miners from other states are also flooding Asia to buy supplies to mine cryptocurrencies back in their home countries.
The mining rigs will boost the Asian tech sector
Russians are well known in the mining of cryptocurrencies. In fact, a majority of the buyers in Hong Kong come from Russia having traveled from as far as Africa and Western Europe. On the other hand, hardware suppliers in Singapore and Hong Kong are within close proximity. Hence they can sell computer components at a cheaper rate.
However, all this is to the advantage of the Asian tech sector, which has been fighting to retain its name in the competitive market. In the recent years, sales have significantly dropped as a result of the decreasing demand for PCs. The local customers have been replaced by an influx of foreigners from the Western countries.
Average miners would get their money back in about three months
According to a cryptocurrency expert, the average miners will have every benefit of the new unfolding. As the small miners wait for a longer period for a payoff, their waiting period is just about three months. This in return propels business in a majority of shops.
Wilson Josup, a shop owner who sells close to ten rigs on a weekly basis says that letting a $4,000 rig operate non-stop can bring in around S$400 a month. He adds that he has a number of customers who ask for his help in transferring rigs from their homes to a data center and in each rig he can make close to 10% profit.
The whole unfolding is a clear explanation of how cryptocurrency miners are taking over the retail computer market all over the world.