Cong Tran – an owner of Chia mining mine in Tan Binh, Ho Chi Minh City with more than 40 machines, said that during more than 2 months of mining Chia, the actual amount of copper received only stopped at 3 units. Currently, on the Huobi exchange, Chia is being valued at $820. This means that after 2 months and 3 billion in capital, he earned about 56 million VND.
Mr. Cong said that while Chia copper saves electricity, it is difficult to compete with super mines in China. Besides, the dramatic drop in the price of cryptocurrencies in the past week also increased the payback time of Chia mining pools.
“My Chia mining system uses a 6TB HDD. Each of these hard drives costs 6.5 million dong. The number of hard drives in the mine is almost 300. Previously, the price of hard drives was close to 300. HDD is only about 2-4 million VND. However, the wave of Chia mining has caused the hard drive to double in price.” Mr. explained.
To cope with the huge writes of Chia miners, many memory manufacturers have designed SSDs specifically for professional miners, like TeamGroup’s T-Create Expert model with a write limit of up to 12,000. TB. Amazon Web Services also recently opened a Chia mining service for the Chinese market.
According to Mr. Cong, in the game of mining Chia, whoever has the most large-capacity hard drives, that person holds a higher victory. And the winners at this point are the mining pools in China. They buy hard drives in bulk at very high prices to gain an advantage in the market.