HDD and SSD crypto mining frenzy begins, could see shortages like GPUs

If you thought the CPU and GPU shortage was bad enough, crypto mining is going to the next level: hide your HDDs and SSDs, people!

@anthony256
Published Sun, Apr 18 2021 8:25 PM CDT   |   Updated Thu, May 13 2021 9:32 PM CDT

If you were pissed off about the worldwide GPU shortage was bad, then we might be in for some trying times when it comes to HDDs and SSDs as Chinese crypto miners are buying them up in bulk to mine cryptocurrency on them.

HDD and SSD crypto mining frenzy begins, could see shortages like GPUs 507 | TweakTown.com

Chia is the cryptocurrency that the Chinese miners are digging into right now, which doesn't use a CPU, GPU, or ASIC -- it uses your hard drive or SSD. Chia uses a proof of space and time model, versus the proof of work model that cryptocurrencies like Bitcoin are mined through.

Chia was created by BitTorrent creator Bram Cohen, with the idea behind Chia being that HDDs and SSDs use less power -- so mining on them is much cheaper (as the HDD and SSDs are cheaper than CPUs and GPUs for the most part, and they use far, far less power and output even less heat).

Chinese crypto miners are now purchasing HDDs and SSDs in bulk, with capacities anywhere between 4TB and 18TB being scooped up big time. HDD and SSD pricing is now spiking in China, as well as HDDs and SSDs becoming much harder to buy with everyday that passes.

Jiahe Jinwei is one of the largest domestic manufacturers in China, and when speaking with MyDrivers the company said that their 1TB and 2TB high-performance NVMe SSDs are completely sold out. The company has now had to resort to stopping crypto miners from securing all of their consumer-focused SSDs -- also forcing the company to boost production in order to meet demand -- as well as a tease that Jiahe Jinwei is now making a crypto mining friendly SSD... uhhh.

I guess we'll be reading about HDDs and SSDs costing 2-3x more or something insane in the next 6-9 months... hopefully not.

Buy at Amazon

Sabrent 1TB Rocket NVMe 4.0 Gen4 PCIe M.2 Internal SSD (SB-ROCKET-NVMe4-1TB)

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* Prices last scanned on 7/24/2021 at 2:37 pm CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.
NEWS SOURCE:tomshardware.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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