Singapore Mall Sells Cryptocurrency Mining Hardware

Cryptocurrency miners in Singapore can purchase their pre-assembled equipment at the mall as retail computer hardware stores enter this market.. This is an indication of how retailers are turning away from their traditional customers like computer gamers, all driven by the lure of cryptocurrency earnings.

Singapore Mining Mall

According to a report in the region, there are currently at least five computer store sells cryptocurrency mining equipment in Singapore’s Sim Lim Square. The six-story complex with cheap electronics, shopping bargains, many computer spare parts and service shops is known for attracting tourists mostly from Asia.. However, Singaporeans are demanding more cryptocurrency hardware from their mobile phones or laptops these days, and local businesses are trying to adapt to meet that demand.

A shopkeeper Wilson Josup, six Until a month ago it only sold one or two pieces of equipment, now it sells almost 10 pieces of equipment a week.. According to customer testimonials, equipment that costs $4000 can earn around $400 per month without stopping.. Also stating that his clients range from the 20s to the retirees, Josup told the South China Morning Post:

“Many of my clients ask me to help transfer their equipment from their homes to their data centers. they want it because they don’t like heat and noise. Also, the profit rate on each piece of equipment is 10%”.

Another store owner, Trecia Tay, has not yet sold any mining equipment. however, he said he currently receives about ten equipment requests each week, five times as many requests as three months ago this week alone.

Background

Singapore is a global destination for many companies in Asia. It serves as a regulatory, financial and logistics center.. A number of Chinese businesses were transferred to the islanders, including Bitcoin exchanges and miners, as the Chinese government began to grumble about Bitcoin-related activities within its jurisdiction.. The country will benefit even more from this trend if it continues to maintain a suitable and stable regulatory environment.

Outside Singapore, this story shows how cryptocurrency miners crowd the retail computer market all over the world.. However, GPU manufacturer Nvidia recently asked retailers to take measures to ensure that their products fall into the hands of players, not miners.

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