We’ve talked about the Chia cryptocurrency several times here, so it definitely won’t be new to the vast majority of users. One of the main features of this coin is that it can be mined / grown using SSDs and hard drives, which has already taken its toll on the hardware market.
However, recent information shows that brands Seagate and Western Digital have already ramped up production of their hard drives to meet the huge demand for ChiaCoin.
As with graphics cards, Chia mining has also impacted the SSD and HDD market. The most obvious thing was that in some stores there were no goods in stock, which, as a result, led to higher prices. In addition, it has also led to a revision of the product warranties provided by some manufacturers.
And in the face of a shortage of components, some companies intend to respond to hype which became this digital currency.
Seagate and Westterm Digital Increase Hard Drive Manufacturing
To capitalize on the popularity of the environmentally friendly Chia cryptocurrency, some manufacturers are taking action. According to recent reports, Seagate and Western Digital have already significantly increased their hard drive production.
This increase is mainly happening with larger storage capacities to meet the needs of consumers for a digital currency culture.
However, production growth is limited in the short term as brands rely on wholesale contracts for 60-70% of total production. In addition, none of the companies appear to be planning to build new factories in the future.
Chia continues to grow in popularity, and while its total storage capacity was 1.14 exabytes at the end of April, the latest figures indicate that it has already exceeded 20 exabytes.
Here, we will continue to closely monitor the development of this critical situation for the industry, but especially beneficial for miners.