{"id":192627,"date":"2021-06-11T02:15:20","date_gmt":"2021-06-11T01:15:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=192627"},"modified":"2021-06-10T19:01:11","modified_gmt":"2021-06-10T18:01:11","slug":"green-mining-crypto-chia-network-causes-hdd-revenues-to-skyrocket-by-240","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/green-mining-crypto-chia-network-causes-hdd-revenues-to-skyrocket-by-240\/","title":{"rendered":"&#8216;Green mining&#8217; crypto Chia Network causes HDD revenues to skyrocket by 240%"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Growing demand for hard and disk drives has been recorded ever since the <\/span><a href=\"https:\/\/cryptoslate.com\/much-awaited-green-cryptocurrency-chia-has-launched-and-you-can-mine-it-at-home\/\"><span style=\"font-weight: 400;\">appearance<\/span><\/a><span style=\"font-weight: 400;\"> of the \u201cgreen\u201d cryptocurrency Chia (<\/span><a href=\"https:\/\/cryptoslate.com\/coins\/chia-network\/\"><span style=\"font-weight: 400;\">XCH<\/span><\/a><span style=\"font-weight: 400;\">), which utilizes spare storage space for verifying blockchain transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This year\u2019s April analysis performed by research company <\/span><a href=\"https:\/\/www.contextworld.com\/\"><span style=\"font-weight: 400;\">Context<\/span><\/a><span style=\"font-weight: 400;\"> revealed a monster sales growth as the demand for high capacity storage space gear exploded, compared to April 2020.\u00a0<\/span><\/p>\n<h2><strong>Sales in numbers<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">The year-on-year data showed a staggering 240% sales growth as under 200,000 enterprise-grade nearline storage drives of 10TB capacity and above were sold.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In addition, a 167% sales increase was recorded as around 250,000 NAS consumer-grade HDDs were sold, while surveillance disk drive gross sales almost reached 200,000, going up 116%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;For sure it is Chia,&#8221; said Gurvan Meyer, a senior enterprise analyst at Context, to <\/span><a href=\"https:\/\/www.theregister.com\/2021\/06\/08\/chia_cryptocurrency_creates_euro_hdd_boom\/\"><i><span style=\"font-weight: 400;\">The Register<\/span><\/i> <\/a><span style=\"font-weight: 400;\">news, adding that such an upswing in demand following the launch of Chia took everybody by surprise, including major hard and disc drives manufacturers like <\/span><a href=\"https:\/\/www.westerndigital.com\/\"><span style=\"font-weight: 400;\">Western Digital<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/www.seagate.com\/de\/de\/\"><span style=\"font-weight: 400;\">Seagate<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWe added something that we actually were not fully expecting, that was an increase in the crypto farming demand,\u201d <\/span><a href=\"https:\/\/seekingalpha.com\/article\/4433785-seagate-technology-plc-stx-management-presents-bank-of-america-merrill-lynch-2021-global\"><span style=\"font-weight: 400;\">said<\/span><\/a><span style=\"font-weight: 400;\"> the Seagate CFO Gianluca Romano, whose company\u2019s stock is on the <\/span><span style=\"font-weight: 400;\">rise<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Western Digital experienced a <\/span><a href=\"https:\/\/www.marketwatch.com\/investing\/stock\/wdc\"><span style=\"font-weight: 400;\">stock<\/span><\/a><span style=\"font-weight: 400;\"> boost as a positive side effect of the exploded demand as well.<\/span><\/p>\n<h2><strong>Finding space for green farming<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Created by BitTorrent inventor Bram Cohen, Chia addresses the energy consumption culprits of industry-grade mining as it is based on the so-called \u201cproofs of space and time\u201d consensus algorithm, a more energy-efficient alternative to the widely used proof-of-work (PoW) and proof-of-stake (PoS).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Simple and eco-friendly home mining or \u201cfarming\u201d of Chia doesn\u2019t require substantial caches for its staking, nor over-budget hardware since its algorithm relies on high-capacity SSDs or HDDs.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Chia witnessed its highest price on the 15th of May by crossing the $1600 mark but has since experienced a continuous dive, with a 49.05% drop during the past month. <\/span><span style=\"font-weight: 400;\">Will Chia's plunge slow down farming gear purchases and lower down the HDD prices that have been skyrocketing in the meantime?<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Growing demand for hard and disk drives has been recorded ever since the appearance of the \u201cgreen\u201d cryptocurrency Chia (XCH), which utilizes spare storage space for verifying blockchain transactions. This year\u2019s April analysis performed by research company Context revealed a monster sales growth as the demand for high capacity storage space gear exploded, compared to [&hellip;]<\/p>\n","protected":false},"author":699,"featured_media":192635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[76810],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&#039;Green mining&#039; crypto Chia Network causes HDD revenues to skyrocket by 240%<\/title>\n<meta name=\"description\" content=\"Growing demand for hard and disk drives since the appearance of the \u201cgreen\u201d crypto Chia (XCH)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/green-mining-crypto-chia-network-causes-hdd-revenues-to-skyrocket-by-240\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;Green mining&#039; crypto Chia Network causes HDD revenues to skyrocket by 240%\" \/>\n<meta property=\"og:description\" content=\"Growing demand for hard and disk drives since the appearance of the \u201cgreen\u201d crypto Chia (XCH)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/green-mining-crypto-chia-network-causes-hdd-revenues-to-skyrocket-by-240\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-11T01:15:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-06-10T18:01:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/06\/chia-ssd-shortage.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Ana Grabundzija\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ana Grabundzija\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/green-mining-crypto-chia-network-causes-hdd-revenues-to-skyrocket-by-240\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/green-mining-crypto-chia-network-causes-hdd-revenues-to-skyrocket-by-240\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#person\",\"name\":\"Ana Grabundzija\",\"url\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/ana-grabundzija\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/05\/cs-author-ana-300x300.jpg\",\"caption\":\"Ana Grabundzija\"},\"jobTitle\":\"Journalist\",\"description\":\"Dr. Ana Grabundzija is a Zagreb-bred writer with an academic background in anthropology. 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