Demand for mining equipment is growing in Vietnam

Demand for mining equipment is growing in Vietnam

Vietnamese miners have significantly increased purchases of mining equipment against the backdrop of the growth of the cryptocurrency market. We are talking about both ASIC miners and video cards.

According to Quang Thuan, owner of a computer store chain in Ho Chi Minh City, sales of mining equipment tripled in early September. This was facilitated by the growth of the bitcoin rate, which reached $ 50 in early September.

“Firstly, the rates of bitcoin, ether and other cryptocurrencies have grown significantly, and miners have begun to receive more profit. Secondly, the coronavirus pandemic continues, which reduces the number of investment options. Many people choose to invest in mining, ”says Le Hung, the administrator of the mining group, which has more than 80 members.

Ngoc Van, owner of a mining farm in the southern province of Dong Nai, said the farm cost him $ 130 and hopes to recoup the investment in six months.

The best sellers in Vietnam are “self-assembled” farms based on AMD or Nvidia video cards. As a rule, this is a regular computer with several video cards. The cost of such a farm is about $ 4 on average.

According to the analytical company Chainalysis, it is Vietnam that is the world leader in the adoption of cryptocurrencies.