Singapore's largest shopping center successfully sells equipment for mining crypto-currencies

Singapore’s Largest Shopping Center Successfully Sells Equipment For Mining Cryptocurrencies


From now on, crypto-currency miners in Singapore can buy pre-assembled equipment for mining directly in shopping malls. Retail stores for computer equipment are in a hurry to enter this rapidly growing market. This is another clear sign that retailers are expanding their clientele, moving away from the traditional segment of customers, such as computer gamers. The reason for this is the growth in profits from crypto-currency trading.

Local media say that at least five computer stores located in a shopping center on Sim Lim Square in Singapore are now selling equipment for mining farms.

The six-story shopping center in Sim Lim Square is famous for tourists from all over Asia who are attracted by cheap electronics, discounts, a wide range of spare parts and repair services. However, now Singaporeans and tourists have equipment for mining much more than new fake mobile phones or laptops for games, and local businesses are trying to meet their needs.

As an example, you can point to the owner of one of these stores, Wilson Josup, who now sells about ten mining farms a week, although six months ago, when he was just beginning to trade with them, he managed to sell no more than one or two. According to him, clients acknowledge to him that the round-the-clock work of a mining farm worth $ 4,000 brings a monthly profit of $ 400. In an interview with the South China Morning Post, Josup said that among his clients there are very different people – from twenty-year-olds to pensioners. The store owner says: “Most of my customers are asking me to help them move the mining farms from their homes to data centers because they do not like that the equipment is noisy and heats up the air.” According to Josup, the amount of profit that he receives from each sale of the farm is 10%.

Another owner of the store, Tresya Tei, has not sold a single mining farm, but says that every week receives ten applications for this equipment. According to her, in three months demand has increased five-fold.

Currently, Singapore is a global regulatory, financial and logistics hub for many Asian companies. When the Chinese authorities threatened to ban all crypto-currency activity within their jurisdiction, many Chinese businessmen, including crypto-currency exchanges and miners, officially migrated to the island state.

It’s not just about Singapore. Miners crypto currency have flooded the market of retail trade in computer equipment all over the world. This is evidenced by the fact that the largest chip maker Nvidia recently asked retailers to ensure that its products fall into the hands of gamers, not miners.

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