Daily Management Review

Experts warn of shortage of hard drives due to a new cryptocurrency


The growing popularity of the new cryptocurrency ChiaCoin could lead to a shortage of hard drives around the world, analysts forecast.

Raimond Spekking
Raimond Spekking
Users in China have started to buy hard drives and SDD-drives in droves, with discs measuring 4 terabytes to 18 terabytes being the most popular, according to the website. 

ChiaCoin, created by BitTorrent founder Bram Cohen, cannot be traded in the country yet, but miners have already started buying devices for the future. Given the concentration of manufacturing in China, the shortage of drives will first affect the domestic market and then spill over to the foreign market.

Earlier it was reported that Beijing's plans to reduce harmful emissions into the atmosphere were threatened by Bitcoin mining. China accounts for 75 per cent of global mining. 

Chinese President Xi Jinping said last year that the country was aiming for a peak in carbon emissions by 2030 and would achieve carbon neutrality by 2060. However, uncontrolled mining could derail those plans.

source: wccftech.com