Memory and StorageNews

ChiaCoin Storage Usage Grows to 5,000 Petabytes (0.5% if Global HDD Shipments): Price of HDDs Increases by 22%

Within just a month, the global storage usage of ChiaCoin miners has increased by five times, topping the 5,000 Petabytes or 5,000,000 TBs. This accounts for nearly 0.5% of all HDDs shipped across the world each year. In early May, the new cryptocurrency was using around 1,100 PBs of storage, but the figure has now swelled up to 5,000 PBs. If the current trend continues, then it won’t be long before the global storage consumption by Chia grows to over 10,000 PBs.

Source: Coin Market

At the moment, ChiaCoin is still trading well over the $1,000 mark, with a unit price of nearly $1,300. Over the last 15 days or so, it has consistently traded around $1,200 showing a level of stability not seen with Ether or Bitcoin. Furthermore, the volume of coins being traded has also increased significantly over the last week, pretty much quadrupling.

In line with this, the average sales prices of HDDs have also grown, with most high-capacity drives seeing an increase of around 22% in their prices across Asian markets. Most experts, however, are confident that the prices won’t increase may that what we’re seeing at present as supply is consistently able to keep up with the demand, unlike the graphics card market.

Areej

Computer Engineering dropout (3 years), writer, journalist, and amateur poet. I started my first technology blog, Techquila while in college to address my hardware passion. Although largely successful, it was a classic example of too many people trying out multiple different things but getting nothing done. Left in late 2019 and been working on Hardware Times ever since.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button