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Cryptocurrency mining rigs are now available in a Singapore Mall

Jan 29, 2018 Posted /  2694 Views

Cryptocurrency mining rigs are now available in a Singapore Mall

Not long before a cryptocurrency mining was understood by only a few and assembling the computer hardware for the purpose of mining was exclusive. But as the world advances in 2018, you will now find pre-assembled rigs at the mall. Yes, you heard it right!

Sim Lim Square Complex, which gives space to many of the biggest computer hardware retail shops of Singapore is witnessing resounding publicity in the growing cryptocurrency market. At least five of the retails shops in this mall who are famous for providing computer spare parts are now selling cryptocurrency mining rigs. This report was given spotlight by the local media, as it presents a positive light for the cryptocurrency future in the country.

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This is also significant in the sense as it additionally presents another strong sign that how retailers are broadening their perception and expanding apart from their conventional customers which include likes of PC gamers.

Singapore Mining Mall

Sim Lim Square Complex is a six-story complex, which majorly attracts tourists from around Asia with its affordable electronics, purchasing bargains, and an assorted range of computer spare parts and service shops. Nonetheless, these shops are witnessing rising demands from the Singaporeans who want more cryptocurrency hardware than mobile phones, laptop or gaming hardware, which is why the local computer shops are adapting to this demand.

You would be surprised to know the purchasing data from these shops as one shop Wilson Josup, tells that he sells about ten rigs on a weekly basis. Interestingly, he narrates that when he first started selling six months back, it was just one or two at that time, but the demand soared in no time. He states that depending on customer testimonials, permitting a S$4,000 rig to operate non-stop can fetch around S$400 a month. He adds that the clients are not specifically very young, they range from all age groups including those in their 20s to retirees. In a roundup with the South China Morning Post Josup states that

“Most of my customers would ask me to help transfer the rigs from their homes to a data centre because they don’t like the heat and noise,” which means it furthers his profit margin on each rig at around 10%.

Trecia Tay who is yet another store owner at the mall, tells that even though the store has not till now sold any mining rigs but they take about ten inquiries about these rigs every week. She mentions that these queries have raised five times the volume of questions that were three months ago.

The Singaporean Love

Many in Asia reckon Singapore has one nation which serves as a global regulatory, financial and logistics hub for many companies in the continent. Interestingly, when the government of China begun a clampdown on bitcoin and associated activities under its jurisdiction, a great number of Chinese businesses precisely relocated to the island nation which also included bitcoin exchanges and miners. If the other Asian nations continue to hold this stance, the country will benefit much as it persistently had favoured digital currencies and will provide a kind and resolute regulatory environment.

If we are to just leave out Singapore from this story, this news also illustrates that the computer hardware retail industry is having a confident attitude for cryptocurrency miners who are overcrowding the computer market all around the world.

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Tags: Cryptocurrency Market computer hardware Cryptocurrency Mining Singapore

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