Cryptocurrency miners in Singapore can now buy their rigs pre-assembled right at the mall as more retail computer hardware shops enter this booming market. This is another strong sign of how retailers are diversifying away from their traditional costumers such as PC gamers, all due to the allure of cryptocurrency earnings.
Singapore Mining Mall
At least five computer stores are now selling cryptocurrency mining rigs in Singapore’s Sim Lim Square, according to a report from the region. The six-story complex is mainly known for attracting tourists from around Asia with its cheap electronics, shopping bargains, and many computer spare parts and service shops. However, Singaporeans these days want more cryptocurrency hardware than another knockoff mobile phone or gaming laptop, and local businesses are adopting to meet this demand.
One shop owner, Wilson Josup sells about ten rigs on a weekly basis, up from just one or two when he first started selling them about six months ago. He said that based on customer testimonials, letting a S$4,000 rig operate non-stop can earn around S$400 a month. And clients range from those in their 20s to retirees, he told the South China Morning Post. “Most of my customers would ask me to help transfer the rigs from their homes to a data center because they don’t like the heat and noise,” noted Josup, adding that his profit margin on each rig was around 10%.
Another store owner, Trecia Tay, has yet not sold any mining rigs but explains she now receives about ten inquiries about them every week, five times the amount of questions from just three months ago…