Blogger estimates the cost of a Chia mining rig ahead of its trading launch

A user of the Overclockers portal calculated that, due to rising difficulty, mining a single Chia coin with 1 TB of storage will take more than 150 days.

A 200 TB storage will yield one coin every 18 hours. The blogger noted that the calculations may be affected by “force majeure and other unforeseen circumstances”.

Source: Overclockers.

Accounting for the price of a 14 TB HDD from Dell, the blogger estimated the 200 TB rig at 1.2 million rubles (more than $15,800 at the time of writing).

Source: Overclockers.

Total storage capacity used for mining the Chia cryptocurrency increased tenfold over the month—from 120 petabytes to 1.14 exabytes. That is equivalent to the volume of 63,333 20 TB hard drives, reports Tom’s Hardware.

Source: Chia.

According to the portal’s calculations, creating a single plot (or plot unit) requires about 109 GB of disk space and 4 GB of RAM. To simultaneously create a hundred plots, 400 GB of system memory would be required.

To meet miners’ demand, the Chinese company Onda introduced the Onda B365 D32-D4 Magic Edition motherboard. It allows up to 32 SATA hard drives and solid-state drives to be connected simultaneously, with a total capacity of up to 448 TB.

Trading of the Chia coin (XCH) is scheduled to begin on Monday, May 3, at 20:00 MSK.

The Chia Network, created by BitTorrent founder Bram Cohen, uses the Proof-of-Space and Proof-of-Time consensus algorithms [Proofs of Space and Time].

Earlier ForkLog reported that Chia miners created a local HDD and SSD shortage in China. The local maker of solid-state drives Galax warned users that will refuse warranty service for the SSDs on which Chia was mined.

Follow ForkLog news on Telegram: ForkLog Feed — the full news ticker, ForkLog — the most important news, infographics and opinions.