“Price fluctuations in Chia have forced investors to sell their equipment at a loss, as there are more sellers than buyers,” said Hoang Chung, community administrator.<\/p>\n<\/blockquote>\n
In mid-May, Chia was priced at $1,551, according to CoinGecko. By the end of the month, it had lost half of its value. At the time of writing, the coin was trading around $243.<\/p>\n
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<\/p>\nData: CoinGecko<\/a>.<\/p>\n<\/div>\n Amid the hype, the price of 6 TB HDDs jumped to almost $300. Now miners are selling these devices for $110. And, judging by the trajectory, prices will continue to fall.<\/p>\n The situation is more challenging for SSD owners, as Chia mining significantly accelerates wear and tear.<\/p>\n According to experts, mining reduces the lifespan of a 512 GB SSD from five years to two months.<\/p>\n Chia Network, created by Bram Cohen, the author of the BitTorrent protocol, uses the Proof-of-Space and Proof-of-Time consensus algorithms. In April, due to a surge of interest in the coin, miners created a local shortage of HDDs and SSDs in China<\/a>.<\/p>\n The coin was positioned by its creators as an environmentally friendly cryptocurrency. They argued that hard drives and solid-state drives are easier to source and consume far less energy.<\/p>\n As of now, according to Chia Explorer<\/a>, the coin occupies disk space of 41.3 exabytes \u2014 more than 2.5 million HDDs with 16 TB capacity.<\/p>\n\n