Singaporean Mining.sg Reports Increasing Hardware Demand

Mr. Dexter Ng of Singaporean company Mining.sg has reported growing demand for his company’s cryptocurrency mining hardware. Mr. Ng told Channel News Asia that “customers come in and order 50 rigs on their own.”

Also Read: Central Bank of Singapore Sees No Reason to Regulate Cryptocurrencies

It Has Been Reported That Singaporean Demand for Mining Hardware Is Increasing

Singaporean Mining.sg Reports Increasing Hardware DemandMr. Ng’s business began when he and his friends started making powerful computers specifically built for cryptocurrency mining. The 29-year old stated they then “posted photos online, on Facebook, and people started asking how much is this and they wanted [to] buy it… So I sold it to people who queried on Facebook, and after a while, we started selling many on Facebook, so we decided to incorporate this company.”

Mr. Ng reports experiencing a recent sudden spike in demand for his company’s cryptocurrency mining rigs. In recent months, the company reports having sold approximately 100 rigs per month – a significant increase from the 15 units that company sold in July of this year. Mr. Ng states that previously “probably one person only buys one or two. Now we get customers who buy 10, 20 or even 50.”

Mr. Ian Chan, a customer of Mining.sg, describes his initial trepidation when deciding to invest in cryptocurrency mining hardware. “Calculating the percentage of return is one thing but what if this machine every day gives me issue, where I need to debug or whatever. Then to me, am I buying something that I need to work on every day? From that angle, if I start with buying 20 units, then my problem multiplied 20 times. Read More Here