RATE Group | We were selling 53 cryptocurrency mining rigs per day – South African retailer
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We were selling 53 cryptocurrency mining rigs per day – South African retailer

26 Aug We were selling 53 cryptocurrency mining rigs per day – South African retailer

Posted at 08:30h in Cryptocurrency News by

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2017 was a great year for cryptocurrency investors, including those who bought mining rigs.

It was even better for those selling the mining hardware, however, as demand for GPU mining rigs and ASICs (Application-Specific Integrated Chips) skyrocketed.

As the price of cryptocurrency continued to climb, demand for mining rigs increased dramatically – greatly affecting the global graphics card market.

Hardware previously used mostly by gamers had become the favoured tools of cryptocurrency miners, and a shortage of graphics card stock quickly occurred.

This gold rush was great news for companies like Bitmart, which sells ready-made cryptocurrency mining rigs to consumers.

MyBroadband spoke to Bitmart CEO Jacques Serfontein about the current state of the cryptocurrency mining market compared to its peak in 2017.

Massive sales

At the height of the cryptocurrency mining mania, Bitmart was selling a huge number of ASIC miners and GPU mining rigs.

The company delivered over 7,000…

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