As more retail computer hardware stores enter this booming market, cryptocurrency miners in Singapore can now buy their rigs pre-assembled right at the mall. This is yet another example of how retailers are diversifying away from traditional customers like PC gamers, all because of the allure of cryptocurrency profits.
Mining Mall in Singapore
Cryptocurrency mining hardware is available for purchase in a Singapore mall.
Many of Singapore’s computer spare parts retail shops are located in the Sim Lim Square complex.
According to a report from the region, at least five computer stores in Singapore’s Sim Lim Square are now selling cryptocurrency mining rigs. The six-story complex is best known for attracting tourists from all over Asia with its low-cost electronics, bargain shopping, and numerous computer parts and service shops. Singaporeans, on the other hand, want more cryptocurrency hardware than a knockoff phone or gaming laptop these days, and local businesses are responding to this demand.
Wilson Josup, the owner of one of the shops, sells about ten rigs per week, up from one or two when he first started selling them about six months ago. According to customer testimonials, letting a S$4,000 rig run nonstop for a month can earn around S$400. He told the South China Morning Post that his clients range from those in their twenties to retirees. “Most of my customers would ask me to assist them in moving their rigs from their homes to a data center because they don’t like the heat or noise,” Josup explained, adding that his profit margin on each rig was around 10%.
Trecia Tay, another store owner, says she hasn’t sold any mining rigs yet, but she says she now gets about ten inquiries about them every week, up from just three months ago.
Cryptocurrency mining hardware is sold in Singapore computer stores. Singapore serves as a global regulatory, financial, and logistics hub for many Asian companies right at the mall. When China’s government threatened to crack down on bitcoin-related activities under its jurisdiction, a number of Chinese companies, including bitcoin exchanges and miners, relocated to the island nation. If the country