Amazon rolls out Chia mining solution on AWS platform

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Retail giant Amazon has launched a solution focused on Chia (XCH) crypto mining on its AWS cloud computing platform.

The campaign page on the Amazon AWS Chinese site says, in as fast as five minutes, users can deploy a cloud-based storage system to start mining the native cryptocurrency of the Chia network.

In addition, a quick tutorial is also provided on the page for a number of related activities such as generating a Chia wallet, creating a plot, and introduction to a farm (mining). However, it would appear that the new Amazon service is only targeting Chinese users because the page advertising can only be viewed in simplified Chinese language.

A potential crisis in the supply of storage devices

There is no definite information as to when Amazon started advertising its latest solution offering, but it is another indication of increasing attention and interest that Chia mining continually gets, especially from Chinese investors.

Last month it was reported that retail investors in China jumped into the Chia mining frenzy, and as a result, various models and brands of hard drives have seen price surges, with some even increasing at a rate of 100%.

At the moment, there is no problem with the supply of such storage devices, but it is feared that some dealers and wholesalers might hoard their stocks in an attempt to manipulate prices.

An immediate increase

The Chia decentralized storage network was founded in 2017 and was designed to rely on the use of computer hard and solid-state drives for mining (farming) its native cryptocurrency Chia (XCH), replacing the proof-of-work mechanism utilized by Bitcoin (BTC).

Within the last two months, the storage power that is already mining on the network has climbed to 1 Exabyte (EB) or equal to 1 million units of 1 Terabyte (TB) hard drive.

Meanwhile, as of press time, XCH’s price was at $1,365, CoinGecko said.

Image courtesy of Crypto World/YouTube

Jet Encila

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Jet Encila

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