Chinese internet cafe possessors are turning their businesses into crypto mining hubs as social distancing measures remain. Last updated as on 18-May-2021! As per the time weekly, a vast number of 24-hour internet cafes had been created mainly for PC gamers.

Near about 13,000 internet cafes may have shut as a result of last year, the media outlet claimed, quoting statistics from the data compiler Tianyan Check.

Check out what happens-

A cafe owner in Jiangsu and Nantong asked his bank for 200 gaming computers that were now mining tokens and were now working 24 hours a day. It used to earn him over USD 6,210 worth of crypto a month. The owner specified that he had made over USD 31,000 from mining since September.

So again everyone is in a cryptocurrency boom phase again. And it's entire chaos on the GPU market. As you see, from small-scale at-home miners to huge mining farms, even using laptops in anxious attempts to get hands-on hardware to get in on the crypto boom. For the time being, a new story via @I_Leak_VN is surfacing about an internet cafe substituting for cryptocurrency mining.

In a Facebook Post, Internet Cafe Computer Star exposed that it is substituting business model to cryptocurrency mining. It is declaring that profits are higher than the internet cafe business model. This is not a strange thought when you study that they also sell PC components and so have ready access to RTX 3080s for mining.

A sole RTX 3080 GPU can produce quite important daily profits after some tuning. It is with the electricity prices in Vietnam, especially if you already have the computers, space, and electric infrastructure for it. While a single PC would generally bring in a small income per day in use by a customer. A series of GPUs associated with that PC can easily beat that income, at least with the present profitability levels on Ethereum Mining.

The current effects of COVID-19 are a major impact. With several countries still imposing business closures and social distancing measures, most of the PC stations at the cafe were sitting unoccupied. 

Shivangi Mujumdar

CBW - External Analyst

INDIA