Chia Mining Craze Easing, But HDD Pricing Still Rising

The Chia Coin cryptocurrency craze led to an almost immediate shortage of many popular hard drives, and the resulting price hikes were intense. Now Chia appears to be slowing down, which should result in reduced demand for high-capacity HDDs and high-endurance SSDs. We examined how the slowed Chia expansion and improved HDD supply have affected retail HDD pricing, but while some pricing has come down over the last month, it turns out that most drives are still selling far over their MSRP. In some cases, pricing has even increased. 

The Chia-driven storage crisis unfolded at breakneck speed. In just about a month, from late April to early June, the space allocated to the Chia network increased from 1 exabyte to 16 exabytes. Since the largest HDD makers sell only 30% to 40% of their products via distributors and retailers, the steep increase in demand immediately caused a shortage, and pricing skyrocketed.

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