The Coronavirus pandemic has driven people to take advantage of new business lines to deal with the economic crisis, and cryptocurrency is once again a headliner. Internet cafe owners in China are using their facilities to set up crypto mining farms after temporarily shutting down in 2020.
Owners Are Earning Around $6,200 Monthly
According to Sina, quoting a recently published report, almost 13,000 internet-fueled cafes that operate 24 hours a day, are depending on their high-end computers to mine digital assets, as their PCs were originally conditioned for gamers.
Some of them claim to earn over 40,000 yuan ($6,200) worth in virtual currencies on a monthly basis.
The report states that some owners are even using 200 computers to run mining operations. Wang Xi, a Chinese internet cafe proprietary, commented that the attendance in his business is still â€œnot high.â€
â€œWorking days are less than 50%, and mining is done when computers are idle,â€ he added.
The cafe-based mining farm owner claims to have earned over 200,000 yuan ($31,000) since September 2020. He stated that some of his colleagues turned to digital asset mining because of its profitability:
He also provided further technical details on his mining rig:
South Korean Internet Cafe Owners Are Also Profiting From Crypto Mining
Another owner quoted by the report, Zhang Li, who talked under a pseudonym, believes â€œmining is definitely the best choice that can be made within the scope of limited resources.â€ Crypto mining already allowed him to yield profits of around $7,750 monthly.
This maneuver to deal with the pandemic-driven crisis is not the first-of-its-kind in Asia. As Bitcoin.com News reported early this year, cafe internet owners, known as â€œPC bangs,â€ in Seoul, South Korea, are mining ether (ETH). The PC bangs are also relying on highly-end computers with top-notch graphic cards in the wake of the Covid-19 crisis.
What are your thoughts on Chinese PC cafe internet owners turning into crypto mining? Let us know in the comments section below.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.