Higher cryptocurrency prices recently have restored interest in digital coin minting in Vietnam. Crypto mining is once again seen as an investment opportunity with other options being limited by the ongoing coronavirus pandemic that has been affecting the Asian country.
Vietnam’s Sales and Prices of Crypto Mining Rigs Spike in September
Demand for crypto mining equipment has increased in Vietnam following the market recovery that saw the price of BTC moving back above the $50,000 threshold, Vnexpress reported. Prices of hardware used to mint bitcoin, ethereum, and other cryptocurrencies have also risen as many Vietnamese miners are now looking to buy mining components.
Speaking to the online newspaper, Quang Thuan, owner of several crypto hardware shops in Ho Chi Minh City, noted that a few months ago the mining rig market was gloomy after the leading cryptocurrency fell below $30,000 in July. However, he revealed that his sales have tripled earlier this month compared to the August volumes.