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Seagate and Western Digital Increase Hard Drive Release to Meet Chia Demand

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The demand for hard drives has increased significantly recently due to the mining of the Chia cryptocurrency, which has caused a serious shortage and a rise in retail prices. In an effort to meet this demand, Seagate and Western Digital are expanding their production of high-capacity hard drives by increasing the utilization of existing production lines.

Opportunities for scaling up production in the short term are limited due to wholesale contracts accounting for 60-70% of total production, and neither company plans to build new plants in the near future.

Meanwhile, the total storage allocated for Chia mining recently exceeded EB 20. In April, it was equal to 1 EB and so far shows no signs of slowing growth. For comparison: in the first quarter, more than 64 million hard drives with a total volume of 288 EB were shipped worldwide.

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