A step-by-step guide to starting an industrial scale bitcoin mining operation, using GRC's HashTank. Bitcoin mining is 24/7/365 work. (Aurelien Foucault for Quartz) The bitcoin mine and the industrial firms have one thing in common: They use a lot of electricity. This is what a bitcoin mining accident looks like. A bitcoin mining facility in Thailand has been destroyed in a massive fire this week and foul play has not been.
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Will Industrial Mining Become the Next Big Bitcoin Investment Sector?This is what a bitcoin mining accident looks like. A bitcoin mining facility in Thailand has been destroyed in a massive fire this week and foul play has not been. In the world there are more companies involved in industrial bitcoin mining. This article focuses on one of these by fairider1. Bitcoin Mining Hardware Guide The best Bitcoin mining hardware has evolved dramatically since 2009. At first, miners used their central processing unit (CPU) to mine. The Future of Bitcoin Mining. The greatest threat to industrial mining over the next decade will be the rise of embedded / integrated low powered mining.
A step-by-step guide to starting an industrial scale bitcoin mining operation, using GRC's HashTank. In the world there are more companies involved in industrial bitcoin mining. This article focuses on one of these by fairider1. This is what a bitcoin mining accident looks like. A bitcoin mining facility in Thailand has been destroyed in a massive fire this week and foul play has not been.
In the world there are more companies involved in industrial bitcoin mining . This article focuses on one of these industrial mining farms operating in Hong Kong.
In the industrial area near the huge port of Hong Kong is one of Asia's biggest companies bitcoin mining quietly turns the computing power in the digital currency .
Located eight miles from the city's financial center, Kvaychun area, this company covers an area of
no more than three-room apartment . Of all the benefits of civilization - a small toilet .
Here towering vertical racks with hundreds of ASIC- chips . These specialized chips have replaced the previously used on the network Bitcoin general purpose computers , and they are specifically designed solely for the Bitcoin Mining .
These racks hundreds of ASIC chips work intended for bitcoin - of mining .
You may ask , what kind of work is done bitcoin farm ? Dedicated server is carried out calculations, ensure the safety of the entire Bitcoin network , and as a prize sometimes " extract " a little bit of this digital gold .
Bitcoin was created in 2009 by an unknown programmer , used the pseudonym Satoshi Nakamoto . This digital currency can be bought and sold anonymously and without intermediaries . The number of merchants that accept payment bitcoins , is constantly growing : you can pay Bitcoin for web hosting services , pizza , manicure and even a car .
However , in addition to the purchase bitcoins , their users can " extract " using their computers for solving complex mathematical problems defined bitcoin algorithm.
Machinery for mining , set near the port Kvaychun , is extremely quiet - only a slight audible " grunt " computers ..
Machinery for mining , set near the port Kvaychun , is extremely quiet - only a slight audible " grunt " of computers.
Chinese investors were among the first enthusiastic about bitcoin: in this country there is a shortage of more traditional investment vehicles. Bitcoin solves several problems of Chinese investors. First, it allows better protect the purchasing power of their savings than the yuan exchange rate and interest on deposits which are deliberately understated by the Chinese government. Second, it allows them more financial freedom to purchase and transfer their funds around the world than non-convertible yuan and the bank account to which the severe restrictions on foreign transfers.
However , the Chinese central bank was not happy about the investment bitcoin euphoria , and began to turn the nut . As a result , Chinese bitcoin exchange will face hard times . However, bitcoin mining and investments in mayningovye companies are still working option for Chinese investors who want to necessarily invest in the digital currency .
Racks closeup . Most of the equipment is engaged in mining for a group of investors from China .
Therefore , many observers believe that the industrial bitcoin farm ASICMINER companies in Hong Kong - is just the beginning .
The enormous computing power of industrial bitcoin farms are only intended to work on bitcoin algorithm. As income investors receive the amount of bitcoins proportional to the contribution of their equipment in the solution of the problem of calculating the new block . Currently, computer owners , the first task of choosing to receive bitcoins 25 approximately every 10 minutes.
Why Hong Kong ? It attracts miners proximity to the Chinese manufacturers of chips and a liberal regulatory environment , which is not recognized problems associated with the regulation of bitcoin in mainland China .
Bubbling liquid - is manufactured refrigerant 3M, which cools the working ASIC- chips .
Mining This farm was built by the order of investors from China by Allied Control. Kar- Wing Lau , vice president of the company , says that this farm is cheaper to use and more efficient thanks to the unique technology of "liquid cooling " . Typically, to remove heat generated by a large number of computer chips , radiators and fans are used . However, the Hong Kong Special Farm cooled liquid refrigerant , developed by 3M
Processors used in the farm , were created specifically for mining . They can not perform any calculations or other functions . "These ASIC- chips can only earn bitcoins , and nothing more " - says Lau . "Given the pace of development, we need to constantly update them."
These huge radiators, installed in the open air outside the farm , effectively dissipate the heat generated by the chips .
Efficiency - above all else. immersion cooling technology allows you to leave less space between chips in the production of Allied Control devices and thus save the cost of renting space.
This technology also reduces power consumption , which is one of the main items of expenditure under bitcoin mining . Lau did not disclose the cost of creating a farm , but said that electricity bills for fully working farm of this size are usually more than 50 000 US dollars per month .
"One of the major issues with the profitability of the business point of view - how effective your farm ," says Lau .
This photo shows the inside of the rack.
No one knows what will happen to Bitcoin in the future. Currently, the use bitcoins virtually not regulated , but the situation may change. Governments are afraid of decreasing tax revenues and the lack of control of this currency . Lawmakers are beginning to discuss what to do about the independent digital currency.
The future business related to mining , is also uncertain. There is only a limited amount of bitcoins available , more than half of which have already been " mined " . Lau compares professional surge of interest in mining the arms race .
While this activity is quite profitable . According to Lau , the company Allied Control is currently studying the feasibility of other platforms for mining , in particular farm , built in the sea container . This design may be useful if controllers still will take tough measures against this currency .
Source : CNN
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