Topic: BITCOIN MINING – CUTTING COSTS CAN HURT | Dailysatoshi.com (Read 1063 times)
looking at how well my ant farm is mining atm i think that the home mining is coming to an end sometime next year unless some new breakthrough chip comes available.
TL;DR
Here is the conclusion:
Here is the conclusion:
Quote
You may be a new-world company, but you still have to take care of old-world problems like fir [sic] and industrial safety.
Is there a question or something?
BITCOIN MINING
Bitcoin mining in early years was mostly done by computer geeks on their computers. With bitcoin’s price increasing, this was soon replaced by mining on ASICs – Application Specific Integrated Circuits. Individual mining became replaced by companies setting up mining farms. Warehouses full of specialized ASICs continued to mine bitcoins continuously
With mining becoming more competitive, the emphasis of mining companies turned to cutting costs. Running costs, primarily electricity, are a huge component of overall mining costs. So companies have relocated their mining farms to countries where electricity is readily available. Iceland, with its abundant and cheap electricity, generated from renewable sources of energy, provides an attractive location for mining farms.
Readfull article: http://dailysatoshi.com/2014/11/cutting-costs/
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