World’s Third Most Powerful Data Center For Bitcoin Mining - page 2.

unamis76

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Quote from: OmegaStarScream on November 06, 2016, 02:29:06 PM

Quote from: arcanaaerobics on November 06, 2016, 02:17:42 PM

Very big, ah? What's the total investment?

What a challange for all miners... But what about the 51% attack question?

Quote from: unamis76 on November 06, 2016, 01:48:36 PM

Very interesting, is this the datacenter that was discussed around here previously that was a co-ownership and that at full capacity would have a huge share of the networks hashrate? If so I guess this is further proof why they won't have 50%+ hashrate, it's not going to be exclusively for mining Bitcoin...

I guess Bitmain just wants to venture in other things beyond Bitcoin and they do very well. Using renewable energies is also very good. I wonder if they can run miners cheaper than, say, HaoBTC.

Also, this thread should probably be on mining since it talks about something that is designed to (also) be a mining facility

I was going to ask the exact same question after posting this , I checked the comments on the blog post I gave the link to above and here is what It says :

I'm not sure If I got this right but If they did they would have between 51% & 75% haspower , wouldn't that screw us all ?

So I guess this is the same facility that came in the news around here a while ago. I remember seeing in the thread that they would have around 60% hashrate using their peak power. I'll link that if I find it again.

Yes, that would "screw us all", it would definitely be bad for Bitcoin. But they can't fill the facility with miners in a "timely manner" for them to be a danger to the network stability. High number of miners have to be deployed strategically and a few at a time. I'm not even sure if there's software that can handle all those miners in one single facility in an easy to maintain way. It's not feasible for them to have in something like a months time enough hashrate on that facility for them to be a danger to the network. Secondly, the facility won't exclusively serve Bitcoin or cryptocurrency mining. So I don't think this poses any danger to network stability.

MingLee

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Quote from: OmegaStarScream on November 06, 2016, 01:39:55 PM

The planned data center would be capable of consuming up to 135 megawatts of power, which will add it to the list of the highest powered data centers in the world. Wind and solar energy would be the primary source of power for the data center. It is specially designed for high-performance computing and, considering the interest of most investors in the data center, mining of cryptocurrencies such as Bitcoin will be its major application.

Here is the article from Bitmain blog : https://blog.bitmain.com/en/bitmain-to-set-high-standards-with-state-of-the-art-xinjiang-data-center/

Well, I guess it's an interesting investment and kind of a neat project, but I'm curious as to how something like that is going to make a lot of its money back. Even though a lot of it will be using renewable energy, that's still a stretch. I would assume a lot of money is going to be poured into this thing.

OmegaStarScream

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Quote from: arcanaaerobics on November 06, 2016, 02:17:42 PM

Very big, ah? What's the total investment?

What a challange for all miners... But what about the 51% attack question?

Quote from: unamis76 on November 06, 2016, 01:48:36 PM

Very interesting, is this the datacenter that was discussed around here previously that was a co-ownership and that at full capacity would have a huge share of the networks hashrate? If so I guess this is further proof why they won't have 50%+ hashrate, it's not going to be exclusively for mining Bitcoin...

I guess Bitmain just wants to venture in other things beyond Bitcoin and they do very well. Using renewable energies is also very good. I wonder if they can run miners cheaper than, say, HaoBTC.

Also, this thread should probably be on mining since it talks about something that is designed to (also) be a mining facility

I was going to ask the exact same question after posting this , I checked the comments on the blog post I gave the link to above and here is what It says :

I'm not sure If I got this right but If they did they would have between 51% & 75% haspower , wouldn't that screw us all ?

arcanaaerobics

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Very big, ah? What's the total investment?

What a challange for all miners... But what about the 51% attack question?

unamis76

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Activity: 1512

Merit: 1012

Very interesting, is this the datacenter that was discussed around here previously that was a co-ownership and that at full capacity would have a huge share of the networks hashrate? If so I guess this is further proof why they won't have 50%+ hashrate, it's not going to be exclusively for mining Bitcoin...

I guess Bitmain just wants to venture in other things beyond Bitcoin and they do very well. Using renewable energies is also very good. I wonder if they can run miners cheaper than, say, HaoBTC.

Also, this thread should probably be on mining since it talks about something that is designed to (also) be a mining facility

OmegaStarScream

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The planned data center would be capable of consuming up to 135 megawatts of power, which will add it to the list of the highest powered data centers in the world. Wind and solar energy would be the primary source of power for the data center. It is specially designed for high-performance computing and, considering the interest of most investors in the data center, mining of cryptocurrencies such as Bitcoin will be its major application.

Here is the article from Bitmain blog : https://blog.bitmain.com/en/bitmain-to-set-high-standards-with-state-of-the-art-xinjiang-data-center/

Topic: World’s Third Most Powerful Data Center For Bitcoin Mining - page 2. (Read 2409 times)