Mining is a vital component of the bitcoin network. The bitcoin mining operation has grown from being an individual scale operation to one of an industrial scale where companies are setting up data centers with hundreds of mining ASICs, leading to a drastic increase in the sale of miners. As, the difficulty of mining operations increase, the mining units are also becoming more technically advanced.
BW.com, a Chinese bitcoin mining company has recently published an update announcing the success of its latest 14nm bitcoin AISC miners. According to the company’s announcement the first batch of their latest 14nm bitcoin miners are completely sold out and still the demand for mining hardware grows. The increasing need for more powerful mining hardware to ensure profitable mining has also resulted in BW.com coming up with other options for the bitcoin community to utilize.
BW.com announced that the company has successfully crowdfunded the development and launch of its B11 and B12 miners. In addition to mining hardware, BW.com also operates its own cloud mining operation where people can invest in the hashing power. By investing in the hashing power, the investors will be entitled to receive gains from the bitcoins mined by the operation. As a return on investment, the investors will receive freshly mined bitcoins, proportional to total hashing power they have invested in. Cloud mining operations are very useful for those who are interested in getting involved in the mining operation, except for the high costs of mining equipment involved.
The mining operations have become cost, energy and process intensive in recent days. When bitcoin was introduced, the processing power supplied by PCs were enough to mine bitcoin. But gradually people started using GPUs and specialized mining hardware, which led to an increase in the mining difficulty. Now, it is impossible to profitably mine […]
