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Bitcoin mining.

Started by Bitcoin, Feb 14, 2021, 08:32 am

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Bitcoin

Can gaming consoles be used as a Bitcoin mining platform?
I'm very new to the concept of Bitcoin (having only just read the wikipedia entry and visited bitcoin.org)
My question is this: why is the mining platform limited to PC/ traditional computing devices? It seems that gaming platforms would also work quite well, having better performance specs than the general user would reasonably have on his/her home PC and they have networking capabilities.
6 Answers 6.
When CPU mining was common gaming consoles did provide comparable performance. There was some development work for xbox360 and PS3. However roughly a year ago GPU mining hit bitcoin network rendering CPU miners obsolete almost overnight. Using unified shaders in modern GPUs and OpenCL programming language GPU miners could operate in parallel working on many hashes simultaneously. Even the earliest crudest implementations vastly outperformed any CPU in terms of raw hashing power, hashing power per dollar, and hashing power per watt. Since then refinement of OpenCL kernels have only widened that performance differential. Currently there is no economic value in using CPU for mining Bitcoins.
Due to the emergence of GPU mining there are a couple issues that make mining with current gaming consoles futile.
Marketing aside gaming consoles are not that powerful. Today a $69 AMD graphic card has more computing power than either the Xbox 360 or PS3. Moore's law is a powerful force and gaming consoles which were start of the art in 2005 are pitifully weak compared to hardware available today. As already discussed CPU mining is futile and unprofitable The GPU in both consoles while powerful at one time are rather lackluster by todays standards. They could provide low end hashing power except they lack unified shaders which makes programming them to do hashing impossible.
Consoles are not upgradable and that is both a benefit and detriment. Right now we are at the tail end of ther current consoles lifecycle and it works against using consoles for computing power. Since they can't be upgraded they are essentially $600 computers based on hardware available in 2005. However at the begining of a console life cycle the hardware is rather powerful for the price point and they are routinely subsidized. At launch a $400 xbox 360 contained about $500 worth of hardware.
So to answer your question there is no benefit to mining on current gen consoles, however it may be possible that "next-gen" console would be viable hasing platforms at least for the first couple years (before their static hardware fall behind due to the continually effect of Moore's law).
However there are some requirements for a future console to be a viable hashing platform:
The Console has a GPU with unified shaders and good integer performance. The ability to access those shader either through API (Microsoft XNA) or hacking/rooting console. Powerful GPU relative to retail cost of the machine.
It remains to be seen if future consoles could be used for hashing but using current generation consoles for hashing is simply not economical.
How to do Bitcoin mining on Xbox 360?
Bitcoin is a type of digital cryptocurrency and a worldwide payment system which was initially released in 2009 by Satoshi Nakamoto. Bitcoin is a decentralized currency; it operates independently from a central bank. No one is aware of the future of Bitcoin and it is mostly unregulated. Government is mindful of their lack of control over currency and taxation.
Bitcoin mining is a decentralized computational process which has two purposes: confirm transactions in a trustful manner in a block and create new bitcoins in each block. It is mostly performed by very powerful computers that solve complex computational math problems. Here is how to do Bitcoin mining on Xbox 360.
Initially, CPU has been popular for quite a long time as gaming consoles couldn't provide an efficient environment and performance for Bitcoin mining. But, recently Xbox 360 developers have done some development to make it capable for Bitcoin mining. The developers used unified shaders in modern GPUs and OpenCL programming language. This enabled the GPU miners to work parallel on many hashes simultaneously. This outpaced any CPU in terms of raw hashing power, hashing power per watt, and hashing power per dollar.
To do Bitcoin mining on Xbox 360, it is necessary that the console has a GPU with unified shaders and excellent integer performance. It should have a powerful GPU relative to the retail cost of the machine. Moreover, it should allow the user to access the shaders either through API (Microsoft XNA) or hacking/rooting console. Moreover, you will have to mine in a pool otherwise no separate GPU device could compete for shares during a mine. The problem to solve with the Xbox 360 is to find or write software that is compatible with the Xbox OS. As it is Windows-based, it wouldn't be difficult to find one. You should have a GPU of at least two GB RAM and two GB video memory. Also, the RAM should be DDR2 which means double i.e. 2×1 GB. Thus, it is possible to do Bitcoin mining on Xbox 360 but it wouldn't work great.
GPU mining is not that successful. There are some issues which make mining with current gaming consoles pointless. Marketing on gaming consoles is not that much influential. Nowadays, a $70 AMD graphics card has more power than Xbox 360. The gaming console's hardware is weak compared to the hardware available today. The GPU can give low-end hashing power. GPU mining is unprofitable and futile. It seems that using current generation consoles such as Xbox 360 for hashing is not economical, you wouldn't break even.

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Bitcoin

Is It Possible to Mine Bitcoin Using Xbox 360?
Bitcoin is the market leader when it comes to cryptocurrencies, and this is by and large due to it being the first of its kind. Created in 2008 by the elusive Satoshi Nakomoto and then released the following year, Bitcoin is decentralised, which means that there is no involvement from banks or financial institutions. Nowadays, everyone pretty much knows how to sign up for a Bitcoin wallet from Luno or any other reputable company, which then allows the user to purchase the cryptocurrency together with transacting and/or moving funds.
However, not as many people will know that Bitcoin mining is a crucial part of its existence. Not only does mining confirm transactions on the blockchain in a transparent manner, it also creates new Bitcoins too, which keeps the world's top crypto alive. While most Bitcoin mining operations are taken on by powerful computing setups, otherwise known as rigs, there is a way to utilise an Xbox 360 for mining too.
Central processing units, otherwise known as CPUs, have been the preferred choice when it comes to Bitcoin mining for some time, but even with one onboard the Xbox 360, the performance was lacking for the task at hand. However, experienced Xbox 360 developers have put their heads together to achieve what many suggested was impossible, finding a way to make the console capable of mining Bitcoin efficiently.
The developers have put unified shaders to work, which effectively makes graphics processing units, often referred to as a GPU, more efficient. Unified shaders, used in conjunction with OpenCL , which is a programming language, allows those using the Xbox 360 to mine Bitcoin to work through multiple hashes simultaneously. Therefore, Bitcoin miners using the 360 can outpace CPUs based on hashing power per watt and per dollar.
Steps must be taken to ensure an Xbox 360 is up for the job, and these begin with finding a console which not only has a GPU with unified shaders but one with superb integer performance too. Ideally, the machine should have a high-performance GPU when compared to the cost of the console, and users should also be able to gain access to the unified shaders through rooting, hacking or through an application programming interface, aka the API.
GPUs in use for Bitcoin mining should be made up of at least two gigabytes of RAM and the same for video memory. The RAM should be DDR2 , which in effect means double the number of gigabytes. For those intending on mining using an Xbox 360, they should be aware that they will have to work in a pool, as an individual GPU based device can't compete for shares when a mine is underway.
So, while Bitcoin mining using an Xbox 360 console is entirely possible, it can prove to be a futile task. You can buy cheap AMD graphics cards which pack a more significant punch in the power stakes when compared to the Xbox 360, with the latter's hardware now outdated. The GPU is an Xbox 360 can provide a small amount of hashing power, but this the process will prove to be unprofitable in the long run.
Bitcoin mining in China.
China is the undisputed world leader in Bitcoin mining.
Chinese mining pools control more than 60% of the Bitcoin network's collective hashrate.
Not only does China manufacture most of the world's mining equipment, but massive mining farms are located there to take advantage of extremely cheap electricity prices.
Estimated Hashing Power by Country.
Here is the estimated mining hash power breakdown by country according to University of Cambridge Centre for Alternative Finance:
As you can see, China dominates Bitcoin mining by a very wide margin.
In this article, we are going to explain why China is such a mining powerhouse in Bitcoin and other cryptocurrencies. The answers may surprise you.
Cheap Electricity.
Electricity cost is the most important factor for a profitable mining operation. As mining difficulty increases, the least efficient miners are forced to shut down first.
Electricity in China is extremely cheap compared to most other countries. Chinese electricity in industrial regions is either supplied by hydro-electric facilities or subsidized by the state.
China's cheap electricity keeps Chinese miners at peak efficiency and allows them to outlast their foreign competitors.
A very large portion (if not the majority) of Bitcoin's energy comes from China, and most notably in "green" powered areas like Sichuan and Xinjiang where renewable sources like hydroelectric, solar, and geothermal are common.
In many cases, the energy produced by these wind farms and dams is higher than the local grid can take. This means that they are producing energy that would otherwise not be used by anyone since the local grid, which takes energy and distributes it accross distances, cannot hold it.
Take Sichuan, for example:
Total hydropower reached more than 75 GW in 2017, greater than the total in most Asian countries. It was also more than double the capacity of the province's power grid, meaning lots of wasted power.
Excess Coal.
Coal is the cheapest power source but also the dirtiest. It's well-known that China has comparatively lax environmental policies. Major cities like Beijing are notorious for their high levels of smog, produced mostly by burning coal.
Energy producers can freely burn coal and use the energy for Bitcoin mining. Instead of physically transporting the coal, it's easier and more cost-effective to establish a Bitcoin mining operation near a source of coal and convert carbon directly to crypto.
#Bitcoin enables Chinese entrepreneurs to export coal by burning it and using the energy to mine.
Leading Bitcoin mining Pools.
Mining pools, as the name implies, are collaborations between individual miners and, frequently, major mining companies. Their hashrate is combined so that the pool has a better chance of finding a block. The block reward is then shared among all contributing members, according to their proportional hashrate.
The result is that many miners outside of China are attracted to Chinese mining pools due to their size. The bigger a pool, the more steady and predictable a member's earnings. Many miners are lured by the prospect of small, steady earnings as part of a major pool, as opposed to the high- reward-but-low-odds lottery which is solo or small-pool mining.
China is home to four of the five largest Bitcoin mining pools over the past year. As of the 25th th of August, 2020, the distribution of hashrate was as follows:
1. F2Pool / DiscusFish.
F2Pool, also known as DiscusFish, is based in China. F2Pool has mined about 18% of all blocks over the past twelve months. At the time of writing, it controlled about 22 EH/s.
2. Poolin.
Poolin is China's second largest Bitcoin mining pool, mining nearly 13% of all blocks in the past year. It commands around 10 EH/s.
3. Huobi Pool.
Huobi is China's 3rd largest Bitcoin mining pool, and it mines approximately 9% of all Bitcoin blocks. Huobi's pool contributes about 11.5 EH/s.
Antpool is another Chinese based mining pool, maintained by the ASIC manufacturer, BitMain. Antpool mines about 8% of all blocks (down from 20% in 2017). Antpool currently has a hashrate of 10.9 Exahashes per second (EH/s).
There is some speculation that AntPool disguises its true hashrate by running subsidiary pools. These are said to include ViaBTC, BTC.com, GBMiners, CANOE and possibly others.

Bitcoin


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How to set UP BITCOIN Mining BY BITMAIN Antminer L3+ For Best Air Circulation|3:22

Bitcoin

Where Did BTCC go?
You may be wondering why BTCC pool is not on this list. For those who don't already know, BTCC was China's third largest Bitcoin exchange and also operated a large mining pool. Back in 2017, BTCC pool was mining about 11% of all blocks and controled about 240 PH/s. In November of 2018, BTCC shut down indefinetely "due to business adjustments".
Today, we regret to announce that due to business adjustments, the BTCC pool will shut down all mining servers on November 15 and will cease operations indefinitely from November 30. [W]e will release the profits of all miners in time.
So, what does this Chinese mining mean for Bitcoin? Sadly, nothing good.
Read on in the next chapter to find out why.
There's a definite downside to China's mining dominance:
Centralization!
Having so much mining power centralized in any single country exposes the Bitcoin network to a worrying degree of political risk.
Should the Chinese government decide to crack down on Bitcoin, perhaps seeing it as a threat to their economy or a competitor to their own planned digital currency , they could wreak untold havoc in the Bitcoin ecosystem.
There is cause for optimism, though.
Thankfully, mining in China has begun to wane in recent years. It was once reponsible for over 73% of all Bitcoin mining. Now it struggles to reach 65% and that reduction in mining centralization seems unlikely to stop any time soon.
Companies like Blockstream have created what is called co-location mining centers in both Canada and the US where they have negotiated power agreements with large energy companies in order to let institutional and retail investors buy their own mining rigs and set them up at Blockstream's various mining farm locations.
They can own the equipment and direct the hashing power to whatever pool they want. All while they benefit from the cheaper bulk electricity costs and advanced facilities purpose built for mining Bitcoin at scale.
But beyond the active efforts of non-Chinese Bitcoin based ventures to reduce the reliance on Chinese mining, Chinese miners themselves are showing interest in leaving the region, and that is what we are going to focus on in our last chapter.
Miners Moving Out of China.
Needless to say, China is the world's undisputed leader in Bitcoin mining, thanks to the country's cheap electricity, cheap labor, and manufacturing capabilities. Having cracked down on cryptocurrency exchanges and ICOs, China is now planning to go after bitcoin miners. To do so, it is hitting where it hurts the most - limiting power supply. Without access to electricity, new bitcoins cannot be generated.
The Bloomberg news agency reported that the People's Bank of China was mulling ways to curb power usage by companies involved with virtual currency mining.
The government is investigating power consumption of cryptocurrency miners to determine whether their use of cheap or free electricity has affected power prices in those areas.
Recently, law enforcement in China confiscated 600 computers used to mine bitcoins. This was after a local power grid operator reported abnormal electricity usage. The report, however, did not say when the police confiscated the machines.
One of the largest bitcoin mines belongs to Bitmain. Bitmain is located in SanShangLiang, and has expanded its operations to Canada and the US (though many of their locations abroad had to be shut down due to insolvency).
While Bitmain remains a Beijing-based company, it has successfully set up a regional headquarters in Singapore and has satellite mining facilities outside of mainland China.
Beyond Bitmain, BTC.TOP (which was once a large mining pool and farm in China) has moved much of its operation to Canada.

China is Still King.
In 2020, China remains the king of Bitcoin mining and this isn't likely to change any time soon. That is, unless major changes to the price of energy occurs or China decides to crack down even harder on Bitcoin mining (though this looks fairly unlikely).
Thankfully, the amount of hashing power coming out of China is decreasing somewhat steadily in the last couple of years, and more and more efforts are being made to make mining more accessible to the everyday Bitcoiner. This is a welcome change, as ASIC mining has turned what was once a profitable home venture into something only incredibly sophisticated and well-funded operations can pull off while making money.
Who knows? With COVID19 raising tensions between the Chinese and US governments, we may see other countries reduce their dependency on China in as many ways as they can, and that may bring opportunities for Bitcoin miners to make it outside of China.

Bitcoin


Bitcoin Miner Malware - Incredibly Stealthy!|3:58

Bitcoin

China's Bitcoin mining Industry Impacted the Most This Year, Says Report.
The researchers and analysts from Tokeninsight published it's "2020 Q2 Cryptocurrency Mining Industry Report" which shows the industry has grown exponentially during the last six months. The findings indicate cryptocurrency mining has expanded a great deal but China's bitcoin mines "suffered a great impact" in H1.
Tokeninsight published its "2020 Q2 Cryptocurrency Mining Industry Report" and the study shows a lot has happened in the Bitcoin mining industry during the first half of 2020.
The new research paper discusses a number of topics that affected the Bitcoin mining industry this year and the countries that are welcoming these operations. For instance, Tokeninsight highlights that the Uzbekistan government established a "national mining pool" in January.
Distribution of Bitcoin mining rig model manufacturers. (Source: Tokeninsight, and F2pool).
After that announcement, Quebec's Hydropower Agency of Canada allowed bitcoin miners to obtain 300MW of electricity.
In February the e government said Bitcoin mining "does not require government supervision and intervention." The following month, Missoula County, Montana, created new regulations for bitcoin miners.
Quarterly comparison of average hash rate and per unit power consumption of Bitcoin mining machine models. (Source: Tokeninsight, and F2pool).
In May, The Acting Minister of Energy of e told the public bitcoin miners might be able to draw nuclear energy. In April, the local government officials in Sichuan approved the "Hydropower Consumption Demonstration Enterprises."
News.Bitcoin.com recently reported on the second-batch of consumption enterprises approved in Sichuan. In June, the Parliament of Kyrgyzstan said it plans to "tax and supervise digital asset miners."
Changes in the marginal revenue of new mining machines during the 3/12 crash and the halving. (Source: Tokeninsight)
Tokeninsight said that China has been the hardest hit in 2020 as the country has seen a significant impact from a variety of reasons.
The Tokeninsight researchers mentioned that Covid-19 caused mining rig shipment delays, the bitcoin halving cut revenue in half for Chinese miners, internal disputes from mining machine manufacturers like Canaan and Bitmain, and the report also mentions mining policy changes in Sichuan.
Estimated market share of each manufacturer. (Source: Tokeninsight and Bitmex Research).
Moreover, Tokeninsight has noticed a trend of new players entering the Bitcoin mining rig manufacturing sector.
"In terms of the mining machine manufacturing sector, new players are eager to enter the field, and the old overlords are also trying their best to update the technology to manufacture leading products in the market," the paper notes. "In the first half of 2020, new generation mining machines including Bitmain's S19 and S19 Pro, WhatsMiner M30 series, and Canaan's A1146 Pro and A1166 Pro have been launched one after another."
The report further adds:
From the data published by several manufacturers, the new generation of mining machines has been greatly optimized and improved in terms of performance and power consumption.
The study says that the core competition between mining rig manufacturers is semiconductor research and development (R&D).
A number of mining rig manufacturers leverage 10-7nm chips and the Tokeninsight researchers highlight that chips will improve in the coming years.
"At the current chip research and development level, Samsung and TSMC have deployed 3nm chips, and both plan to mass produce 3nm in 2022," the paper explains. "Although 3nm is said to be a node approaching the physical limit, TSMC has already planned for 2nm and is conducting research and development with mass production in 2024."
"Mining hardware is facing an accelerated iteration period, and the field of AI chips will become a battleground," the Tokeninsight researchers add.
In addition to the problems with Covid-19, supply chain delays, and government rules, China's Bitcoin mining industry is feeling the pressure from the 2020 monsoon season in Asia. Excessive flooding in Sichuan during the last five days caused 20% hashrate losses for a number of Chinese Bitcoin mining operations on Tuesday, August 18.
What do you think about Tokeninsight's Q2 mining report? Let us know what you think in the comments below.

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Les CRYPTO MINER MALWARE|3:40

Bitcoin

What is a Mining Farm and how it works.
One of the best and legitimate ways to make money with Bitcoins is to mine them. Bitcoin miners earn 12.5 Bitcoins every time they complete one block. Of course, early adopters are the most prominent winners. Before June 2016, Bitcoin mining attracted 25 Bitcoins for completing a single block. Before 2012, miners earned 50 Bitcoins. Today, setting up a mining farm is a little bit complicated but still possible.
What is a Bitcoin mining Farm?
A mining farm is a room or warehouse dedicated to mining cryptocurrencies. The farm can be a basement in your house with 2 ASIC machines or a large warehouse with dozens of GPUs and ASICs. Mining farms contain large power supplies, huge fans to cool the equipment and more than one person running them. In a way, a mining farm is like a small mining pool with miners housed in a single building.
Bitcoin mining is a simple concept that seems complicated if not well explained. At its core, mining is the process of verifying a transaction so that it is added to the public ledger known as blockchain. Transactions are added in blocks. All you need to verify a Bitcoin transaction is an internet enabled computer with a software program linked to the blockchain.
Bitcoin mining is also the process through which new Bitcoins are released into circulation. As already mentioned, 12.5 Bitcoins are released every time miners complete a block size of transactions. One block of transactions is the equivalent of 1MB and average 1400 transactions.
How to Build a Bitcoin mining Farm.
Mining Bitcoins is not only valuable, but it's also rewarding to miners. With one Bitcoin valued at $9080, a reward of 12.5 Bitcoins would get you $113,512. If you add the transactions fee you receive for verifying transactions as well, you can turn mining into a profession.
Basic Tools to Start Mining.
A Bitcoin wallet - a wallet is a mobile app, hardware device or a web application with password protection where you store Bitcoins. A mining software program - BTC miner and CG miner are examples of software that support ASICs you will need. Membership in a mining pool - miners pull their computing power to complete a Bitcoin block fast. When they complete a Bitcoin block, they share the rewards. A mining rig - nowadays, professional miners use ASIC machines to mine. ASICs are powerful devices specially designed for mining cryptocurrencies. An Internet-enabled computer Power source - you need at least 1000 Kilowatts of power every week to run a small mining farm. Cooling fan - the mining equipment release a lot of heat. You need a good fan to keep the rig and your house cool.
Important Terms in mining.
The reason why professional Bitcoin miners no longer use CPU or GPU computers can be summed up to Bitcoin mining difficulty. The blockchain is developed to auto adjust itself so that a Bitcoin block is only completed within 10 minutes. As such, the math puzzles solved by CPUs and GPUs five years ago were hardened to the point that only ASICs can handle them today. An Application Specific Integrated Circuit (ASIC) contains a much higher computing speed than a CPU computer. An ASIC contains a special chip that solves the math puzzles needed to verify transactions at billions of hash rates per second. Some ASICs support trillions of hash rates per second. With the high speeds, they are equitably prepared to verify transactions as long as the mining difficulty is not beyond their speed.
Bitcoin farming machines consume a lot of energy. Just one ASIC machine can cost you more than $150 in energy bills every month. A good machine should have the high computing power and low energy consumption. If you set up a mining farm with several ASICs, prepare to spend more than $1000 in electricity bills every month. Read more about Bitcoin's energy consumption on https://www.abitgreedy.com.
Bitcoin's Value.
Like all cryptocurrencies, Bitcoin's value fluctuates. Toward the end of December 2017, one Bitcoin was valued at $19,000. Today its price is much lower. Suppose the price could go down to $5,000, this may affect the profitability of your business negatively.
A Chinese Bitcoin mining Farm Case Study.
In November 2017 in media information about one of the largest Bitcoin mining farms in China was featured. The farm had 3 data centers and 2,500 mining machines. The farm was filled with lots of fans and a messy data center. There were wires hanging around, and the machines looked dirty. A group of young people mined Bitcoins in the warehouse. The work of the farm was poorly organized, and the staff worked only at night. If anyone wanted to learn how to mine Bitcoins on this farm, he had to wait for the night time.
The owner, Ryan, is a businessman who had most of his Bitcoin mining farms China closed down after he promoted them in a TV interview. Since this particular farm is based in Chengdu, Inner Mongolia, and relied on a local hydropower station for power, it was not closed down.
Errors and Solutions.
To create an excellent farm to mine Bitcoins, you have to maintain it in proper condition. The mining farm must be registered and operate on the territory where the mining process is permitted. Miners should be trained to manage Bitcoins mining process; they must earn a decent income and have flexible working hours.
Poor Human Resource.
Miners in this particular farm felt so underappreciated that they used the equipment on the farm to mine their Bitcoins. They often scrambled for food and a place to sleep.
If you have to start a mining farm significant enough to require employees, take care of them. Happy employees are hardworking and loyal to the business.
A simple mining farm does not require huge amounts capital to start. With ASIC machines costing as low as $100, it's possible to start a farm in your basement. However, mining is a fast-changing industry. The Bitcoin mining algorithm changes almost every week. The best ASICs cost in upwards of $2000. Research widely before you decide to start mining Bitcoins. Read about profitable farms on the territory of the former "socialist bloc."
Found a mistake? Select the text and press CTRL+ENTER.
Where on earth are the biggest Bitcoin farms?
Bitcoin and cryptocurrency mining has become a multi-billion dollar industry since the inception of digital currencies and the world now has multiple farms and rigs set up for the purpose of crypto-mining. In this, we explore the top five biggest farms and where they can be found.
While some cryptocurrencies are trying to move away from the mining of tokens, crypto-mining is still a massive part of cryptocurrency and the blockchain technology. Because it is such an integral part of the bigger currencies like Bitcoin, coin mining itself has become an industry and there are massive rigs set up across the globe with a sole focus on working on getting tokens.
Setting up a farm might sound deliciously inviting owing to the wealth of Bitcoin it seems to offer, but it is not as easy as it might seem. Owners need to bear in mind the size, equipment costs, operation costs and power usage before even considering starting up a rig. The equipment itself is worth a pretty penny, and the electricity costs sky-rockets pretty quickly owing to the amount of energy consumed by the machines and then the cooling that the equipment needs in order for it not to overheat and blow out.
It's not an easy task by any means, but when it is done correctly, it can yield some exceptionally delightful rewards.
In this, we will be exploring where the biggest mining farms that have cropped up are, and what they are capable of doing.

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Infecting Myself With Crypto Malware! (Virus Investigations 35)|18:53

Bitcoin

Moscow, .
Approximately 600 Bitcoins (BTC) are mined on a monthly basis at farms based in , making it one of the most powerful countries in the mining industry. It also has some of the largest mining set-ups and sees approximately 20 BTC come in per day.
Owing to certain issues that might arise with regulations and securities, mining owners are not quick to disclose the names or exact locations of their rigs, and so we can only suggest that the country's largest farm is somewhere near Moscow.
This particular set up performs at a massive hash rate of around 38 PH per second - something possible since it is believed to use around 3000 Antminer S9 application-specific integrated circuit (ASIC) miners to mine. The capacity of the farm is around 4,5000 kilowatts per hour and would have a resultant huge electricity bill of ₽6.5 million Rubles (which translates to approximately $103424.29 USD at the time of writing).
Linthal, Switzerland.
Unlike the farm in Moscow, the Swiss farm's owner is known and open with the way in which his rig operates. Guido Rudolphi built his Linthal-based farm in 2016 after moving his set-up from Zurich when he realized that the costs were too high to operate the rig efficiently and he chose the small European village owing to its reasonable electricity costs.
His farm is set up in what was once the building of a factory and has become the largest mining farm in Switzerland. Rudolphi still needs to resolve the problem of cooling processors but is optimistic that it is worth mining the Bitcoin despite any current mining issues.
Dalian, China.
The mining farm which is based in this Asian city sees approximately 750 BTC mined every month and has a massive hash rate of 360000 TH which makes up 3% of the entire Bitcoin network.
Mining in China has been made fairly popular owing to ASIC miners which are produced in the country - making the equipment cheaper and also much, much more convenient in terms of delivery. The country is also attractive for mining because it has reasonable electricity prices and the government not only allows the mining but encourages it by reducing electricity charges for the energy-hungry farms.
Owing to the appealing factors, Dalian has become a cryptocurrency mining town and is easily the hub of the mining industry in China, boasting a three-story rig with specially made equipment to optimize processing.
Reykjavik, Iceland.
One particular farm in Iceland stands out as one of the world's largest. Dubbed "Genesis Mining", this company now has farms located across Iceland and Canada - two of the coldest countries to aid with the heat energy released by the mining process - after relocating from Bosnia and China.
Although the information is not disclosed officially, it is hypothesized that the company might consume the most electricity - relative to size and capacity - in the entire Nordic country. With a hash rate of 1000 GH, this does not seem so far-fetched and f ounders Marco Streng, Jakov Dolic, and Marco Krohn are probably exceptionally pleased to have found two countries like China which offer reasonable electricity rates.
Washington, USA.
David Carlson, the founder of the largest Noth American farm GigaWatt, might have chosen an unusual place to launch a mining rig in 2012, but it seems to have worked out for him as he now owns one of the kingpin players in the industry.
Carlson started out as a software specialist and moved into a career in mining in his basement - calling the company MegaBigPower. Changing names and changing locations were apparently a good call for the entrepreneur, who managed to turn GigaWatt into a million-dollar business in only twelve months. Now, it is in an undisclosed location - to avoid the potential wrath of public authority - and is resident in a warehouse used previously for industrial purposes.
Posted: Oct 30, 2020 Author: Becky Categories: Coin News.

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How to Find and Remove a Hidden Miner Virus on Your PC 🐛🛡️🖥️|9:08

Bitcoin

Someone built a Bitcoin mining farm in Animal Crossing.
One Animal Crossing fan just created a replica Bitcoin mining operation in the latest instalment of the game. He had to spend around $5 worth of in-game currency to do so. This continues a trend of Bitcoin enthusiasts creating replica mining machinery in popular video games.
While many people have spent their time in lockdown playing the popular game Animal Crossing New Horizons on the Nintendo Switch, at least one player has put in the work to ensure his in-game character doesn't miss Bitcoin's recent bullish activity.
The game typically revolves around completing various simple tasks, like chopping wood and farming, in order to earn in-game currency that is used to buy items. Although the game is designed to be a relaxing, whimsical experience, it seems this isn't enough for at least one player, who instead opted to turn his in-game kitchen into a faux Bitcoin mining operation.
The image was crossposted yesterday to the CryptoCurrency forum on Reddit and was created by Reddit user "stholli" with the caption "Other people have ironwood kitches (sic). I have a bitcoin mine."
The creation features an Animal Crossing villager sitting in front of a computer screen surrounded by server racks with a worried expression on his face--we can only assume he stayed up all night chart watching, something many traders are guilty of doing.
According to VillagerDB, an online catalog of Animal Crossing New Horizons items, each Server item sells for 100,000 bells (the in-game currency). At a going market rate of around $2.90 per million bells, this means stholli's setup costs at least $4.06 worth of bells--and with no real mining operation, it will never break even. That's not including the cost of the gold bars or computer, both of which somehow cost less than the server racks.
Bitcoin appears in many popular games.
This isn't the first time somebody has built a Bitcoin miner in a popular video game.
Back in 2014, a user known as "DrDaBombz" on MinecraftForum created a semi-functional Bitcoin miner out of in-game elements. Likewise, YouTuber "TheRedEngineer" created a cut down version of Bitcoin, including its mining protocol and wallet features within Minecraft using command blocks--a type of in-game component that can be used to execute console commands.
This New Service Plays Matchmaker Between Solo Miners, Big Mining Farms.
A first-of-its kind service wants to play matchmaker between big-scale mining facilities and individual miners looking for a hosting setup.
Bitcoin mining company HASHR8 just launched its Compass platform, a search engine of sorts for individual miners to shop for a hosting facility to operate their mining hardware for them. While mining farms hosting solo miners' machines is nothing new, Compass is the first service to create a product to sync miners with hosting providers.
The initiative was born from a drive to keep Bitcoin's hashrate distributed, and that starts with making sure the smaller-time miners can stay competitive.
"We believe that everyone should have the ability to mine bitcoin. Nowadays the narrative is always that 'Bitcoin mining is only profitable for larger miners,' which holds true because smaller miners cannot benefit from the same economies of scale. HASHR8 built Compass to kill that narrative," HASHR8 COO Thomas Heller told CoinDesk.
Pointing bitcoin miners in the right direction.
Compass curates a registry of verified mining facilities, which miners can query to search for facilities by region, energy price and hardware hosting minimums. Each mining farm's profile also lists security features and whether it offers mining equipment for rent. Searchers have their choice of facilities from Canada, China, Iceland, Kazakhstan,  and the U.S.
Because they already had good working relationships, Heller told CoinDesk, HASHR8 reached out to the facilities currently listed on Compass to pioneer the program, but other mining farms can apply to be added, too. The hosts, not the solo miners, pay HASHR8 a fee for the service.
In addition to Compass, HASHR8 will also be launching Powerblocks this month. The service will allow individual miners to host a single device; in Heller's view, this service gives "anyone an opportunity to start mining in a world-class facility."
"We want everyone to have access to the same great hardware and the same low hosting rates, whether they have $2,000 or $200,000, to get started mining bitcoin," Heller continued.
At a time when Bitcoin's hashrate is soaring while its price is slogging along, miners are eking out profits as revenue per terahash rests at all time lows. Smaller miners have been especially hurt by this cash-flow squeeze. Heller said that before we can hope to make them competitive with larger miners, "the first step is to get them in the game" with feasible hosting options.