Two cryptocurrency mining companies want to make it easier for businesses in North America to mine bitcoin.

Minnesota-based Compute North has allocated hosting facilities and 47 megawatts (MW) of power for 14,000 Whatsminer M30S mining machines supplied by New York-based Foundry Digital as part of an agreement to provide a “turnkey” hosted mining solution. (Foundry is a subsidiary of CoinDesk parent company Digital Currency Group.)

In the past year, mainstream interest in mining has soared along with bitcoin’s price, causing investors to pile into public North American mining companies and prompting shares of most of these companies to handily outperform bitcoin, as CoinDesk reported. 

But an individual investor’s ability to actually mine is often severely limited by a high barrier to entry thanks to hardware and power resource costs. That barrier stands even higher now as mining machine manufacturers continue to be smothered by overwhelming demand from established players causing a shortage of available machines.

Download MAXBIT Android App, Your best source of all crypto news!
Google Play

Source link

Compute North, Foundry Team Up to Target North American Bitcoin Miners

by Mario Herndon
Choose A Format
Voting to make decisions or determine opinions
Formatted Text with Embeds and Visuals
The Classic Internet Listicles
Upload your own images to make custom memes
Youtube, Vimeo or Vine Embeds
Soundcloud or Mixcloud Embeds
Photo or GIF
GIF format