Genesis Mining Shows Life Inwards a Bitcoin Mining Farm ter Iceland – CoinSpeaker

Bitcoin mining company, Genesis Mining, has launched a 24/7 live streaming movie from inwards an Iceland-based facility.

One of the largest cloud bitcoin mining providers, Genesis Mining, has launched a 24-hour live stream from inwards a mining facility located te Iceland. The mine is tooled with powerful computers that are needed to process transactions ter digital currency.

Genesis Mining CEO Marco Streng told Fresh York Postbode that the mine generates overheen 35 bitcoin vanaf day, thus getting overheen $8,200 daily. Presently, its mines are based te a secret place ter Iceland, the country which offers such benefits spil good internet connection, cheap energy and low temperatures.

Cold weather is very significant for mining spil it permits companies to save costs on cooling the hardware. Low energy prices te Iceland also enable companies to save money spil the mining implies consumption of hefty amounts of electro-therapy. Streng says Genesis Mining may be one of the largest users of power te the country.

Mining is fairly a lucrative process that generates fresh bitcoins. By processing transactions te the cryptocurrency network, the miners are rewarded with fresh digital currency.

Today, there are lots of fresh mining companies injecting the industry. Thesis firms install big gegevens centres that consume massive amounts of power and carry out complicated calculations te order to create fresh bitcoins.

With the live-streaming movie, the company expects to improve its position spil a legitimate mining rock hard te a sector that is often affected by frauds. “There is a loterijlot of fraud ter this market,” Streng said. “Our highest priority to provide transparency to our users.”

Last year, such cloud mining services spil Hashie.co and Bitcoin Cloud Services, which allegedly stole the users’ cryptocurrency, were proved to be fake. Some scam websites even upload photos of mining facilities that don’t indeed exist. Many of them use Ponzi schemes, which stipulate the use of straks customers’ funds to pay earlier clients.

Genesis Mining believes that the fresh stream live, clearly displaying the company’s employees and models of super computers, will assure its customers and investors that the movie is legitimate.

Ter addition to scams concerns, the company is worried that movies will be too boring to see. To prevent this, Genesis Mining’s marketing team is considering some ideas, including hiring a music ensemble.

Spil Business Insider wrote, the working conditions te mining companies are rather harsh. “Working inwards a bitcoin mine is absolutely terrible,” said CTO Stefan Schindler.

“You’re permanently surrounded by machines that are downright shouting at you all the time,” he added. “It’s spil if you were listening to jets kicking off and landing without stopping.”

Moreover, the temperature ter the facility achieves up to 50 degrees Celsius (122 Fahrenheit).

Related movie: Bitcoin – Testing the Lows? – Key Levels – Technical Analysis – Elliott Wave Analysis


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