new service plays a role between isolated miners and large mining farms
This new service plays a role between isolated miners and large mining farms
The first service of its kind seeks to play a comparison between large mining facilities and individual miners who want to set up capture.
Bitcoin mining company HASHR8 recently launched its Compass platform, which is a search engine for certain types of miners who will buy a place to hold their operators. While mining farms that own miners’ equipment alone are not new, Compass is the first service to make a product to align miners with hosting providers.
Born in a campaign to end the distribution of Bitcoin hash rates, this initiative begins with ensuring that young miners can remain competitive.
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“We believe that everyone should be able to dig for bitcoin. These days, the story goes that ‘Bitcoin mines are only profitable for big miners,’ which is true because small miners can’t benefit from the same rate economy. HASHR8 has built a killing camp.” Thomas Heller, COO of HASHR8 told CoinDesk.
Identifying the Bitcoin miners the right way
Compass supports the registration of certified mining resources, which miners can ask for regional facilities, energy prices, and low-cost holding equipment. The profile of each mining farm also records safety features and whether they offer mining equipment for rent. Researchers can select locations from Canada, China, Iceland, Kazakhstan, Russia and the United States.
Having established a good business relationship, Heller told CoinDesk, HASHR8 has reached out to existing companies listed on Compass to be the leader in the program, but other mining farms may not be added as well. Strangers, not private miners, pay the HASHR8 service fee.
In addition to Compass, HASHR8 will also be launching Powerblocks this month. This service will allow individual miners to hold one device; In Herler’s view, the service gives “anyone the opportunity to start a mine in the center of the world.”
Learn more: How Mining Bitcoin works
“We want everyone to have the same big hardware and the same low catch rates, whether they have $ 2,000 or $ 200,000, to start bitcoin mining,” Heller continued.
While Bitcoin’s hash rate goes up while its price is constantly declining, miners reap profits as revenue with terrach remains at a very low level. Small-scale miners are particularly affected by this financial pressure. Herler said that before we hope to make them compete with the big miners, “the first step to getting them into the game” is to have effective catch options.