Cloud Mining is the process of bitcoin mining using a distant datacenter with shared processing energy. The sort of cloud mining enables users to mine bitcoins or various cryptocurrencies with out managing the hardware. The mining rigs are housed and maintained in a facility owned by mining firm and the client merely needs to register and purchase mining contracts.
Miners access new bitcoins by solving complex math problems, a process that requires using power-intensive computer systems. To produce the facility wanted, Greenidge Generation converted a former coal plant on the shore of Seneca Lake to a fuel-fired plant in 2017. It began mining at the plant last yr, generating forty four megawatts of electricity, largely to provide its operation, with the surplus sold to the grid.
This analysis used the services of the Canadian Astronomy Information Centre, ontology crypto operated by the National Research Council of Canada with the assist of the Canadian House Agency. Funding for CANFAR was supplied by CANARIE by way of the Network Enabled Platforms Supporting Virtual Organisations program. The writer thanks D. Schade, A. Grey and M. Hack for their contributions to this work.