Feeds

BTC MaaS (mining-as-a-service) preps DC pods down under

Can't build, can't steal? Now you can RENT your miner

The essential guide to IT transformation

Australian outfit BTC Corporation is hoping that there's still enough punters wanting in on the Bitcoin goldrush to sustain a mining-as-a-service business.

The company's pitch is that the everyday punter no longer has any chance to get their hands on even a chunk of a single Bitcoin. CEO Simon Oliver told The Register that the outlay for a competitive Bitcoin mining rig is now in the vicinity of $20,000, with a probable lifetime of a year.

“Mining has become difficult for individuals, because of the cost of the computer power you need to deliver an outcome – individuals need to build big servers to participate in the blockchain, and become part of pools to get their bit of a coin.

“And the difficulty [of solving the Bitcoin hash – El Reg] increases every ten days or thereabouts, which makes your hardware obsolete in eight to twelve months.”

Instead, BitcoinCloudMining.com is prepping containerised data centre pods, working on the simple basis that with enough horsepower behind the doors, the costs can be spread across a bunch of subscribers.

“We can put hundreds of kilowatts into a condensed data centre,” Oliver said. “They're purpose built pods designed for cost-effective giga-hashing … to make it affordable”.

Right now, he told Vulture South, the company has a beta test setup in an existing Melbourne data centre, and is near completion of its first two containerised units that will be deployed to two other Melbourne locations.

“It's our responsibility to maintain the performance of the system”, Oliver said. ®

Next gen security for virtualised datacentres

More from The Register

next story
Rupert Murdoch says Google is worse than the NSA
Mr Burns vs. The Chocolate Factory, round three!
e-Borders fiasco: Brits stung for £224m after US IT giant sues UK govt
Defeat to Raytheon branded 'catastrophic result'
Germany 'accidentally' snooped on John Kerry and Hillary Clinton
Dragnet surveillance picks up EVERYTHING, USA, m'kay?
Snowden on NSA's MonsterMind TERROR: It may trigger cyberwar
Plus: Syria's internet going down? That was a US cock-up
Who needs hackers? 'Password1' opens a third of all biz doors
GPU-powered pen test yields more bad news about defences and passwords
Think crypto hides you from spooks on Facebook? THINK AGAIN
Traffic fingerprints reveal all, say boffins
Microsoft cries UNINSTALL in the wake of Blue Screens of Death™
Cache crash causes contained choloric calamity
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.