Bitcoin Mining Earns A Place In Data Centers

By CIOReview Team

 Bitcoin has made a remarkable impact in the financial transaction methods across the globe and has got more and more IT people on their toes. People are shelling out big money to get hold of the hardware designed for bitcoin mining. Companies like Butterfly Labs have developed 600 GH Bitcoin mining card that help the intense mining of data involved in bitcoin business. Also known as the virtual currency or digital currency, Bitcoin charms the user by its attractive features such as, transaction of bitcoin across the globe does not require a third party (no involvement of bank, no govt. rules or boundaries,) doesn’t need any account, or use of real names. With the growing interest of the world population in bitcoin business, IT folks and large investors are jumping into the foray to explore their prospects. Hardware industry specialists are working out ways to make state-of-the-art CPUs and GPUs to make the most of bitcoin mining boom and data center service providers are seeing this as a new business in the offering, where they lease there servers for mining. Data Center service providers are eyeing cooler parts of the globe, as it can significantly cut down the risk of spending more on cooling systems. These providers offers incentive for those involved in bitcoin mining by generating bitcoins for the miner which attracts more and more bitcoin miners. One thing that weighs Bitcoin down is that it has huge appetite for CPU clock cycles and energy requirement. It is noticed that running bitcoin mining on the servers causes a power usage of around $15 million each day. Skeptics have their reservations for bitcoins, as it keeps transparency at bay and most of the things happen without regular formalities and as such fiduciary issues become a concern. The fluctuation of the bitcoin value is also a concern.

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