Traditional Culture Encyclopedia - Traditional virtues - Introduction of Chinese and foreign mining industry?
Introduction of Chinese and foreign mining industry?
The three businesses provided by Chinese and foreign mining industries (cloud computing power, mining machine leasing and mining machine hosting) have lowered the mining threshold, allowing small and medium-sized miners to participate in blockchain mining through "cloud mining".
What is "cloud mining"? Cloud mine is usually a big mine that divides its own mining machines into smaller power contracts according to the power consumption, and stipulates different service periods. The contract of selling electricity in this way is called power contract, and users can mine by purchasing power contract or renting the whole machine of mining machine, which saves the trouble of maintaining mining machine in self-built mines.
It is called cloud mining because users don't have to touch the physical mining machine, and the mining behavior is completely virtualized with just a few mouse clicks.
In terms of threshold and convenience, cloud mining is still quite in market demand.
For the miner, it is equivalent to locking in the income in advance and sharing the cost equally; For users who buy computing power and rent mining machines for cloud mining, the complicated steps such as mine site selection, mining machine setting, mining machine cooling and noise removal that may be involved in traditional mining are omitted. At the same time, compared with family mines, large mines have lower electricity price advantage, and users pay less electricity and maintenance fees, which is a win-win situation.
The suggestions are for reference only and are not enough to make any investment suggestions.
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