Chinese Bitcoin Firm Bitmain To Construct A Complex Powerhouse

Chinese Bitcoin Firm Bitmain to Construct a Complex Powerhouse

Bitmain’s new datacenter

Bitmain Technologies Ltd, one of the major players in Bitcoin business has announced its plan to enhance its overall performance. This virtual mutual fund firm is known for its success in manufacturing its servers and now it has invested in constructing an extensive datacenter. The firm’s leadership based in China revealed that the upcoming data center will not only house the servers but power them too.

According to its strategic planning, the firm is geared towards completing the 45 complex solar-powered data center soon. The building of this huge power center is inspired by the desire of the firm to be part of the Bitcoin mining operation. Therefore, the data center will be a major application in this mining process that involves stakeholders in the Bitcoin’s industry. The P2P network allows the players to actively take part in the said process. The data center complex will be based in the Xinjiang, which is one of the Chinese autonomous regions. The planned building is expected to attract nearly 140 megawatts, hence having a capacity to host some of the high-speed projects globally.

The firm’s decision to build a data center to host and power its servers will go a long way in enabling it to effectively participate in the mining process. In this case, Bitmain Technologies Ltd will have the capacity to configure the parameters required to generate the encryption necessary for virtual monetary transactions for the cryptocurrency. This process is made possible by the fact that encryption that brings about the bitcoin’s blockchain is not based on an algorithm.

Sources in Bitmain said that the solar-powered data center will improve the already well performing Antminer manufacturing process. Just to put a few facts into perspective, the Antminer is an essential mining dedicated hardware component. The Antminers are known for their high power consumption since a single operational component uses up to 845W. For instance, a Bitmain’s Antminer version is normally plugged into a power supply amounting to 220V. This version of Bitcoin mining component appears like an outdoor mosquito trap positioned on its side which uses uncovered wires. Indeed, the Antminer has a total of 2600W of power output at its peak.

Bitmain’s 45 building capacity facts

An antique mining device known as a calculator revealed that around 159, 763 Antminers can be effectively powered by 135MW. With this in mind, the Bitmain’s complex with 45 buildings is likely to hold 3,550 Antminers in each building. The complex appears like a POW camp using the solar power while viewed from 3D models.

Considering that a 5U form factor of a stripped down Antminer can host 8 units, it is possible for BItmain to accommodate 8 Antminers that is if they ensure that the power consumption of every single Antminer is fully optimized.

Following this announcement, it is clear that Bitmain Technologies Ltd’s vision of building a complex data center in Xinjiang to host its servers is a viable solution to its power gaps. The center will with no doubts power their Bitcoin mining process resulting in high virtual currency production.

Bitcoin Brings Good Tiding For Automated Traders

Bitcoin Brings Good Tiding for Automated Traders

Did you know that bitcoin has provided a booming business for automated traders? Most online traders are using it as a means of making easy money through narrow profit margins. Bitcoin is a cryptocurrency which is available in the capital market. According to Zhou Shuoji, this cryptocurrency stands no chance of replacing the traditional currencies, though most traders seem to believe in it.

Mr. Shuoji, a 35 year old Beijing based online trader adds that bitcoin attracts a majority of traders in the capital market. As a matter of fact, he is one of those who trade it round the clock every single day, as it dominates most of the quick orders he places in the exchange market. Traders make huge profits by taking advantage of the small margin of price discrepancies that emerges during the exchange of bitcoin.

Though Mr. Shouji regards those who ardently use bitcoin as fanatics, he is quick to reiterate that those who are trading it are enjoying golden moments specifically due to its status of imperfection as it is not a true currency. Actually, he has vast experience in using this cryptocurrency as he operates a bitcoin hedge fund through his Fintech Blockchain Group firm. Mr. Shouji’s observation about bitcoin cannot be underestimated as he worked as a technology consultant with IBM.

Professional traders especially those from Chinese origin, equipped with adequate skills in cutting edge technology constitute about 80 percent of bitcoin traders. These traders make most of their money by imitating the trading strategies used by top players present on Wall Street. For these traders, bitcoin is not just a “fake” currency but an available asset ready to yield money using the computer in a live capital market.

Just like other online trading markets, bitcoin trading comes with its risks that include:

  • Cyber attacks, good examples being Bitfinex and Mt. Gox in 2011 where traders incurred huge losses.
  • Major price swings some being more than two times bigger than those experienced in S&P 500.

These risks have cast a shadow of uncertainty in bitcoin trading as they expose traders to huge losses.

In addition, potential investors in the cryptocurrency market are wary of a possible regulatory crackdown by the Chinese authorities. This is in their bid to stop any investment avenue that may transfer the wealth overseas.

Though China based banks were banned from trading bitcoin back in 2013, foreign firms are still active players in the Chinese exchange market. Traders using the Chinese venues that host the majority of the world’s turnover are not required to pay the transaction fee. Chances of making money are high for each trader, as the market is structured to tick the right boxes hence creating winning opportunities in multiple exchanges. tracks the volumes during trading sessions.

Chen Zhenguo, founder of the biggest cryptocurrency trading platform in China adds his voice on the gains of engaging on this trade. The 30 year old Bitcoin trader based in Beijing ascertains that automated traders have an edge in bitcoin market. Mr. Zhenguo’s BotVS platform gives new traders an opportunity to perform bitcoin demo trades before engaging in the real market.