Bitcoin mining hosting provider Bitcoin ASIC Hosting, a subsidiary of Bitfund, is now hosting up to 1 Megawatt of hydroelectric capacity at $100 per kilowatt in Central Washington State. A 2.5 Megawatt expansion is also underway.
The mining of crytocurrency like Bitcoins is the process of creating new currency by verifying the transactions in the public ledger or “blockchain”. The cost of verifying transactions is the capital cost to buy miners, the power consumption of running the hardware, as well as operational expenses to keep the operation running. Thus, power capacity is significant to miners and to mining hosts.
Bitcoin ASIC says it has developed new cooling methods alongside efficient power mapping to construct an efficient cryptocurrency-specific datacenter. According to the Seattle company, the facility will be running on completely green power from Columbia River hydroelectric dams at $100 per kilowatt.
Since May 2012, Bitcoin ASIC Hosting has developed its customer service relations in addition to its maintenance and upkeep procedures. The hosting provider expanded into co-locating scrypt ASICs, providing hosting for upcoming altcoin mining operations. The company reports that it has isolated the demands and density requirements of the evolving cryptocurrency mining market, constructing a facility capable of handling units and boards of all varieties.
The expansion of their megawatt datacenter is the natural progression of the company. Having taken no outside investment or customer presales for their projects, Bitcoin ASIC Hosting is completely dedicated to their clients. Bringing online one full megawatt of capacity allows miners of every scale to experience worry-free mining in the affordable hands of experts.
Hosting for currency mining is provided immediately on a first-come first-serve basis with flexible plans to accommodate the needs of each individual miner.
Three years ago, Bitcoin ASIC Hosting was set up by the founders of Bitfund, Allen Oh and Lauren Miehe.