Tag: mining

Chinese bitcoin mining outfit builds huge data centre

mine The Chinese bitcoin mining outfit Bitmain, is building a massive 45 building solar-powered data centre complex in China.

The complex will be the world’s third most powerful data centre and will operate primarily on wind and solar power. According to Bitmain the entire centre will be dedicated primarily to bitcoin mining and it plans to open source the centre’s detailed plans. Bitmain is hoping that this will improve data centre efficiency for bitcoin miners worldwide.

Jihan Wu, Co-CEO of Bitmain, said: “We have seen that most data centres in the mining industry are wasting considerable money or other resources.  We want to provide a more professional and cost-saving example to the industry.”

However the news was not exactly welcomed by the bitcoin mining community, many of whom are concerned with the increasing power of Chinese bitcoin mining pools driving the cryptocurrency market. One of the reasons they like cryptocurrency is that it is decentralised and if one country gets too much of the action it defeats the purpose.

Bitmain already controls an estimated 18.6 percent of hashpower worldwide, and many independent miners in the community expressed concern that controlling a massive data centre dedicated to mining bitcoin would give the company too much influence over bitcoin.

Bitmain said that it will not own all of the planned facility. “A majority is owned by other miners who can mine bitcoin or any altcoin with any hardware they prefer.”

The Bitmain facility was originally scheduled to be completed by the end of 2016, but the timeline may be extended due to an unusually cold winter in Xinjiang this year.

E-waste reclamation could yield billions in gold, silver

E-waste has long been a major problem for developed countries. At least that is the official line. It never was – it was merely shipped to the third world, exotic destinations with plenty of cheap labour and few environmental safeguards.

Venture Beat believes things could be about to change, not because of altruism, but because e-waste is worth billions.

The Global e-Sustainability Initiative estimates that 320 tons of gold and 7,500 tons of silver is being used in electronics worldwide. According to Gold & Silver Buyers, the precious metal content of obsolete devices is up to 50 times higher than the ore in an average gold mine.

With some 50 million tons of electronic waste thrown out every year, the potential is staggering.

There are between 300 and 400 grams of gold in every single metric ton of electronic waste. It seems like there is a lot of potential in “urban mining” and some particularly rich vanes are mobile devices, mice and keyboards, and of course computers.

Mind you, it is not a tree-hugger’s pipe dream, either. The largest e-waste processing site, located in Guiyou, China, processes 1.5 million tons of e-waste each year, generating $75 million in revenue in the process.