Connect with us

News

Bitmain announces the launch of a mining map to connect mining hardware owners with farm owners

Chayanika Deka

Published

on

Source: Pixabay

Beijing-based mining equipment manufacturer Bitmain has been in the news lately, following several developments in its ecosystem. With Bitcoin’s hash rate constantly hitting new all-time highs, Bitmain is trying to keep up with miners by launching new and powerful models of Bitcoin mining devices. Despite the plummet in the price of Bitcoin, the hash rate of the king coin has hit an all-time high of 108 TH/s, at the time of writing.

In a recent update, the company revealed that it would launch a platform that would connect mining hardware owners with mining farm owners through the World Digital Mining Map [WDMM]. Bitmain is expected to release this platform during the World Digital Mining Summit, which is scheduled for 8, 9 and 10 October 2019 in Frankfurt.

According to a press release, Bitmain is taking up this initiative as owners of mining equipment constantly search for locations that meet the required criteria for crypto-mining and the yet-to-be launched platform would allow mining farms to offer their services to these owners for a fee. Bitmain’s platform claims to be the first of its kind.

Director of Bitmain’s mining farm, Matthew Wang, said that the latest platform comes as a part of the company’s initiative to support the overall growth of the sector. He said,

“The WDMM will help make cryptocurrency mining more sustainable in the long-run by connecting mining farms and hardware owners in a whole new way.”

Furthermore, owners of these mining farms would have to apply during the forthcoming summit in order to be listed on the WDMM. Applicants would be given personalized services that include support with mining farm designs, links to foreign customers, along with assistance with operations, purchasing and construction from the mining giant Bitmain.

Additionally, the applicants are required to provide information pertaining to their current mining farm setup, along with details about their capability to host other miners.

Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.