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With Bitcoin Price Going Up, People are Again Interested in Crypto Mining

Crypto mining is once again in the spotlight.

Earlier this week, news about a Bitcoin enthusiast building a crypto mining rig in his BMW hybrid swapped over social media. Some praised his innovativeness; others berated him for using six Nvidia RTX 3080s to “annoy gamers.”

The story went viral, overshadowing some other stories about crypto mining. For instance, Blockstream bought $25 million worth of crypto mining equipment. Furthermore, Rhotex Inc launched an environmentally-friendly crypto mining product this week.

Before that, news came from Russia about an oil company launching a cryptocurrency mining facility powered solely on gas. Finally, there were also reports about MSI releasing an Nvidia graphics card for cryptocurrency mining use-only.

We’re now going to discuss all of those stories!

Blockstream Buys Crypto Mining Equipment for $25 Million

Earlier this week, cryptocurrency giant Blockstream confirmed the purchase of $25 million worth of crypto mining gear.

The ASICs are to be deployed all over Blockstream’s facilities in the US and Canada with the intention of boosting the company’s mining capacity.

Before the purchase, Blockstream had a capacity of more than 300 megawatts. With new machines, the capacity could increase by several times.

Rhotex Inc Starts Its Green Crypto Mining Rigs

The Canadian manufacturer of crypto mining equipment has released three new products on Wednesday โ€“ RHO Lite, RHO Pro, and RHO Rack.

All of those are miner cases with an integrated cooling system meant to ensure 100% efficiency. Low consumption of energy with a high-performance output is just one of the reasons why Rhotex miners are expected to become a hit in the crypto community.

Another reason is that they come with pretty high hash rates, with up to 4100 TH/s for Bitcoin and 20 GH/s for Ethereum. What’s not so great is that the most powerful model from the new offer costs just under $13,000.

Russian Oil Company Gazpromneft Starts Bitcoin Mining

Gazpromneft, which is the oil subsidiary of Russia’s natural gas giant Gazprom, has started mining Bitcoin in northwestern Siberia. What’s interesting is that the mining farm is powered by oil and natural gas.

The CO2 that’s freed during the oil/gas drilling process is usually a liability. Not only is it dangerous, but it’s also a complete waste of money. Instead of letting it go, Gazpromneft decided to take advantage of the CO2 emissions โ€“ the company is using it to create electricity to power its Bitcoin mining facilities.

Nvidia Could Release Nvidia RTX 3060 Ti Just for Crypto Mining

It’s a known fact that there’s a scarcity of Nvidia RTX 3000 series cards โ€“ everyone wants them, including both gamers and crypto miners. As a Twitter user spotted a week ago, MSI seems to be working on the development of the graphics card that’s supposed to be used for crypto mining purposes only.

If (or better say, when) it’s released, the chipset is expected to offer more bang for the buck than most of its competitors. In turn, this could lead to an increase in mining operations around the world.

The new GPU would make Bitcoin mining faster and more profitable than ever, especially for “small miners”.

Janneke Eriksen

Janneke is a writing ninja and has vast experience in journalism, specifically in the crypto space. As a blockchain believer and avid Bitcoin fan, sheโ€™s incredibly excited to share to our readers the latest news around so they are always updated wherever they are.