KnCMiner Launches Cloud Mining Service at Arctic Bitcoin Mine

Bitcoin mining hardware produce KnCMiner introduced new cloud-mining program KnC Cloud.

The new program, which was launched on the 2nd of September, will leverage the KncMiners' data center space in northern Sweden. The mining power of the so-called Clear Sky mine totals over 7 petahashes per second. Photo: kncminer.com

The new program, which was launched on the 2nd of September, will leverage the KncMiners' data center space in northern Sweden. The mining power of the so-called Clear Sky mine totals over 7 petahashes per second. Photo: kncminer.com

Stockholm-based bitcoin mining hardware manufacturer KnCMiner, who produces cutting edge ASIC miners, presented a new cloud-mining service called KnC Cloud. It offers six-month long contracts out of its Arctic bitcoin mine.

The new program, which was launched on the 2nd of September, will leverage the firm’s data center space in northern Sweden. The mining power of the so-called Clear Sky mine totals over 7 petahashes per second.

The geographical position of KnC Cloud provides such benefits as cheap cooling and local renewable energy sources at the Arctic Circle. These advantages tend many bitcoin companies to look to the Arctic.

Speaking to CoinDesk, Nanok Bie, marketing and PR director at KnCMiner, told that the launch demonstrates a demographic shift in the bitcoin space. A lot of miners prefer to outsource their hashing power instead of operating hoe mining rigs.

He said: “We’re launching cloud services because of shifts in the market and demand from would-be customers. Home mining is becoming more and more difficult because of energy costs etc. Having your mining in the cloud has obvious advantages  – we can source green electricity cheaper for instance, and have other bulk advantages.”

The KnC Cloud program includes three packages from 1 to 3 TH/s, the price of which totals between $1.99 per GH/s to $1.79 per GH/s.

Bie also told that the new service shows how mining services may evolve within months and years. He noted: “We think our offerings will stand out over the long run, as customers don’t have to stand in line in an auction, don’t have to worry about the Chinese renminbi currency exchange versus USD or BTC to calculate costs going forward and we’re also not offering strange products where the users don’t know where they are mining, if they are mining at all etc. Our fees can not rise over time as there are no fees.”

KnC Cloud provides its users an interface with tools for balance management, miner configuration and information for performance analysis.

Before launching the new cloud, KnCMiner has made several announcements. Thus, earlier this month the company said it is on the final stages of the Titan line scrypt miners production and is moving to the testing stage. KnCMiner also clarified the final projected hashing power of the unit and the expected power requirements.

Besides, on 27th of August the company announced that its mobile wallet app is going to use ‘bits’ instead of bitcoins.

In June, KnCMiner has defended itself against claims it had potentially attempted to mislead its customers with its new offering, Neptune bitcoin miners.

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