Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Europe’s largest Bitcoin ATM provider – Cointed – is working along with chip-maker NVIDIA to promote green mining activities for virtual digital currencies.
With the meteoric rise in the popularity along with the price of Bitcoin, there has been a growing participation of miners from around the globe. Bitcoin mining has turned out to be a very profitable and lucrative activity as it provides a very attractive source of income. However, these days, Bitcoin mining activities require high-end computing machines which are said to be power guzzlers.
As on date, data shows that Bitcoin mining activities alone consume 0.13% of world’s electricity production. The energy consumed by Bitcoin mining machine in a single day is said to be equal to weekly consumption in electricity by an average household in America. Analysts have said that looking to the growing popularity of cryptocurrencies if the mining activities continue to persist for over a decade, the world might face a severe shortage of electricity and moreover can have a devastating effect on the environment.
As a result, most of the new mining facilities are being developed and created at places that provide hydro and wind power generation. Europe’s largest digital currency exchange and Bitcoin ATMs provider – Cointed – is all set to revolutionize the green mining industry in the later part of Q4/2017.
To set a new precedence in terms of innovation and research in mining digital currencies, Cointed has joined hands with one of the world’s biggest GPU designer NVIDIA. In order to provide the best services to its clients, Cointed has decided to have its own custom-made mining hardware and software.
Cointed is said to have already pre-ordered 125,000 custom-made GPUs by Zotac and NVIDIA which are designed specifically for Cointed facilities. Out of the total pre-ordered GPUs, 18000 are already assembled in 2000 rigs each having 9 cards and are in the fully operational condition in a warehouse facility in Sweden.
The rigs are designed in a way that they completely optimize the GPU performance. To minimize the issues pertaining to over-heating, the traditional fans in the rigs are replaced by heat-sinks. The rigs are so designed that the fans are located on the case that allows for better air circulation thereby improving cooling and making maintenance easier. The motherboards are systematically customized to synergize with other components.
Another thing which Cointed brings to its advantage is having a completely built-in software and their dedicated OS to work with the GPUs for optimal performance in synchrony with other custom parts. Mining using Cointed rigs is like owning the rigs yourself.
Having widespread activities and businesses around cryptocurrencies, Cointed gets an upper edge over its other competitors in the field. Cointed is currently the only major Bitcoin ATM provider to provide support for five different currencies like Bitcoin, Litecoin, Ethereum, Zcash and Dash.
In order to expand its business, Cointed is currently holding an ICO campaign. THE CTD Token provides a way to get access to some of the exclusive deals at Cointed and gain early benefits like:
- Discounts on ATM fees, software licensing as well as exchange;
- Mining: 15% discount on rigs and 5% hosting fees;
- Access to GPUs with 25% increased performance and inhouse BIOs;
- Discounts on crypto cards;
- PayCo discounts: 15% POS and 20% lower fees;
- 5% lower hosting fees;
- 15% off on mining equipment
To contribute or take part in their ICO campaign, visit the official Cointed website for further details.