Operation Wants To Mine 10% of All New Bitcoins

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An anonymous reader writes: “Mining new Bitcoins is computationally expensive — you can’t expect to do much on your standard home computer. Many miners have built custom rigs to mine more efficiently, but it was only a matter of time until somebody went industrial. Dave Carlson’s goal is to mine 10% of all new Bitcoins from now on. He’s built literally thousands of units. They collectively use 1.4 million BitFury mining chips, which are managed by a bunch of Raspberry Pis. ‘The current rigs each contain 16 boards, with each board containing 16 BitFury chips, for a total of 256 mining chips on each rig. Carlson said about 90, 000 processor boards have been deployed, which would put the number of rigs at about 5, 600. A new board [being designed] will have 756 chips on each rig instead of 256.’ Carlson says his company spent $3-5 million to get everything set up. They current generate 7, 000 — 8, 000 Bitcoins per month, which, at current rates, would be worth over $4 million.” Read more of this story at Slashdot.

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Operation Wants To Mine 10% of All New Bitcoins

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