Hong Kong Sets Up Massive Bitcoin Mining Operation
Posted on December 4, 2013
Bitcoin is all the rage these days. The online currency, whose value has fluctuated tremendously over the past few years, has received global attention, especial in Hong Kong, where one young journalist got some photos of a bitcoin mining operation being set up in a Kwai Chung Industrial Building.
Bitcoin “miners” help to create the encrypted currency, but the demands of creating it ensures that a better infrastructure is necessary as demand and production increases.
As such, making bitcoins at home is possible but becomes increasingly difficult. As production increases, bitcoin creation is halved every four years until 21 million bitcoins have been created. When it reaches this number, bitcoin production will cease.
This new bitcoin production facility, which began construction in August of this year, contains “one-meter-high transparent glass tanks, copper piping, cooling machines and computer boards soaked in bubbling 3M cooling liquid.” Bitcoin mining began only in October, so this facility is hoping to be at the forefront of production.
Hong Kong is looking to be a leader in bitcoin mining, and this giant facility is a great start.