RUSAL and AA! LAB will build mining farm

It will be located in Karelia by on the basis of aluminum plant
01 December 2017   1853

The United Company RUSAL, the largest aluminum producer outside of China, has established cooperation with the cryptocurrency miner to revive the full-fledged work of one of its aluminum plants in the north of Russia.

RUSAL will build a data center at its Nadvoitsy plant, which will charge for the provision of IT services, such as personal data analysis and technical training. Bulgarian company AA! LAB is working on creating a production capacity for the development of cryptocurrency systems and is the first partner in this project.

The data center will bring a new income to the metallurgical plant, which uses only half of its capacity. The cold climate allows you to use less electricity to keep machinery in good condition. IT companies will also have access to cheap electricity from the nearby En + Group hydropower plant, which serves the plant.

At the first stage, the data center will be equipped with 5000 computational units, servers and workstations, the estimated power consumption of this equipment will be 6 megawatts of energy. The manufacturer also allocated about 12 acres of free space in the territory for future data center needs.

HashFlare Users to Face Withdrawal Issues

Looks like Bitcoin cloud mining is not super profitable
18 July 2018   72

Users of HashFlare mining pool can't withdraw their funds, while their contracts are threatened with a temporary ban. Even lower restrictions on withdrawal of funds in the amount of 0.03 BTC caused problems for users, but the service raised the threshold to 0.05 BTC and 0.1 ETH . This is reported by Cryptovest.

In addition, financial pyramids are often promoted under the guise of mining contracts for cloud mining. For last few months, there was a big jump in mining difficulty of many cryptocurrencies, so, old contacts had become unprofitable.

As reported, the reason for the locked funds dates back further - at the beginning of June, so much hashing power was flowing into the Bitcoin network that contracts saw all the mined coins go toward their maintenance fee.

Currently, more and more users who have purchased contracts at earlier stages are facing the fact that they can not withdraw their funds. One of them managed to return the money spent through the bank card operator after filing a corresponding complaint.

To anybody that purchased a Hashflare cloud mining contract with a credit card, it might be possible to get a refund with that credit card as one of my followers tipped me. He bought his contracts at the end of 2017.

bccponzi at Twitter

The hash rate of bitcoin increased from 13 EHash / s at the beginning of the year to more than 40 EHash / s in recent months. The difficulty of mining in the present conditions depends on the circumstances of the specific miner. The cost of bitcoin mining for some of them is $ 4,400, while others spend about $ 5,800. However, in 2018, cloudy mining is called an even more dubious occupation than before, especially when it comes to mining bitcoin.