ViaBTC increased cloud mining commission

The main reason for raising the commission is the lack of resources
16 January 2018   167

The Chinese Mining Pool ViaBTC announced its intention to increase the commission charged under the contracts for cloud mining, citing increased pressure from regulators.

ViaBTC reports that it will temporarily raise the commission for servicing the AntMiner S9 miners, which are provided to customers through cloud mining contracts, from 6% to 50%. At the time of publication, ViaBTC accounts for 14.1% of the hash-capacity of the bitcoin network.

As a reason for such a decision, ViaBTC noted the deficit of the mining resources in China, caused by the latest actions of local regulators.

Recently, due to policy changes, some of our long-term hosting partners are facing a crisis of farm closure as mining resources in Mainland China become more scarce, leading to rocketing costs of our cloud mining operation. To guarantee the long run of cloud mining, ViaBTC has no choice but have to readjust our maintenance fees. 

ViaBTC Team

Although ViaBTC reports that these measures are temporary, the specific time frame isn't specified. At the same time, users who are owners of mining contracts for AntMiner S9 have the right to cancel them before January 18.

Cheap Hydropower in Oregon Attracts Miners

During few months, a few bitcoin miners have been heading to regions in North America
23 February 2018   95

According to the local press, miners are starting operations in the area because of concentrations of cheap electricity.

In the state, there are roughly 12 more mining operations. For instance, in a small town called Dalles located the biggest mining operation in the state called Oregonmines, which is operated by Terrence Thurber. It is an industrial-sized operation with over 2,750 mining rigs in a warehouse with no windows. Robert McCullough of Portland General Electric (PGE) stated that more companies are on the way. He is not impressed by the mining movement in Oregon. In his opinion, Oregon may become the center of crypto-mining in the world.

We may find our burgeoning surplus of energy will make us quite a capital for useless servers solving useless puzzles. It’s not as if we have a huge amount of employment attached. It’s not as if you’re going to have a big staff and a lot of smart people working on it.

Robert McCullough

Portland General Electric consultant 

One of the biggest reasons miners are attracted to Oregon is because of the Columbia River hydropower system. The hydro-powered electricity costs 3 to 4 cents per kilowatt-hour. It is almost the lowest price in the U.S.

According to the Oregonmines founder, the location is also helpful because the facility is close to a major metro, and weather patterns are favorable.