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Gerard Moore 27 / March / 21

Data mining in cloud computing

Crypto currencies data mining cloud computing
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In simple terms, everyone knows that you need special equipment for crypto currency mining. If you have sufficient financial means, you can purchase all the required equipment, build your own farm for computing and start mining crypto currency you are interested in. In this case, this will be called ordinary mining. 

In turn, crypto cloud computing assumes roughly the same kind of ownership of mining equipment but virtually. Meaning, you do not have to negotiate the delivery, collect packages, look for a suitable place in the room and make sure that they do not overheat and perform their functions normally. A new model of passive earnings using cryptocloud mining created at home or rented premises makes it possible to obtain substantial profits. The equipment is managed by the contractor; the investor leases computing power. You will only monitor the performance of the mining farm through an online interface and take profits.

Companies that provide cloud data mining services produce equipment for this process themselves (ASIC). This significantly reduces the cost of crypto currency mining and the centralization of data centers engaged in mining reduces the maintenance costs by 2-3 times. This business model is a mutually beneficial cooperation between data centers and tenants. The company pays for ultra-fast stable Internet and not you.

crypto cloud

Services for cloud mining relieve customers from problems of traditional crypto currency mining. Difficulties experienced by "home" miners are:

Some of the companies that provide opportunities for data mining in cloud computing take part of the profits in the form of a commission. This amount includes payment for electricity and maintaining video cards in the right condition. 

States make a significant discount for enterprises with high electricity costs so the cost of electricity for crypto farms is small. There is a shortage of video cards on the market and even inveterate "home" crypto currencies miners switch to cryptocloud; lately, buying equipment for independent mining is not a cheap pleasure.

Selection for mining services

Pay attention to the following criteria:

Advantages and disadvantages of cloud mining

Positive sides:

Of course, one crypto currency does not limit the possibilities of the farm. This is the advantage of GPU cloud mining- you can get any currency, no matter what mining algorithm it has. For example, HashFlare uses some of its farm's capacities to experiment with new promising currencies such as Dash coin and others. 

Disadvantages of cloud mining:

Investing in cryptocloud services is a wise decision to save and multiply funds. It is much easier to obtain crypto currency through special websites due to the high power of leased servers. Having chosen to get tokens through the cloud, you do not have to pay for electricity and keep the computer on all day. The lack of round-the-clock monitoring, the need to install software and other side costs associated with the classic mining of altcoins significantly saves both time and money of the miner. Before investing money, we recommend that you carefully study the users' feedback. You must have confidence in making a profit but the main thing in investing is saving the money you have.


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