Samsung Made a Bitcoin Mining Rig Out of 40 Old Galaxy S5s

Samsung’s new “upcycling” initiative will allow you to put a completely new operating system on your old phones to give them new life.

Source: motherboard.vice.com/en_us/article/3kvdv9/samsung-upcycling-galaxy-s5-bitcoin-mining-rig

 

A Tokyo-listed company is spending over $3 million to get into bitcoin mining

News from Japan over at Quartz.com

GMO Internet Group, based in Tokyo, normally does incredibly boring things like registering domain names and hosting web services. But it, too, has caught the bitcoin fever, one that some people think has created a bubble in valuations.

GMO announced today that it plans to spend more than $3 million to start mining bitcoin in the first half of next year. Some $10 million is available for bitcoin miners to accumulate each day, at the current bitcoin price of around $4,600. The firm says cryptocurrencies like bitcoin will evolve into “universal currencies” that will create a global “borderless economic zone.”

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Source: qz.com/1071926/japans-gmo-internet-group-plans-a-300-million-investment-in-bitcoin-mining/

Chinese Producer: Bitcoin Mining Chips In Household Appliances

Cointelegraph. com reports that Chinese electrical appliances manufacturer, and Fortune500 Company,  the Midea Group, has filed a patent for a technique for mining Bitcoin using household products.

The patent application was published earlier in 2017 by the State Intellectual Property Office (SIPO) of the People’s Republic of China.

Based on the patent application, Midea plans to embed specialized mining chips inside its appliance products like air conditioners, dehumidifiers, and TV for the purpose of digital currency mining. Once the chips are programmed, the products will then connect to a cloud-based service and contribute their hashing power to mine cryptocurrencies.

Source: cointelegraph.com/news/chinese-producer-embeds-bitcoin-mining-chips-in-household-appliances