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Browse: Home / 2013 / December / 22 / Into the Bitcoin Mines – DealBook

Into the Bitcoin Mines – DealBook

By Securities Docket on December 22, 2013, 11:01 am

This brings you to the center of the operation, a fluorescent-lit room with more than 100 whirring silver computers, each in a locked cabinet and each cooled by blasts of Arctic air shot up from vents in the floor.

These computers are the laborers of the virtual mines where Bitcoins are unearthed. Instead of swinging pickaxes, these custom-built machines, which are running an open-source Bitcoin program, perform complex algorithms 24 hours a day. If they come up with the right answers before competitors around the world do, they win a block of 25 new Bitcoins from the virtual currency’s decentralized network.

via Into the Bitcoin Mines – DealBook

Posted in Industry, Top | Tagged Bitcoin

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