21-08-2017
08:28 am
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Envoy Group Improves Upon Cryptocurrency Mining through Centrally Managed Operating System




Their stock is publicly traded, though, and this new development can have an interesting effect on its value.

Various companies around the world show an interest in cryptocurrency these days. Envoy Group is a company focusing on mining, blockchain, and digital currency. In a recent announcement, the company mentions how they improve the management of their mining infrastructure. A new operating system is in use, which improves efficiency of the entire operation. All mining hardware is now centrally managed and monitored. An interesting development, although few people know this company even exists.

Envoy Group is not a name most people associate with cryptocurrency mining. That isn’t entirely surprising either, though. Their bread and butter is mining digital currencies. To do so, the company uses GPU technology rather than ASIC miners. This indicates they aren’t mining Bitcoin but altcoins, which can be pretty profitable. All of their mining arrays are located in a secure facility located in British Columbia. Maximizing profitability is always the number one priority for this company.

Envoy Group improves GPU Mining Infrastructure

To do so, the company has created a new solution. More specifically, their BitReturn division is able to improve mining operations. A new operating system has been created to maximize GPU mining efficiency. Additionally, it allows for easier monitoring and managing of the hardware in use. Reduced labor requirements and improved scalability are the main selling points of this development. It doesn’t happen often mining companies publicly share their advancements in this regard. However, even companies such as Envoy Group need to cut down on labor costs whenever possible.

Even though some people won’t admit it, cryptocurrency mining efficiency is affected by human error. More specifically, human error causes profitability, uptime, and efficiency to suffer over time. Envoy Group’s new product is designed to make those problems go away altogether. It is an ambitious development, though, considering they control thousands of GPUs at any given time. Large mining operations can certainly benefit from better operating systems. Additionally, it will improve overall earnings, which is never a bad thing.

According to the press release, Envoy Group is keeping tabs on a few altcoins to mine. That list includes ZEC, Sia, Ethereum, Monero, and Dash, among others. Those are all coins with a mining algorithm nearly unaffected by ASIC mining. Using GPUs to mine cryptocurrencies can certainly be profitable. However, it requires mining the right currency at the right time. This new operating system will switch between profitable coins automatically. Do keep in mind BitReturn doesn’t sell cloud mining contracts. The parent company’s stock is publicly traded, though, and this new development can have an interesting effect on its value.

Published by

JP Buntinx

JP is working hard to bring more credibility to the Bitcoin and blockchain news industry. Outside of being Europe Editor at Newsbtc, JP is also an active writer for the website, and does not shy away from letting his opinion be heard.

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