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Genesis Mining Offers Hive to Large-Scale Bitcoin Miners

Avatar newsbtc 5 years ago

Genesis Mining, one of the largest bitcoin mining companies around, recently updated its web interface to give bitcoin miners better control over their digital currencies. The company is now offering Genesis Hive, which was previously intended for internal use, to large-scale bitcoin miners.

The price at which this service is offered depends on the number of mining units connected to the service each month. This service is also expected to be made available to smaller scale bitcoin miners later on.

Bitcoin Miners Operations

“While this has improved efficiency it has also lead to new problems in the mining space. A couple of years ago, no one could have dreamed of thousands of devices mining bitcoin in a single location, and there was no software to handle a setup of this size,” said Genesis Mining CEO Marco Streng. He says that the service aims to reduce complexities associated with large-scale operations of bitcoin miners.

“Hive does not require you to install any software on your individual rigs and will adapt to whatever network and hardware setup you deem most appropriate,” he continued. “Switching or adding pools, upgrading firmware, rebooting etc is done in a matter of a few clicks on any number of devices simultaneously.”

In addition, Genesis Hive can allow users to perform bulk updates, pool changes or establish automatic tasks depending on individual environmental needs. Users will be able to monitor and control their mining rigs through Genesis Hive’s dashboard, obtaining hashrate, temperature, rig statuses and power consumption calculations. Additional control is available for units in certain geographies.

This launch is also said to be made at an appropriate time when bitcoin prices are making it unprofitable for bitcoin miners to sustain operations. Other bitcoin mining companies are shifting to less extensive mining services geared at small-scale miners.

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