There’s a lot of talk today about cloud hashing. It’s a way for miners to, well, mine without having to make incredibly large investments in collocation facilities, hardware, electricity, and system upkeep.
And it’s incredibly popular.
Just ask Newnote Financial Corporation, who recently sold out of their new ‘Newnote Miners’ cloud hashing service in a mere twelve hours.
The company has announced today that they’re ready for more action, adding a whopping 100 terahashes to its cloud hashing capacity, allowing even more clients to come on board with mining contracts.
“The demand for Newnote’s cloud hashing services was overwhelming, showing that the Company is offering a service that meets the needs of the marketplace,” said Newnote President and CEO Paul Dickson. “As a result, the Company has been sourcing additional computing capacity. This trial run is only the beginning; additional computing power is planned for the near future.”
It’s unclear just how much additional capacity is planned, but what is clear is that cloud hashing is a multi-million dollar business.
Newcomers to bitcoin are especially attracted to the concept of cloud mining, now that mining with traditional computer hardware is all but useless.
Users of the Newnote Miners service have the option to choose a number of different mining contracts from one day to twenty-four months, with the option to select hashing power.
Newnote Financial is a bitcoin-oriented company that caters to the business segment of the industry through the development of crypto-currency software and services.