Mining Bitcoins in the cloud catches on
September 10, 2014
Grazed from CloudComputingTech. Author: Editorial Staff.
Josh Garza, the CEO of GAW Miners, first made a name for himself by building one of the top online retail stores for cryptocurrency mining equipment. Garza has pivoted that operation into the cloud by launching what he has dubbed hashlets. These hashlets are designed to create Bitcoins using a combination of ASIC (Application Specific Integrated Circuits) and cloud data center technology.
CloudWedge first reported on organizations wanting to use cloud to mint Bitcoins back in March 2014. The write up chronicled CloudHashing.com’s method of selling cloud contracts that “Reserves a certain amount of computational power for your own Bitcoin mining endeavours.” Garza and GAW Miners look to gain a piece of this market share by shifting his company from the online retail world. Instead of selling Bitcoin mining hardware, GAW Miners has pivoted into selling cloud mining contracts. According to Garza, the move was met with unprecedented success…
Garza tells DCKnowledge, “I saw that shipping hardware to people wasn’t going to last forever, so I worked on a plan to migrate our business to a cloud model.” Garza continues by mentioning that his eCommerce provider was knocked offline by the enormous amount of interest in cloud bitcoin mining contracts. In fact, Garza said, “We had to slow down because we were running out of data center capacity.”…
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