- Genesis, for example, keeps cost down by remotely monitoring conditions in its mining farms and adjusting its fans and cooling .
- The mining keeps the whole system going.
- Bitcoin is now accepted by major organizations including U.S. online retailer Overstock.com and travel company Expedia.
- Because the bitcoin miners operate autonomously, it is hard to track their numbers and size.
- Bitcoin ‘miners’ face fight for survival as new supply halves
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#Bitcoin ‘miners’ face fight for survival as new supply halves
From Yahoo Finance: Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins. Bitcoin can be used to send money instantly around the world, using individual bitcoin addresses, free of charge with no need for third party checks, and is accepted by several major online retailers.
Bitcoin ‘miners’ face fight for survival as new supply halves