Let’s get right to it. If you are unaware of Bitcoin, AceHost can educate you on what it is.
What’s Bitcoin?
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
What is Bitcoin Mining?
Bitcoin Mining is performed by high-powered computers that solve complex computational math problems. The problems are so complex they cannot be solved by hand and are so complicated to tax even incredibly powerful computers.
In simpler form, Bitcoin mining is the process of creating new bitcoins by solving a computational puzzle.
To take it a step further, if you have been mining Bitcoin and turning out a profit, you probably don’t keep the miners in your living space. However, did you know that you can store miners in a colocation facility? AceHost is going to dive deeper into a colocation facility and give you the information you need.
Bitcoin Miner Hosting and Colocation
When hosting your servers, the colocation center is used to host ASIC miners. These centers guarantee that everything is properly set up and remove any worries from the server owner.
Colocation is when individuals bring their own server to a data center. These data centers are ideal for ASIC mining Bitcoins. Colocations are convenient and offer more space. The facilities have racks and cabinets in which servers can be placed and each cabinet has a connection to the internet power. Additionally, you can always feel at ease because colocation centers have strong security.
AceHost is a colocation center.
ASICs and GPUs
What are ASICs? Is the acronym for “application-specific integrated circuit.” It is a type of circuit that has been designed for a single specific purpose. An ASIC miner refers to a device that uses microprocessors for the sole purpose of mining digital currency. A key takeaway is ASIC is specialized for bitcoin or cryptocurrencies.
Bitcoin miners review and verify previous bitcoin transactions and create new blocks so that the data can be added to the blockchain.
There are other devices you can use to mine bitcoin like GPU.
GPU stands for “Graphical Processing Unit.” They have a higher processing speed than Central processing units (CPUs). GPUs are responsible for digital rendering in a computer system. GPUs are more useful in blockchain mining due to their high speed and efficiency. In fact, GPUs mine 800 times faster than CPUs.
Is Colocation Right for You?
Bitcoin’s popularity is beginning to increase, which means the number of companies offering colocation is increasing too. When looking for a colocation you may want to consider:
- If you want specialist services
- If you are willing to pay other people to eliminate the hassle from your life
- If you seek redundancy
- If you want safety and security
These are the four factors to consider if you are considering using a colocation center. If you decide to contact a data center provider there are also a few things to understand before going to a colocation center.
- What are your power requirements?
- How many kilowatts do you need?
- What is the amount of space you need in terms of racks?
- What budget do you have designated for colocation?
- How much money can you spend and remain profitable?
Colocation facilities are great if you are invested in Bitcoin mining and bitcoin miner hosting. AceHost is available to be the safe center for you and help you with your bitcoin needs. AceHost will be upfront with costs and help answer all of your questions.