iDrive Attempted To Mine Bitcoin with 3000 Servers

iDrive Attempted To Mine Bitcoin with 3000 Servers:

‘via Blog this’

Cost of mining bitcoins
Although iDrive owns 3,000 servers, they decided to use 600 (each with a quad core processoroperating at 2.8 GHz) for their tests. Their study projected a year of mining at 100% processing power, 24 hours a day and 7 days a week with the difficulty of mining increasing linearly. They also assumed that there would be no additional charge for operating their servers constantly at full power for a whole year. iDrive pays a set rate for a certain amount of electricity which they use to power the servers. The servers usually run at about 5% of their capacity during non-peak times. However, while mining bitcoins, the servers would operate at 100% the entire time. If they paid more for the increase in the amount of electricity used, this increase in energy would naturally cost more. Also coming into play was the potential that additional server usage would wear out the servers faster, as they would be operating at a higher capacity for longer amounts of time. This could shorten their lifespan and require replacing servers more frequently, which is another added cost. Also, it is possible that they could eventually exceed their allowed electricity usage, which would result in their servers being shut down.

Advertisements

Author: Protiguous

C# Software Developer, Father, and seeker of Truth.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s