By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData Collective
  • Analytics
    AnalyticsShow More
    data science anayst
    Growing Demand for Data Science & Data Analyst Roles
    6 Min Read
    predictive analytics in dropshipping
    Predictive Analytics Helps New Dropshipping Businesses Thrive
    12 Min Read
    data-driven approach in healthcare
    The Importance of Data-Driven Approaches to Improving Healthcare in Rural Areas
    6 Min Read
    analytics for tax compliance
    Analytics Changes the Calculus of Business Tax Compliance
    8 Min Read
    big data analytics in gaming
    The Role of Big Data Analytics in Gaming
    10 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Mining Bitcoins in the Cloud Catches On
Share
Notification Show More
Latest News
ai in automotive industry
AI Is Changing the Automotive Industry Forever
Artificial Intelligence
SMEs Use AI-Driven Financial Software for Greater Efficiency
Artificial Intelligence
data security in big data age
6 Reasons to Boost Data Security Plan in the Age of Big Data
Big Data
data science anayst
Growing Demand for Data Science & Data Analyst Roles
Data Science
ai software development
Key Strategies to Develop AI Software Cost-Effectively
Artificial Intelligence
Aa
SmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Uncategorized > Mining Bitcoins in the Cloud Catches On
Uncategorized

Mining Bitcoins in the Cloud Catches On

CloudWedge
Last updated: 2014/09/11 at 8:22 AM
CloudWedge
3 Min Read
SHARE

Bitcoin

Bitcoin

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 endeavors.” 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.

More Read

interesting facts about blockchain technology and bitcoin

7 Things You Didn’t Know About Blockchain or Bitcoin

The Cloud Creates Opportunities for Algerian Bitcoin Investors
Developments in AI and IMF Positions Can Make Bitcoin Legally Tender
Pros and Cons of Buying Cryptocurrency with Blockchain ATMs
Freelancers Use Big Data To Streamline Cryptocurrency

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.”

Garza’s candid comments continue as he talks about how he got into the Bitcoin industry. “I got into mining as a hobby, as a lot of people do. I ran into some unsavory companies and lost money on a couple of deals. I just wanted to create an alternative so people could do business with confidence. And it kind of exploded.”

Garza recently shelled out over $1 million for the domain name BTC.com and GAW recently bought out ZenMiner for $8 million in order to expand his this growing Bitcoin cloud mining endeavors. At current rates, Garza’s hashlet products are expected to give Bitcoin speculators a return on their investment within 2 months.

TAGGED: bitcoin
CloudWedge September 11, 2014
Share this Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

ai in automotive industry
AI Is Changing the Automotive Industry Forever
Artificial Intelligence
SMEs Use AI-Driven Financial Software for Greater Efficiency
Artificial Intelligence
data security in big data age
6 Reasons to Boost Data Security Plan in the Age of Big Data
Big Data
data science anayst
Growing Demand for Data Science & Data Analyst Roles
Data Science

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

interesting facts about blockchain technology and bitcoin
Blockchain

7 Things You Didn’t Know About Blockchain or Bitcoin

9 Min Read
bitcoin traders in Algeria discover opportunities with the cloud
Blockchain

The Cloud Creates Opportunities for Algerian Bitcoin Investors

9 Min Read
ai leads imf to endorse bitcoin
Blockchain

Developments in AI and IMF Positions Can Make Bitcoin Legally Tender

8 Min Read
bitcoin ATMs
Blockchain

Pros and Cons of Buying Cryptocurrency with Blockchain ATMs

7 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

AI chatbots
AI Chatbots Can Help Retailers Convert Live Broadcast Viewers into Sales!
Chatbots
ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US

© 2008-23 SmartData Collective. All Rights Reserved.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?