Coinmine is a new startup that aims to make in-house mining accessible to non-technical users, based in Los Angeles and founded by Farb Nivi and Justin Lambert. The company has reportedly raised about $ 2 million from VC funds and angel investors such as Coinbase Ventures and Brian Norgard, Tinder's chief product officer.
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$ 799 Plug and Play Miner
<img class = "alignright size-medium wp-image-246064″ title=”Coinbase Ventures Backs Home Crypto Mining Startup Coinmine” src=”https://news.bitcoin.com/wp-content/uploads/2018/11/home-mining-300×188.jpg” alt=”Coinbase Ventures Backs Home Crypto Mining Startup Coinmine "width =" 300 "height =" 188 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/11/home-mining-300×188.jpg 300w , https://news.bitcoin.com/wp-content/uploads/2018/11/home-mining-768×480.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/11/ home-mining-1024×640.jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/11/home-mining-696×435.jpg 696w, https://news.bitcoin.com/wp- content / upload / 2018/11 / home-mining-1392×870.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/11/home-mining-1068×668.jpg 1068w, https: // news.bitcoin.com/wp-content/uploads/2018/11/home-mining-672×420.jpg 672w "sizes =" (maximum width: 300px) 100vw, 300px”/>On Wednesday, Coinmine's debut device was offered for sale with a 4 GB AMD RX 570 GPU, Intel Celeron CPU and 8 GB DDR4 RAM. In addition, it consumes only 120 watts, which is less than a Playstation, according to the developers. Coinmine One is priced at $ 799, but the company takes a 5% cut from the proceeds of the mine.
With the goal of simplicity and simplicity, users only need to connect the device to an electricity source, open an accompanying mobile app and choose the resources they wish to extract. From there, Coinmine mobile application monitors and tracks the device from anywhere. Users can see how much they've earned, switch to other cryptocurrencies, or add more devices to their accounts from a centralized dashboard.
"Crypto is not just about buying and selling magic coins on the Internet," said Nivi, Coinmine's CEO. "These are people who combine calculus to decentralize money and information from the hands of the few and into the hands of many, and we've made it easy enough for anyone."
Big investors are rushing to the right
<img class = "alignright size-medium wp-image-246069″ title=”Coinbase Ventures Backs Home Crypto Mining Startup Coinmine” src=”https://news.bitcoin.com/wp-content/uploads/2018/11/coinbase-300×188.jpg” alt=”Coinbase Ventures Backs Home Crypto Mining Startup Coinmine "width =" 300 "height =" 188 "srcset =" https://news.bitcoin.com/wp-content/uploads/2018/11/coinbase-300×188.jpg 300w, https : //news.bitcoin.com/wp-content/uploads/2018/11/coinbase-768×480.jpg 768w, https://news.bitcoin.com/wp-content/uploads/2018/11/coinbase-1024×640. jpg 1024w, https://news.bitcoin.com/wp-content/uploads/2018/11/coinbase-696×435.jpg 696w, https://news.bitcoin.com/wp-content/uploads/2018/11/ coinbase-1392×870.jpg 1392w, https://news.bitcoin.com/wp-content/uploads/2018/11/coinbase-1068×668.jpg 1068w, https://news.bitcoin.com/wp-content/uploads/ 2018/11 / coinbase-672×420.jpg 672w "sizes =" (maximum width: 300px) 100vw, 300px”/>Up to now, Coinmine has raised a total of $ 2 million. The company is backed by funds such as Coinbase Ventures, Social Leverage, Wonder VC and Arrington Capital, as well as angel investors including Tinder & # 39; s Norgard, Balaji Srinivasan, Anthony Pompliano, Ryan Hoover, Josh Jones, Penelope Linge and Tom McInerney.
"Throughout my career, I've worked to make complicated ideas simple, fun, and useful," Norgard said. "At Tinder, we removed the pain associated with creating a dating profile so that people could get to the action." When Farb first came to me with the Coinmine bases, I knew it was a radically new solution. to a messy problem – it was as they say, a perfect match.The limiting factor for climbing in crypto continues to be the complexity for the end user.Futb and the entire Coinmine team are one of the first companies to attack this problem frontally through a mixture of hardware and software. "
Is home mining really a viable possibility in the current market? Share your thoughts in the comments section below.
Images courtesy of Shutterstock, Coinmine.
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