NEW!Incredible offer for our exclusive subscribers! Read More
Mining

Amazon rolls out Chia crypto mining solution on AWS

1 Mins read

Technology giant Amazon has rolled out a solution dedicated to Chia crypto mining on its AWS cloud computing platform.

cryptonews.net

According to a campaign page on the Amazon AWS Chinese site, the platform touts that users can deploy a cloud-based storage system in as quickly as five minutes in order to mine XCH, the native cryptocurrency on the Chia network.

The campaign page also provides a quick tutorial on how to use its cloud services to generate Chia wallet addresses, create a plot and then start farming. It appears the service is specifically targeting at Chinese users as the campaign page is in simplified Chinese only.

It’s unclear when exactly Amazon AWS started advertising the solution but it is yet another sign of an increasing level of attention and interest that Chia mining has received from Chinese investors.

The Block reported last month that as Chinese retail investors flock into Chia mining, the prices of various hard drive models have been surging with some by as much as a 100% premium in China.

Although the market has plenty of hard drive supplies, some dealers and wholesalers appeared to have been hoarding stocks in order to flip on the prices.

Founded in 2017, Chia is a decentralized storage network that aims to use hard drives as computing power to replace bitcoin’s energy-intensive proof-of-work mechanism.

The mainnet for mining launched on March 19 and within the last two months, the storage power that is mining on the network has surged to more than one exabytes, which equals to the storage volume of more than 1 million units of 1 TB hard drives.

Related posts
AltcoinsBTCCryptoETHMiningOtherStock

Bitcentr launched the largest aid campaign!

1 Mins read
Ukraine is at war, war for our freedom but also for European freedom and democracy. People of Ukraine are in a big…
AltcoinsBTCCryptoETHMiningStock

Binance Will Sponsor The Weeknd’s Upcoming Tour

2 Mins read
The world’s largest cryptocurrency exchange – Binance – joined forces with the popular Canadian singer Abel Makkonen Tesfaye (better known as The Weeknd). The platform will be the official sponsor of the artist’s upcoming tour in July. The Details Behind the Deal In a recent statement, the exchange said it is “excited” to become the…
AltcoinsBTCCryptoETHMiningStock

Spanish Airline Giant Vueling Embraces Crypto as a Payment Method

2 Mins read
One of the largest airline companies in Spain – Vueling – will join forces with BitPay to enable clients to pay for tickets in several cryptocurrencies starting from 2023. Crypto Takes off With Vueling According to a recent press release, the Barcelona-based airline will use Universal Air Travel Plan (UATP) technology (a global settlement network…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *