Cryptocurrencies are already a sticky enough concept for most laymen and non-enthusiasts to get a grip of, and introducing yet another abstract term such as mining can cause even more confusion. Traditionally, mining has had a straightforward, unchanging definition—people working underground or in quarries to extract some kind of element. Crypto mining, on the other hand, is a completely digital process, and no hard hats are required.
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But not all digital mining facilities are the same. While many hobbyists and small-scale miners have modest operations set up in their homes or offices, industrial-level operations are less common. When these large-scale facilities are developed, they are a sight to see.
Beginning last week, HIVE Blockchain (TSX.V: HIVE) gave the world a glimpse inside of their latest Sweden-based mining farm, utilizing virtual reality technology to allow viewers to feel as if they had actually stepped inside the cavernous facility. Located in an undisclosed region of northern Sweden, the high-powered farm currently generates over 24.2 MW, with capacity funded to increase increase by another 20 MW in September.
By granting this virtual tour, the HIVE team hopes that the public will come to better understand what cryptocurrency mining is and what role a mining farm plays in the issuance of new coin. The establishment of new critical infrastructure along a blockchain is made possible through mining, and massive operations such as HIVE’s exponentially improve the power and security of a chain.
(Please note that the VR experience is not viewable from a mobile browser and must be viewed on either the YouTube app or from your desktop.)