Maxeler and Hub Culture Announce MaxMiner, A Programmable Bitcoin and Digital Asset Miner
30th Oct 2013
The MaxMiner signals a change in the way cryptocurrencies are mined on the Internet, offering a parallel processing core that can simultaneously mine Bitcoin and adjacent scrypts, for emerging currencies such as LiteCoin, Feathercoin and Namecoin. These emerging crypto-currencies are based on similar or derivative protocols to Bitcoin, but require different processing techniques. By simultaneously mining multiple digital assets, the MaxMiner offers a novel solution to the high and rising cost of mining for Bitcoin relative to the returns generated.
The MaxMiner also saves on energy, with over 90% greater efficiency than traditional GPU based mining activities. This efficiency greatly lowers running costs, and rebalances the global balance of power for digital asset mining by reducing the complicating impact of power consumption charges in diverse global energy markets.
Production is limited, and UK based hosting services are available for managed mining farms through Hub Culture and MaxMiner. Hosted returns can be linked to Hub Culture's Bitcoin and Ripple currency funds, which have enjoyed rapid uptake over the past year. At current mining hashrates for Bitcoin alone, the MaxMiner is expected to repay the cost of initial investment inside 10-14 weeks from initialization.
Maxeler is best known for its work on high frequency trading systems in the financial industry, where it produces some of the world's fastest and most efficient super computers and server systems, using custom data flow engines to allocate computing power toward desired tasks in real time. The result is a vastly enhanced computational system which consumes radically lower amounts of energy.