Amazon offers cryptocurrency mining in the cloud

Using this algorithm, Chia mining does not consume too much power because only the hard drive is free. Chia's network has now mobilized more than 2,700 PiB (1 PiB = 1125.9 TB) of available hard drive space.

Very quickly, Chia caught the attention of Amazon and launched a virtual money mining service in the cloud exclusively for the China region. The Amazon website also shows how to set up a cloud service to create a Split wallet, create a space, and how to mine in just 5 minutes.

Amazon offers cryptocurrency mining in the cloud Picture 1

Dong Chia started the validation process and allowed mining on March 19, a process known as the mainnet. At that time, Chinese miners flocked to e-commerce sites to buy hard drives and sold these items out of stock, mainly in the super-hard drive segment of 10 TB or more.

And after about two months, Chia was officially listed on May 4 last with the virtual currency code XCH, starting price 1,700 USD. But immediately this currency must witness selling momentum causing it to drop in value to only $ 700 before recovering around $ 900 mark.

Over time, with the Bitcoin fever, new virtual currencies are constantly appearing and being pumped, making it worth fluctuating up and down. The volatility of the virtual currency market is part of the reason that many countries are afraid of Bitcoin in general and virtual currencies in particular.

David Pac

Update 09 May 2021