Yet despite the talk of a borderless currency, a handful of Chinese companies have effectively assumed majority control of the Bitcoin network. They have done so through canny investments and vast farms of computer servers dispersed around the country. The American delegation flew to Beijing because that was where much of the Bitcoin power was concentrated.
Source: How China Took Center Stage in Bitcoin’s Civil War – The New York Times
Mr. Ng, 36, said he had become an expert in finding cheap energy, often in places where a coal plant or hydroelectric dam was built to support some industrial project that never happened. The Bitcoin mining machines in his facilities use about 38 megawatts of electricity, he said, enough to power a small city.
Bitcoin mining equipment company KnC Miner has begun construction on its new facility in Boden, about 10 miles down the road from Facebook’s server farm in Lulea. The data center is being built in a facility previously used as a helicopter hangar for the Swedish armed forces. It will be retrofitted to house thousands of custom Bitcoin mining rigs built by KnC Miner, one of a host of new vendors that has emerged to serve the growing market for Bitcoin hardware.
KnC Miner is based in Stockholm, Sweden and has established a leadership position in Bitcoin mining rigs powered by ASICs (Application Specific Integrated Circuits) to crunch data for creating and tracking bitcoins. The company says it has sold $75 million in hardware since June, with customers in 120 countries.
via Bitcoin Miners Building 10 Megawatt Data Center in Sweden.
Litecoin confirms transactions faster (every 2.5 minutes, rather than every 10 minutes for Bitcoin) and it contains more coins — 84 million coins will be found in total under the LTC protocol, as opposed to 21 million for BTC. Bitcoin and Litecoin prices tend to move together; Bitcoins stratospheric leap over the past month (it’s down from a high of $1200 but trading at $873 as of this writing) has created an odd situation where it’s easier to mine Litecoin and then convert LTC to BTC then it is to just mine BTC to start with.
via Massive surge in Litecoin mining leads to graphics card shortage | ExtremeTech.