Bitcoin News

A post on Bitcoin Miner blog (@BitcoinMiner) describes how landlords are unwittingly becoming an integral part of a mining operation. Excerpts:

“Never before has there been a cottage industry that simply monetizes electricity. Mining consumes power in a manner in which it can nearly directly be converted to cash.”
“There is still a healthy market for this used GPU hardware from those operators whose electric costs are much lower and from those whose power consumption is included in their residential or commercial lease.”
“This in effect transfers much of the cost of mining to the landlords who receive none of the benefit except, perhaps, in the greater likelihood that the mining operator pays the rent on time.”
“While smart meters provide landlords with the technical ability to do utility submetering, rent controls and housing regulations often prohibit the use of submetering.”
“Because Bitcoin mining is a 24/7 operation, it can easily represent half or more of a residence’s power consumption.”

- http://www.bitcoinminer.com/post/25945886269

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