Cryptocurrencies have gained traction in the past half-decade for a variety of reasons. Bitcoin has become the most popular cryptocurrency in the world due to its sudden rise in value and acceptance within the international marketplace. You might be wondering: What does cloud computing have to do with cryptocurrencies?
Cloud computing is beginning to revolutionize the cryptocurrency industry. When cryptocurrencies first began gaining popularity, amateur miners would create rigs in their basements, garages and bedrooms that consisted of computing gear that sometimes housed dozens of video cards with high performance GPU chips. These cryptocurrency mining rigs generated enormous electric bills for consumers with power companies sometimes mistaking the sudden spike in power use as a drug operation. These sets of circumstances along with other economic factors have caused bitcoin miners to rethink the way that they handle their hash workload.
Enter cloud computing