A first-of-its kind service wants to play matchmaker between big-scale mining facilities and individual miners looking for a hosting setup.
Bitcoin mining company HASHR8 just launched its Compass platform, a search engine of sorts for individual miners to shop for a hosting facility to operate their mining hardware for them. While mining farms hosting solo miners’ machines is nothing new, Compass is the first service to create a product to sync miners with hosting providers.
The initiative was born from a drive to keep Bitcoin’s hashrate distributed, and that starts with making sure the smaller-time miners can stay competitive.
“We believe that everyone should have the ability to mine bitcoin. Nowadays the narrative is always that ‘bitcoin mining is only profitable for larger miners,’ which holds true because smaller miners cannot benefit from the same economies of scale. HASHR8 built Compass to kill that narrative,” HASHR8 COO Thomas Heller told CoinDesk.
Compass curates a