Gaining access to the mining process is quickly becoming easier, through even livestreaming platforms such as Hello Pal International Inc., or dedicated miners such as Riot Blockchain, or HIVE Blockchain Technologies.
VANCOUVER, B.C., May 12, 2021 /AlexaBlockchain/ – Demand for cryptocurrency is on the rise, and now efforts both good and bad are being made for people to get their hands on digital money for their own. A new collaborative effort recently formed between Microsoft Corporation (NASDAQ: MSFT) and Intel Corporation (NASDAQ: INTC) is being rolled out to detect cryptocurrency mining malware on the equipment of those who aren’t aware. But for those who are aware, and want to get their own cryptocurrency assets, gaining access to the mining process is quickly becoming easier, through even livestreaming platforms such as Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF), or dedicated miners such as Riot Blockchain (NASDAQ: RIOT) or HIVE Blockchain Technologies (OTCQX: HVBTF) (TSXV: HIVE).
It’s no wonder that interest in digital coins is high. “Demand on the crypto side has been multiple-fold to what we initially expected. There’s a lot of excitement,” said PayPal president and CEO Dan Schulman in an interview with Time magazine.
While Bitcoin (BTC) still leads the way as the biggest player in the game, the market has also seen a steep rise in interest for Dogecoin (DOGE), which surprised many by breaking out from being simply a “meme currency” and surging 400% to a combined value worth $40 billion.
The timing for the rise of DOGE interest couldn’t have been better for social media streaming platform Hello Pal International Inc. (CSE: HP) (OTC: HLLPF). Thanks to a newly signed agreement to access 12,500 mining rigs dedicated to mining both DOGE and Litecoin (LTC), users of the popular platform can now take on a significant part of the DOGE/LTC mining action. These Mining Assets deliver a combined hash rate of 6.25 TH/s—amounting to 2.1% of the entire current LTC network hash rate.
It was a recent as February 2021 that a new chip was developed and announced to be capable of mining both Litecoin and Dogecoin simultaneously.
“We are excited to expand our crypto strategy to also include Dogecoin and Litecoin, which we believe will play an increasingly important role in the cryptocurrency world going forward,” said Hello Pal’s Founder and Chairman, KL Wong. “The Hello Pal community, especially what we envision for it to become, is a natural fit with the Dogecoin/Litecoin community, and this deal allows us to become a key player in it.”
The public reaction Hello Pal’s involvement in the Dogecoin movement, resulted in an unprecedented surge in traffic of over 1000% to the official company website causing a website server overload and a temporary outage.
“The sharp increase in activity on our website and the Hello Pal app validates the clear position we have taken on Dogecoin as well as on cryptocurrency in general,” added Wong. “We’re ecstatic that our choice of cryptocurrencies to mine seems to have been validated especially by the recent incredible surge in market interest and activity of Dogecoin. As far as we are aware, upon completion of this transaction, we shall be the only publicly listed company with primary exposure to Dogecoin.”
According to their website, Hello Pal is giving its users a chance to own or part-own cryptocurrency mining rigs, and enjoy the experience and rewards of mining Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE) and Litecoin (LTC), all without the hassle of finding/acquiring a suitable miner, complicated hardware/software setup, expensive electricity bills and/or endless maintenance.
Now between Hello Pal and its strategic partners, the company has over 40,000 miners available to its users allowing them to own their own miner and start mining BTC, ETH, DOGE and LTC.
By having dedicated miners for this activity, Hello Pal can keep its users on the straight and narrow path towards legal acquisition of cryptocurrencies—unlike the criminal activity that Microsoft Corporation (NASDAQ: MSFT) and Intel Corporation (NASDAQ: INTC) are currently tackling.
Microsoft recently announced its plans to integrate Intel Threat Detection Technology (TDT) into its Microsoft Defender for Endpoint. The company says this will enhance its detection capabilities and prevent cryptocurrency mining malware.
Since Q4 2020, there has been a significant increase in malicious attacks on cryptocurrency mining. According to a recent report, there was a 53% increase quarter-over-quarter in these malicious attacks.
Intel assured that its threat detection doesn’t create a performance hit. TDT can offload performance-intensive workloads to the integrated graphics controller, alleviating the CPU to perform other tasks.
It appears that Riot Blockchain (NASDAQ: RIOT) hasn’t slowed any in its mining of BTC. The company had a hot March 2021, producing 187 BTC (roughly US$10.3 million as of April 27, 2021) for an increase of 80% over the previous March. Riot also produced 491 BTC (~US$27 million as of April 27, 2021) in Q1 2021, up 75% over Q1 2020 production.
In early April, Riot announced a large-scale contract for the purchase of 42,000 S19j Antminers for $138.5 million. The purchase significantly increased Riot’s overall potential Bitcoin mining hash rate, which is now estimated to reach approximately 5 exahash per second (EH/s) by the end of 2021, and 7.7 EH/s once fully deployed by the end of 2022. This level of growth represents a 93% increase over Riot’s previously estimated committed hash rate capacity of 4.0 EH/s by October 2021.
Also expanding its operations has been HIVE Blockchain Technologies (OTC: HVBTF) (TSXV: HIVE). The Canadian-based miner recently completed its latest acquisition of a Green Energy 50 MW Data Centre in New Brunswick, with potential to further grow to 80 MW.
Through the acquisition HIVE more than doubled its total available power capacity globally again to approximately 100 MW. At that rate, HIVE is among the largest of any publicly-listed cryptocurrency miners, especially when it comes to mining Ethereum (ETH).
By adding this new Bitcoin mining facility in New Brunswick, HIVE further diversified its existing portfolio, which now includes a facility in Quebec, and Ethereum-focused GPU mining operations in Sweden and Iceland.
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