DigitalBTC Getting New Hardware from Spondoolies-Tech in Bid to Cut Costs

CoinDesk reports that DigitalBTC is procuring new mining hardware from Israel-based Spondoolies-Tech in a bid to cut costs.

The company’s stated business strategy envisions income from mining and trading activities. In addition, it is working on rolling out “retail consumer products including digital currency mobile applications.” It is reportedly working to accelerate development for the latter, which may offer more opportunity than its current operations that are heavily dependent on Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term’s price.

The slumping price of bitcoin, which has recovered somewhat in recent days, has increased the financial stress faced by mining income dependent businesses like DigitalBTC. Its publicly traded shares (ASX:DCC) on the Australian Securities Exchange (ASX) have recently fallen to their lowest levels since mid-2013 amid several consecutive quarters of negative earnings.

DigitalBTC said that it is investing $700,000 in the new equipment, which will increase its mining capacity by 40%. BitFury had reportedly been the company's supplier for its equipment until now.

Spondoolies-Tech CEO Guy Corem previously told DC Magnates that newer generations of its hardware can achieve power efficiencies below 0.5 J/GH.

DigitalBTC has also entered a new contract with Data Center Data Center A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more A data center is a building or network used to house computer systems and associated components, such as telecommunications and storage systems.This generally includes redundant or backup power supplies, redundant data communications connections, environmental controls, and various security devices. Large data centers are industrial scale operations using as much electricity as a small town.Over the past decade, data center space has been growing at an incredible rate. This has increased as more Read this Term provider Verne Global, which envisions a 20% reduction in costs across half its power commitment.

Two months ago, DigitalBTC CEO Zhenya Tsvetnenko reportedly put his prestigious Applecross home up for sale. Located in a premium neighborhood in suburban Perth, he had purchased it for $9.5 million in 2008. He is reportedly selling because his venture, along with his wife's fashion business Zhivago, have left them with little time to build their dream home. "It's just not the right time for us, so we are reshuffling our property portfolio and reinvesting the money," he said.