Stan Higgins | Published on September 2, 2014 at 19:15 BST
KnCMiner has unveiled a new cloud-mining service, offering six-month contracts out of its Arctic bitcoin mine.
KnC Cloud, launched on 2nd September, leverages the company’s existing data center space in northern Sweden. The so-called Clear Sky mine boasts more than 7 petahashes per second in estimated mining power.
KnCMiner said the program will benefit from the cheap cooling and local renewable energy sources afforded by the Arctic Circle. These geographical advantages have led many companies in the bitcoin mining space to look to the Arctic, potentially establishing the region as a key battleground in the race to generate bitcoins.
KnCMiner director of marketing and public relations Nanok Bie told CoinDesk that the launch reflects a demographic shift taking place among the bitcoin community, with more miners opting to outsource their hashing power rather than operate home mining rigs.