A sleek new device that looks like an Xbox lets you mine crypto at home

Posted On: Nov 15, 2018   |   Posted By: Business Insider

A sleek new device that looks like an Xbox lets you mine crypto at home

Coinmine, a startup backed by Coinbase Ventures and other investors, rolled out a new crypto mining device that allows users to mint cryptocurrencies at home.
The device now allows users to mine Ethereum, Ethereum Classic, Monero, and Zcash, though not yet Bitcoin.
The launch comes at a time when mining cryptocurrencies at home is difficult to do at scale, in the wake of falling crypto prices and rising energy costs.
For $799, you can mine cryptocurrency at home.
Launched this week, a new gadget called Coinmine One gets rid of the traditionally cumbersome mining process.
Instead of manually assembling multiple computer graphic processors, downloading the software, and setting up a crypto wallet, all you need to do is power up the device, connect it to WIFI, and tap your phone to choose which coin you want to mine.
For the initial launch, Coinmine One allows users to mine Ethereum, Ethereum Classic, Monero, and Zcash - but not yet Bitcoin. With further updates, it will support Grin, Dfinity, Filecoin and...

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