Cryptomining growth has always been hindered by the excessive hardware and power requirements it holds. And more recently, a discouraging crypto crash has left many questioning the future of cryptocurrency’s value. But Coinmine is seeking to bring back the cryptocurrency craze. It’s a plug-and-mining device paired with its own operating system and mobile app that are said to offer everything needed to mine Ethereum, Ethereum Classic, Monero, Ravencoin and Zcash at home.
Coinmine is available today on its website for $799 (US only, it's not shipping to the UK). It includes the MineOS and Arch Linux, as well as an Android and iOS app, plus the hardware, Coinmine One, which is essentially a slim PC.
Coinmine One Specs
|CPU||Intel Celeron G3930 (2.4GHz)|
|GPU||AMD RX 570 (4GB)|
|Hard Drive||1TB SSD|
Through the Coinmine mobile app, miners can count their cryptocurrency, switch to a new type of cryptocurrency or add additional Coinmine One devices.
Coinmine is fighting against cryptomining’s barriers to entry, including the complexities, time and costs associated with getting started and staying up-to-date on the latest crypto networks and security patches. Plus, cryptomining systems tend to be bulky and gobble up a lot energy—some can consume more megajoules than mining copper, gold, platinum or rare earth oxides does—producing a lot of heat and noise.
But with Coinmine, miners won’t need to build their own mining system and can run different types of crypto networks on the same hardware. Additionally, there’s no need to manually update to the latest crypto currencies, since MineOS updates automatically.
“Just like mining Bitcoin or Ethereum in the early days, you earn the most crypto when the networks are new. If crypto prices return to or surpass their previous highs, you’ll be in a great position,” Farbood Nivi, co-founder and CEO of Coinmine, told Tom’s Hardware. “For existing crypto networks, it’s actually better to mine when prices aren’t so high because the mining difficulty probably won’t be rising, which in turn will earn you more crypto.”
With the current and future value of cryptocurrencies in question, Nivi believes that “crypto is just getting started,” so the earlier consumers can get in, the better.
“At Coinmine, we’re focused on the wider benefits of cryptocurrency and the blockchain—to decentralize information and money. I believe that millions of consumers still want to become involved in the crypto revolution, they just don’t know where to start,” Nivi said.
Coinmine plans to eventually add new protocols and currencies, including Lightning Bitcoin Lightning, DFINITY, Filecoin and Grin.