Most miners face one challenge – having enough power to do their work.
The amount of electricity and the costs of that electricity are significant. This can mitigate any want to get into the space, or put a big dent in any rewards that could be reaped.
Samsung has come up with an innovative solution that not only addresses the power needs of miners, but also addresses what to do with old smartphones.
Cryptocurrency mining rig
Samsung has created a cryptocurrency mining rig using old mobile phones. It literally strung together 40 Galaxy S5 mobile phones as part of building the rig.
Samsung used some other handy items in addition to the phones to build the rig. It repurposed an old Galaxy tablet into a specially-powered laptop, used a Galaxy S3 to monitor a fishtank, and programed an old phone with facial recognition software to guard the entrance of a house in the form of an owl, specifies Motherboard.
The result was enough generated power to mine bitcoins. In fact, the team assembling the mining rig found that:
“…using just eight old smartphones for the rig generated enough power so that they could “mine in a way that's more power-efficient than a desktop computer.” - Motherboard
Industry observers like Motherboard see Samsung’s bitcoin mining rig as consideration worthy. This is especially the case “for those who want to dip their toes into cryptocurrency mining.”
Considering Bitcoin continues to break new highs, many are clamoring to get into the space, including into mining. While the costs of electricity are expensive because so much power is needed, Samsung’s idea may be just the solution needed.
Key to this plan is being able to unlock the old phones. Motherboard says Samsung is planning to release the software it used to unlock the phones, as well as the various plans for the projects online for free. A Samsung spokesperson told Motherboard:
"This innovative platform provides an environmentally responsible way for old Galaxy mobile devices to breathe new life, providing new possibilities and potential extended value for devices that might otherwise be forgotten in desk drawers or discarded."