Mining cryptocurrencies can be very expensive. Even low quality crypto mining devices can cost hundreds
of thousands of dollars, and maintaining such devices requires a full staff of technicians.
If you want to become a crypto miner, but lack the resources to do so, then Coinmine may be able to help
you, thanks to their new product, Coinmine One.
Coinmine was founded by Farb Nivi and his partner in Los Angeles. Their objective was to make coin
mining easier and more accessible to people who have limited knowledge (and resources) about
According to Nivi, Coinmine began when his partner suggested that,
“We make a Crypto-Miner easy enough
for anybody to use.”
Now, Coinmine has released its first crypto mining device, the Coinmine One, which is designed to help
users mine popular cryptocurrencies. This device may look like a gaming console, but it was designed to
make crypto mining easier and more affordable.
According to Nivi, all a user needs to do to use Coinmine is to plug it in, connect it to a wifi, open the
Coinmine app and then tap into a crypto network. Once active, Coinmine One will start working on the
So can you use Coinmine One to mine Bitcoin? Unfortunately, no. Nivi explained that although Coinmine
was designed for newer and smaller cryptos, but adds that future versions of Coinmine may be used to mine
larger and more popular cryptos, including Bitcoin Nodes.
Additionally, Coinmine gets a 5% cut on all the mined cryptos, most of which are used to fund research into
new technology, and to develop new coin mining apps.
Nivi promises more powerful and more energy efficient devices in the future, but for now, he and his partner
are focusing on Coinmine’s features and usability. They hope to make crypto-mining easier and more
affordable for everyone.
4 Minute Crypto & Bitcoin Show. (2018, November 22). Coinmine Launches A $799 Crypto
Miner [Video file]. Retrieved from https://www.youtube.com/watch?v=TXDhSN7IuZg