Online Backup Service Unsuccessfully Tries Mining Bitcoin With 600 Servers
When online backup provider IDrive tried their hand at mining bitcoin with a slew of servers at their disposal, they thought it might serve to be an additional way to bring in revenue. How wrong they were. The company says they own 3,000 servers, but for the bitcoin mining experiment, 600 were used (each with a quad-core processor clocked at 2.8GHz). The idea was to get the servers to mine the digital currency during the off-peak hours of 3AM-4PM (as most people tend to back up their systems during the night). Using the assumption that the servers would run at 100 percent processing power....
Related News
The All-In-One Storage Solution Recently Attempted to Mine Bitcoin. If you had a business with 3,000 servers, you might try and do the same thing that iDrive recently tried. The one stop solution to all your backup needs decided to take a detour from what they do best to look into the idea of mining Bitcoin. They were curious to see if they were missing out on an untapped revenue stream. They learned some valuable bits of information when they went on their detour and spoke to CCN about what they discovered on their journey. iDrive decided to give Bitcoin mining a test run. They knew they....
Fed up with waiting for ASIC mining rigs from suppliers who can't deliver? Don't want to spend money on a box that you have to power and maintain yourself? Welcome to the world of Mining as a Service (Maas). UK firm CloudHashing is offering users the chance to mine for bitcoins without buying any equipment. Just as companies in the software world began offering online Software as a Service (SaaS) contracts to customers who didn't want to invest in their own expensive servers, CloudHashing is trying to offer online mining services using ASIC equipment that it buys en masse. The firm will....
The collapse of bitcoin mining service Cloudminr.io resulted not just in the loss of bitcoins but also in the exposure of customer data. According to its owners, the website was previously hosted in Norway then later on drew accusations for starting a mining-related Ponzi scheme. Over the weekend, the bitcoin mining service's main page was altered to show an offer selling a list of passwords and other account information. A thousand entries out of the 79,267 claimed to be included in that list were published online before the site was eventually taken down. Bitcoin Mining Service Hack?....
Bitfloor, the fourth largest exchange dealing in US dollars, has just announced[1]that it has been hacked, and the service has taken a loss of 24,000 BTC, worth about $250,000 at the time of the theft. As Roman Shtylman, the founder of Bitfloor, describes it, "last night, a few of our servers were compromised. As a result, the attacker gained accesses to an unencrypted backup of the wallet keys (the actual keys live in an encrypted area). Using these keys they were able to transfer the coins. This attack took the vast majority of the coins BitFloor was holding on hand." As a result,....
A malware called Linux.Lady targets Redis servers that have been placed online without passwords and launches a cryptocurrency mining software, according to hackread.com. According to Dr. Web, a Russian software retailer, Linux.Lady uses Google’s Go programming language and targets Redis servers that lack passwords from systems administrators. Dr. Web claims the malware can collect information about an infected computer and send it to the C&C server, download it and launch a cryptocurrency mining utility, then attack more computers on the network. Turning Linux into Crypto Miners. The....