HashPower is back? This time it’s targeting the hot Zcash cloud computing market

The cloud computing power that was in full swing in 2014 gradually died down in the second half of 2015. Recently, the cloud computing service provider, Calculation Power Bar, returned to the public eye after its reorganization in November this year. This time, Calculation Power Bar hopes to seize the market with the help of the current hot Zcash.

Chengdu Bitquan Company acquires Hash Power Bar for RMB 5 million

The restructuring of Suanliba actually refers to the recent acquisition of Suanliba by Chengdu Bitquan Company for 5 million yuan. The core assets of this acquisition are the Suanliba platform and its entire team, as well as various fixed assets. The founder of the acquiring company Chengdu Bitquan Information Technology Co., Ltd. is Wang Ruixi, a well-known figure in the industry. According to the agreement, Bitquan Company will own 100% of Suanliba's equity after paying all the money.

Founded in 2014, Algorithm Bar is one of the few cloud computing platforms in China that owns its own mining farms and operates professionally. According to the statistics of the mining farms it is currently operating, Algorithm Bar actually has a total Bitcoin computing power of 30P. The first phase of Zcash computing power launched after the reorganization is 200KH, and it has more than 3,000 valid users worldwide.

Wang Ruixi has a long history with Suanliba, having met the Suanliba team as early as 2014. Talking about this acquisition, Wang Ruixi said,

“During the contact process, I learned that the Algorithm Bar team is reliable and has strong technology. Zcash is currently hot in the market and is a good entry point. This opportunity also confirmed the intention of acquisition and implemented it.”

Previously, Chengdu Bitquan Company already had two medium-sized mines in Sichuan and was preparing to build a large digital currency cloud computing center industrial park in Xinjiang. After the acquisition plan is completed, the company plans to expand its business scale and content on a large scale. Wang Ruixi revealed that the planned expansion of computing power scale and sales targets are 500P of Bitcoin computing power, 1000G of Litecoin computing power, and 1000KH of Zcash computing power, with an expected annual rate of return of 35%.

Physical mine photos

Targeting the star project Zcash, seizing the first opportunity in the cloud computing market

Zcash is a popular project in the digital currency industry, and its feature is "true anonymity". Before the creation of the Genesis Block, the price of its tokens on futures trading platforms was higher than that of Bitcoin, and the investment enthusiasm within the community was quite high.

Since Zcash uses the classic POW mechanism, miners have long been eager to get a piece of the first-hand benefits of Zcash mining.

Cloud mining came into being with the increase in mining participation and professional requirements. Since a large amount of noise pollution is generated in the process of personal home-based mining, and the individual mining operating costs are too high, cloud computing mining platforms with professional operating conditions have become an inevitable choice for some users.

In addition to HashPower, other known platforms that provide Zcash cloud computing services include Genesis Mining, Toomim Brothers, and Hashflare.

A new way to trade cloud computing power, creating the “Alibaba Cloud” of the cloud mining industry

In contrast, HashPower has a broader vision. In addition to launching Zcash cloud computing power, it will also provide computing power trading services, with the ultimate goal of building a professional cloud computing platform for the blockchain industry.

"The mining industry is becoming more and more standardized, but it is still far from enough. IDC standardization is very strong now, and the server hosting industry is also very standardized, the most obvious of which is Alibaba Cloud products. This has also prompted us to start the implementation of professional IDC computer rooms and platforms in the blockchain industry."

On November 1, the first batch of Zcash cloud computing power contract products Zcash1711 were launched on the hashrate bar. The contract period is 12 months, and the total computing power subscribed is: 200000H; November 1 to November 30 is the computing power subscription period, and users can enjoy the current mining profits after subscription. Computing power trading can be started after the computing power subscription is completed in any period before November 30. Zcash1711 electricity and maintenance fees are zero, and income is settled every hour.

For users, there are other reasons to subscribe to Zcash1711: two-way trading can make profits regardless of whether the computing power rises or falls; leveraged trading can double the income; the T+0 trading market has flexible capital operations; and income and expenditure are calculated based on theoretical output, which can eliminate uncertainty factors.

Talking about the new way of transferring computing power, Wang Ruixi introduced:

"It is equivalent to the 2.0 version of the mining pool, which can generate income and also trade. We hope to gradually transfer offline users to online. Miners can sell the computing power of the machine when they want to sell, and continue mining when they don't want to sell. If there is a problem, they can directly submit a work order on the computing power bar. The mine administrator will see the submitted work order and immediately deal with the machine problem."

With its vast domestic electricity resources, computing power resources and user base, and its new way of trading computing power, HashPower has gained a lot of advantages in the global Zcash cloud computing power field.

In the future, Hashbar will also face a broader global market: "We sell China's high-quality electricity resources to foreign users in the form of cloud computing power. The platform only earns a small profit in exchange for the trust of global miners, so that the entire market will grow bigger and bigger.