The Nvidia-backed business claims that after launching its second spacecraft later this year, it will start mining Bitcoin from space. Starcloud might be the first business to mine Bitcoin outside of Earth’s atmosphere if the concept is successful.
According to Philip Johnston, CEO of Starcloud, space-based computing may play a significant role in the future. He claims that one of the most intriguing applications of computers in space is Bitcoin mining.
Large amounts of electricity and processing power are needed for bitcoin mining. According to Johnston, specialised mining devices known as ASIC miners are far less expensive than conventional computer chips known as GPUs.
For example, a powerful GPU chip may cost around $30,000, while an ASIC miner with similar energy use may cost only about $1,000.
According to Starcloud, mining Bitcoin in space may someday be less expensive and more effective than mining on Earth. Approximately 20 gigawatts of electricity are currently used globally for Bitcoin mining, which is a substantial amount of power.
In order to meet the increasing demand for processing power from technologies like artificial intelligence, the firm was established in 2024 with the goal of constructing data centres in space.
For the first time, a powerful NVIDIA H100 processor was used in space when Starcloud launched a satellite carrying it in November of last year.
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