New Coinmine One Miner: How Does It Work?

Coinmine One is a $ 799 cryptocurrency mining device that was released by a startup Coinmine. Farb Nivi, one of the founders and CEO of Futurism, said the following about it: “Coinmine One is for everyone”. According to him, users do not need to be experts in cryptography or in the field of hardware and software in order to understand how it works.

Moreover, even Coinbase investors and other famous cryptocurrency fans supported this venture. In a press release, Coinmine One was called the first plug-in device, mobile application and operating system. It is possible to install cryptocurrency on it and store mining on its servers.

The device is specifically designed for home use. The miner heats up less and works quieter than most ASIC miners. It is also suitable for beginners in the field of digital asset mining due to its ease of maintenance.

How is coinmine one works

Processor: Intel Celeron Processor J Series, Dual-Core, 14 nanometers.

Video card: AMD Radeon RX570 4 GB.

Cooling system: WINDFORCE 2X.

RAM: 8 GB DDR4.

Power: 120 watts.

The device offers a few options for mining: Zcash with a calculation speed of 320 H / s, Monero with 900 H / s, Ethereum and Ethereum Classic with 29 MH / s. To manage mining and control over income does not require any special skills so that the user can do this through an application for Android or iOS.

Also externally, Coinmine One is similar to the Xbox game console. The device consumes 120 watts, and a low noise level – 40 dB – allows you to install it in a living room or office.

Coinmine One consumes even less power than the PlayStation 4, and for mining on the GPU, you will need an AMD Radeon RX570 graphics card.

Is coinmine one worth it?

According to CryptoCompare, a miner will need more than 45 years of Ethereum mining to pay $ 799 for a mining device, but this is without paying taxes and other influencing factors.

According to Nivi, since they themselves created the operating system, they will be able to update users when new networks are launched. Thanks to this, they will give their device owners the opportunity to be one of the first to launch new cryptography and earn money on them.

To date, the system only supports Ethereum, Ethereum Classic, Monero, Zcash and some other crypto that will appear in the near future. But even if a new coin appears on the market and miners spin up their engines, people who bought Coinmine One will have to wait until it starts supporting it.

Review results 

An ordinary crypto miner always looks at the profitability, payback and technical characteristics of equipment such as CPU, FPGA, ASIC and GPU and takes into account other factors.

On the other hand, there seem to be a few unconventional miners who are more interested in stylish-looking and easy-to-use mining equipment, which may not be too profitable. For such people, mining equipment from Coinmine can be an ideal solution.