Forget about home mining, as space mining is on its way. A week ago, a company made history by launching a Bitcoin mining rig called Space Miner One into the stratosphere. There it confirms transactions and mined Bitcoin over 100,000 feet from the earth’s surface.
The Space Miner One was attached to a weather balloon and it drifted through the lower atmosphere before returning to Earth on a parachute where it was recovered from a field from Lithuania.
The rig was connected to the Internet via satellite phone and it was also fitted with an ASIC mining chip, a Raspberry Pi 3, battery, GoPro Hero 5, and a metal souvenir coin for a competition winner.
CCN spoke to Miner One CEO Pranas Slušnys about what this launch really means and what his plans are for the future.
Space Miner One’s goal is to support blockchain technology
“The goal of Space Miner One is to symbolically express our belief that bitcoin and cryptocurrency, in general, is about the future and the revolutionary technology at its heart: so-called blockchain technology. And with this new technology, the sky’s the limit.”
The Miner One Project is currently raising funds in order to build a mining farm in northern Sweden where the low temperature and energy costs will help the project crypto-mining operation succeed.
The project aims to grant investors enhanced returns compared to mining at home.
The next step is to build a mining facility
The company is eager to start mining and the project has committed to begin payouts to investors by the end of this summer.
“We think mining and the technology it is based on will, of course, eventually reach outer space. In a sense, it already has to the extent that communications channels carrying information around the bitcoin network use satellites. We even hear word that NASA is researching the possibility of using blockchain technology for communication and navigation in space,” Miner One CEO told CCN.
NASA has already begun blockchain research for deep space navigation. In the future, it’s possible that satellites with mining nodes and solar panels could operate crypto networks and generate returns from outer space.