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The Bitcoin Mining Arms Race

Bitcoin Mining Chips Gear Computing Groups Competition Heats Up Businessweek


Joel Flickinger’s two-bedroom home in the hills above Oakland, Calif., hums with custom-built computing gear. Just inside the front door, in a room anyone else might use as a den, he’s placed a desk next to a fireplace that supports a massive monitor, with cables snaking right and left toward two computers, each about the size of a case of beer. Flickinger has spent more than $20,000 on these rigs and on a slower model that runs from the basement. They operate continuously, cranking out enough heat to warm the house and racking up $400 a month in electric bills. There isn’t much by way of décor, other than handwritten inspirational Post-it notes:  “I make money easily,” one reads.  “Money flows to me.” “I am a money magnet.”  Flickinger, 37, a software engineer and IT consultant by trade, doesn’t leave the house much these days. He’s a full-time Bitcoin miner.

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He's a good guy. He used to work with me and Joyce at Renkoo.

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