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  • you can just buy the currency online.

  • But Bitcoin units are generated through a process called mining when computers solve complex math puzzle to create them.

  • Given their value and the increasing number of computers trying to solve those puzzles, this takes a tremendous amount of computing power and electricity in one place that just maybe perfect for a Bitcoin mining computer warehouse is an island nation between Norway and Greenland.

  • It's called the Land of Fire and Ice.

  • Ancient Iceland is now the home to an extremely modern endeavor, mining for Bitcoins At this Bitcoin farm near Reykjavik, noisy computers run 24 7, hoping to solve the mathematical puzzles that create the virtual money.

  • Those who succeed a rewarded with Bitcoins.

  • What is all of this?

  • So all of these are our mining rigs Way have a standard hardware but optimized in the design for Bitcoin mining.

  • It takes this number of computers to stand a realistic chance of mining Bitcoins on winning the Blockchain battle.

  • Since January, Bitcoin's value soared some 450%.

  • So with returns like these, you can put up with a bit of noise.

  • Why is it so noisy things Bands on the top.

  • Thes bands are strong fans.

  • They take out a lot of there.

  • There is one overriding reason why these Bitcoin minds are here in Iceland.

  • Plentiful, cheap electricity.

  • The country abounds with geothermal energy.

  • Whole set up in Iceland is perfect for cooling away these machines.

  • Ordinary air from outside is just drawn in, wafted through the computers on, then heated up on sucked back outside.

  • Some call Bitcoin the biggest financial bubble the world has ever seen.

  • Those who run this Bitcoin farm see ITM or a part of a thrilling future.

  • Is there several rival Cryptocurrencies coming up, which are competing for market share in the space on Many of them, offer similar features.

  • But I think Bitcoin has most of the benefits that all the Cryptocurrencies have, and it's going to be the largest player for a long time to come.

  • Iceland is a volatile, unforgiving landscape, perhaps perfect for bit coins.

you can just buy the currency online.

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