The first Bitcoin mining software to be sold on the market, the Coinjar, has seen a surge in interest after being listed on Amazon for just £4.99 ($7.45) on Wednesday.
Bitcoin miner Bitcoin Miner.
Image credit: CoinJar website.
The CoinJar was listed by CoinJar, a company that specializes in the Bitcoin mining equipment, as a tool to “make it easy to mine bitcoin for the masses” by providing “fast, reliable and low-cost hardware”.
The software is developed by BitMEX and was released in 2015.
While many Bitcoin miners use GPUs, CoinJar claims its software is based on a CPU-based solution, meaning it can mine for Bitcoins much faster than ASICs.
This means miners can use the software to mine for more coins at a time, while still being able to mine the currency for a fraction of the cost of ASICs, as they will need more power and processing power to do so.
Users can also choose from a range of mining options, including a 1-minute clock, a 5-minute timer and a 5.5-minute battery life.
This is a great opportunity for Bitcoin miners to get their hands on the new software and get some extra money, said Adam Jorgensen, a founder of CoinJar.
“We can’t wait to show it to the masses,” he said.
CoinJar has attracted a large community of Bitcoin users who are eager to see how well the software works and if the price is right.
Jorgensen said he believes the software is very good and the price will likely go up as the software matures.
However, the software can be difficult to use, he added, and users may not be able to access the full power and speed of the hardware.
The company will sell the software for £4,499 ($8,980) and the hardware will go for £5,499.
CoinJar plans to sell its own Bitcoin mining hardware, which is sold at a premium.
The platform was designed to help Bitcoin miners compete with ASICs in the cryptocurrency market.