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IPFS News Link • Bitcoin

Auckland Man Sells House To Build Bitcoin Mining Rig

• http://www.zerohedge.com, by Tyler Durden

Readers who have been following our coverage of the New Zealand property market will understand the irony inherent in this exchange: Much like bitcoin, housing costs in New Zealand have been massively inflated thanks in part to an influx of foreign capital, with Chinese buyers representing one of the largest groups of investors, according to the New Zealand Herald.

A small room filled with incredibly powerful computer hardware that trawls through millions of transactions a second...

The man first became interested in bitcoin in 2013 when the price of a bitcoin was about $1. Earlier today, bitcoin was worth in excess of $18,000.

The 30-year-old IT professional, who didn't want to reveal his identity, has created a "virtual-currency mine" at a secret west Auckland location; a small room filled with incredibly powerful computer hardware that trawls through millions of transactions a second.


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