Startup Coinmine is bringing crypto-enthusiasts the first ever plug-and-play mining device for at-home use—The Coinmine One. The small rectangular box about the size of the average wireless router can help anyone earn cryptocurrency from virtually anywhere without any previous experience.
To use, simply plug the miner with its pre-installed operating system and open the corresponding mobile app and monitor your mining activity or manage earnings. Users can switch their preferred networks via the centralized dashboard and choose which networks they want to power depending on their preferences.
The Coinmine One is $799 and is currently available for pre-order. It can currently mine ether (ETH) at 29 Mh/sec, monero (XMR) at 900 h/sec, zcash (ZEC) at 320 h/sec and ether classic. The startup has plans for next year that will enable Coinmine One to run Bitcoin Lightning node, Dfinity or Filecoin. It uses as much power as an in-use gaming console and is relatively quiet compared with other mining machines. The user-friendly system can be managed from either Android or iOS apps.
This is an unprecedented product that has the potential to create a whole new demographic and layer of active miners. While the hash rate is much lower than more complex and larger devices, the price of maintaining those hash rates is more expensive.
Coinmine One eliminates the most difficult aspects and aesthetics issues with current mining systems. Coinmine One’s design seems to anticipate the constant changes the crypto community is notorious for though it will still be an uphill battle to keep the same model relevant for long. More miners can help to increase the overall value of networks. Bringing mining to the average person breaks down barriers to adoption and every day crypto use.