LOGICABIT offers to their customers the ability to mine crypto-currencies without the need to have specific hardware, and all the responsibilities and risks of maintaining such hardware. Their trading platform allows you to buy and sell commodities without the need for intermediate or long mining contracts. It also offers the possibility to exchange between all coins mined.
They value the transparency in the way in which fees are charged and also as for the excellence in their support, currently available in English only. LogicaBIT emerged as a team of consultants in software development, focused in software development for big banks and brokerage houses. they started mining Bitcoins in early 2010, using our their hardware and, from that moment on, they are always trying to increase their mining power.
In 2011, with increasing difficulty of mining, they had the idea to create this pool, using the Opens Source Software MPOS(stands for Mining Portal Open Source), where their members and theirs friends could connect theirs own hardware to mine Bitcoins (and Altcoins later) all together.
Not long after, in 2013, the ASIC (Application Specific Integrated Circuit) hardware emerged. They then decided to temporarily close the pool for the public and investing in their own hardware again, but this time they did not have the Quad-Cores computers, but powerful ASIC equipment, designed specifically for mining. As their hardware grew, they decided to share it with the public again, following the model of cloud mining.
As the most part of their team is located in South America*, and taxes for importation of equipment passes the 60%, they decided to keep two of their staff members in different parts of the world, where they can acquire hardware at a truly advantageous price and can take advantage on low electricity costs, taxes and even weather to get the best profit.
LogicaBit 20-22 Wenlock Road N1 7GU London
LOGICABIT was last modified: February 3rd, 2016 by Bitcoin Cloud Mining