Starcloud, an orbital data center startup, plans to begin Bitcoin mining in space later this year, leveraging the cost advantages of ASICs over GPUs. The company aims to become the first to mine Bitcoin off Earth, citing that ASIC miners are significantly cheaper than GPUs, potentially revolutionizing the industry and leading the transition of Bitcoin mining from Earth to space.
Starcloud CEO Philip Johnston noted that it is 30 times cheaper to mine Bitcoin on ASICs than on GPUs in space on a kilowatt-hour basis. Starcloud , an Nvidia-backed orbital data center startup, said it will start mining Bitcoin from space later this year when its second spacecraft is launched, positioning it to become the first company to mine Bitcoin off Earth.
In the interview, Johnston said running Bitcoin application-specific integrated circuit miners would be “one of the most compelling use cases” of space compute due to it being significantly cheaper than GPUs. “GPUs are about 30 times more expensive per kilowatt or per watt than ASICs,” Johnston said. “A 1-kilowatt B200 chip, it might cost $30,000. A 1-kilowatt ASIC is like $1,000.”in space will become a “massive industry” due to how much more economical it is than mining the cryptocurrency on Earth. “Bitcoin mining consumes about 20 GW of power continuously. It makes no sense to do this on Earth, and in the end state, all of this will be done in space.” Starcloud was founded in early 2024 to build data centers in space as a solution to address rising energy needs for AI. In November, it launched a satellite with anWhile Johnston’s Starcloud envisions mining Bitcoin in space, tech entrepreneurs Jose E. Puente and Carlos Puente last year came up with a solution to send it across planets.in as fast as three minutes by leveraging an optical link from NASA or Starlink and a new interplanetary timestamping system.would move through space stations — such as antennas and satellites — or even a relay around the Moon before reaching Mars. They, however, said that mining Bitcoin on Mars would not be feasible due to the latency between the two planets.7% from a record 155.9 trillion units in November to 145 trillion, giving miners some much-needed breathing room for now.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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