In a bunker in Iceland, powerful computers are whirring 24 hours a day — and extracting an invisible currency. The company behind the operation relies reykjanesbaer bitcoin wiki cheap energy reykjanesbaer icelandic bitcoin turn processing power into cash. On the flat lava plain of Reykjanesbaer, Iceland, near the Arctic Circle, you can find the mines of Bitcoin. To get there, you pass through a fortified gate and enter a featureless yellow building.

After checking in with a guard behind bulletproof glass, you face four more security checkpoints, including a so-called man trap that allows passage only after the door behind you has shut. These computers are the laborers of the virtual mines where Bitcoins are unearthed. If they come up with the right answers before competitors around the world do, they win a block of 25 new Bitcoins from the virtual currency’s decentralized network. The network is programmed to release 21 million coins eventually. A little more than half are already out in the world, but because the system will release Bitcoins at a progressively slower rate, the work of mining could take more than 100 years. 7 min read Bitcoin is a hard-core nerd thing.

It was built by nerds, and was used by nerds—until recently. And now a café a few blocks from my home accepts bitcoins. The giant stack of transactions is broken up into a large number of sections called blocks that are chained together. Further reading I hope I got you excited about Bitcoin.

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