Google Cloud Partners with El Salvador: Cloud Bitcoin Mining?

Google Cloud has announced that it has signed a multi-year, seven-year agreement with the government of El Salvador. It is well known that the Latin American country is very friendly to Bitcoin and even has the cryptocurrency as legal tender, and invests in mining activities.
"Google Cloud plans to establish a legal entity and a Google Cloud office in the Republic of El Salvador. Thus, it will launch an instance of Google Distributed Cloud (GDC) for the country. This will bring the infrastructure closer to where El Salvador's data is generated, and we will create a Cloud Center of Excellence to provide technical guidance to companies and organizations on how to achieve the greatest benefits from cloud technology and innovations," the company announced.
During this strategic 7-year partnership, while awaiting legislative approval, Google Cloud and the government of El Salvador say they will work together. The goal is to put cloud technologies at the center of the country's modernization efforts in three distinct areas: Digital Government, Health, and Education.
"El Salvador is moving forward. We believe that technology and foreign investment are key to development. We are rapidly becoming a center of innovation. This innovative alliance with Google Cloud opens unprecedented paths for innovation, economic growth, and improved public services. Google's global experience combined with El Salvador's audacity will redefine the technological landscape," said Nayib Bukele, President of the Republic of El Salvador.
"We look forward to working side by side with El Salvador to promote technological development in Central America," said Google Cloud CEO Thomas Kurian. "Access to cloud computing has expanded dramatically in sectors and regions around the world, enabling both small businesses and the public sector to use the same applications and services as more mature markets. Cloud computing can truly transform Latin America, and we are excited to explore the full potential of these possibilities in El Salvador, benefiting its citizens and driving economic development."
Cloud Bitcoin Mining?
Nothing has been announced regarding Bitcoin mining. However, there is technological and even legal possibility for it. It is worth noting that there is a cost to cloud mining 100%. Bitcoin mining requires a significant amount of computational power. However, using Google Cloud to manage and optimize existing mining operations may be more cost-effective.
Google Distributed Cloud (GDC): GDC can be beneficial for distributing and managing mining operations in different locations, especially if El Salvador plans to expand its mining operations to multiple sites. However, renting this capacity from cloud computing providers can be expensive and may not be profitable, especially when Bitcoin prices are low.
The Google Cloud Terms of Service do not explicitly mention a ban on Bitcoin mining. Some cloud computing providers prohibit cryptocurrency mining in their terms of service due to resource-intensive usage and the potential for abuse.
Additionally, miners who opt for cloud mining face additional security risks as hackers can infiltrate the provider and cause losses. However, by combining cloud computing with ASIC machines, which are specific machines for Bitcoin mining, it would be possible to achieve efficient results. In this sense, instead of setting up and physically maintaining ASIC machines at their location, they could be hosted in a specialized data center.
These data centers can offer better cooling conditions, security, and often cheaper electricity. In this sense, access to and management of ASICs is remote, in the cloud, although the hardware is still dedicated and physical.
Data Collection and Management
Furthermore, using cloud computing solutions, you can create centralized management systems to monitor and control ASICs. This can include performance monitoring, alerts, firmware updates, and other administrative tasks.
Moreover, cloud computing can be used to analyze mining data. For example, collecting data on the efficiency of your machines, the current price of Bitcoin, and electricity costs. Using this information to optimize your mining operation.
Another benefit could be scalability. When deciding to expand the mining operation, cloud computing can facilitate the addition of more ASICs to the set. Thus, using cloud solutions to deploy configurations and updates to multiple machines simultaneously.
Finally, integration with mining pools could be another advantage. Cloud computing can facilitate the integration and management of connections with different pools.
Seems way too iffy for my liking as well
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I wonder what's the real catch. This is Google we are talking about.
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