Bitcoin miners now have a tool to check the hashrate of their machines

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Think of it as the Carfax of bitcoin mining.

Announced Wednesday, Compass Mining and mining consultancy firm Navier are rolling out a new tool that allows buyers and sellers to verify the advertised hashrate of their specialized bitcoin mining machines.

Like most third-party reviewers, the tool, HashTest, strives to answer a common question for buyers and sellers: how does something actually perform compared to how it’s advertised?

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In the context of bitcoin mining, this is important because there are few ways to verify the actual performance of a machine when it is plugged in and running at a mining site. This data is generally kept private by mining companies.

“HashTest is a tool we created so that anyone can identify independent and unbiased information regarding an ASIC,” Compass Mining CTO Paul Gosker said in a statement, referring to specific IC machines. to the app that powers most bitcoin mining operations. “HashTest will allow sellers to demonstrate the performance of an ASIC to a buyer.”

Retail ASIC data is still quite fragmented in terms of transparency. For example, the Compass mining market allows crypto miners large and small to buy and deploy their platforms. A tool like HashTest would allow buyers of mining equipment to get better efficiency data from the machines they buy. The hashrate is a measure of the computing power used to add new blocks to the Bitcoin blockchain.

“HashTest is the world’s first independent hashrate testing service available,” Navier CEO Josh Metnick said in a statement. “We’re not a manufacturer, we’re not a mine, we’re not a pool, and we don’t make firmware. Our only goal is to provide the most accurate and unbiased hashrate measurement. We believe that these datasets will allow both small and large miners to make more informed decisions. “

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