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The next bitcoin enterprise in Chicago: Mining the cryptocurrency

from Crain's Chicago Business

Chicago entrepreneur Jimmy Odom, who co-founded local-delivery startup WeDeliver in 2012, has announced his next startup: BitCap, short for Bit Capital Group, which aims to expand access to a cryptocurrency practice called mining. Former Chicago Bear Israel Idonije is a partner and investor. Cryptocurrency miners build powerful computers that verify the validity of transactions made in currencies such as bitcoin and ethereum. Because the process helps strengthen the currency platforms, every successful validation earns its miner a service fee paid in cryptocurrency. more

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