Meet NiceHash
NiceHash operates as a global hash power marketplace where buyers and sellers of computing power connect to mine cryptocurrencies. The company deals with highly volatile levels of demand in the fast-moving cryptocurrency industry. Processing cryptocurrency requires cutting-edge hardware, meaning the number of virtual machines required constantly changes and frequent hardware upgrades are essential for competitive operations.
The Challenge
NiceHash operates in the fast-changing cryptocurrency industry with highly volatile demand that requires doubling VM capacity every two months, then dropping to minimum configuration without warning. The need for cutting-edge hardware meant constantly upgrading to latest machines. Traditional Committed Use Discounts required specific machine type commitments, preventing NiceHash from accessing significant compute savings while maintaining operational flexibility.
The Solution
DoiT's Flexsave for Compute automatically applies 1-year discount rates to optimally cover customer workloads with a simple one-click setup. The solution automates CUD management, allowing NiceHash to scale up or down in response to industry demand while maintaining optimized compute unit costs. Flexsave automatically adjusts to new workload demands and provides risk-free coverage without overprovisioning concerns.
Results
- Increased CUD coverage from 0% to over 80%
- Realizes discounts offered by CUDs while having the flexibility to upgrade machines
- Continuously getting the best rate for Compute Engine, no matter the scaling scenario
With Flexsave for Compute, we maximize our performance by having the flexibility to switch machines whenever we need, while realizing CUD discounts on those machines at the same time!
Denis Tomasevic, Head of Infrastructure & Security, NiceHash
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