A bitcoin farm is a place with hundreds of huge mining rigs to mine bitcoin or any other cryptocurrencies. These data center requires many technical, energy and financial resources and all theses equipments need complex protections.
What’s the purpose of mining farm?
It has been proved that when more than one or two mining machines are linked together, their mining power increases. So, if you own a single mining machine, you have lower chance to mine bitcoins compared to the situation in which you own a mining farm.
How mining farms can solve the hash rate problem?
Hash rate is the speed of solving mathematical problems. It is measured by the “hash per second” (H/s) parameter.
Nowadays with the competing ambiance of the btc mining market, computers need a high hashing power to mine coins. The volume of the bitcoin issuance does not change but every day, more and more people try to mine them. Consequently, the miners should have a higher level of hash rate to solve the mentioned bitcoin mining problem. Cryptocurrency mining farms allow the productivity of computers and, consequently, the hash rate to be mixed. The productivity of the largest farms can be several dozen hashes per second.
Besides, mining farms have thecnical characteristics. Physically they are rooms with a large number of computers and servers that take on tasks for mining. Farms can also be set up at homes, but the big problem is the excessive use of electricity. This might make your mining unprofitable. Electricity is the main resources that the investor should consider its price and costs. In addition, a home farm needs the required cooling and ventilation equipment to survive.
Since, the launch of a mining farm requires large resources and investment, they usually belong to user pools, each of which gains a profit from the farm in accordance with the share of investment.
Where are located The world’s largest cryptocurrency mining farms?
About the 70% of all mining in the world takes place in china. So, this country is the leader of cryptocurrency mining. Iceland, with a cold climate also mines a large share of all minings. The electricity expenses are also very low due to the cool weather. This attracts many miners from all over the world. Russia is also one of the pioneers in this economic market. It unites about three thousand ANTMINER S9 systems with a total capacity of 38 pH/s.
Setting up a minin farm
By compiling a bunch of specialized computers and mining machines, one can prepare a specialized place for a bitcoin farm. In a bitcoin farm, huge structures work 24 hours a day, 7 days a week to mine bitcoins. owners need to bear in mind the size, equipment costs, operation costs and power usage before even considering stating up a mining farm. The equipment itself is worth a pretty penny, and the electricity costs sky-rockets pretty quickly owing to the amount of energy consumed by the machines and then the cooling that the equipment needs in order for it not to overheat and blow out. It is not an easy task by any means, but when it is done correctly, it can yield some exceptionally delightful rewards.
Not surprisingly, due to the likely physical attacks, many huge bitcoin farms around the world are hidden. Most of them are located in china. There are controversies about the profitability of mining bitcoins in china. some specialists say that this trend can bring them many profits in the future. But some opposite parties believe that mining cryptocurrencies is a waste of electricity and money. Chinese people have accepted this economic market and have no oppositions. Some of them have home mining equipments and some have rented remote mining machines from successful related companies.