Bitmain Ordos. Mongolia. The largest mining farm
Among the endless mountain landscapes of Mongolia, on the territory of the SanShangLiang Industrial Park, there is the largest mining farm in the world , which was built by the Bitmain corporation. This huge farm consists of 25,000 miners and produces Bitcoins worth 250 thousand US dollars per day.
As you might guess, maintaining such a large mining farm is very expensive. Such a farm consumes more electricity than a small city. It consumes $39,000 worth of electricity daily. This mining farm is so large that it requires several shifts of 50 people each to maintain it. These people monitor the condition of the farm around the clock and promptly eliminate possible problems. It remains to wish successful mining to those who are trying to do this on their home I5 processor.
The largest mining farm for Bitcoin and Litecoin cryptocurrencies is being created in Russia
In Russia, the attitude towards cryptocurrencies from the legislation is very restrained - they are not officially recognized. It was all the more surprising to learn that with the support of local authorities, consider the state, the largest cryptocurrency mining farm in the Russian Federation was opened in the Leningrad region, writes 5-tv.ru.
Cryptocurrency mining will begin on an industrial scale in the Leningrad region. Four floors of equipment will mine BTC and LTC.
At the moment, this mining farm, the largest in the Russian Federation, contains three thousand of these individual ASIC devices. And all together they bring in one million rubles in cryptocurrency every day.
This is something like a mining hotel. You buy or rent equipment and send it here instead of your home mining garden. And you're waiting for money. It's like a fairytale. Income is divided proportionally. True, all these calculations were made with a stable exchange rate for a completely unstable cryptocurrency.
“If the Internet stops working on the entire planet, then we will lose. But we believe that this is from the realm of fantasy ,” says Mikhail Kvasnikov, managing partner of the mining center.
The authorities of the Leningrad region proposed to create a mining farm in an abandoned building of a former biochemical laboratory. Officials decided to keep up with the times, but ahead of the legislation - Russia has not yet adopted a law on regulating cryptocurrency.
“This industry will flourish after the corresponding federal law is adopted. We are now interacting with the company that built the data center. From a legal point of view, for us this is a data center. What happens inside the data center is not a matter for the regional administration ,” said Vice-Governor of the Leningrad Region Dmitry Yalov.
But the data center is also a mining farm. The lieutenant governor even took part in its launch. You can play with the terminology. But if it is not prohibited, then it is allowed.
“Not a single law, not a single order, or request has appeared from either the Central Bank or the Ministry of Finance regarding cryptocurrency mining. That is, this type of activity is not prohibited ,” says the founder of the mining center project, Alexey Korolev.
But it is precisely the uncertainty with the future law that makes mining quite a risky business. Cryptocurrencies are prohibited in some countries. In Russia, for now, they only promise to limit themselves to taxes.
“A person engaged in mining automatically registers himself as a self-employed entrepreneur who will pay a certain tax. We are promised 3-5%. But promising does not mean getting married. “Everything can still change and the tax can be increased ,” says cryptocurrency researcher, member of the Bitcoin Foundation Alexander Kitchenko.
Formally, anyone can invest their money in mining equipment. And all the risks lie solely with the user himself. Meanwhile, in the Leningrad region they decided not to wait for a new law on cryptocurrency and are going to open another farm in the empty premises of the Leningrad Nuclear Power Plant.
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The material was prepared by the editors of the website “Mining Cryptocurrency”, consisting of: Editor-in-Chief - Anton Sizov, Journalists - Igor Losev, Vitaly Voronov, Dmitry Markov, Elena Karpina. We provide the most up-to-date information about the cryptocurrency market, mining and blockchain technology.
News Mining-Cryptocurrency.ru (go to all news feed)
- Cloud mining of Bitcoin in 2020 - how to choose a reliable and profitable service? — 08/14/2020
- Kraken Report: Bitcoin is on the verge of “great adoption”, BTC price will rise by 50-200% - 08/14/2020
- Bitcoin Enters Mega Bullish Phase, Over 93% of BTC Addresses Show Profit - 08/14/2020
- Anatoly Aksakov commented on the adopted law on cryptocurrency in Russia - 08/14/2020
- Platform for centralized management of the cryptocurrency mining process CoinFly - 08/14/2020
Cryptocurrency in RussiaMining
Giga Watt. Washington
Another very large mining farm is located in Washington state. Near a hydroelectric dam on the Columbia River. The Giga Watt mining farm consists of free-standing buildings called Giga Pods, in which thousands of miners are cooled using air. This architecture of a giant mining farm, according to engineers, is the most effective. There are 22 gigapods in total, and this is what one of them looks like.
Giga Pod of one of the largest mining farms in the world Giga Watt
This giant mining rig is home to thousands of ASICs and video cards. There are currently 1,700 video cards running on the Giga Watt farm. This farm was founded by Dave Carlson, an employee of Microsoft Corporation. He started mining in 2010, a year after Satoshi Nakamoto published the Bitcoin White Paper.
Hut 8 Mining Corp. Vancouver. Canada
Hut 8 Mining has teamed up with Bitfury to create one of the largest mining farms in North America. This farm consumes 86 Megawatts and consists of two data centers, which in turn consist of 73 blocks. This giant mining farm has attracted investment through Canadian stock exchanges.
Hut 8 Mining Corp. Vancouver. Canada
This large mining farm continues to expand to this day. Hut 8 Mining management plans to build new data center clusters for cryptocurrency mining and take first place in the list of the largest mining farms in the world.
Bitfury Mines. Georgia
Bitfury Corporation is the main competitor of the mining giant Bitmain and its ambitions are appropriate. This is why Bitfury built one of the largest mining farms in the world in the mountains of Georgia. Cold mountain air effectively cools the thousands of devices running on this super-farm.
One of the largest mining farms in the world Bitfury in Georgia
The Georgian government is doing everything to attract investment and technology. At the moment, the Bitfury corporation is actively cooperating with the Georgian authorities to create a real estate ownership database on the blockchain. This is a very good example of how forward-thinking governments can use new technologies effectively. Additionally, it creates value in blockchain technology.
Bitfury Mines in Georgia
Bitfury Mines Farm
Bitfury is not the last name in the world of cryptocurrencies. In addition to Bitcoin mining, the company is also actively working on the development of blockchain technology and its implementation in other areas of financial and management activities. The Georgian government actively supports the company's ambitions and is involved in attracting investment and innovation. The foresight of the authorities leaves no doubt, because blockchain is truly an excellent tool for creating and managing databases using decentralization strategies, which ensures maximum transparency of such activities.
As for the Bitfury farm, it is a huge building located in the Georgian mountains, equipped with thousands of powerful mining machines. By the way, cool mountain air creates especially favorable conditions for keeping constantly heating ASICs.
Bcause LLC. Virginia
The construction of the $65 million Bcause mining farm was announced in January 2020. Virginia Beach is not the most ideal place to build a data center. However, after the state authorities reduced taxes for this type of business, there was a compelling reason to build one of the largest farms in the world there.
Large mining farm Bcause LLC
Virginia state authorities allocated a grant of $500 thousand, which this data center received. It will allow the hiring of 100 more employees, which will ultimately have a positive impact on the state's economy. Additionally, when completed, this structure will be the largest mining farm on the continent .
Genesis Mining Enigma. Iceland
Construction of the Genesis Mining data center began in 2013, and it was stated that it would be the most powerful and largest Ethereum mining farm in the world. Today this farm also mines coins such as Zcash, Dash and Monero.
Genesis Mining Enigma. The largest Ethereum mining farm in the world.
This huge farm runs exclusively on energy obtained from geothermal renewable sources and is currently the largest Ethereum mining farm in the world.
The company's management is confident that Ethereum will take a leading position in the cryptocurrency market and will soon cost several thousand dollars per coin.
What is the share of mining in China?
As a result, it turned out that China accounts for only 50% of the global hashrate. This refutes previous estimates, as well as the widespread belief that China controls the majority of Bitcoin mining in the world today.
With a 14% share of global Bitcoin mining capacity, the US appears to be rapidly growing as a major Bitcoin mining hub, according to the study.
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Russia's share in Mining
Russia, Kazakhstan and Iran each account for 8%, Canada - 7%, Iceland - 2%, and the rest of the world - 3%.
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And lastly
Usually, the exact location of large mining farms is kept secret. This is due to the very high cost of computing equipment. So, one of the largest mining farms in the world could be right outside your window, and you don’t even know it.
There is no doubt that with the growth of cryptocurrency prices, even more impressive farms will appear. In the near future, we will see new mining chips being created that will increase mining performance significantly.
The largest mining farm in Russia
There are quite a few large cryptocurrency mining farms; you can write about each of them individually on a whole page or more. But they are all based on the same principle and therefore we have touched upon only a few. But they couldn’t bypass the largest mining farm in Russia, because you can understand that this is real for our lives. Watch a video about the largest farm in Russia. How it was created, how much energy it consumes and how many bitcoins it brings in per month
There are about 3 thousand Antmainer S9 machines installed on the farm; their power reaches 38 PH/S. There are only 4 specialists to maintain the farm. At the beginning of 2020, the farm’s income was 600 bitcoin coins per month, now perhaps a little less coins are mined, but the cost of bitcoin has more than doubled.
The farm is equipped with all modern technologies: cooling, short circuit protection, security and fire alarms.
