Cryptocurrency

Top 3 biggest bitcoin mining farm in the world

Top 3 Biggest Bitcoin Mining Farm In The World:

The well-known cryptocurrency that attracts people from all over the world hides many secrets and fascinating things. Yes, we’re talking about bitcoin! A few years ago, if you wanted to mine bitcoin, everything you needed was just a computer connected to the internet. You could let your pc do its thing during the night, and if you got blessed, you woke up with some bitcoins in your pocket. Well, this strategy doesn’t cut it anymore since companies are building large bitcoin farms, consisting of thousands of computers mining bitcoin all day long!

Here is Top 3 Biggest bitcoin mines in the world.

Bitriver:

In 2018, Russia opened its largest data center called Bitriver in Bratsk. The location for this bitcoin mine was picked very thoughtfully, as it has 2 key factors you need for mining bitcoin; freezing temperature and low electricity prices. The average temperature throughout the year in Bratsk is only 3°F, which definitely helps to cool all of the GPU power needed for the process.

Bitriver has roughly 20 Bitcoin come in per day, helping Russia be one of the most powerful countries in bitcoin mining. The size of it just underlines its hash rate of 38 Peta Hashes per second, making the hourly power consumption of this farm around 4,500KW, costing 120,000 dollars per month. The Russian government is so far not very interested in bitcoin mining, in fact, it’s illegal to pay with bitcoins there, but Bitriver only provides needed equipment, which makes this business clean.

Bitfury:

Bitfury isn’t just one of the biggest Bitcoin mining farms, but also the oldest one, with its history dating back to 2011 when for 10,000 bitcoins, you could get 2 fresh pizzas. The company uses several softwares for bitcoin mining, so it’s impossible to calculate its hash rate, however, it is undeniable that it is one of the largest farms in the world. All the company’s big operations are controlled from Amsterdam’s headquarters by its founder and CEO Valery Vavilov, who seems to know his way around.

Bitfury has designed seven generations of its own specialized micro-chips under his leadership, and his net worth was estimated to more than a billion dollars! Unlike others, this one isn’t located in one specific country but has its huge facilities and centers in cities like Tokyo, London, Dubai, or Moscow. In 2020, Bitfury was one of many companies that donated some of its GPU-based computing power for coronavirus research.

GigaWatt:

Two of some of the most powerful and successful bitcoin mining companies in the US, MegaBigPower, and GigaWatt. they were both created by one of the most famous bitcoin owners, Dave Carlson. In 2017, he decided to launch a new venture called GigaWatt, which became one of the biggest bitcoin mining companies this planet has ever seen. The plan of the company was atypical, as its goal was to simplify access to bitcoins this time by enabling investors to buy a stake in the company’s services.

GigaWatt has raised over 1 million dollars from undisclosed investors to build out the facilities and offered bitcoins that raised about 22 million dollars in its opening year. This super mine exerted a ridiculous 30 MegaWatt hash rate and incorporated just over 1,700 GPUs. It has become not only one of the most powerful companies in North America but also worldwide. Everything was all suns and rainbows until the news about bankruptcy started spreading, what definitely scared the hell out of its customers, especially after the overpraised founder silently left the company.

Muhammad Uzair

Undergraduate Software Engineering , an aspiring blogger with an obsession for all things relevant to technology and information.

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