Trespassing into a crypto mining farm might sound like an exciting trip, but not here, since its 20,000 mining devices are controlled by a team of engineers 24/7, and an armed guard makes regular patrols in the house, so uninvited visitors won’t stay for too long. Even Genesis Mining Technologies considered how to optimize production as much as possible and therefore placed great importance on their buildings’ location. We already told you that devices doing the mining can dangerously overheat, and that is exactly why its founders decided to move their farms from Bosnia and China to some of the world’s coldest places, Iceland and Canada. I mean…
imagine trying to cool those machines in a middle of a dessert. Iceland also offers low electricity prices, which the company takes full advantage of when they use more electricity than all of their homes combined, with electric bills running more than 1 million dollars per month! Authorities of Genesis are trying to convince critics of large-scale electricity consumption using as many renewable resources as possible.
However, energy is not the only inconvenience, as all those important and complicated machines make an incredible noise that could be compared to a jet engine taking off. Fortunately, the largest mining building globally, known as Enigma, is located in a deserted location near Keflavik Airport, so it won’t interrupt anyone’s afternoon nap. A vast number of computers are guarded continuously by workers, especially after many robberies where technology for 2 million dollars has disappeared.
World Biggest Bitcoin Mining Farm In China:
Unsurprisingly, China leads the world’s bitcoin mining and production of video cards for cryptocurrency mining. About 70% of all the mining activity is done here, and 3% of that is mined in one of China’s small cities. World Biggest Bitcoin Mining Farm In China. Mining Farm in Dalian, named by its location, is the most profitable farm globally, with 4,050 Bitcoins mined per month, which is currently about 150 million dollars, but might be worth a million more or less in a minute.
This city is a special place in the Bitcoin mining industry because its environment, air quality, and conditions are relatively better than in other Chinese cities. Farm owners in China have one big advantage over the rest of the world. What is it, you ask? Well, the Chinese government not only allows mining but also encourages it by reducing electricity charges for the energy-hungry farms, and the delivery of equipment is cheap or even absolutely free! We can’t argue it might be a big help, but the company still pays around 1,170,000 dollars a month just for the electricity. At its best, the company could mine about 100 bitcoins a day thanks to the computing power of 360,000 Tera hashes.
The entrepreneurs, however, found it difficult to sustain, so the real number varies every day. Bitcoin may become a substitute for classic money in the future, and China undoubtedly wants to be part of it.