What is sustainable crypto mining all about? Is there a way to run crypto mining profitably and sustainably, or is this a pipe dream? In which part of the world does it make sense to mine crypto or can mining be done anywhere? You will find out all this in the following lines.
The hype about #cryptomining
To get the hang of why #cryptomining is so popular, you should first understand why the blockchain makes so much sense. The #Blockchain is a decentralized network within the Internet. This means that information is not stored in one place, but locally on all computers in the network. In order to make the blockchain secure, the information is not only stored on hundreds but thousands of computers to protect against hacker attacks.
With cryptocurrencies, information is stored in the blockchain, such as the wallet address (practically like a bank’s IBAN) from the sender and recipient, the transfer amount, the date and time of the transaction, and the transaction fee. This information is available to everyone and is easy to find if you know one of the two wallet addresses or the transaction ID. The sending of #cryptocurrencies happens worldwide in a few moments (seconds to minutes) and is therefore significantly faster than a standard bank transfer. But don’t worry, even if the accounts are viewable, nobody can access them except the one with the necessary credentials.
The reason for the boom in cryptocurrencies is definitely the blockchain technology, but another reason is the immense returns that can be achieved from mining. Depending on the cryptocurrency, returns of between 1-9% per month can be achieved.
A pure #BitcoinFarm with a low electricity price (e.g. in the #USA via our #HostingService) currently has a return of between 1 and 3% per month. With a #MixedFarm, consisting of #Ethereum, #Bitcoin, #Kadena and #Dogecoin, the monthly return is already between 4-6% and pure Ethereum Mining between 7 and 10% per month. The factors of the current exchange rate, electricity costs and hosting fees must always be taken into account in the calculation. The lower the electricity costs, the more profit can be generated.
If you consider that 5% returns per year are high for #real estate, returns in mining are unbeatable at 5-10% per month. It is also a fixed source of income, albeit very volatile.
The main cost of crypto mining is the high power consumption, which is why crypto mining is very common in countries with low electricity prices. For example, in Russia and Kazakhstan, large mining farms are used with energy from nuclear and coal-fired power plants. The green idea is not in the foreground here.
The situation is different in countries such as the USA, #Norway or #Paraguay. Huge mining farms are often placed there at #hydroelectric power plants, #solar or #wind farms. Here the green and sustainable idea can be realized with maximum returns.
Our customer favorite is the crypto investment through our hosting packages. High returns paired with minimal effort and green thoughts make the investor’s heart leap for joy. Especially when you are aware that you are not responsible for any further climate crisis, as is the case with our everyday consumption.
Crypto mining in Germany or the EU?
Due to the current political situation, crypto mining in Germany, the EU and the surrounding area is only worthwhile with alternative energies. If you are the owner of your own PV system including battery storage or other alternative energy sources and can therefore operate green crypto mining, it is worth it for you, no matter where you are in the world. Otherwise, we do not recommend new systems in Germany and the EU if you are dependent on electricity from the socket. Plan your investment as sustainably as possible to get the maximum satisfaction from your #investment. We are very happy to answer any questions you may have.
Crypto mining is very power intensive. Due to sustainability, we also rely on future green crypto mining.
Our personal goal is to convert all our mining farms to 100% green electricity by 2023.
Our investors and mining farm owners can look forward to joint, sustainable mining with us.