Do you want your own mining farm, or would you rather get into hosting?
Are you new to #cryptomining and wondering what makes the most sense for you?
Then you are exactly right in this article. Today we explain the pros and cons of running your own crypto mining farm to investing in #KryptoMinerHosting. Decide for yourself which way makes the most sense for you.
Own mining farm?
What is your own #MiningFarm? A custom mining farm consists of a physical location, e.g. a container, or a building in which a large number of specialized computers (Asic or GPU miners) are set up. This is designed exclusively for mining certain cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dogecoin etc.
Choosing a location – what needs to be considered?
The most important point is a large electricity connection, because without electricity there is no income!
The power connection should preferably be at a transformer station, a hydroelectric power station, a PV system or a wind farm. If you want to use alternative energies, keep in mind that these (except hydropower) require a large battery storage since no electricity is produced at night. Electricity from the “socket” is anything but cheap in Germany and it will certainly not be “cheaper”. So choose your location wisely.
Choice of location in Germany or abroad. Note the following things:
Laws in the region and political views on crypto mining / bitcoin mining
site security. It should be a safe region. No war, or war-prone area. Theft. Many mining farms have already been robbed. Avoid giving out your location.
Volume. A mining farm makes a lot of noise, so make sure it’s in an industrial area, or away from residential areas.
Installation of the mining farm
Get a professional to set it up. You will save yourself a lot of money, time and nerves, because it is not quite as easy as you might imagine. There is a lot to consider, the most important point here, besides power capacity and connections of the miners, is the heat. This must be routed out of the building, otherwise the hardware will break if it overheats.
When using a professional, such as Smart IT Alliance GmbH, you save on the costs of your own employees. If you wish, we can build a turnkey mining farm for you.
How many employees do I need for my own mining farm?
There are two options here:
Depending on the investment, you need 1-2 people every few days to look after things and a cleaner. Also for maintenance and installation of new equipment.
Training for your employees can also be booked through us.
Alternatively: You hire us and we take care of monitoring your miners, maintenance etc. This is also possible abroad!
Costs to set up your own mining farm?
– Installation costs of a 1-20 MW transformer.
– Container or building setup costs.
– Rent/lease/purchase price
– Own employees, or commission a professional to set it up
– Acquisition costs of equipment, hardware, etc.
– Training for employees (unless you choose to be mentored by us)
Where are the differences to hosting?
Actually quite simple. You don’t have to worry about any of this, because with hosting we take care of everything. You can start with a few miners or with an entire mining farm. It all depends on your investment volume.
What costs must be taken into account for hosting?
– Deposit i.H.v. 2 months
– Ongoing electricity costs
– installation costs
– hosting fee
What work do I have to do with hosting?
Anyone can get into crypto mining, whether with a lot or little experience. The dream of earning money with few or no employees with maximum returns can be generated in both cases. Although your own mining farm requires a significantly higher start-up capital than hosting a few devices.
In both cases, we are happy to help make it easy for you to get started in the crypto mining business.
Contact us and inquire about free capacities. We would be happy to advise you free of charge.
We look forward to you!The Smart IT Alliance GmbH team