bitcoin farms

Bitcoin farms are places with the primary purpose of storing lots of mining equipment that are used simultaneously to make a profit by mining. They are usually located in large warehouses or buildings that house hundreds or thousands of machines working in real time to carry out mining and there are many companies that work exclusively to manage the operation and performance of these Bitcoin farms.

Let’s take a look at some examples taken from the wikipedia of large bitcoin farms

Changcheng farm. Liaoning, China

This Bitcoin farm is one of six farms belonging to an anonymous group of 4 members located in a rural area in northeastern China. This group has 5 other Bitcoin farms and together, they are equivalent to the computational power of 3% of the entire Bitcoin mining network. In October 2014, these farms generated an average of 4,050 Bitcoins per month, the equivalent at the time of about 1.5 million dollars. Changcheng Farm occupies an entire floor of a building and has about 3,000 mining machines constantly running to carry out mining. Electricity consumption on this farm is in the range of 1,250kWh and its electricity bill amounts to $80,000 per month. This mine has employees who supervise the mining process and make the necessary maintenance and adjustments to the farm’s system. The mine also has about 12 exhaust fans in order to control the temperature so that the miners do not break due to the high temperature generated by the mining process. Employees live in the mine and are paid relatively high wages to manage it. The noise pollution of this factory is very high due to the number of miners and fans for temperature control

Dave Carlson’s farm, United States.

This farm is one of the largest Bitcoin farms in America, located in eastern Washington state, its exact location is a secret, as its owner makes about 8 million dollars a month from the mining process and he believes that by not disclosing your location it can keep your business safer from attacks by hackers or malicious individuals. According to Carlson, he chose the location of the farm based on the state’s electricity price, as it consumes about 1.5 megawatts, which could supply the electricity consumption of a small town. The computational power of this mine is estimated at 1.5 petahashes, coming from thousands of machines built especially for the mining of Bitcoins.

Bitcoin farm in Iceland

Like the other Bitcoin farms, this Icelandic farm has thousands of specialized miners to carry out the chase for the prize from Bitcoin mining. One of the main advantages of the location of this farm is the constant cold Icelandic climate. This mine, in addition to mining Bitcoins, also mines Ethereum, another cryptocurrency whose popularity is growing more and more despite security problems that have already occurred in its history. Cheap electricity is another bonus of the location of the Genesis mine. The farm owners also own other farms in Bosnia and China.

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Post Written and created by Bruno Costa