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How to Build a Bitcoin Mining Farm?
Bitcoin went from a shady virtual currency of questionable value and purpose to a trusted cryptocurrency used by millions very fast. Once people realized that you could mine it and earn real money, the concept of mining Bitcoin spread like a wildfire. However, the matter isn’t as simple as that. Before you start mining, you should be acquainted with the basics. Building your farm requires space, electricity, and knowledge. To make it easier for you, we’ll discuss the most critical aspects of building your very first mining farm.
How Does Bitcoin Mining Work and Where to Start
Mining isn’t the only way to earn money out of Bitcoin. You can trade with it pretty much as people trade on the stock market. Many early adopters mined or bought ungodly amounts of Bitcoin and made a small fortune selling it once the price jumped drastically.
When it comes to mining, it takes a bit more time to earn from Bitcoin. So what is Bitcoin mining anyway? Mining cryptocurrency is the process of setting multiple rigs that will earn (or mine) a small percentage of Bitcoin every day. The size of your farm determines how much you’ll mine each day and how much you’ll eventually earn. The bigger, the better.
However, there is a catch. Mining requires a lot of electricity. Not to mention the fact that you’ll need a decent budget for starting a mining business in the first place. If you’re still interested in mining, here’s where to start.
Because mining cryptocurrency requires you to build a farm of workers, you’ll obviously need space for it. These units will emit a lot of heat and noise, depending on how you use them. Therefore, it’s best to rent a place to start your very own Bitcoin mining farm. You won’t need something too spacious, as you won’t spend time in it.
You’ll need a dry, clean place with adequate ventilation to maximize the performance and make the most out of your farm. Why dry and clean? Simply because humidity can affect, to no small extent, how much workload your units can take. To be safe, find a place away from main roads – maybe an industrial area or anything secluded.
Energy and Workload
Once you’ve found a place to settle and build your mining farm, you’ll need the right components. As technology advances rapidly, finding the best cards for your first farm isn’t exactly the easiest job. It’s best to do a bit of research and find the right GPU model to balance cost and effectiveness. To get the best benefit-cost ratio, you should look for graphics cards specifically designed for mining.
After that, there’s the matter of buying the right power supply for your mining farm. Because your GPUs will work 24/7, you’ll want to make sure there’s no room for error. The last thing you want is for your hardware to overload.
The first step is to check your GPU’s energy consumption. If your mining GPUs require 600 watts to run without any risk, you should get a power supply that can output 30% more. Use the same principle for every rig that you assemble for mining.
Is It Worth It?
The question of whether mining is worth it nowadays isn’t one that’s easy to answer. It’s really relative, as it depends on how much you can invest and how much you plan to earn over a period of time. For example, it takes around 1,300 days for an Antminer S19 to generate one Bitcoin at the current difficulty. There are better builds, of course, but in general, that’s the math.
So, it’s really up to you to decide whether mining is for you or not. If you’re looking for a faster way to get your hand on some crypto, you can always check out the best bitcoin casino reviews and see if Lady Luck is on your side!