Bitcoin Forum

Look inside the surreal world of an Icelandic bitcoin mine, where they literally make digital money

http://uk.businessinsider.com/photos-iceland-bitcoin-mine-genesis-mining-cloud-2015-8?r=US&IR=T

It's nice to see one of the true cloud mining services showing their gear - and being considerably more transparent.  Unlike those ponzi scheme idiots who claim unrealistic numbers and disappear with your coin whenever they've hit their goals.  Too few genuine cloud mining providers out there... and too many scammers trying to rip people off.

Very impressive. Anyone knows the difference between mining in Iceland and China (costs, environment)? I have friends in both countries and want to start a nice project :)

Iceland = free country - good laws

China = suppressive as hell


make your choice  ;)

You forgot one:

US = fake freedom - Bitlicense (bribe) :D

Very impressive, the final data room looks spectacular with all that stainless steel and Genesis Mining really did go that one step further with lifeinsideabitcoinmine.com
There's certainly only a few real cloud operations out and it's great to see efforts to clear the foggy air hovering around the cloud mining name.
Has anyone ever shipped into overseas co lo hosting in such places like Iceland or set up shop from scratch?

I know ;) but I want to know renting and electricity costs of both countries :)

Personally, I prefer a free country. ;)

I want to know about their PSU they showed 18 connects (White Box).

They appear to actually be professionals, and not some kid that says they have mining.

I've done business in both Iceland and China.
I love both countries.
Initial investment amount is the key here.
Yet gun to my head, ceteris paribus, I'd choose Iceland for most large-scale mining endeavors.

neat arrangement of SP3x, allow quick service of a unit

you are my hero then :P, you still doing it? i mean business in both countrys, with what country made you more profit and why?

btw, thank you for the link, i like so much to see all those photos, that icelandic bitcoin mine looks awesome, now i have envy :)

what PDU are those?

That is one sexy mining farm. Better than pr0n(if I was into pr0n which I'm not).

"You can google it, but even without googling it is obvious that renting and electricity costs are much lower in China" - that's what I was going to say, but then googled it and I was very surprised to see that electricity costs are lower in Iceland actually:

Iceland   5.54  US ¢/kWh

China          7.5 to 10.7  US ¢/kWh

Bitcoin mining has always been the most effective method of gaining bitcoins. All you need is proper hardware, proper and right investment. But, mining doesn't sound easy as you think.
Bitoin mines in Iceland, one of the most coldest places of the world are the toughest place for mining. They need to be extra careful about what they do. And one wrong step can be fatal.
They are doing all this risky thing for getting bitcoins.. Its their love towards bitcoins. Its their passion for bitcoins.. This is a perfect way to tell how much btc is loved even in such harsh places of the world.

United States = 0.023/Kwh

United States : 0.023 like = United States : free country