Crypto Farm Project

[realjohntit0r]

Hello, everyone! I’d like to talk to you about an opportunity that has come up. I have experience with home mining setups, rigs with 50/60 GPUs. However, a friend of mine, who has substantial funds and influential connections, recently secured investors to put $10 million into a crypto mining farm project. He also managed to obtain a license to set up this farm in Oman, where energy costs are as low as $0.06 per kWh.

Here’s the thing: he asked me to lead the project. While I have experience, I’m not knowledgeable about large-scale farms. I believe I can study, structure a plan, and assemble an appropriate team, but the scale of the project feels overwhelming. I would have a stake in the project and receive a monthly income, but I’m also questioning whether this is the right time to take this on.

We’re living in a dream phase for Bitcoin with the bull market, but starting this farm now means it would only be operational in about a year and a half. By then, there’s the possibility of a significant Bitcoin correction due to political factors or external events, which historically tend to cause sharp price drops.

What would you do in my situation? What contingencies do you think I should consider? Is it worth taking this risk? I’m in a relatively good place in life right now. I have my investments, my savings in crypto, and I don’t depend on taking on this level of stress to maintain my lifestyle.

I’d love to hear your perspectives on this and see the situation through different eyes.

[NotFuzzyWarm]

Running a home mine is vastly different than running an industrial-scale farm. Do you have *any* experience in business management? Things such as facilities design/management for power & HVAC, human resources, IT skills, etc? This goes far beyond finding a building, running some wiring and then loading it with miners.

[realjohntit0r]

Running a home mine is vastly different than running an industrial-scale farm. Do you have *any* experience in business management? Things such as facilities design/management for power & HVAC, human resources, IT skills, etc? This goes far beyond finding a building, running some wiring and then loading it with miners.

So, I’m fully aware of that. I’ve worked in Big Tech in PO and PM departments, and I’ve been part of the IT team in blockchain programming. However, I know this is a completely different challenge. I have an idea of how to get started — I’d need to find a competent manager, a CTO with experience, and begin building a team to help structure everything because it wouldn’t be possible to handle it alone.

It’s very challenging but also tempting. Do you have experience in this area? What would you do in my position?

[nazirmehrab]

Oman holds great promise for crypto businesses; starting a crypto mining farm can pay rich dividends soon.
I have come across some guides; see if these can be of any help:

https://www.gryffincapitalist.com/om
https://www.feamish.com/OMAN/services/business-start-up

These will help you understand the process of setting up your crypto farm.
This will help you understand how to get your Crypto license:
https://alphapoint.com/blog/crypto-trading-license/