Planning of new large Bitcoin Mining Facility in Germany

[KingScorpio]

Hello Bitcoiners

i am private dude from germany and since i always wanted to have my own company to earn money and i always loved IT-machinery and real estate and so Bitcoin became like a godly perfect Solution for me.

now i am planning to install a bitcoin mining facility in germany with minimum 675 TH/s Hashing power and i am currently checking on getting the investment finance done and also the power supply to get that facility running on a profitable scale.

is there some advise from you on which softwares i should use to get that facility runnning

regards

Arthur

[mwizard]

Considering the cost of electricity in Germany, as in most of the world, I would suggest the best software to create a Bitcoin Mining Facility in Germany is Minecraft.  You should be able to construct quite a good setup.

[Swimmer63]

Hello Bitcoiners

i am private dude from germany and since i always wanted to have my own company to earn money and i always loved IT-machinery and real estate and so Bitcoin became like a godly perfect Solution for me.

now i am planning to install a bitcoin mining facility in germany with minimum 675 TH/s Hashing power and i am currently checking on getting the investment finance done and also the power supply to get that facility running on a profitable scale.

is there some advise from you on which softwares i should use to get that facility runnning

regards

Arthur

You might want to run a cost analysis on this idea first.  I am not from Europe, but:

--I think the cost of electricity there is going to kill you.
--Likely, the cost of real estate is going to kill you.
--675 TH/s is not going to do too much for you.  That's considered advanced hobbyist sort of speed. 

I run about 110 Th/s and at 6 times my profit, I still would not call it a business.
If your objective is have fun and maybe make a little money it might work.  If you are looking to make real money - start your business in Iceland and get it up to 5 PH/s.
But that's just me talking.

[coolcoinz]

If you continue with your plan and set it up in Germany I can assure you your money will go to waste.
Germany has one of the highest electricity costs in Europe, the graph I showed below is old, but it shows the general trend. Also there are no positives of building it in there, the climate is mild, miners will require cooling, maybe some renewable sources, but these aren't cheap in Germany, because there isn't much sun exposure and no geothermal, so you're left with wind... Finland looks much better, cold weather, so no need for ac, much cheaper electricity. Not far from Germany, I'd say 2h flight should get you there. Good luck!

[rotzbouf]

With the current profitability and difficulty, mining bitcoins in germany is not worth it unless you have free electricity. You should rethink your plan

[brobbel]

Agreed with the previous posters.

Only... when you have enough free electricity (Germany had very good options for solarenergy) you can rethink your plan, but otherwise: don't do it.

[rotzbouf]

Even with solar panels, the roi for the panels takes already several years in germany. so the electricity is not completely free  as it takes some initial investment. Keep this in mind with your calculations.

[terrate]

Hello Bitcoiners

i am private dude from germany and since i always wanted to have my own company to earn money and i always loved IT-machinery and real estate and so Bitcoin became like a godly perfect Solution for me.

now i am planning to install a bitcoin mining facility in germany with minimum 675 TH/s Hashing power and i am currently checking on getting the investment finance done and also the power supply to get that facility running on a profitable scale.

is there some advise from you on which softwares i should use to get that facility runnning

regards

Arthur

when i see ppl says about electricity cost, if u really want to do, try to beat the difficulties.
no easy to be profitable. u need research more.
softwares should not be the main problem of this. ROI and costs will be main issue.

if u get through this, u will be big guy! ^^
(above just my own opinion)

[KingScorpio]

i think i have a great qualification for this setup (mechanical engineering Real estate & finance & investments and i loved to do IT in my spare time)

i am able to get the electricity prices down in germany, these prices are for consumers u have to argue with the autorities and the city, since i want to setup a profitable company in their city which then will pay taxes on its returns they will give me taxation discounts on the electricity prices, its better to charge taxes for them on a company which exists. i am currently at 0.083€/kwh i think i am going to get it down to 0.05€ if i chose the location of the mining facility at a good place where the electricity network isnt under such high pressure, i am welcoming for people who want to help me invest into this farm so we can make it bigger the city is a great choice, lots of renewable energy available lots of empty post communist industrial buildings, i can go far above 675 TH/s the current 8.3 cent offer i got is for 580 000 kwh cosumption per year if i head towards 2 mwh i will get 0.03 cents cots for the electricity added to that is the charge for the network.

from a phone call i got told that the prices for pure energy in germany vary between 0.03 and 0.038 ct per kwh since i got an offer of 0.083 kwh almost the entire difference is the price for the network of energy so the location of this build must be placed in the city in a way that the network will not be pressured buy the large amount of energy i am about to transfer.

but hey more mining facility will make bitcoin stronger and more secure better hacking protection and more valuable since the difficulty goes up so this mining facility i am planning will be good for the city it will be build in and for the bitcoin networks as a whole with this in mind u can get electricity prices down also in electricity expensive places like germany and denmark.

[coolcoinz]

Have you really considered all the pros and cons of doing it? Like the cost of setting up a power substation near that old post communist building? The cost of preparing the building (outlets, racks, air ducts, AC units, smoke detectors). There's also security, you'll need someone to be there and watch it. You'll need decent locks on the doors, and some cameras to monitor it from home.
Prepare a business plan with all the expenses summed up and you'll see it's a lot of money.

[KingScorpio]

Have you really considered all the pros and cons of doing it? Like the cost of setting up a power substation near that old post communist building? The cost of preparing the building (outlets, racks, air ducts, AC units, smoke detectors). There's also security, you'll need someone to be there and watch it. You'll need decent locks on the doors, and some cameras to monitor it from home.
Prepare a business plan with all the expenses summed up and you'll see it's a lot of money.

well since i want to build that and as long as the profit stays good i gonna have to do that, luckily germany has quite a lot of good and reliably companies who can help me on that one,

today i checked the energy prices tommorrow i gonna have to check for the power network supply,

is a power substation really necessarry when u are below 2mwH? in the northern part of the city is a power station with 110 kV build recently because of the upcomming decentral wind power plants all over the country, the entire city consumes 750mwh per year so i am not really such a huge deal for the cities network as loong as i stay below 7mwh electricity < 1% consumption

the good things about germany is that currently u have good infrastrucutre and educated people running it which comes from the strong state, unlike in india afrika or china or the united stated where the network is poor and violence from autonomous people are likley, other pros of germany is that the electricity is renewable generated and has high potencial since north of europe can produce a lot of electricity via windpower still and the eu market for electricity is still in development.

i am very busy doing my work right now so sorry for bad spelling and grammar

regards

[brobbel]

There is also a german part on this forum. Maybe you can go there also, because there are more people knowing the German rules/prices/problems. They have more regional experience.

[DebitMe]

Don't forget about cooling that much machinery.  You will probably have to invest heavily into industrial sized cooling in order to make a facility like that work.

[KingScorpio]

There is also a german part on this forum. Maybe you can go there also, because there are more people knowing the German rules/prices/problems. They have more regional experience.

not all, many dont have university degree investment and finance, real estate law and taxation skills like i do, and are more the type of home miners i want to build a big facility since i have studied to do that and i am capable to do that and plus the current european central banks helps a lot with its monetary policy to build companies like the one i am planning i might get an interest of down to 2.07%

[KingScorpio]

i think i will build it minimum 5.4 pethaHash big

[KingScorpio]

Hello Bitcoiners

i am private dude from germany and since i always wanted to have my own company to earn money and i always loved IT-machinery and real estate and so Bitcoin became like a godly perfect Solution for me.

now i am planning to install a bitcoin mining facility in germany with minimum 675 TH/s Hashing power and i am currently checking on getting the investment finance done and also the power supply to get that facility running on a profitable scale.

is there some advise from you on which softwares i should use to get that facility runnning

regards

Arthur

You might want to run a cost analysis on this idea first.  I am not from Europe, but:

--I think the cost of electricity there is going to kill you.
--Likely, the cost of real estate is going to kill you.
--675 TH/s is not going to do too much for you.  That's considered advanced hobbyist sort of speed.  

I run about 110 Th/s and at 6 times my profit, I still would not call it a business.
If your objective is have fun and maybe make a little money it might work.  If you are looking to make real money - start your business in Iceland and get it up to 5 PH/s.
But that's just me talking.

5ph sounds good but i dont like icelanbd at all who wants to have a company there? not many people live there, better i adapt my company to have a decent cooling i doubt that u can go lower much in energy prices in western world in comparision u might have lower energy prices in developing countries but at the expense of political security and poor infrastrucutre both antrophological infrastructure and too technological one.

[QuintLeo]

the current 8.3 cent offer i got is for 580 000 kwh cosumption per year if i head towards 2 mwh i will get 0.03 cents

 If your actuall "ALL costs included" price per KWH of electric is in the 8.3 cents (US equivilent) range, that's not going to work well IF at all for a major mining facility.

 3c / KWH on the other hand IS a good price range to run a major facility.

 Make sure you are looking at ALL of the costs though, not just the base rate charge. In many cases the "added charges" and surcharges total up to MORE than the base rate does.

 2 MW is not "substation" power draw range, but it DOES take some substantial investment in infrastructure. Check out the Great Northern Data thread for some information - they're bigger than that, but not in a range that they're completely different on infrastructure requirements.


 675 TH by current standards isn't all that big of a farm - it's definitely not SMALL but by the standards of the Major Farms it's definitely on the low end.