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Author Topic: Three months living in a multi-petahash BTC mine in Kangding, Sichuan, China  (Read 158521 times)
Eric Mu
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May 28, 2015, 01:44:39 AM
 #1

[Important: OP is no longer affiliated with HaoBTC.com. For business enquiries, please contact eric.mu@sinohash.com.]
On May 26, 2015, I embarked on a three-month project working and living at a BTC mining farm located in the mountainous region of western Sichuan province near Tibet. Using cheap hydro-power and low-cost water-cooling system, this datacenter has achieved high ROI rate with minimum carbon emission. At the time of writing it has a hashrate of 4.7 PH. According to the plan, it will eventually reach 12PH over the next three to four months. Transparency being central to our business model, this facility will be open to visitation - write me if you want to drop by and enjoy the spectacular view or test your manhood (or womanhood, for that matter) and find out if you can triumph over a rugged mountain life.
Note 1: I just revised the headline and writing to better reflect the nature of this thread, which will be a series of short pieces and photos reporting on my life here. Post your questions and I will be happy to answer them when I get a chance. June 2, 2015
Disclaimer: The author of the post is employed by the company that owns and operates this facility.

















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May 28, 2015, 03:19:13 AM
 #2

This is awesome!  Grin

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May 28, 2015, 03:43:54 AM
 #3

How much are you paying for for everything? What is the final cost of $/GH?

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
Eric Mu
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May 28, 2015, 04:24:23 AM
 #4

How much are you paying for for everything? What is the final cost of $/GH?
This may not be accurate but our estimate is RMB 1.5 million per petahash - excluding running costs such as electricity and maintenance.
Eric Mu

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May 28, 2015, 05:12:38 AM
 #5

Very Impressive!!!

It looks like this is all new gear? This isn't existing gear that's being relocated, is it?

Lovely picture, and breathtaking view.....
Eric Mu
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May 28, 2015, 05:36:08 AM
 #6

Very Impressive!!!

It looks like this is all new gear? This isn't existing gear that's being relocated, is it?

Lovely picture, and breathtaking view.....

The equipment is actually relocated - the new location has cheaper electrical rate so it makes sense to relocate. We would have bought new ones but the supply has been tight and we deem the prices for the new ones are too high. We are looking to acquire secondhand S3s, believing that it provides superior ROI given the current market condition.

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May 28, 2015, 06:26:32 AM
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How much are you paying for for everything? What is the final cost of $/GH?
This may not be accurate but our estimate is RMB 1.5 million per petahash - excluding running costs such as electricity and maintenance.
Eric Mu

Thanks for the answer.

Do you keep the coins or do you exchange most of them for paying for power?

iCEBREAKER is a troll! He and cypherdoc helped HashFast scam 50 Million $ from its customers !
H/w Hosting Directory & Reputation - https://bitcointalk.org/index.php?topic=622998.0
Eric Mu
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May 28, 2015, 06:33:52 AM
 #8

How much are you paying for for everything? What is the final cost of $/GH?
This may not be accurate but our estimate is RMB 1.5 million per petahash - excluding running costs such as electricity and maintenance.
Eric Mu

Thanks for the answer.

Do you keep the coins or do you exchange most of them for paying for power?

We are believers so we keep as much as we can. That said, the hydropower station has yet accepted Bitcoin so we have to sell a portion to pay our bills.

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May 28, 2015, 08:14:37 AM
 #9

nice! im just back from jiuzhaigou last week. It's really pretty mountain at sichuan.
Very enjoy your photo. BTCBTC
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May 28, 2015, 08:24:44 AM
 #10

Wow, just got to say those pictures look amazing!
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May 28, 2015, 08:30:35 AM
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Eric, I found these pictures amazing. It would be interesting for bitcoin, you and electricity company to cut the middleman (banks/fiat currency). Perhaps, as your business gets bigger you will have bargain power over that.
I wish I could pay a visit to this farm one day, since you mentioned you are open to visitations. Unfortunately I don't think that will happen since I am in another country.
I hope I accomplish something close to that one day.

I have so much to say and ask, but I would probably annoy you and you might me see as a potential competitor and naturally have no interest on talking much, but anyways
I am mounting my farm now, too, though needless to say hundreds of times smaller than yours. I wonder how the electrical installation is being managed. I suppose you needed many big cables to gather such energy. Can you give us an estimate of how much you pay per kwh, including fees and taxes? I have seen you pay $0.03/kwh but I wanna confirm that includes fees, taxes and any other costs. If it really is $0.03 I am assuming it is cheapest energy in the world and China will definitely ensure its dominance on mining (which already is happening) - and I will think about moving there  Cheesy
Is the water doing anything related to mining? You seem to have a great water system and it doesn't seem that is for generical water usage by employees. I am going to guess it's related to cooling.
How are you planning on cooling? Just fans to push hot air out? No AC or anything else?

Be careful, many bad people in the world so if you are going to disclose your location and make yourself available to visitation make sure to secure it all well since you will have million of dollars in equipments

In this thread, difficulty going up soon  Cheesy



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May 28, 2015, 11:04:32 AM
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Good to see the network distributed again  Roll Eyes
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May 28, 2015, 11:41:13 AM
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OMG, this is awesome, those pictures look amazing and the place... omg im in love with it!!

will you made a video for us? will be funny to see your minning farm running.

Thanks for sharing!
Eric Mu
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May 28, 2015, 11:44:18 AM
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Eric, I found these pictures amazing. It would be interesting for bitcoin, you and electricity company to cut the middleman (banks/fiat currency). Perhaps, as your business gets bigger you will have bargain power over that.
I wish I could pay a visit to this farm one day, since you mentioned you are open to visitations. Unfortunately I don't think that will happen since I am in another country.
I hope I accomplish something close to that one day.

I have so much to say and ask, but I would probably annoy you and you might me see as a potential competitor and naturally have no interest on talking much, but anyways
I am mounting my farm now, too, though needless to say hundreds of times smaller than yours. I wonder how the electrical installation is being managed. I suppose you needed many big cables to gather such energy. Can you give us an estimate of how much you pay per kwh, including fees and taxes? I have seen you pay $0.03/kwh but I wanna confirm that includes fees, taxes and any other costs. If it really is $0.03 I am assuming it is cheapest energy in the world and China will definitely ensure its dominance on mining (which already is happening) - and I will think about moving there  Cheesy
Is the water doing anything related to mining? You seem to have a great water system and it doesn't seem that is for generical water usage by employees. I am going to guess it's related to cooling.
How are you planning on cooling? Just fans to push hot air out? No AC or anything else?

Be careful, many bad people in the world so if you are going to disclose your location and make yourself available to visitation make sure to secure it all well since you will have million of dollars in equipments

In this thread, difficulty going up soon  Cheesy

Hi chalkboard17,
In China, legislation is still lacking in this area so taxes are minimal - I am talking about a few hundreds dollars per month.
$0.03 /kwh is pretty cheap but i know people who get "free" electricity.
We use combination of air-cooling and water-cooling and we deem the result satisfactory enough.
See images:





 



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May 28, 2015, 01:28:21 PM
 #15

amazing, thanks for sharing. I'm always enjoying view of "real" guys, not just some boxes with fans and printscreens from cgminer.)

good luck with your business!
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May 28, 2015, 03:16:44 PM
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What about connectivity? How you will manage redundancy in a such unlinked area?

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May 28, 2015, 03:26:41 PM
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And I'm just sitting here with a cheap graphics card Cry

What do you plan on doing with the Bitcoins you mine? Are you going to keep them or exchange them for fiat?

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May 28, 2015, 03:57:17 PM
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Amazing setup.  You mention S3s, but they look like you are using S5s?

Where were your units located before?  I'm always glad to hear about relocated units instead of all new units, keep that network difficulty down as much as possible.

Do you know how long it will take to ROI?
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May 28, 2015, 04:11:15 PM
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What do you plan on doing with the Bitcoins you mine? Are you going to keep them or exchange them for fiat?

ahh, I don't have even those cards.))

imho miners like him have to exchange at least half to fiat in order to pay all related expenses..
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May 28, 2015, 04:45:07 PM
 #20

What do you plan on doing with the Bitcoins you mine? Are you going to keep them or exchange them for fiat?

cmon, now.. it's already answered only a few posts up Smiley

Do you keep the coins or do you exchange most of them for paying for power?
We are believers so we keep as much as we can. That said, the hydropower station has yet accepted Bitcoin so we have to sell a portion to pay our bills.

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