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Author Topic: Community mining farm  (Read 506 times)
MinerLogic
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February 26, 2016, 01:44:39 AM
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Is there any interest in a community mining farm?  I currently have roughly 250+kw worth of capacity in Washington state with extremely competitive electricity rates.  I had originally planned on mining internally with hardware I already own, but with the recent difficulty adjustments, I am realizing I would be better off leasing the space to customers with more efficient hardware.  At $50 per kw month I would be more profitable than running my 1 watt per GH equipment. 

The reason I am proposing this as a community mining farm is because I have the connections lined up (land owners in the county with the cheapest power in the state willing to erect buildings, electricians to complete all of the interior wiring, and the proper channels at the PUD) to expand this 250kw worth of capacity into the MW's range.  At a larger scale I would be able to offer rates even lower than $50 per kw month.  Being in the position I am in, I feel the pain for the home miners who are unable to compete with those that have extremely low electricity rates required to stay competitive in mining.  I would like to put something together that allows small miners to come together and pool resources in order to enjoy the benefits of the cheapest electricity in the country.

I realize I am unknown in the community and there will be a trust barrier that needs to be bridged.  I am open to a trusted member coming to view the facility and verifying that what I am saying is true.   I have been mining on a large scale for over 2 years and this is not my first rodeo.  My company is registered with the state of Washington and I will be more than happy to give my real name and company information should this materialize into something people show interest in.  The building and all mining equipment is insured against theft, fire, etc.

These are just my initial thoughts to gauge interest, I am open to suggestions for how this could be rolled out.
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February 26, 2016, 06:45:04 AM
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Is there any interest in a community mining farm?  I currently have roughly 250+kw worth of capacity in Washington state with extremely competitive electricity rates.  I had originally planned on mining internally with hardware I already own, but with the recent difficulty adjustments, I am realizing I would be better off leasing the space to customers with more efficient hardware.  At $50 per kw month I would be more profitable than running my 1 watt per GH equipment.  

It may not affect you if you later expand, but there is some pressure to raise the electricity price for Bitcoin miners around the Wenatchee area in Washington State.  There is also a moratorium by Chelan PUB till at least October on new small Bitcoin mining farms.  

http://datacenterfrontier.com/bitcoin-mining-boom-prompts-utility-rate-hike/

In general I have difficulty seeing this working. It is not just electricity cost.  Individuals just do not have access to state-of-the art miners. Unless something changes it will be almost impossible for an individual to have an ROI after July, when total mining income halves.

Trust will also be an issue. There have been a number of people try to do something like you but in the end nothing came of their plans.
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February 26, 2016, 06:57:15 AM
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Well since your other thread deleted, will give my suggestion here instead: Regarding someone verifying your legitimacy, that wouldn't be enough and someone should monitor the situation constantly somehow. Since your from US, I would advise to contact philipma1957: https://bitcointalk.org/index.php?action=profile;u=64507 IIRC his from Us as well (not sure what state). He knows well and surely could help you on this matter.

MinerLogic
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February 26, 2016, 07:21:56 AM
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Is there any interest in a community mining farm?  I currently have roughly 250+kw worth of capacity in Washington state with extremely competitive electricity rates.  I had originally planned on mining internally with hardware I already own, but with the recent difficulty adjustments, I am realizing I would be better off leasing the space to customers with more efficient hardware.  At $50 per kw month I would be more profitable than running my 1 watt per GH equipment.  

It may not affect you but there is some pressure to raise the electricity price for Bitcoin miners around the Wenatchee area in Washington State.  There is also a moratorium by Chelan PUB till at least October on new small Bitcoin mining farms.  

http://datacenterfrontier.com/bitcoin-mining-boom-prompts-utility-rate-hike/

In general I have difficulty seeing this working. It is not just electricity cost.  Individuals just do not have access to state-of-the art miners. Unless something changes it will be almost impossible for an individual to have an ROI after July, when total mining income halves.

Trust will also be an issue. There have been a number of people try to do something like you but in the end nothing came of their plans.

I experienced first hand dealing with Chelan PUD.  Their moratorium was expanded 2 days after I signed a lease for the initial location I was planning on building out.  They wouldn't give me any power because of it.  In hindsight it was actually a blessing in disguise.  Miners in Chelan are going to see their rates hiked up to almost double what they are now which will be around 5 cents.   Needless to say there are a lot of pissed off miners about it.  I am in a neighboring county and although I can not say with 100% certainty that rates will not go up, they were just recently voted on and the rate adjustments have been set for the next 10 years.

You have a point about ROI challenges ahead but with current S7 pricing I wouldn't say individuals don't have access to state of the art miners.  There might not be any interest, in which case I will just continue mining internally.  
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February 26, 2016, 03:54:48 PM
 #5

I think once a reputable member have verified your location and your suggested rates, you might find that people might be more interested. Something has to be done to make it more profitable for the

small guys to operate in this scene, and to compete with the subsidized electricity in China. If everything goes on like it's going now, all mining will be done in China soon. Good luck with your project,

and I hope this gets traction soon. The community needs more people who can make a real difference in the mining scene.  Grin

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MinerLogic
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February 27, 2016, 02:07:50 AM
 #6

I appreciate the feedback.  It sounds like I'll have to connect with a reputable member before going further with this.  I'll work on this and keep everyone posted.
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