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Author Topic: Building Canada's Largest Bitcoin Mine  (Read 97575 times)
GreatNorthData
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June 15, 2016, 01:57:48 PM
 #1

As promised, we'll post some pictures as we put this together over the next few months. I'll return to this thread when I have more to show. It has been a long road since we started mining in 2013 as Great North Data. (We'd been dabbling since early 2012 with GPUs) Lots of competition has followed us to the Big Land (that's what the locals call Labrador) and we're happy to bring such a great industry to an area that needs economic diversity and investment.

The hardest parts about building this bitcoin mine so far have been:
  • satisfying the utility (they are a not-for-profit government-owned corporation so there's lots of bureaucracy involved - many more hoops to jump through than required by for-profit utility companies in other locations) and
  • meeting various code requirements. Everything needs to be CSA approved and meet the requirements of the utility. We have all seen photos of fires caused by poor electrical work, but following the rules will mitigate those risks.

In our location (Labrador) if you want a large amount of power you'll have to take it at a very high voltage. As such you'll notice our transformers are a bit larger than most.


Our main indoor dry type transformer - the panel is off as the the final tests are being conducted to ensure all the connections are good.


I'm calling this one Big Bertha. This is our main oil-filled outdoor unit that will link into the utility's grid. We have some smaller service connections to the grid (to run lights, HVAC, monitoring equipment, 120v uses etc.), but this one will power all of the miners.


The power goes through the top and into our underground conduit that feeds into the centre of the building.


Just to give you some perspective on how massive this transformer is - 14 feet high and 40,000 pounds.


A construction selfie from when we were gutting the building over the winter. It's now a shell, just walls, a floor and a roof. The indoor transformers will be crane lifted into the building at which point we can start putting it back together.


When in Quebec I recommend the food. The local cuisine is heart attack inducing.


Breakfast of champions: smoked meat eggs benedict. (The fruit is just to make it appear potentially healthy.)

We have a lot going on and I'll continue to post over the next few weeks and months.

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June 15, 2016, 02:03:21 PM
 #2

This looks like it will be something great.
I wish you good luck and post some more pictures to us when you can.

I love watching mines.

Good luck 💜

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June 15, 2016, 07:27:43 PM
 #3

Now the real question is. If they're moving into a bigger building, I'm curious as to how many miners they have hashing.

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GreatNorthData
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June 15, 2016, 08:05:32 PM
 #4

Now the real question is. If they're moving into a bigger building, I'm curious as to how many miners they have hashing.

We're a hosting operation, so that's a better question for other people. We have mined, and do mine ourselves on occasion, but at this point we're 99% about hosting. That being said, between Labrador City and Goose Bay (expanding in the fall) we'll be well north of 50PH by December.

The way we see it, you should always focus on your strength - the jack of all trades, master of none never gets far. We can host - other people fly to china (or elsewhere) and know where to pick up new and used miners on the cheap, and then send them to us.

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June 15, 2016, 09:10:47 PM
 #5

So my question of aiming at your goal, are you trying to compete with bitmains mining pool comes to question lol.

Its only natural or are you aiming to grab every US based and canadian residents to go with you guys since you`ll eventually be a marketshare in bitmains eyes as a competitor.

Or is this all private shut off from the public and for private inquires based on private companies.

Edit: Just glazed over the the part where youre 99% hosting scenario.


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June 16, 2016, 07:39:31 AM
 #6

I hope the speed of building your mining site is fast enough to compete with those in China... I heard those mining sites in China can be built within a few weeks, and even before the cement is dried they have already started hashing. Safety is never their first priority- Speed is!

However, glad to see a very well build facility and hope to see more pictures from you!

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June 16, 2016, 11:51:28 AM
 #7

You are doing a great job! Thanks for the interesting read and pics! You include even breakfast Smiley, and that's nice. The more pics the better. It's very interesting to follow the creation of the Canada's Largest Bitcoin Mine. Waiting for the update, and good luck!

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June 16, 2016, 12:31:22 PM
 #8

I hope the speed of building your mining site is fast enough to compete with those in China... I heard those mining sites in China can be built within a few weeks, and even before the cement is dried they have already started hashing. Safety is never their first priority- Speed is!

However, glad to see a very well build facility and hope to see more pictures from you!

You're right - we cannot compete with Chinese speed. Engineering, planning, permitting and other "preliminary" work takes well over six months - only then can you start work. However, we're getting close to being up and running.

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June 16, 2016, 09:41:31 PM
 #9

This must have cost you a fortune to set up in it's current form and the maintenance costs are going to be pretty high as well.
I hope you'll be able to get a decent profit from it once you've got everything running, I wish you good luck!

Keep us posted, very interesting thread Smiley

And it would be awesome if you could post some earnings once you've got it running,  if you don't mind sharing that.


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June 18, 2016, 09:00:52 PM
 #10

Nice setup, /me taking notes  Wink

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June 19, 2016, 10:38:06 AM
 #11

Looks like a serious setup.

Can i ask what size of main incoming supply you have and what the total kw usage is going to be from all the miners you will have running? Im guessing your transformer is breaking down your supply into 3 phase and then stepping down each phase to 110v?.  Also are you doing anything with the excess heat that will be built up or just letting it ventilate out of the warehouse?

Looking good either way.

Also if you dont mind can you give us a ball park figure of what you will be paying per kw/h?

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June 19, 2016, 01:59:24 PM
 #12

good job sir. Smiley




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GreatNorthData
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June 19, 2016, 04:05:39 PM
 #13

Looks like a serious setup.

Can i ask what size of main incoming supply you have and what the total kw usage is going to be from all the miners you will have running? Im guessing your transformer is breaking down your supply into 3 phase and then stepping down each phase to 110v?.  Also are you doing anything with the excess heat that will be built up or just letting it ventilate out of the warehouse?

Looking good either way.

Also if you dont mind can you give us a ball park figure of what you will be paying per kw/h?

Those two transformers only get us doing to 600v, there's a further transformer for each set of racks. 110v is far too low for miners, 208v is usually the minimum. This facility will start around 5MW, but there is a capability for expansion.

The excess heat gets vented into our parking lot - which is great when you operate in a climate that sees 12 feet of snow a winter.

A rate that makes us competitive with China. However - the price of oil dictates the price of the Canadian dollar, so our "effective" rate versus what clients pay swings wildly with the global economy.

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June 28, 2016, 10:05:59 AM
 #14

~

The excess heat gets vented into our parking lot - which is great when you operate in a climate that sees 12 feet of snow a winter.

~

Unfortunately it's not a winter now because it's very interesting to see how it really affects your parking lot. I mean I think if it's not a bit elevated there should be a lot of water on it. I'm not sure though, maybe I see it the wrong way.

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June 28, 2016, 10:16:24 AM
 #15

Will you offer and Cloud Mining Services? Smiley

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June 28, 2016, 12:22:16 PM
 #16

Wish you all the best for this project. How many investors you have received so far and its total investment. Have you plan out the ROI and all the profits and other ratios to start with?
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June 28, 2016, 09:01:17 PM
 #17

Wish you all the best for this project. How many investors you have received so far and its total investment. Have you plan out the ROI and all the profits and other ratios to start with?

This is an industry that is still in a "race to the bottom" for efficiency, so it is all about scale. There's only five or so regions in the world competitive enough that you can do this and expect to ROI - which is obviously the goal. There's four of us who started the company but we raised private equity as well. We also received government backing for the project which has made the process smoother.

ROI? This is a risky endeavour - it's more like a real estate investment than a miner investment in terms of ROI. When you buy a miner you want to be at even before the end of the year, maybe sooner. Where this is an infrastructure investment the payoff is over several years.

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June 28, 2016, 09:22:26 PM
 #18

Will you offer and Cloud Mining Services? Smiley

Nope - not in our wheel house so to speak.

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June 28, 2016, 10:56:02 PM
 #19

We have exchanged emails  and never really got far enough into what we can do in terms of rates.

I have access to very cheap power via my deal with buy solar and his solar array.

https://bitcointalk.org/index.php?topic=1369207.0

he is local  less then 3 miles from me.  but we have a power cap and we will most likely stop at six until for the summer  5 s-9's and 1 s-7 .


So I would like to get info on 10 s-9's at your place.

Say they are set at freq 575 do 12.5 th and burn 1250 watts each

this is  12.5 kwatts per hour or 300 kwatts  a day or 9000 kwatts a month.

Lets say I provide the psu's  I drop ship 10 s-9's and 10 antminer psu's

 I provide 3 pools for the guy and your people set the 10 up.
 I would expect a 1 time setup fee and then a monthly charge.

So  could you provide info on this thread for a

 5 unit  s-9 package
10 unit s-9 package
25 unit s-9 package

I may try to do a group buy for this and being able to quote fees on your part could help a lot.

I posted a thread in group buys.

https://bitcointalk.org/index.php?topic=1530306.new#new

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June 28, 2016, 11:54:10 PM
 #20

The rate really depends on the size - while we've made an exception for Bitmain's S9 5 maximum order - we typically do not host below 10kw accounts. Our rate for S9s starts at $57/kw - and my information says you'll be running them closer to 1.45kw each given price and difficulty.

A better bet would be to see how many people you get interested - and then play us off CryptoBoreas for the best rate. (I don't think anyone else in the hosting market can compete with the Canadian operations these days.)

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