My Bitcoin mining farm under construction

[RichestLizza]

This mining farm is located in Inner Mongolia, China.  The first two 2-floor building will be ready in next month and the power supply will be 10000 kW. In the beginning of next year we will build 7 builds and total power consumption will be 50000 kWh.

https://imgur.com/SyCK1Ep
https://imgur.com/htG80iC
https://imgur.com/0IV3CyN
https://imgur.com/e3Xivs6
https://imgur.com/mk8U604
https://imgur.com/wJ8KBso
https://imgur.com/DKHuCMc

[BitcoinMiningAustria]

Awesome, what kw price do you get over there, and how did you got the money for it investors ?

What about the mining ? Do you use antminers ?  How many ?

[RichestLizza]

The price I got from the power grid is about 0.3 CNY/kWh. The other two shareholder are my old friends. We started buying Bitcoin from 2013/2014. So we earned enough money to build this farm.

In next month we can host about 6000 miners. Only hundreds are owned by myself. My main purpose is to provide hosting service and cloud mining.

Now I have 600 L3+ and 200 S9 running. It's located in a discarded factory at the same town, which is temporary.


This is my "Introduce yourself" post on steemit.com. https://steemit.com/introduceyourself/@somebody/sabydee-grettings-from-laos

Last year I invested 54 BTC (valued 300 kUSD now) on Steem. Now it's only 34k.

[Upstream]

Is your power hydro electricity or coal based?

[RichestLizza]

How did you manage to agree with the authorities?
It was hard to get permission?

Yes. We registered a project company at the county. We signed investment agreement with the local government, finished  Feasibility Study Report, Environmental Assessment Report， Safety Production Assessment Report， etc. Many documents, many approvals, and costs.

We also purchased the land from the government, 50 years right of use. Totally about 13000 square meters.

The governor and officials visiting my farm: https://imgur.com/w76WryK.

Is your power hydro electricity or coal based?

It's using power from the power grid, not particularly hydro or coal.  So it's more stable than hydro, no need to migrate at dry seasons.

Inner Mongolia province has lots of installed capacity, including coal, wind and solar.

We construct a 10kV transmission line from the 4km far substation.

If i can ask whats ur estimated hashing power

End of year it will be 100P and next year 500P.


Photos took this morning.

https://imgur.com/LflRsKR
https://imgur.com/tN0uOz5
https://imgur.com/9hRp2PC
https://imgur.com/a7a8SCD
https://imgur.com/e2vwX33

[PandaminerScam]

The operator of this farm is experiencing bad construction delays and is defaulting on the cloud mining contract that is suppose to start paying on Nov 1st!

He sold 2 million dollars worth of cloud contracts in September, now it is end of Oct and he is not paying the mining contracts because of construction delays. The contract actually says the investors will receive bitcoin regardless of lose of power, construction delays, break down of equipments etc...

Stay away from him. You will lose money.

[RichestLizza]

The operator of this farm is experiencing bad construction delays and is defaulting on the cloud mining contract that is suppose to start paying on Nov 1st!

He sold 2 million dollars worth of cloud contracts in September, now it is end of Oct and he is not paying the mining contracts because of construction delays. The contract actually says the investors will receive bitcoin regardless of lose of power, construction delays, break down of equipments etc...

Stay away from him. You will lose money.

Do I know you?  show you evidence please.

[PandaminerScam]

Do I know you?  show you evidence please.

Why don't you post your cloud mining contract here? Oh wait, you took the money, asked your clients to sign the contract digitally and have not sent the contract back to them because you can't honor the contract?

Why don't you actually honor the contract and start paying people as advertised on November 1st 2017!

Show you evidence? Which statement I am making is false? You have not sold a contract? Your contact does not start in November 1st? You are going to pay on November 1st? Please prove I am BULLSHITTING.

[RichestLizza]

Why don't you post your cloud mining contract here? Oh wait, you took the money, asked your clients to sign the contract digitally and have not sent the contract back to them because you can't honor the contract?

Why don't you actually honor the contract and start paying people as advertised on November 1st 2017!

Show you evidence? Which statement I am making is false? You have not sold a contract? Your contact does not start in November 1st? You are going to pay on November 1st? Please prove I am BULLSHITTING.

I sold first batch of cloud mining contract on August 30. For some reasons I couldn't order miners from Bitmain and after about ten days I stop trying negotiate with Bitmain and returned the money back to clients ( Some clients choose to wait for next batch miners).

Then on Sep 19 I sold the 2nd batch contracts after I confirmed order with Bitmain. These miners will be shipped between Nov 10 to Nov 20 from Bitmain. It takes about one week to ship from Shenzheng factory to our farm. In the contract we promised to start mining in two weeks after we receive the miners. I never sold contracts that start paying from Nov 1st.

Yes it's true that I didn't send the contracts to the clients yet. It will be done in next week. I explained that in the wechat group.

I don't know if you purchased my cloud mining contracts or not. If you feel worried I can purchase back you hashrate according to the market price now. I think you know how to contact me.

Now we are working day and night to accelerate the construction. It's never not easy to run a business like this.

Working last night:

https://imgur.com/nlEP3Up
https://imgur.com/eijRddN

Steel structures arrived this morning: https://imgur.com/eijRddN

Here is the contract:

https://imgur.com/S2WwEdC
https://imgur.com/oJVLgR5
https://imgur.com/nsOMIE5
https://imgur.com/8OXskbv
https://imgur.com/KO9Me08
https://imgur.com/0Pajj4C

[PandaminerScam]

... Here is the contract:

https://imgur.com/S2WwEdC
https://imgur.com/oJVLgR5
https://imgur.com/nsOMIE5
https://imgur.com/8OXskbv
https://imgur.com/KO9Me08
https://imgur.com/0Pajj4C

Yep that's the round two contract, there is a round one contract as well which s9 machines arrives in the first week of Nov right?

[RichestLizza]

Yep that's the round two contract, there is a round one contract as well which s9 machines arrives in the first week of Nov right?

Yes. We wanted to order S9 shipping from Nov. 1st to Nov. 10th. From Shenzhen to Inner Mongolia needs about one week. And In the contract we promised to start mining in two weeks after we receive the miners. So it's now start paying from Nov. 1st.

Moreover, that contract was canceled and I returned the money back to clients.


Update afternoon Oct 28:

https://imgur.com/c3Q430A

[Bombardier]

Update afternoon Oct 28:

https://imgur.com/c3Q430A

are you worried about this: https://news.bitcoin.com/japans-gmo-7nm-bitcoin-mining-boards-token-sale/

what is your opinion?

[RichestLizza]

are you worried about this: https://news.bitcoin.com/japans-gmo-7nm-bitcoin-mining-boards-token-sale/

what is your opinion?

That's just an ICO. I'm not confident that 7nm will come out next year.


Update Oct 30:

https://imgur.com/w6jhsfV
https://imgur.com/p36ayga

[goldchain]

OP, is it legal to build Bitcoin mining farm, especially inside China? I heard that China government just tracked and shut down several Bitcoin mining farms recently.

Anyway, I wish you all the best with this project.

PS: Love your long term vision and hope everything turns out well 

[RichestLizza]

OP, is it legal to build Bitcoin mining farm, especially inside China? I heard that China government just tracked and shut down several Bitcoin mining farms recently.

Anyway, I wish you all the best with this project.

PS: Love your long term vision and hope everything turns out well  

The Chinese government defines Bitcoin as "digital commodity". It's legal to hold, buy, sell or produce such "digital commodity".

The reason that the government call stop ICOs and shutdown the exchanges is there are two many cheating, manipulating the market, etc.

So it's total legal to build and operating mining farms in China.

[PandaminerScam]

Yes. We wanted to order S9 shipping from Nov. 1st to Nov. 10th. From Shenzhen to Inner Mongolia needs about one week. And In the contract we promised to start mining in two weeks after we receive the miners. So it's now start paying from Nov. 1st.

Moreover, that contract was canceled and I returned the money back to clients.

Thank you for admitting that you have defaulted on the contract. Cancelling the contract is not acceptable as there were no terms in there that allows you to do one way cancellation. When you sign a cloud mining agreement with your client, you must carry out the terms no matter what!

Your clients and I (indirectly) have lost a lot of profit that we could have made if you actually honored the contract.

[Ronin87]

Uff. This is serious even if you gave the money back. The opportunity cost can be skyhigh for the clients that signed the first contract which was one-sidedly revoked.

[RichestLizza]

Update Nov 1st:

https://imgur.com/ds4nCif

[Upstream]

... The most tough thing is drinking. People from Inner Mongolia like drink just as Russians.

Haha, dealing with drunk construction workers can't be fun.

[Bombardier]

It's not easy. You need to get many approvals, reports. Everything costs.

The most tough thing is drinking. People from Inner Mongolia like drink just as Russians.

Have you encountered the drinking issue when trying to get approvals, reports, docs or just with construction workers ?