Mining Farm

[Bitcol]

Hello
I am going to travel to China and I am evaluating the possibility of buying equipment and installing a mining farm there with a partner from that country. One of the things that favors my decision is how cheap energy is in China, especially hydroelectric. I wanted to know what recommendation you have about which place is best to install a mining farm there.

 Thanks

[Reatim]

Hello
I am going to travel to China and I am evaluating the possibility of buying equipment and installing a mining farm there with a partner from that country. One of the things that favors my decision is how cheap energy is in China, especially hydroelectric. I wanted to know what recommendation you have about which place is best to install a mining farm there.

 Thanks

Beijing is like the center of commerce in China. Its like the Financial District or the Wall Street of China. So I don't think that is the best place to put up a mining farm.

So its looks like the best place is Sichuan simply because its a province. More space to build your mining farm plus you are away from a lot of people and less complains about the noise being generated. And electricity is much cheaper in Chinese provinces. I also read that Inner Mongolia is only a good choice, but I don't know how far that is, or how familiar you Chinese partners with that place.

Note: Bitmain's bitcoin and other altcoins mining farm is located in Inner Mongolia.

[davis196]

I find it strange that cryptocurrency exchange platforms and ICOs are banned in China,but cryptocurrency mining isn`t banned.I think that sooner or later,the chinese authorities will ban mining as well,becasue it consumes electricity that can be used for the chinese industry.You have to be carefull with your chinese partners.I `ve seen many horror stories about foreign investors being scammed in China.

[kinges]

If you want, I have some legal resource in China.
about 0.27 rmb/kwh


PM me your number, i will call you.

[jhdscript]

Bitcoin is allowed in china ?

[dillpicklechips]

~snip~

It tend to be that way. Electricity cost in urbanized area (not just the capital) is more expensive than in province due to high demand. I suggest to pick a location in Northern China with high altitude for a colder environment.

I find it strange that cryptocurrency exchange platforms and ICOs are banned in China,but cryptocurrency mining isn`t banned.I think that sooner or later,the chinese authorities will ban mining as well,becasue it consumes electricity that can be used for the chinese industry.

China is banning the development of shitty coins which is a good thing since most of them are scammers with their rich-quick schemes. Most of them abandons their coin after they garnered a lot of money in their ICO and dumps. Also, China won't do that and, as far as I know, they don't have problem with the supply of electricity. Also, they are paying those bills so the government will not intervene with the customer's usage.

You have to be carefull with your chinese partners.I `ve seen many horror stories about foreign investors being scammed in China.

I think being a scammer has no connection with your race. Being a scammer roots to your morality and principles so basically if you are not instilled with virtues then most likely you will fall in the bad side. You should always be careful especially when a deal involves a significant amount of money.

I thought btc is forbidden in china.. So it doesn't illegal in there ?

It is not! They ban ICOs and not Bitcoin. Better check your sources.

[KingScorpio]

Hello
I am going to travel to China and I am evaluating the possibility of buying equipment and installing a mining farm there with a partner from that country. One of the things that favors my decision is how cheap energy is in China, especially hydroelectric. I wanted to know what recommendation you have about which place is best to install a mining farm there.

 Thanks

i would not mine in china, the infrastructure density, the corruption, the disparity between poor and rich in the total country,

[Bitcol]

Thanks for information

I just read about the measures that are taking in China on bitcoin. The consumption of electricity that is demanded by bitcoin is very high, and the lack of legislation in force has meant that provinces like Sichuan are evaluating the possibility of finishing some mining farms. The miners are consulting in countries such as Russia, the United States and Vietnam to move their mining farms.

What information do you have about this?

[Mevz]

There are so many countries in ASIA.. why pick china? I'm not underestimating all the chinese but only a few of them can speak in english so i think its hard for you to find a partner for your plan. Its only my opinion goodluck for you.

[Jake052478]

Mining I guess is allowed in China, what they banned is the exchange of bitcoins.  So, if it is not allowed there, they can always exchange it with their nearby country like Hongkong or Taiwan.  They can even seek other countries to do it for them so they may have banned the exchange or transaction but mining I guess is still legal...

[arpon11]

Hello
I am going to travel to China and I am evaluating the possibility of buying equipment and installing a mining farm there with a partner from that country. One of the things that favors my decision is how cheap energy is in China, especially hydroelectric. I wanted to know what recommendation you have about which place is best to install a mining farm there.

 Thanks

This a very good decisions you have making but I will advise you to study the current regulations China has made and you should not just go there before finding out that Chinese government has banned cryptocurrency activities. I have been following many issues affecting China decision on bitcoin and one thing I have find out is that China government mean what ever the have said about bitcoin and altcoins banned.

[Kakmakr]

I do not think it is a good idea to strengthen mining centralization to fund a Bitcoin mine in China. The Chinese government is also clamping down on Bitcoin and jumping from one ban to the other. <Most exchanges there has been shut down or over regulated and ICO's has been banned>

There are other countries with cheaper electricity and colder temperatures that are welcoming your business. Do some more research, before you make your final decision. ^smile^ 

[Angeloks]

Why not

[Colorblind]

With all due respect to fellow miners simply buying and holding BTC was by far much more profitable then investing into ASICs. Industrial mining requires investments in support, cooling, guaranteed supply of electricity, maintenance and replacement of broken units, etc etc. Those investments could pay off at some point, but simply buying BTC's (or create a portfolio of coins to diversify risks) with that money will likely to give you much more revenue.

[CyberKuro]

With all due respect to fellow miners simply buying and holding BTC was by far much more profitable then investing into ASICs. Industrial mining requires investments in support, cooling, guaranteed supply of electricity, maintenance and replacement of broken units, etc etc. Those investments could pay off at some point, but simply buying BTC's (or create a portfolio of coins to diversify risks) with that money will likely to give you much more revenue.

It's important for hashrate spread widely around the world, more mining farms in many different continents as the preventive in case of something bad occurs, such as before when China crackdown exchanges and fud news cause panic selling. Bitcoin miners are making nearly $7 million a day, it's a good investment for the long term as long as you have more than 1 ASIC and pay low cost of electricity.
For OP, if you want to purchase ASICs in China, why won't you make a mining farm in your country? How much it cost for the electricity in your country?
You have to overwatch the mining farm everyday, that's why it's better to build it at nearby places in your city. Most of the China’s hydro power plants are located in the southern provinces of Hubei, Hunan, Sichuan and Guizhou. So, I would recommend in Sichuan.

[Eshishkin]

Dear members.
I'm from Russia and we got the government making the law for mining and ICO in june 2018 for legalization and taxes.
And the price for electricity in Moscow region you can find 2-3 rubles it's 3,5-5,1 cents USD.
If you go deep in country there are prices 1 ruble for kWt - it's 1,7 cents!!!
And nowadays many big corporations in my country with factories and stocks, with a lot of electricity are rebuilding them in mining parks.
So for our economics I see it's a very good view in future because a lot of investors are coming here who wants the efficient and legal mining.

[Bitcol]

Dear members.
I'm from Russia and we got the government making the law for mining and ICO in june 2018 for legalization and taxes.
And the price for electricity in Moscow region you can find 2-3 rubles it's 3,5-5,1 cents USD.
If you go deep in country there are prices 1 ruble for kWt - it's 1,7 cents!!!
And nowadays many big corporations in my country with factories and stocks, with a lot of electricity are rebuilding them in mining parks.
So for our economics I see it's a very good view in future because a lot of investors are coming here who wants the efficient and legal mining.

I read about this. I am trying to get more information about what recently the Russian Association of Blockchain and Cryptocurrency (RACIB) said about the best places for minining bitcoins there .. They recommend mainly the Krasnoyarsk Territory for mining with a cost of electricity of 4 cents usd, good routes and communications. The other place in Russia that interests me is the island of Russki, Genesis Engineering is going to build a farm there but I have not found much information about that place.

The cost of electricity in my country is around 0.15 to 0.20 cents. It is expensive.

[Cubanlinx81]

Some small towns in Japanese are trying to attract mining farms; and even providing subsidies, as a way to help revitalize the declining populations in those areas. I am seriouly thinking about making such a move.

[Colorblind]

Dear members.
I'm from Russia and we got the government making the law for mining and ICO in june 2018 for legalization and taxes.
And the price for electricity in Moscow region you can find 2-3 rubles it's 3,5-5,1 cents USD.
If you go deep in country there are prices 1 ruble for kWt - it's 1,7 cents!!!
And nowadays many big corporations in my country with factories and stocks, with a lot of electricity are rebuilding them in mining parks.
So for our economics I see it's a very good view in future because a lot of investors are coming here who wants the efficient and legal mining.

I was reading a lot about that matter. Currently legal status of crypto in Russia is not defined at all. There are notions to regulate crypto but those notions are stagnant (as far as I know deadline for legislation proposal was set to October 2017 but later postponed to summer 2018).
Mining equipment is not listed in any registers and legally speaking have as much value as tokens (zero value to be precise).
Electricity is cheap for individual but for people who buying in bulk it's much more expensive (2x-3x).
Overall this means that you may consider building a mining farm (for example somewhere in far east of Russia, close to China to cut logistics of ASIC's) but you should also consider hiring an armed guard to protect it since there is nothing law will do to help you, probably not even in 2018 at the very least.

As for the big corporations building "mining parks" - they not big and what you call parks are individual efforts from irresponsible people praying on "free" electricity. Those are spreading like a plague, but I believe Russia isn't the only country where this business "model" is popular.

[Eshishkin]

Colorblind
I cannot agree with you because my marketing team already has 2 miningparks in clients.
Both of them are near Moscow.
First is big factory in Pushkino (20 km from Moscow) with 54000 sq.meters and max electricity up to 100 mWt!!!
Right now we are building pilot project with them for 2000 meters and 10 mWt.
And these guys are very closely connected to government. Very very close )))
And second project is in Kaluga (about 100 km from Moscow), there are greenhouses and cheapest price for electricity, that company can get from government - 1,7 cents.
And about 3 new projects came to us only on this week!
So we got really big mining boom in Russia.
Analytics says that about 15% of all mining power will come to Russia in 2018.
Hundreds of old factories are dreaming to revive by this opportunity.