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Two4D (OP)
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June 22, 2014, 09:50:43 AM
Last edit: June 22, 2014, 11:28:39 AM by Two4D |
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Hello  I have a question about building a huge mining farm operation. What country would be the best to open a company for a big mining operation? Where I am located, everything is too complicated they want to know for every $ you have, and is one of the most corrupted countries. Maybe it would be good for just hosting miners, but most definitely not for company to be located here. Also please exclude electricity cost as it would be purley solar and wind powered. So...any comment in this direction is highly appreciated. |
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abacus
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June 22, 2014, 11:25:17 AM |
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I'm not able to tell you which country is the best one but the first thing I would check is how much the electricity does cost there.
Without that information (among others), you can't really have an idea about the profitability of your project.
PS: This topic fits best in the Mining>Speculation section: you can also have better chances of good responses if you move your thread there.
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Two4D (OP)
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June 22, 2014, 11:29:06 AM |
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I'm not able to tell you which country is the best one but the first thing I would check is how much the electricity does cost there.
Without that information (among others), you can't really have an idea about the profitability of your project.
PS: This topic fits best in the Mining>Speculation section: you can also have better chances of good responses if you move your thread there.
Sorry, I forgot to mention that farm would be solar and wind powered. |
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abacus
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June 22, 2014, 11:42:48 AM |
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Sorry, I forgot to mention that farm would be solar and wind powered.
Nice project then, good luck with it. While waiting for someone with some goods hint about right countries, if you care to share some more data, like for example what are you going to use to store the energy, it would be an interesting matter. |
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Two4D (OP)
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June 22, 2014, 11:54:41 AM |
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Sorry, I forgot to mention that farm would be solar and wind powered.
Nice project then, good luck with it. While waiting for someone with some goods hint about right countries, if you care to share some more data, like for example what are you going to use to store the energy, it would be an interesting matter. Thank you, well this project is basically nowhere yet. I just have a really awesome ideas that I cant really talk about, but that would be the biggest project I would ever work on and I dont even know where and how to start. |
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impulsecorp
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June 23, 2014, 02:33:57 AM |
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Are you going to move to the country where you start this new company? Also, if it is going to be solar/wind powered, doesn't that greatly limit the locations where you can do it? Also, I don't know a lot about mining, but I would guess if you buy something like http://www.solarminer.com or build your own mining equipment powered by alternative energy, it won't be as cutting edge as what is needed to make a profit with mining. Also, keep in mind that in a hot climate the cooling costs for the computers might offset the low cost of the solar power. Using the solar/wind electricity for mining may pay better than selling the electricity, but overall you would really be taking a big risk setting up an alternative energy operation in a country you know nothing about. - Eric |
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hellraven
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June 23, 2014, 02:54:36 AM |
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Are you going to move to the country where you start this new company? Also, if it is going to be solar/wind powered, doesn't that greatly limit the locations where you can do it? Also, I don't know a lot about mining, but I would guess if you buy something like http://www.solarminer.com or build your own mining equipment powered by alternative energy, it won't be as cutting edge as what is needed to make a profit with mining. Also, keep in mind that in a hot climate the cooling costs for the computers might offset the low cost of the solar power. Using the solar/wind electricity for mining may pay better than selling the electricity, but overall you would really be taking a big risk setting up an alternative energy operation in a country you know nothing about. - Eric to be solar/wind powered, u need some big cash here... u can buy a lot more miners with it maybe the best choice here is "cheap electricity" |
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Two4D (OP)
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June 23, 2014, 04:35:56 PM |
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Are you going to move to the country where you start this new company? Also, if it is going to be solar/wind powered, doesn't that greatly limit the locations where you can do it? Also, I don't know a lot about mining, but I would guess if you buy something like http://www.solarminer.com or build your own mining equipment powered by alternative energy, it won't be as cutting edge as what is needed to make a profit with mining. Also, keep in mind that in a hot climate the cooling costs for the computers might offset the low cost of the solar power. Using the solar/wind electricity for mining may pay better than selling the electricity, but overall you would really be taking a big risk setting up an alternative energy operation in a country you know nothing about. - Eric Hello, thanks for your opinion. The facility could be build in my country, but I am more thinking of opening a company in another country where it would benefit mining much more. I hope that makes sense. |
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