8 MW Mining farm in NE Pennsylvania

[sonic_hedgehog]

i am setting up a new bitming farm in NE Pennsylvan area in a 20,000 sq foot building. We are currently running just 100 KW of ASIC's but plan to increase up to 8MW by adding cloud mining service.

I don't really have time to figure out how to setup a website and transaction management system - I am wondering if anyone has experience with setting up their own service and can either license a website for us to use or build one under contract? Priority is to offer the service for bitcoin mining only but we can later add Altcoins since the cost of electricity and average seasonal temps are so attractive.

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[fanatic26]

You dont want to sell hash rate contracts within the USA. They are considered securities and will get you in a lot of trouble.

[legendster]

You dont want to sell hash rate contracts within the USA. They are considered securities and will get you in a lot of trouble.

On top of that people will just label you as ponzi scams - like so many other cloud minning companies before you.

[sahil1301]

You dont want to sell hash rate contracts within the USA. They are considered securities and will get you in a lot of trouble.

On top of that people will just label you as ponzi scams - like so many other cloud minning companies before you.

I totally agree with you mate. Several sites like these collapsed in the past

[sonic_hedgehog]

You dont want to sell hash rate contracts within the USA. They are considered securities and will get you in a lot of trouble.

Good point. I was not aware of that. We were not planning to structure it on a hash rate basis anyway. It would be more interesting to simply lease a server for a setup fee + monthly overhead. The user can decide which mining  pool to join and which machine to lease.

[STT]

You plan to arbitrage a benefit from a good source of power the land and infrastructure I guess.   Seems smart to me and perfectly reasonable if the numbers are working for you.   I was wondering wheres the cheap power in Pennsylvania, shale gas fracking is a big deal out there I guess.

[thetractor666]

You should keep it low profile and mining for yourself, this type of projects in usa can be troublesome

[bitcoi]

i am setting up a new bitming farm in NE Pennsylvan area in a 20,000 sq foot building. We are currently running just 100 KW of ASIC's but plan to increase up to 8MW by adding cloud mining service.

I don't really have time to figure out how to setup a website and transaction management system - I am wondering if anyone has experience with setting up their own service and can either license a website for us to use or build one under contract? Priority is to offer the service for bitcoin mining only but we can later add Altcoins since the cost of electricity and average seasonal temps are so attractive.

I have sent you a PM, please tell me if you are interested

[sonic_hedgehog]

You plan to arbitrage a benefit from a good source of power the land and infrastructure I guess.   Seems smart to me and perfectly reasonable if the numbers are working for you.   I was wondering wheres the cheap power in Pennsylvania, shale gas fracking is a big deal out there.

We go through a broker. Once you get into the wholesale electric market rates go down sharply.  To give you an idea our fixed rate is 8.2 c/KWh  which goes down to 5.8 c/KWh once you get to 2MW or higher demand. A couple of years ago I look at a industrial building in Buffalo NY that was buying power at 4c /KWh from Niagara Hydroelectric. Too bad did not buy that one!.

[mgoz]

I was wondering wheres the cheap power in Pennsylvania, shale gas fracking is a big deal out there I guess.

I live where they've been fracking for years and it's around $0.16 kWh for residential. Most of the gas is being liquified for export to higher paying countries where they have 20-year deals locked in.

[STT]

Yes I can confirm thats the case, I will be receiving some of that gas 5000 miles away.  Not personally but our economy needs it as we get high costs 20c or higher; otherwise the alternate is Russia and they hold countries hostage in winter by this gas supply, its not exactly secure.    USA had an energy export ban in place for decades ?   Pretty sure this is a brand new thing but in job terms a positive I guess