$2 million+ bitcoin mining facility launched in Iceland

[marcus_of_augustus]

REYKJAVIK, ICELAND, December 23, 2013 -- DataCell, Inc. (www.datacell.com) -- In response to huge demands from the Bitcoin mining industry, DataCell is pleased to announce the forthcoming launch of a dedicated facility based in Iceland. Our new co-location facility, planned for completion in early 2014, will offer miners by far the highest power density and rack space utilisation in use of any provider. With electricity prices less than half the price of central Europe and easier cooling Iceland is the perfect place for mining.

Wow, yet another prediction comes to fruition. Iceland is going to a major bitcoin mine for the world ... weird yet logical.

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[davedx]

It's just waiting for a quantum computer that will render all mining farms useless and that will mine every bitcoin left in a small amount of time.

Bitcoin is resilient to quantum computing.
And quantum computing is currently an unproven fantasy anyway.

Hardly. There have been big steps forward lately: http://www.independent.co.uk/life-style/gadgets-and-tech/breakthrough-in-quantum-computing-smashes-previous-records-8941862.html

Also: Bitcoin being "resilient to quantum computing": Citation needed

[Sheldor333]

Like always people with money have advantage over others. Nothing special there.

[jthudgens]

Wow that facility is one beautiful work of art. Iceland is indeed a land of opportunity. I am green with envy & full of hope. 

[Enira]

They'll barely get a ROI given that the difficulty will soon rise again. Would have been better to just buy $2 million of coins from an investor.

i agree

For every Amazon item you buy there has to be a Chinese/child labour manufacturer, a transport service and a website host to host the Amazon website.

Guess which one makes the most profit? Don't judge people to take the decision to be the web host / transport / manufacturer. We can't all be Amazon, then we would be selling vaporized air and promises.

It's perfectly sane if you have a low amount of money to burn on Bitcoin to just buy and hodl. But some investors should mine before we can actually spend a single Bitcoin, else our virtual account balance would just be sitting there in the dwellings of Cryptsy.

[technocoma]

Interesting read thanks

[smashpt]

Interesting topic and notice aswell. Thanks for share!

[ThorinIceland]

This icelandic company is also hosting a few clusters: advania.com/datacenters

[BitChrisUK]

They'll barely get a ROI given that the difficulty will soon rise again. Would have been better to just buy $2 million of coins from an investor.

Your comment would suggest that buying mining power is in no ways profitable if a extremely intelligent and rich man buying the latest state of the art equipment which uses cheap power and requires low heating costs can not accomplish this?

[Sonny]

They'll barely get a ROI given that the difficulty will soon rise again. Would have been better to just buy $2 million of coins from an investor.

Well, at least with the computers (GPU mining, I assume), he can switch to mine scrypt-based coins and sell it for bitcoin.