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Author Topic: [2018-07-28] Bitcoin Mining News: Brookstone to Build Wind Farm in Morocco  (Read 51 times)
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July 28, 2018, 11:41:03 AM
 #1

Bitcoin Mining News: Brookstone to Build Wind Farm in Morocco, Québec Increases Rates

In recent mining news, Brookstone Partners has announced its intention to build a 900-megawatt wind farm in Dakhla, Morocco, Hydro-Québec has been given permission to charge cryptocurrency miners increased rates, and DMG has begun installing its 85-megawatt substation in Canada.

https://news.bitcoin.com/bitcoin-mining-news-brookstone-to-build-wind-farm-in-morocco-quebec-increases-rates/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

Large profits from mining urges Quebec charge cryptocurrency miners increased rates?

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July 28, 2018, 06:09:47 PM
 #2

(I moved the post as it is from the other duplicated topic)
First mining farm in Africa? or at least North Africa.
I am a little bit confused, didn't i read somewhere in the past that bitcoin isn't allowed in Morocco?
Anyway, moving to clean energy is always welcome.



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HAS BEEN RELEASED!


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July 28, 2018, 06:13:53 PM
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All of this is just an idea still.

Brookstone Partners is raising capital in order to start building this wind farm, which will take a considerable amount of time. By the time they finally have managed to build the farm (which is by no means a guarantee that it will happen) the difficulty has gone up a lot already, which will eat away a lot of their profits, and then what? Investors have high expectations and thus expect proper returns, because that's why they invest in this industry in the first place.

An idea is worth a buck, for the effort, nothing more.

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July 29, 2018, 07:42:15 AM
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All of this is just an idea still.

Brookstone Partners is raising capital in order to start building this wind farm, which will take a considerable amount of time. By the time they finally have managed to build the farm (which is by no means a guarantee that it will happen) the difficulty has gone up a lot already, which will eat away a lot of their profits, and then what? Investors have high expectations and thus expect proper returns, because that's why they invest in this industry in the first place.

An idea is worth a buck, for the effort, nothing more.

I kinda disagree, Wind farms can be set up quite fast if the land and pre-planning has been done, which I think so has been done in this case. It will take around a year to get it up and running, The Difficulty rise will also make the BTC price to rise too. I believe mining will always remain profitable as more efficient hardware will come along the way and profit to cost ratio will always stay Positive till the last coin is mined.

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July 29, 2018, 01:30:44 PM
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I kinda disagree, Wind farms can be set up quite fast if the land and pre-planning has been done, which I think so has been done in this case.
We can't assume that anything has been done because there have been similar cases where funds have mislead potential investors by tricking them into thinking that legally everything has been set up, while later turns out that nothing has been set up at all. It could very well be that they are waiting for actual capital to come in, and then start up the legal process. We can't take anything for granted here.

The Difficulty rise will also make the BTC price to rise too.
The difficulty doesn't make the price go up. It's price up difficulty up. If the difficulty is going up but the price not, miners (mostly the smaller ones) will eventually pull back their gear and the difficulty will drop.

I believe mining will always remain profitable as more efficient hardware will come along the way and profit to cost ratio will always stay Positive till the last coin is mined.
If you can generate your own energy conveniently, it could always be somewhat profitable, but if you depend on external energy suppliers you can't endlessly mine profit. In that case there is a base price you can't get under.

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July 29, 2018, 04:39:58 PM
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Quote
We can't assume that anything has been done because there have been similar cases where funds have mislead potential investors by tricking them into thinking that legally everything has been set up, while later turns out that nothing has been set up at all. It could very well be that they are waiting for actual capital to come in, and then start up the legal process. We can't take anything for granted here.

True but we don't follow a rule of guilty until proven innocent.

Quote
The difficulty doesn't make the price go up. It's price up difficulty up. If the difficulty is going up but the price not, miners (mostly the smaller ones) will eventually pull back their gear and the difficulty will drop.

True but the stage at which BTC is in, it does. Mostly miners in China can literally call for what kind of profits they want to see. Do you really think when the institutional money starts to flow in, Miners won't be able to charge higher than they demand right now?

Quote
If you can generate your own energy conveniently, it could always be somewhat profitable, but if you depend on external energy suppliers you can't endlessly mine profit. In that case there is a base price you can't get under.

There will always be a country to mine in. Like in India it costs 0.08$ KWH. Unless there is a total ban on cryptos and they lose a significant percentage of their value, Mining won't be unprofitable.

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July 29, 2018, 06:09:04 PM
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Mostly miners in China can literally call for what kind of profits they want to see. Do you really think when the institutional money starts to flow in, Miners won't be able to charge higher than they demand right now?

Miner have been selling their mint at premiums for years. People think they are dumping them on exchanges, but that's false for the most part. It makes no sense to sell something for spot value when you can get 25%'ish above spot by selling to private buyers. We see $8000 as current price, for larger miners it's more like $10,000 per Bitcoin. In other words, the premiums that miners charge are baked in already.

You can't just ask 50% over spot value because your margins are starting to get very tight, private buyers will either decline on the offer or get their coins from other OTC sellers. The coins other OTC sellers offer aren't virgin, but hey, how much does that matter if it saves you a considerable amount of money?

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July 29, 2018, 06:31:29 PM
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Mostly miners in China can literally call for what kind of profits they want to see. Do you really think when the institutional money starts to flow in, Miners won't be able to charge higher than they demand right now?

Miner have been selling their mint at premiums for years. People think they are dumping them on exchanges, but that's false for the most part. It makes no sense to sell something for spot value when you can get 25%'ish above spot by selling to private buyers. We see $8000 as current price, for larger miners it's more like $10,000 per Bitcoin. In other words, the premiums that miners charge are baked in already.

You can't just ask 50% over spot value because your margins are starting to get very tight, private buyers will either decline on the offer or get their coins from other OTC sellers. The coins other OTC sellers offer aren't virgin, but hey, how much does that matter if it saves you a considerable amount of money?


Hmm, I didn't know about that. This is a very interesting chapter in itself. But this proves my point that mining will always be profitable till the end times of mining i.e the last block. There will always be a buyer who is willing to pay the premium.

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July 29, 2018, 07:46:28 PM
 #9

All of this is just an idea still.

Brookstone Partners is raising capital in order to start building this wind farm, which will take a considerable amount of time. By the time they finally have managed to build the farm (which is by no means a guarantee that it will happen) the difficulty has gone up a lot already, which will eat away a lot of their profits, and then what? Investors have high expectations and thus expect proper returns, because that's why they invest in this industry in the first place.

An idea is worth a buck, for the effort, nothing more.

Yeah, its sounds quite speculative. It reminds me a bit of the mindset of 2008-2010. Where I lived, there were massive construction developments everywhere. And just a couple years later, there were unfinished/abandoned construction projects everywhere.

This industry moves too damn quick to be planning for difficulty adjustments this far in advance -- this is apparently a 20-30 year infrastructure investment. And analysts also say the power is intermittent (unlikely to run at full capacity without good luck).

I've seen better investment plans, that's for sure.

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