Crypto Mining - What's Next?

[MaxLevCoin]

Hey everyone. I've been driving into what's happening with crypto mining lately and I can't believe the shift going on in Nigeria, it's honestly wild! The government there has set aside a massive 2GW of energy just for mining, which is turning the country into a hotspot for big operations. They've got several 200MW projects underway including a 150MW hosting center in an industrial park that even comes with tax breaks which is a smart move. I also heard they're teaming up with local power plants to get direct electricity at great rates for only $0.04/kWh. It really feels like Nigeria is stepping up to be a major player in the global crypto mining scene and I'm curious to see if this could be the next go-to spot for miners like us who are always chasing efficiency and lower costs.

What do you all think about this?

[doubletheprof]

NIgeria is for sure the go-to location as of right now, possibly with elphapex innovation we will get some low consumption miners taht can mine two different algos at once too

[Agbe]

Hey everyone. I've been driving into what's happening with crypto mining lately and I can't believe the shift going on in Nigeria, it's honestly wild! The government there has set aside a massive 2GW of energy just for mining, which is turning the country into a hotspot for big operations. They've got several 200MW projects underway including a 150MW hosting center in an industrial park that even comes with tax breaks which is a smart move. I also heard they're teaming up with local power plants to get direct electricity at great rates for only $0.04/kWh. It really feels like Nigeria is stepping up to be a major player in the global crypto mining scene and I'm curious to see if this could be the next go-to spot for miners like us who are always chasing efficiency and lower costs.

What do you all think about this?

Nigeria are enthusiastic about crypto currency and that is reflected in the way and manner that people are farming presale tokens so when they are launched they can make money from it by selling the token that they where able to mine but I will disagree with you on the issue of power Nigeria is still lacking behind in the area of power and it is really affecting all aspects of the economy not just for those in crypto currency sector, especially for those are mining who will need a constant power supply to keep their phones on always the future of crypto currency in Nigeria is bright but power is a problem that needs to be addressed especially for those who are into mining

[Reynaldo]

 I'm actually exploring a unique opportunity there. A good friend of mine operates a solar installation company and has offered to provide reliable power for a mining operation. His setup includes battery storage solutions that maintain consistency during grid fluctuations.

[Cekikafa]

Change the title as Bitcoin mining. Apart from Bitcoin, all others are centralized, fool decentralization pow schemes.

[bias]

I'm actually exploring a unique opportunity there. A good friend of mine operates a solar installation company and has offered to provide reliable power for a mining operation. His setup includes battery storage solutions that maintain consistency during grid fluctuations.

Well, for sure, he isn't the only one who does that, but at least his price will be better than others. However, everything depends on the number of miners, their power consumption, etc., conditions. So, I don't know how "low" your friend can go or how "high" you can. In either case, isn't it some easy-going project unless you are talking about something like a "small type" farm.

[Mekie21]

Crypto Mining in Nigeria is quite promising cause most of the student in the university and others used this as a medium of side hustle, but that of electricity is a big set back to crypto miners. At lest our means of mining is quite affordable not requiring any hardware to do the paperwork just our phone and these phones are meant to stay active. Come to think of it, will the Government provide you electricity when they are fully into the petrol business, if they do their yearly revenue be will poor. For their own selfish interest electricity will still be a set back to miners in Nigeria

[doubletheprof]

I'm actually exploring a unique opportunity there. A good friend of mine operates a solar installation company and has offered to provide reliable power for a mining operation. His setup includes battery storage solutions that maintain consistency during grid fluctuations.

Well, for sure, he isn't the only one who does that, but at least his price will be better than others. However, everything depends on the number of miners, their power consumption, etc., conditions. So, I don't know how "low" your friend can go or how "high" you can. In either case, isn't it some easy-going project unless you are talking about something like a "small type" farm.

GO BIG OR GO HOME!

Nah I think that you can get only a few miners and still remain profitable while using hosting, where they host many other clients with you, which makes it profitable for everyone

[FP91G]

Crypto Mining in Nigeria is quite promising cause most of the student in the university and others used this as a medium of side hustle, but that of electricity is a big set back to crypto miners. At lest our means of mining is quite affordable not requiring any hardware to do the paperwork just our phone and these phones are meant to stay active. Come to think of it, will the Government provide you electricity when they are fully into the petrol business, if they do their yearly revenue be will poor. For their own selfish interest electricity will still be a set back to miners in Nigeria

What does Government provide you electricity mean?
Will the government build new power systems for miners or will they give you limits in locations where it is possible?

[doubletheprof]

Crypto Mining in Nigeria is quite promising cause most of the student in the university and others used this as a medium of side hustle, but that of electricity is a big set back to crypto miners. At lest our means of mining is quite affordable not requiring any hardware to do the paperwork just our phone and these phones are meant to stay active. Come to think of it, will the Government provide you electricity when they are fully into the petrol business, if they do their yearly revenue be will poor. For their own selfish interest electricity will still be a set back to miners in Nigeria

What does Government provide you electricity mean?
Will the government build new power systems for miners or will they give you limits in locations where it is possible?

Just watch Crypto Mining In Nigeria video on youtube from oneminers, tehy show all the power plants and some mining parts, the power plants are apparently government owned, but they produce more electricity, than the whole state can use, so they started a project for crypto miners... 

[bias]

GO BIG OR GO HOME!

Everyone wants to be big, but almost everyone forgets a key factor: The bigger you become, the bigger everything else comes with it.

Nah I think that you can get only a few miners and still remain profitable while using hosting, where they host many other clients with you, which makes it profitable for everyone

I didn't see a mining hosting company with which you can become profitable. They either charge you more than enough, or have limitations that eventually don't lead their clients to an actual profit. Not to mention the issue of clarity, transparency, etc, regarding such sites/ companies.

[nutildah]

Just watch Crypto Mining In Nigeria video on youtube from oneminers, tehy show all the power plants and some mining parts, the power plants are apparently government owned, but they produce more electricity, than the whole state can use, so they started a project for crypto miners... 

Still shilling for a scam eh? Its already been proven that Oneminers is a scam operation. Most of the pictures they use have nothing to do with their own company. Instead they are either stock photos or taken from elsewhere. At least some of their physical locations don't actually exist, and they make up numbers that sound enticing to suckers.

TL;DR: stay away from Oneminers unless you feel like getting scammed.

[doubletheprof]

Just watch Crypto Mining In Nigeria video on youtube from oneminers, tehy show all the power plants and some mining parts, the power plants are apparently government owned, but they produce more electricity, than the whole state can use, so they started a project for crypto miners... 

Still shilling for a scam eh? Its already been proven that Oneminers is a scam operation. Most of the pictures they use have nothing to do with their own company. Instead they are either stock photos or taken from elsewhere. At least some of their physical locations don't actually exist, and they make up numbers that sound enticing to suckers.

TL;DR: stay away from Oneminers unless you feel like getting scammed.

you are either delusional or living in your own reality lmao (or maybe a competitor)

I just said to watch video about nigeria hosting but you can interpret it however you want i guess

for those who are a bit more educated here is what I was talking about

VIDEO: https://youtu.be/GElxotmsFvo?si=EaVFn0WcZ8uMh21m

[nutildah]

you are either delusional or living in your own reality lmao (or maybe a competitor)

The evidence that this is a scam is very well laid out in the thread I linked in my previous post.

I just said to watch video about nigeria hosting but you can interpret it however you want i guess

And how I interpret is these two dudes invested some money in photo ops. They paid some local officials for tours of power plants and whatnot in Nigeria and have yet to provide the slightest bit of evidence that they actually have any intentions of running a crypto mining center there. Its all smoke and mirrors. "Invest" at your own peril.

[bias]

you are either delusional or living in your own reality lmao (or maybe a competitor)

I just said to watch video about nigeria hosting but you can interpret it however you want i guess

Showing two, three people going to a power plant and making visits to different locations with some politicians with their "camera friends", doesn't mean that they have a deal or own something there. Nobody said that they don't visit the place, but there are serious doubts that they own something there. Plus that they mention 3-4 farms in different areas, and I saw only one. At least in the video that you posted.

[Theupdude]

Hey everyone. I've been driving into what's happening with crypto mining lately and I can't believe the shift going on in Nigeria, it's honestly wild! The government there has set aside a massive 2GW of energy just for mining, which is turning the country into a hotspot for big operations. They've got several 200MW projects underway including a 150MW hosting center in an industrial park that even comes with tax breaks which is a smart move. I also heard they're teaming up with local power plants to get direct electricity at great rates for only $0.04/kWh. It really feels like Nigeria is stepping up to be a major player in the global crypto mining scene and I'm curious to see if this could be the next go-to spot for miners like us who are always chasing efficiency and lower costs.

What do you all think about this?

Honestly This is extremely intriguing. Nigeria is playing it pretty well by exploiting its riches to entice miners. I think the inexpensive electricity rate is a major benefit especially as mining margins are getting tighter everywhere else, also love the thought of tax breaks it makes the whole setup much more appealing. Personally I think if they can keep the infrastructure steady and political situation calm Nigeria may absolutely become a new mining hub  What about the risk though. I  mean the power supply dependability and certain regulatory unpredictability might still be a worry