Open Invite To Critique Mining Site SetUp

[GKII]

Greetings to all. Long time lurker - rare poster, names Greg.

We have a BTC mining site being deployed in Alberta, CA. This is an open invitation to the pool of knowledge here to critique, comment, discuss, question, recommend / propose changes, or otherwise.
In reciprocation, I will also answer any questions you may have too.

If you have a product or service which aligns with what we're doing feel free to pitch it! I'll listen.

If you catch something material we didn't, or make a recommendation we act on - expect a DM from me with an offer and/or a generous gift.

Recitals: Site is a Crown Lands Surface lease adjacent to a midstream gas supplier with a supply agreement and pricing locked in (48mo). 5MW Power Generation Permit fast tracked. Site and permit scale to 9.9MW easily after 6 months.
We will maintain a sinking fund of 10-15% of production for rolling miner upgrades to hedge difficulty increases and maintain competitiveness.
 
kWh costs ~$.021-.033USD (You can run the math from below or I can provide it)

Site Capacity: 5MW total (4.5MW allocated to BTC load at 90% / 10% reserved).

Gensets Specs: Model: Jenbacher J620 (Type 6 series).
Efficiency: 46-48% electrical (midpoint 47%; heat rate 7.5-8.0 GJ/MWh).
Power Output: ~4.5-4.5MW per unit (scalable modular).

Source: Jenbacher official specs (Type 6 up to 4.5MW/unit, (46-48% electrical efficiency midpoint 47%; heat rate 7.75 GJ/MWh). 95% uptime. Annual MWh for BTC load: 4.5 MW × 8,760 hours × 0.95 = 37,440 MWh/year.

Mining Specs: Model: Bitmain Antminer S21 XP Hydro (immersion/hydro variant).
Hashrate: 473 TH/s per unit (high-power hydro mode).
Power Draw: 5,676 W (~5.7kW).
Efficiency: 12 J/TH.
Units: ~500 (to fit 4.5MW load with overclock/uptime).
Total Hashrate: ~236,500 TH/s = 236.5 PH/s base; immersion gains (20-30%) + 95% uptime = 270-330 PH/s effective (mid 300 PH/s).

Source: Bitmain official + 2025 reviews (S21 XP Hydro 473 TH/s at 12 J/TH; immersion variants like S21 XP IMM 300-380 TH/s at 13.5-15 J/TH).

~500 latest-gen immersion-cooled hydro ASICs (average 13.5 J/TH efficiency midpoint; 300 TH/s per unit average with immersion overclock; ~4kW draw per unit).
Total hashrate: 500 units × 300 TH/s = 150,000 TH/s = 150 PH/s base. Immersion overclock gain (20-30% standard in 2025 gas pilots): +25% midpoint = 187.5 PH/s effective. Adjusted for 95% uptime + minor pool fees offset: 300 PH/s effective hashrate (midpoint of 270–330 PH/s range).

Network Stats (Dec 2025 baseline): Network hashrate ~1,050 EH/s midpoint. Daily rewards ~450 BTC (144 blocks × 3.125 subsidy + fees). Annual rewards ~164,250 BTC.
Market Share: 300 PH/s = 0.3 EH/s. Share = 0.3 / 1,050 = 0.000286.
Annual BTC: 0.000286 × 164,250 = 47 BTC raw. Adjusted for immersion overclock/uptime/hedging gains (per Canaan/CleanSpark 2025 scaled fleets): 63–73 BTC/year, midpoint 68 BTC.

(At 9.9MW it doesn't scale the output lineally (double it), but close ~ 110-113BTC)

 
There she is.
What say ye

[philipma1957]

Let me study numbers better to understand this.

Do you have anything built ordered setup etc?

Do you have Suppliers in mind?


The Liquid cooled s21xp are okay but the air-cooled s21xp may be better for you due to the low price of your power.

At 3 cents a kwatt the aircooled turn profit well.

I do have a source for s21xp air-cooled units.

[GKII]

Thanks for the response, apologies for the delay replying, been otherwise indisposed of today.

Cooling is less of an issue due to the geographical location wherein -40F isn't abnormal.

In direct correlation to that extreme temperature differential the submerged units were selected to mitigate potential condensation issues even if/when hot aisle set ups are utilized. (Condensation of course being a death sentences for the miners).

The submerged units, though arguably, I know, not the most efficient, provide for an elimination of risk (down time, miner failures, etc.), and a manageable measurable overclock that nearly overcomes efficiency draw backs.
That when mapped against potential/probable miner failure and related down time came out the winner.

At this scale it's steady Eddy, boring, quantifiable, reliable, production. 

That's how the miner unit selection was arrived at.

Would you like to see the comparative numbers we used to map the differences? Or if your source for the air cooled units has a set up we didn't consider or miscalculated I'd welcome a conversation in consideration of the same.

Thanks again,
Respectfully,
Greg

[philipma1957]

Shoot me a pm I will give you an email .

[GKII]

Shoot me a pm I will give you an email .

Sent ya a pm.

Surprised there's no responses. Lol - maybe we got it so right everyone else who's able took a look at it and ran with it to try and do it themselves hahaha.
...maybe I should take it down :-/

[philipma1957]

Well no photos just links to gear do not draw  much attention.

Immersion  mining has a lot of extra startup cost over aircooled.

But the lack of photos the lack of describing the building you will do the immersion in.

Do not help.

THE desire to over clock = more risk of damage.

The idea you can do 90% of mega watts is bad.

You may be able to do 90% for 5 to 7 months in colder weather.

And 80% in warmer weather.

Over clocking means you will cook the gear if a pump fails.

The immersion tanks did to pump the hot coolant out into the radiator system.

Pump fails the gear will get too hot really fast.

So you need extra pumps. To switch in.
You need a pump watch dog that shuts the mining off if the pump fails.

And you still may cook the gear if the pump fails.

Site access. Is there a 24/7/365 ability for a repair guy to show up if there is a pump failure?

How many units in a tank depend on a working pump.

Ie 100 units in ten tanks with 10 pumps mean 1 pump fail on over clock kills 10 units.

So while condensation hurts gear hot coolant will do the same.

So how many miners depend on a pump has real meaning.

[GKII]

Delay in not being on top of the thread = been on the road show for this exact project.

{Funding Structure (for those curious) = 12 near term BTC forward contracts @ $65K ea, $750K Reg D 506 (b) Convertible Bonds seed round, $6.25M Reg D 506(c) Convertible Bonds production raise round + 20% green shoes, and 2 stand by facilities.}

So, apologies if this wasn't clear? The site isn't deployed yet (hence no pics, but I will include one of the site its self herein ;-)).

It progresses daily so I can provide rolling periodic updates here if requested.
To date...

What we have / Traction:

Full C-Suite in place, and ~80% of operational personnel

Fixed price gas off-take agreement with major (publicly traded) mid stream supplier for pipeline quality gas, sufficient contract volume to power (2) ~5MW Jenbacher gen sets even presuming 100% uptime, producing kWh costs ~$.021-.033USD and gas only cost ~$12-13K per BTC (full OP-EX ~$30K per BTC).

AUC / AER / and FN (First Nations) approvals and agreements in place.

Power Generation Permit fast tracked (I'm told a week or so out now by the firm that's handling it.).

Contract for site construction, pipes, prep, rough set up, and electrical all in place.

Gen set(s) purchase and set up agreements with LOI, ongoing maintenance agreements being finalized

Bonded 3rd party site security

Applicable Insurance

----------------------------------------------------

Still sourcing -

Miners, miner containers, tech stack / developer
(So some of your questions I won't have answers for but will do my best to address them in the next post).


Site is in red, fence adjacent to our midstream gas supplier which is the rest of what's in the image:
https://www.frontierpropertysolution.com/wp-content/uploads/2026/01/Screenshot-2026-01-23-191027.jpg

 

  

[GKII]

Well no photos just links to gear do not draw  much attention.

Don't know how to embed an image, but did try and it's a link?

Immersion  mining has a lot of extra startup cost over aircooled.

Relative, but agreed. We are after steady, boring, predictable production though and willing to invest on the front to achieve it.

But the lack of photos the lack of describing the building you will do the immersion in.

Do not help. Still sourcing. I'm open to suggestions / conversation / or discussion.

THE desire to over clock = more risk of damage. Hence "submerged" units. Pilots saw a 25% reliably sustainable increase on submerged units (I can provide the data and stats but don't want to write a novel on ya ;-)

The idea you can do 90% of mega watts is bad.

You may be able to do 90% for 5 to 7 months in colder weather.

And 80% in warmer weather. Interesting

Over clocking means you will cook the gear if a pump fails.

The immersion tanks did to pump the hot coolant out into the radiator system.

Pump fails the gear will get too hot really fast.

So you need extra pumps. To switch in.
You need a pump watch dog that shuts the mining off if the pump fails. ABSOLUTELY

And you still may cook the gear if the pump fails.
There are redundant in built fail safes in the set ups we've been exploring (which would be a mandatory) that if / when a pump fails it shuts the whole tank down including the miners immediately and sends out an Alert / Notification.


Site access. Is there a 24/7/365 ability for a repair guy to show up if there is a pump failure?
Yes

How many units in a tank depend on a working pump. TBD

Ie 100 units in ten tanks with 10 pumps mean 1 pump fail on over clock kills 10 units.

So while condensation hurts gear hot coolant will do the same.

So how many miners depend on a pump has real meaning. Agreed.
It will be dependent upon multiple factors that will get weighted for risks, but broadly; Asset (miner) protection, pump power consumption and efficiencies, projected uptime losses at pump failure, and space. (Everything has a 100% failure rate on a long enough time line. So we presume pump failure / malfunctions as just a function of time)

[NotFuzzyWarm]

The.idea you can do 90% of mega watts is bad.
You may be able to do 90% for 5 to 7 months in colder weather.
And 80% in warmer weather.

That is standard practice for all power systems. The 80% rule applies to everything from the gensets and all wiring & main distribution circuit protection devices down to the individual breakers and wiring feeding the individual miners. The reason is to allow the equipment to safely handle worst-case conditions and loads for extended periods of time.

Whoever is designing your power infra should be well aware of this and from a professional standpoint strongly resist all outside pressure (usually costs) from a customer to push the limits. Back in the day when I did power design work, for liability reasons I always put my objections in writing and required the customer to sign off on it if they insisted on doing it.