What Bitfury does with their own hardware.

[Nagle]

Bitfury Mining Center from Data Center Knowledge

"Bitcoin mining operations are expected to spend at least $600 million to deploy infrastructure in the second half of 2014."

[jimmothy]

Seems like you are trying to be intentionally misleading.

Bitfury is not spending $600m on hardware. Some fortunetellers estimate $600m will be spent based on how much btc can be mined. They also say "The cost of deploying a petahash ranges from $1.5 million to $2 million" which is way too much. A month ago Hashratios deployment costs were $800k/PH and it will only get cheaper.

http://www.datacenterknowledge.com/archives/2014/07/15/bitcoin-infrastructure-may-grow-600m-second-half-2014/

[goose20]

Bitfury Mining Center from Data Center Knowledge

"Bitcoin mining operations are expected to spend at least $600 million to deploy infrastructure in the second half of 2014."

Damn. Did I say damn...

I remember being so impressed when I saw a dozen GPUs hooked up together - holy f&#k.

Mind = blown.

[xstr8guy]

What Bitfury is doing and has been doing since August of 2013 is not a surprise. They never intentionally set out to be a retailer of mining gear. They were very transparent from the start. They used retail sales of their miners to fund large-scale mining operations and openly admitted that from day one.

[cloverme]

Kinda looks like a cow barn from the mid-west though. I've never seen a datacenter with A line roof before lol... oh well, I guess they can do what they want with that money factory they built.

[Nagle]

Kinda looks like a cow barn from the mid-west though. I've never seen a datacenter with A line roof before lol... oh well, I guess they can do what they want with that money factory they built.

They have to keep their costs down. In six months, all that gear will be worthless.

On the other hand, reliability isn't a problem. If a few mining units fail, no problem. Just turn off their power. There's no data to back up, and no users to serve.

[jonnybravo0311]

Kinda looks like a cow barn from the mid-west though. I've never seen a datacenter with A line roof before lol... oh well, I guess they can do what they want with that money factory they built.

They're called "mining farms" for a reason...

[cloverme]

Kinda looks like a cow barn from the mid-west though. I've never seen a datacenter with A line roof before lol... oh well, I guess they can do what they want with that money factory they built.

They're called "mining farms" for a reason...

lol wah wah waaaaaaaahhhhh.  I can't quite tell what's on top of the racks though near the ceiling, it looks like plastic wrap or something?

[dropt]

I'm going to have the biggest shit eating grin on my face when we hit the next halving.

[cloverme]

I'm going to have the biggest shit eating grin on my face when we hit the next halving.

105 weeks, 3 hours, 30 minutes....

Do you think the price of BTC will go up with the halving?

[Melds]

I'm going to have the biggest shit eating grin on my face when we hit the next halving.

That'll be interesting since I wasn't around to see the last halving.

[BitcoinAddicts]

I'm going to have the biggest shit eating grin on my face when we hit the next halving.

105 weeks, 3 hours, 30 minutes....

Do you think the price of BTC will go up with the halving?

I believe the btc should go up when halving, you know supply vs demand...

[Bitsaurus]

I'm going to have the biggest shit eating grin on my face when we hit the next halving.

105 weeks, 3 hours, 30 minutes....

Do you think the price of BTC will go up with the halving?

I believe the btc should go up when halving, you know supply vs demand...

That may be true to the farms that have to pay their electric bills in fiat and need to pay back investors on a regular basis.  For people who want to convert fiat into BTC through mining - they never end up selling the BTC.

[SMB-2525]

“Over the next two years there will be 2.6 million Bitcoin mined.”

At current price of about $630, that adds up to at least $1.6 billion in Bitcoin that will be earned by mining operations.

Something does not compute. In order to compete for the entire $1.6 billion in BTC, they have to make the investment 4 times.

[herebittybittybitty]

Judging by the recent hashrates, BitFury had a new barn raising last week.

[taipo]

The mining panelists at CoinSummit expect that growth to continue through the fall, resulting in a year-end hash rate of between 400 petahashes and 700 petahashes per second.

We will be looking at a year end difficulty of between 50⁹ to 87⁹ according to their predictions.

[Bitsaurus]

The mining panelists at CoinSummit expect that growth to continue through the fall, resulting in a year-end hash rate of between 400 petahashes and 700 petahashes per second.

We will be looking at a year end difficulty of between 50⁹ to 87⁹ according to their predictions.

You mean 50E9 to 87E9.  Otherwise all miners would just pull a gun out and shoot themselves 

[dropt]

I'm going to have the biggest shit eating grin on my face when we hit the next halving.

105 weeks, 3 hours, 30 minutes....

Do you think the price of BTC will go up with the halving?

Not right away, but it will over time. 3,600BTC/day of new minted coins is a lot more in fiat value than 7,000BTC/day ever was. 

[BTC_Fundamentals]

3600 BTC a day, damn, is that how much that farm is earning ?

[SMB-2525]

3600 BTC a day, damn, is that how much that farm is earning ?

No. Total BTC/day at 6 blocks per hour = 6*25*24 =  3600. Total network production