To date, probably there were no people who did not hear about bitcoins, crypto currency and mining. This topic is now at the peak of popularity, and very often in the information flow the phrase “mining farms” slips. For both beginners and experienced users, farms for mining have long been an excellent option for business, which can bring its owner a decent income.
What are mining farms?
In a separate article we already talked about what exactly is mining. In short, this is the process of extracting crypto currency, by performing a number of mathematical tasks and calculations to find the appropriate hash and close the transaction block. New coins of any of the crypto-currencies arise by their generation with the help of the computing power of the technology – initially they were processors, then – video cards, and today one can not imagine mining without the most powerful ASIC.
It is logical that the more equipment is working on the process of extracting coins and the more powerful it is, the more successful the result will be. That is why many of the miners began to organize whole “enterprises” aimed at mining crypto-currencies, which are called farms.
Speaking in simple words, the mining farms are a set of components that are united among themselves and extract virtual currency.
Now, China is the monopoly on mining and the number of farms. This is due to the fact that China is the main manufacturer and supplier of equipment, there is no need to wait for parts for months, quite a few days. Due to the readily available equipment and relatively inexpensive electricity, in China, whole areas are built for mining farms.
What do you need to equip your mining farm?
Let’s take a look at the example of GPU-farm. In order to assemble your mining-farm on video cards you will need such components:
- video cards from AMD or Nvidia – at least 4-6, less simply not cost-effective.
- motherboard – it will be quite ordinary, in which there will be a necessary number of connectors for a video card.
- hard disk – can be enough and 60 gigabytes, but it’s better to take 100-160. One purse with an etherium weighs only 25 GB, and with bitcoins – from 50 and above.
- power supply – for farms with 4+ video cards often requires more than one power supply. Buy mostly a few blocks of 750 watts and simply connect them together to work.
- adapters for mounting video cards (preferably Razer).
- hardware start button.
- 1-2 coolers for better cooling.
Collect the farm yourself you can only if you have special knowledge. Now the Internet is full of information about mining and mining farms, so finding a video-instruction on assembling a mining farm will not be difficult.
After the assembly, another important step awaits you – setting up the farm. In fact, the configuration of the farm is reduced to a complete demolition of the system, installation of new drivers and subsequent work with programs.
Types of mining farms
Farms are different and incomes from them also vary. On how much money you initially invest in the process, not only does your profit depend, but also how quickly you will be able to repel costs.
Solo farms. If the mining farm is not connected to the pool and produces coins solely by its own efforts, then it is said that it works solo, that is, it is a solo farm. As a rule, these are large enterprises that have large volumes of equipment and they simply do not have the sense to unite with other farms – they are already steadily getting their profit and do not depend on anyone.
Pools. Farms, whose technical equipment leaves much to be desired, combine with other similar farms into pools. Combining the power together, several farms much faster solve the block than alone. When the reward is received, the pool recalculates the efforts of each miner and, according to this, the miners receive a profit in the form of coins – in simple terms, whoever has more equipment gets more.
What is the profitability of the mining farms?
Unequivocally answer this question will not happen due to the fact that, firstly, the farms are different, and secondly, the course of the crypto currency has been actively jumping in recent months, and it is no longer possible to talk about exact figures. The only thing you can approximately calculate is the payback of video cards. They recoup themselves on average for 150 days + equipment from the cooling system, the motherboard and electricity will add another month. Total we get 5-6 months payback.
It should be understood that these data are very generalized because there are different farms with different equipment capacities and electricity prices. Now it is difficult to find real data on how much the farms bring in a day. And it’s even harder to forecast its revenues, because the popularity of production algorithms is becoming more complicated, prices are still jumping, and the sellers of the crypto currency at any time risk their actions simply to collapse the market.