Last year was marked by the crypto winter for the entire blockchain industry. Along with traders, it may be miners who suffered most. Many news outlets reported a massive exodus of miners from the business.
Meanwhile, the crypto winter will not last forever. There are signs of recovery connected to the miners’ behavior. For instance, after the miners have “switched off old mining hardware” at the end of last year, the “difficulty has adjusted downwards” that indicates the end of “bear market.”
Moreover, the media reported about Chinese miners who formed the basis of the entire sector actively investing in mining equipment, awaiting an alleged “cheap electricity” season.
This way or another, a concept of mining cryptocurrencies at home has long ago become a thing of the past. The mining operation is a business where every penny counts, so mining rigs need to be constructed by professionals and treated respectfully. The scale plays a big role as large data centers are much more profitable than a home miner.
Still, individuals and small companies may earn money from crypto mining. They may turn to the companies that provide professional crypto mining service, like the Bittech. The firm’s CEO Alexander Petrakovsky expects significant capital inflows due to the inflow of institutional players to the crypto market and the new bull trend, which should increase the profitability of crypto mining.
The company treats customers like investors, helping them to engage in the industry along the way. Essentially, Bittech is the full-cycle business that offers clients a turn-key solution for the mining operation.
First, an investor acquires the equipment, and the Bittech provides a range of mining hardware. He claims that it is not necessary to buy miners in China where they are primarily produced. A miner, which was bought on a local market, has an official product warranty that is important as the equipment is heavily used for the calculation.
Next, a customer has an opportunity to host its miner in the Bittech data center, getting regular payouts from the mining operation.
More than 2,000 mining units are kept in the Bittech data center with the total power consumption of 2 MW. Big data centers allow to ensure low electricity rates and save on the maintenance. In case of a malfunction, the hardware can be fixed by corporate engineers. It means that an equipment’s owner saves an additional time.
The waste heat is a spread issue for the miner that reduces a hardware’s service life, so it is necessary to remove heat from the equipment. Petrakovsky highlights that Bittech has installed a “smart” ventilation system in its data center, including such features like a filtration, fast air exchange, and even the recuperation.
Speaking about the pain point of every crypto miner – a price for electricity – Patrakovsky underlines that, despite the popular opinion, it is pretty tricky for the business in Russia to negotiate a low fare, however, there is a lot of excess electricity:
“In neighboring countries like Kazakhstan, Abkhazia, Georgia or Moldavia electricity is cheaper, for some unknown reason.”