Mining News

Better than the mountains can be … only mining in the mountains!

The rapid revival of the cryptocurrency market has caused a new wave of interest in mining and mining equipment. An additional impetus to mining is given by the statement of the Chairman of China, Xi Jinping, on the development of blockchain technologies in the Middle Kingdom. Despite the fact that cryptocurrencies in China are still prohibited, up to 80% of mining is concentrated there.

Positive for mining is also the recognition of the leading cryptocurrency as a protective asset. While Ethereum is transitioning to the Proof-of-stake consensus, Bitcoin has been and remains with the Proof-of-work consensus. And this means that mining will continue both on an industrial scale and in home kitchens. The rising bitcoin rates makes profitable even home mining.

The Beeminer Group had begun as company with the production of immersion mining units for home use. Immersion (liquid) cooling is the best suited for the home, as it solves two problems at once: eliminates the noise of coolers and provides efficient cooling for high performance. These features of immersion mining were also appreciated by industrial miners, so now the Beeminer Group is also building large farms.

Beeminer Group co-founder and CTO Evgeny Belov talks Coinstelegram about trends in this segment of the crypto industry. The expert notes that the company’s portfolio already has several successful projects – in Iran, in the deserts of southern countries, which cannot be named under the terms of the agreements. And he states:

– Now it’s time to build an immersion farm in the mountains! This farm is unique in many aspects. At a height of 2000 m, a hydroelectric power station is built. Two high-voltage power lines feed electricity to the farm. A transformer substation has been built here. In general, water is used twice. First, as a source of energy, and then as a coolant in the second cooling circuit of the immersion farm.

To ensure cooling, water from a mountain river is supplied through a pipe of 150 mm and distributed over the installations. The first phase of the farm for 1000 ASICs Bitmain Antminer S17 is already launched. But this is only the beginning. Evgeny Belov continues:

– We are going to use all 10 megawatts of electricity that are supplied here from the hydroelectric power station. The next package is in November, another 1000 ASICs for the second phase. Our farm is unusual in many ways. It is not only one of the largest farms that I know, but also has important technical features. We use actuators located in the instrument panels that allow the farm owner to enable and disable ASICs remotely. All parameters of ASICs, installations – temperature, pressure – are monitored remotely. This is the uniqueness of this farm.

In fact, this mining farm is in line with Industry 4.0 concept. And those investors who invest in such projects – invest in the future, that is still a dream for many people on the plain.