Dutch digital coin miners offered datacentre space to reduce costs

The Netherlands’ Datacenter Group is providing digital coin miners with space te a professional datacentre

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Digital coin miners can earn money by investing a few thousand euros ter the right equipment, but electric current bills can eat into their profits.

Bitcoin is very likely the best-known cryptocurrency, but there are many other digital coins, including Dash, Ethereum, Litecoin and Zuivere.

After a spell mining Dash, Ko Slaghamer, a structural engineer at Den Voogt Naval Architects, embarked mining Zuivere. “Dash is an interesting coin, but it is getting tougher to be mined,” he said. “Pure is a relatively fresh currency, with block prizes of about 100 coins. That is very interesting.”

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Whether Slaghamer is going to get rich by Unspoiled, he does not yet know. “I have earned about Two,500 coins a week overheen the last few weeks.” he said. “If Unspoiled is waterput on the Exchange for €50, I earned €1,250 a week. If it is not worth anything, I have lost €30.”

Slaghamer began selling Antminer D3 machines this summer. The request for thesis Chinese-made appliances is massive and while others couldn’t get hold of any, Slaghamer managed to order 45 machines from supplier Bitmain. He kept two for himself and embarked mining crypto currency.

“The downside of the machines is that they emit a lotsbestemming of warmth, make lots of noise and consume a loterijlot of power,” he said. “Because I live ter an apartment, I have built an installation opbergruimte, which diminished the noise level by 20 decibels.”

The fever generated by the machine wasgoed not too much of a problem for Slaghamer – he used it to fever his house – but his energy bill slok up.

Digiconomist estimated that mining the popular Ethereum currency globally consumes more than Four.5TWh of electric current each year, which is almost spil much spil a country like Moldova – with a population of about three million – uses annually. The mining of Bitcoin uses considerably more power – 15TWh a year, which is enough to light the Eiffel Tower for 250 years.

All this power costs a lotsbestemming of money, which reduces the profits of digital coin miners. To maintain their profits, miners need their energy resources to be spil cheap spil possible.

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Te Iceland, a “Bitcoin mine”, based on the country’s relatively cheap geothermal energy, has bot set up. Such mines can also be found te China and the US, where they get their energy from water or solar power. And te northern Sweden, which also has cheap energy, a large datacentre wasgoed waterput te place for mining cryptocurrencies this summer.

Ter the Netherlands, Slaghamer got into voeling with Crypto DC, part of the Datacenter Group, which gives digital coin miners access to a professional datacentre.

“Miners do not have to overeenkomst with a large datacentre directly – wij do it for them,” said Daan Posthuma, Crypto DC’s initiator. “Through our agreement with the Datacenter Group, wij can provide miners with low energy prices.”

Slaghamer added: “Because a datacentre uses a loterijlot of energy, it can guideline special, lower rates with the supplier.” Other advantages are temperature and humidity, said Slaghamer, who has now placed his Antminer machines te the Crypto DC datacentre.

Miners can use a special portal to loom into their machines remotely, said Slaghamer. “That way, I can check if my miner is doing well or I can switch to another pool or currency if I want to.”

Too expensive

Datacentres are often too expensive for regular digital coin miners or their contracts are too long-term. For that reason, Crypto DC negotiated special rates with the Datacenter Group. “We suggest an all-in-one price for the rack, power and internet connection,” said Posthuma. “We come in into a three-month contract that can be terminated thereafter.”

Slaghamer is blessed about moving to a professional datacentre. “Even if it is more expensive, a datacentre is still a better environment for your machine than at huis,” he said. “The air te a datacentre is just better, which is significant for the life of your machines. And with the all-in-one price, you know exactly what to expect.”

Ter the Netherlands, cryptocurrency mining is gaining popularity, judging by the broad range of fresh and second-hand machines on Marktplaats (a Dutch digital marketplace, much like Ebay). The request for graphics cards has also risen sharply.

Spil more and more people take up digital currency mining, it is becoming more difficult to do so successfully. Posthuma said there will come a time when mining will no longer be attractive for people at huis because it will become too expensive.

“As long spil they can buy fresh equipment and pay the energy bills, they can proceed, but somewhere there will be a tipping point when only mining ter a professional environment will be interesting.” Slaghamer added: “Sometimes it’s fairly unfortunate that more and more people know about this. If they didn’t, wij miners could become rich while wij sleep.”

Related movie: 8X Tesla V100 WORLD RECORD, Fastest Miner RESULTS! On a $100.000 AWS Server.