We are often asked the same question: “Why would I host my server in a data center and not at home or at work?” Scalability is the short answer. It is cost-effective to keep your mining servers in a small commercial or residential setting at first, but the savings will soon diminish as the mining operation grows. When a Bitcoin Mining operation begins, there are many costs that are often overlooked. Although most people are aware of the costs associated with mining, hidden costs can quickly add up.
Electrical Infrastructure Costs
A typical new construction will consume 38,400 watts of code-approved wattage. This is the equivalent of 20 Cointerra Terraminers or 34 Antminer s1’s. This power figure negates the electricity required to live or work at the site, as well as cooling costs. It costs money to install approximately 20 x20amp electrical outlets. Cooling Infrastructure Costs. It will cost approximately 40% to cool the miner’s space, if any mechanical cooling is required. This leaves only 23,040 Watts for actual mining power and adds 40% to net electricity costs. With cooling costs, it is 0.16 per Kwh.
A net consumption of 23 Kw would require an additional 6.5 tons of cooling. Large houses typically have 6 tons of comfort cooling. This will require 12 tons of cooling. This additional air conditioner is expensive. Long-term opportunity costs: Given the growing difficulty of Bitcoin mining, it is important to consider whether the cost of installing 20 x20amp plugs and 6 additional tons air conditioners will be a worthwhile long-term investment.
Time is Money
The old saying “time is money” applies more to crypto currency and mining coins. When you are deciding how to go about this, it is important to keep this in mind. You must choose a data center that understands the importance of your uptime.
True data centers will have more than just battery backup. They will also have a secondary power source such as a generator. They will also have network redundancy. These two additional features will be invaluable to your experience. You can forget about worrying about power consumption, electrical consumption, and downtime for your equipment. Collect your equipment and begin earning coins!