Bitcoin Mining Farm is relaunching!
I’ve been working tirelessly behind the scenes to secure a new location for mining bitcoin. One that is free from reoccurring utility expenses and free from being reliant upon external parties for management!
We have had so many issues in the past with the last mining project that I really wanted to step back, rethink, and strategize an effective method to tackle mining at-home/off-grid more effectively. Nothing is easy, that’s for sure! So never be discouraged if it doesn’t work out the first time.
Last time with BMF; Bitcoin Mining Farm, as a collective community, we brought together funds to purchase four of the latest ASIC hardware devices, which required 220V electrical and came fully equipped with maxxed out utility bills to operate them, which ate up all of the bitcoin revenue and then some more, utilities were so expensive that it caused an overflow on revenue.
I ran these ASICs at locations owned by friends, which turned out to be more burdensome then productive, especially when we entered the bear market, after purchasing hardware at peak prices as the bullrun ended.
I’ve learned a lot about mining at home, and what it really takes.
In Northern Canada, utility-based power is just not suffice. Rates are far too high for the latest equipment to be profitable. You can’t rely on others to manage or participate without risking damage to hardware. You really have to be present.
There are many options available to mine bitcoin “Off-Grid”, whether you choose water dams, wind , solar, gas generators, etc. However, the most effective option to eliminate utility expenses, in my opinion, so far seems to be solar power. The only downside to solar is sometimes the weather may cause damage to solar cells, and you have to clean them regularly.
There are many great alternatives that seem to be suffice for relaunching the project on a basic level, allowing me to gradually scale up over time, rather than going in too hard, unprepared and having to scale backwards, like last time.
While solar is not as effective in Canada as compared to centrally located areas, due to shortened sunlight in the northern hemisphere and cold prolonged winters causing overcast, solar can still be quite effective overall depending how you plan to operate and utilize the power that you can create and store.
One effective route is doubling your panel allocation, and increasing battery capacity beyond your consumption, so you can make the most of the power you can generate on the land.
Over the past two years, I’ve been working to remodel a camping trailer, to be insulated to withstand the winter temperatures and have recently purchased a basic solar panel system to get started with a new mining operation.
It’s not much, but there’s no monthly cost and with the solar panel system, there will not be any utility expense to mine bitcoin.
This will allow me to stack all mined sats, without having to sell the bitcoin to cover operational costs.
I can live here. The trailer is placed on family land. I can be present, and manage the hardware to ensure it doesn’t overheat and run in poor conditions.
We’ve completed alot of renovations to make the trailer liveable, reinforcing insulation, rebuilding the walls, placing new flooring. A lot of stuff totally unrelated to mining, but really doubling down on converting it to more of a “tiny house” than a camper trailer.
The goal is to utilize the knowledge from the first phase of mining at-home, running the ASICs, and redirecting exhaust heat to be re-used as heating, while at the same time removing utility costs to run the hardware, so we don’t get drowned out again.
It’s not much, but it’s an honest effort to mine sats, with no one to stop us but ourselves.
