Cryptocurrency mining has become one of the most profitable business ventures in the digital space. With rising crypto prices and powerful modern hardware, huge crypto mining farms can earn millions per month.
Some of the biggest crypto farms in the world are incredibly massive. They can spend as much money on electricity as a small city. The whole crypto mining craze is only ramping up, so today we decided to present you with some of the most ridiculous mining farms in the world!
Internet Mining Farms
Sometimes nefarious actors get into the mining space and try to scam people into farming for them. There have been a couple of popular programs that have established mining malware on their user’s computers. This software was hidden from the user and was most active when the user didn’t use their computer.
Tens of thousands of these infected computers have been mining away for months without the users realizing it. Increasing their power bills and lowering their devices’ lifespans for no benefit.
Finding cheap GPUs has become impossible. The usual price for a graphics card is anywhere from 100% to 200% of the MSRP, and some crypto farms just don’t want to splurge that much on their operation.
This is why some utilized the relatively affordable laptop market. These farmers buy gaming laptops in huge quantities (they don’t have the same availability issues as desktop components) and they let them mine.
Sadly, laptop GPUs aren’t as effective or fast as desktop ones, so it’s a real question of how profitable these operations really are.
Crypto Mining In The Ice
Iceland is a northern country where the temperature is usually quite low throughout the year. As you might know, massive Crypto farms use a lot of power and create a lot of heat while mining. This is why Iceland is a perfect location for a mining operation.
Iceland has a crypto-friendly attitude, relatively affordable power, and a cold climate which can bring massive savings to cooling. All of this lead to the country becoming the host of one of the largest crypto farms in the world!
Biggest Farm In The World
You might have heard that China started cracking down on its crypto miners in recent months. Before this China was friendly towards crypto and probably the most affordable country for it. The reason behind it is the affordability of components (which are produced in the country) and low prices on massive energy spenders.
This culminated in the construction of the world’s biggest Bitcoin farm. The mining operation is located in Dalian China has an estimated hash rate of 360,000 TH. And it is speculated to mine around 3% of all Bitcoin in the world. Some estimate that they mine around 750 BTC monthly, and spend around $1.2 million on energy each month. At the current prices, this leaves them with around $80 million in pure profit monthly. Incredible!