For miners, the mining difficulty of the entire Bitcoin network is as significant as the currency's price. As a result, the miner's mining revenue is closely related to the miner's hash rate and power consumption.
The low water period means that miners' mining cost "electricity" will rise sharply. So how to find a cheaper electricity bill is the top priority for every miner.
Therefore, finding a trusted mining farm and platform is significant!
New miners have just entered the mining farm, and it is difficult to assess what electricity prices are considered cheap and affordable. The electricity bill in remote areas is lower than the average price in cities is just the public's perception. When used to mining digital currency, it may also involve fraud, policy risks, and other issues.
So, what matters should new miners pay attention to when looking for "high-quality power"?
No.1 Power supply stability
In various places, the distribution of cheap electricity varies in time and space. The advantage of hydropower is the large amount of electricity generated during the high water period and the low electricity price. Therefore, some miners may even dig during the high water period and move or shut down during the low water period.
Some mining unions "follow the electric run," but it is not easy to find the best mining farm they think is the best. The infrastructure, operation, and maintenance model of the mining farm and the trust of the platform are all parts that miners need to consider. Although some "mobile mining farms" have improved mining convenience, stable mining farms and reasonable electricity rates are the preferred choices for miners.
In addition, many factors cause power instability. For example, several small self-owned mining farms may be built next to the thermal power plant simultaneously, sharing the same power plant, which can easily cause power instability.
No.2 Electricity bill stability
Electricity bills need relative stability to control their mining costs within a cycle. The currency price has a vast impact on the price of electricity. When the currency price continues to decline, many mining farm owners can only take the initiative to reduce prices to customers and maintain their costs.
Conversely, currency prices have risen, and electricity prices are not uncommon to be driven up.
Of course, market demand causes price changes. The currency price has risen, and the miners have updated and iterated. As a result, miners need more digging sites and cheaper power to support more miners. When they see such heat, electricity providers or intermediaries will naturally drive up electricity prices.
Therefore, miners need to pay more attention to their rights when signing electricity tariff contracts to avoid losing their right to speak.
No.3 Mining farm operation and maintenance level
A mature and complete mining farm can provide miners with a more stable operation and maintenance environment. With the upgrading of miners, such as those of the 7nm chip series, the management capabilities of mining farms are required to be improved accordingly, such as maintaining the temperature of the mining farms.
In addition, many mining farms do not exist independently and have their complete ecological layout. As a result, mining farms have their corresponding brand endorsements, such as the development of miner factories, hosting, mining pools, hash rate calculation platforms, and comprehensive ecological models, making miners more confident.