Major Bitcoin Mining Farms – Part 1

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For the generation of new Bitcoins, they must be mined by network nodes. However, the mining process involves a lot of computational power and a lot of energy expenditure, making it very expensive.

To solve this problem and continue to move the ecosystem, companies and entrepreneurs enthusiastic about the cryptocurrency universe decided to create their own mining farms.

Discover now the main mining pools in the world.

Slush Pool

Although not the largest Bitcoin mining farm in the world, Slush Pool was the pioneer and is currently responsible for mining 11% of all existing blocks.

Launched in 2010 under the name of Bitcoin Pooled Mining Server, it was the first mining farm open to the public. In addition to mining Bitcoins, Slush Pool also allows exploration of Zcash.

Another differential of Slush is the sharing of transaction fees obtained with all the miners that are part of this farm.

GigaWatt

Founded in 2012, the mining farm, whose first name was MegaBigPower, started in the basement of Dave Carlson’s home in Washington – USA, with a common GPU and became one of the largest mining farms in America. North under the new name of GigaWatt.

Today GigaWatt is located in an old industrial warehouse with an exact uncertain location, the company has expanded its business beyond mining itself, also producing mining equipment for enthusiasts in the cryptocurrency world.

For Carlson, although GigaWatt’s operating expenses are quite significant, the low electricity prices in the city of Washington were a determining factor for the success of this mining pool.

Genesis Mining

With mining capacity originally located in China and Bosnia, Genesis Mining, founded in 2014, today focuses on Iceland and Canada.

Like GigaWatt, the exact location of the farm is unknown, but it is known that the preference for cold locations is due to the low cost of electricity.

Genesis is a world leader in providing hash power and offers cloud mining services allowing customers around the world to purchase contracts and rent the hardware to mine altcoins.

Dalian mining farm

Highlighted for its mining equipment at lower prices, China is also one of the countries with the lowest price of electricity in the world and has a government that supports and encourages the production and mining of cryptocurrencies. Therefore, it is expected that one of the most prominent mining farms in the world will be based in this country.

Dalian Mining Farm founded in 2016 in the city of Dalian, China is the mining center in the country and is responsible for 3% of the hash rate of the entire Bitcoin network. The farm has three floors and its ventilation system was exclusively designed for large-scale mining purposes.

Bitcoin mining, while quite costly, is also a very profitable activity that can generate many jobs and move the economy both in the crypto market and in the energy and technology sectors, fostering the crypto ecosystem and integrating the dynamics of the new economy. to the traditional economy.

Follow our blog and find out more about the main concepts and news in the world of cryptography.

Fontes:

Medium Digital Trends Coin Insider Buy Bitcoin Worldwide Cointelegraph Criptonizando Forbes

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