According to Genesis Mining's CEO:
“Time is critical, very critical...For example, we are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity.”
According to many reports, this practice is becoming the norm for some cryptocurrency mining companies, and High Profil Crypto-Miners. To ship GPUs as fast as possible, several reports indicate that in order to get sufficient processing power while the hash rate is still reasonable, they use entire Boeing 747s to ship directly from AMD and Nvidia's factories, this is mainly due to the sudden explosion in Ethereum mining using GPUs, and the shortage in the retail market of highend GPUs.
The Highest priority now is securing critical amount of GPUs and shipping them as fast as possible while the data center are getting built and ready to receive the critical components, any delays in the shipment of the graphics cards represents sometimes hundreds of thousands if not millions in lost revenue, pushing more miners to resort to extreme measures to get there GPUs are fast as possible.
Next time, Maybe they will be the first to fund the Hyperloop to deliver their components in no time.
thats a lot of GPU's for mining but the question thats bothering me is,what amount is their electricity bill?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Probably Millions, they are literally running Datacenters.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
One of the main reasons bitcoin miners choose a location is for the inexpensive and plentiful power. For instance, Iceland has plenty of geothermal and hydroelectric power which allows miners to have a better return on their investment.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
too bad they can't just have manufactoring facilities in or near where demand is so that they wouldn't have to ship them at all
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Hi @thecryptogirl thanks for the follow I definitely believe in the value of crypto currency so I following you from Hackney East London baby Steem on girl.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Up voted. Thanks for the news.
With many miners based in Iceland, things could get bad if something happens there to knock off some centers offline.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit