It doesn’t take much to run a website. For example, an online casino site may even run on a low-configuration server, and that server is likely hosting hundreds of other websites at the same time. But some jobs require huge computer farms working for a single purpose: Bitcoin mining is a prime example. Thousands of computers around the world continue to produce Bitcoin by working non-stop every second. So, are you wondering where the biggest Bitcoin farms are?
What Is a Bitcoin Farm?
Imagine a huge warehouse, big enough for an airplane to fit inside. When you enter this building, you see that almost every square centimeter is filled with computers, and all these computers are connected to each other. They’re not like your desktop computers: none of them has a screen, keyboard, or case. They consist of graphics cards attached to motherboards lined up side by side and work 24/7. The building is full of air conditioners, but it’s still very hot: you cannot spend much time near the computers. At the other end of the building, in a small room, there is another computer with a screen, keyboard, and case: this is the “administration center”. A Bitcoin farm looks like this.
The purpose of these farms is to mine cryptocurrencies. Mining Bitcoin is like solving complex math problems. The sooner you solve this problem, the more likely you are to mine a BTC. A single computer can solve the problem in about 24 hours. However, hundreds of computers attached to each other can reduce this time to a few hours. The more computers you use, the more computing power you get and the faster your BTC mining speed is. That’s what Bitcoin farms aim for: to run as many computers as possible at the same time, reducing the speed of solving the problem. For the same reason, they consume huge amounts of energy.
So, where are the largest Bitcoin farms in the world located? It is not possible to give an exact address here, as most of these farms keep their contact information confidential for security reasons. But in general, we know where they are and what their capacity is.
Some of the largest crypto farms in the world are located in Moscow. This title was previously owned by China, but when the Chinese government banned all mining activities, companies had to relocate to other countries. Russia was the most preferred country in this respect because the cold weather made it unnecessary to install a separate cooling system and energy was cheaper (compared to European countries). No one knows the exact addresses of the crypto farms in Moscow, but we do know that they mine 600 BTC every month, pay 120,000 USD in electricity bills and have 38 PH hashrate. The only facility that describes itself as a crypto farm is in Bratsk. The aluminum plant here was converted into a crypto farm at an unknown date and became a 100-megawatt mining facility. Since it belongs to the company that owns a nearby hydropower plant, it has no problems with energy.
If you thought the 38 PH hashrate was impressive, you will be surprised to learn that a 1,000 GH hashrate can be achieved in the facility controlled by Genesis Mining. This Icelandic farm is considered the largest cloud mining company in the world and has a big advantage over any other facility: it doesn’t need to invest in a cooling system. This is the biggest electricity consumer in Iceland, and there are even fierce debates in the country about whether the company should be allowed to continue its operations.
The farm here is called “GigaWatt,” and it started out as an actual basement project. Over time, as Bitcoin’s popularity grew, it turned into a farm and chose to stay in Washington state, as it has the cheapest energy in the US (0.0842 USD per kWh). This facility has a hashrate of 1.3 PH, and while that’s not a very impressive figure, it still has the distinction of being the largest crypto farm in the United States.
The name of this farm is Bitfury, and it is one of the oldest mining facilities in the world. It was founded in 2011 and has produced 600,000 BTC so far – a figure no other farm can now reach. Energy is not very cheap in Europe, but Bitfury has developed a patented dual-phase cooling system and has achieved almost 95% energy savings.