Large Scale Mining challenges

In addition to facing the same challenges as data centers, such as network connectivity, availability of electricity, and price, the largescale Bitcoin mines face numerous unique issues. The hardware replacement cycles are much shorter, measured in months rather than in years. The Bitcoin exchange rate is an external factor affecting the profitability, and the competition between the miners is fierce. Industrial Bitcoin miners were also the first to employ immersion cooling of components at a large scale. Let's examine the challenges in a little more detail.

Inexpensive and reliable electricity

One of the biggest costs for Bitcoin miners is the cost of electricity. Electricity is needed in both running the hardware and the associated cooling systems, be it fans or air conditioning. Miners, therefore, seek out locations where electricity is fairly priced. In order to save on cooling costs, they also seek locations with cooler climates. Iceland is a popular location...