GigaWatt: Here Are Important Things To Know About This Cryptominer.

The crypto mining industry, spanning 114 countries, has been around since 2009. In 2017, it had a profitability of $4.1 billion, excluding equipment sales income. Energy is required for operating Bitcoin networks. Former plants have been reused for building mining farms. Major industrial miners discover new ways to cut energy expenses and boost equipment effectiveness. The world's five major mining farms are described below. GigaWatt Washington-based GigaWatt is North America's biggest mining farm. GigaWatt was established in 2012. Dave Carlson is the owner of GigaWatt. GigaWatt is the new name for the MegaBigPower company. The hash rate of 1.3 PH/s fully pays off Carlson's monthly operational costs exceeding $1 million. Carlson became successful thanks to cheap power costs. Genesis Mining Genesis Mining's current mining capacity is located in Canada and Iceland. These locations were chosen due to the cold climate and low electricity prices. Bosnia and China were the previous locations of Genesis Mining. It is assumed that Genesis mining farms are Iceland's biggest electricity consumer. Dalian mining farm China has many video card and ASIC miner manufacturing plants. Therefore, Chinese miners can buy equipment at a cheap price. Equipment delivery is low-priced or free. China's electricity is affordable for miner farm owners. In China, cryptocurrency production is continuous as system administrators live in industrial cities. Dalian is the mining center in China and, very likely the entire globe. The Dalian farm represents over 3% hash power of the whole Bitcoin network. Sichuan created a mining farm by a hydroelectric power plant. Its hash rate is 12 PH/s. Swiss mining farm Linthal is home to the biggest mining farm in Switzerland, which is owned by Guido Rudolphi. He decided to operate the mining farm in Linthal instead of Zurich because of the lower operating costs. Russian farms The largest mining area in Russia is located within the Moscow metropolitan area. The mining farm in Moscow mines 600 BTC monthly at a hash rate of 38 PH/s with 3,000 Antminer S9 ASIC miners. New Icelandic ventilation is utilized for cooling these miners. Monthly electricity costs exceed $120,000. Originally, mining farms were owned by individuals. Today, they have professional staff.