A competent business plan is the basis for profitable mining on a farm

The choice of business area, development vector, employment schedule and the ability to earn income on your own are just a few of the advantages of entrepreneurial activity. However, an ill-considered entry into a particular niche is fraught with a waste of time and loss of financial investments. A detailed business plan for a mining farm can be the starting point that will allow you to competently and thoroughly start your own business.

• 2 Operating principle
• 3 Required equipment
• 4 Premises requirements for a mining farm
• 5 Truss assembly

  5.1 Video: How to assemble a mining farm yourself

What is a mining farm

Your own farmer

A mining farm is a combination of computer components for mining virtual currency. Initially, mining was available on a regular personal computer, but over time people began to use only its individual components, increasing productivity and increasing business profitability.

Cryptocurrency market analysis

Recently, several types of similar currencies have appeared, each of which has its own advantages and disadvantages, which affect the dynamics of its value. It is important to determine which cryptocurrency you will mine as part of your business plan and formulate for yourself its advantages over others:

• cost on specialized exchanges;
• growth dynamics over the past year;
• expert assessments;
• price stability and absence of significant drops;
• mining speed.

Another unconventional solution for business is a hotel for animals. A business plan for opening a hotel for animals will allow you to evaluate all the advantages and disadvantages of this idea and make the right decision in this regard.

Necessary equipment

Miners can safely say about video cards “our everything”

1. The computing power of the equipment determines the level of income of the miner. Therefore, the first thing you should spend money on is purchasing powerful video cards - the heart of the future farm, with an installed graphics processor.
2. The more options your computer motherboard provides for connecting new video cards, the better. If you have enough money, you should pay attention to special motherboards for mining - for example, boards from the manufacturer ASRock labeled BTC.
3. Video cards will work at their maximum capabilities, which means power consumption will increase. To avoid unauthorized stops in the operation of the mining farm, you should take care in advance of increasing the capacity of the power supply.
4. For Bitcoin mining, one more item should be included in the expense item - the purchase of ASIC processors. Their integrated circuits are designed exclusively for these functions.

Among the additional equipment it is worth noting:

• risers-extensions for connecting video cards to motherboards;
• racks for placing video cards;
• fuse for power supply;
• cooler and other cooling systems.

Staff

A mining farm is the source of passive income coveted by many. It requires absolutely no additional personnel other than the organizer himself. To properly manage the mined cryptocurrency, it is important to be a good trader, monitor the current agenda, have the ability to play on the stock exchange and understand the laws of economics and the market. You will definitely need these skills, and it is better to develop them at least at the initial level before organizing a farm. A deeper understanding of all processes will come with experience.

Premises requirements for a mining farm

It is better to equip a mining farm in a cool non-residential area

The room requirements are determined by the number of constantly running video cards. If there are not so many of them, then a mining farm can take its place in any room of an ordinary apartment. However, five or more processors will be constantly noisy and very hot, which will require careful compliance with placement conditions:

• cool non-residential premises;
• the presence of ventilation for heat removal;
• low cost per kilowatt of electricity.

Since noise pollution cannot be avoided, priority will be given to areas located away from where people are constantly present.

Truss assembly

If you installed a computer, you can handle a mining rig

The farm assembly process is similar to the computer installation procedure. The main feature of the procedure is related to the need to connect several video cards to one motherboard. This is where riser extensions come in handy. To fix their placement at a distance sufficient for unhindered heat exchange, you will need racks. They can be purchased at the store or made yourself.

The procedure for installing special mining software is similar to installing application software on a standard computer.

The algorithm of actions is as follows:

• go to the mining site;
• select the appropriate pool;
• Download program;
• open it and enter your wallet number, the name of your farm and your email to receive notifications;
• close the program, activate the farm launch and calculate profits.

Video: How to assemble a mining rig yourself

Coin creation

Launching a new coin is a rather complex task that requires programming skills (or the involvement of specialists). The platform for the coin is created from scratch, or cloned. The Polkadot and Cosmos frameworks allow you to create your own blockchains with minimal knowledge of cryptography.

Blockchain platform codes are publicly available: if you wish, you can simply copy the Bitcoin code, make a few changes and come up with a new name for the coin. Such blockchains and coins are considered “forks”, almost identical copies of existing developments. The Litecoin network and coin, for example, is one of 50 forks of Bitcoin.

Calculation of all consumables

The first item of expenditure is the purchase of the necessary set of equipment, without which a mining farm cannot be assembled. The main components, their purpose and approximate cost are shown in the table.

The next expense item is the installation of service systems, detailed calculations for which are presented as follows:

1. Forced ventilation of the room from built-in fans, aluminum corrugation and temperature sensors. The approximate cost will be 15,000 rubles.
2. Power supply from cable, meter, circuit breakers and network wattmeters. Their purchase will cost 18,000 rubles.
3. Burglar protection and a video surveillance system will protect valuable equipment from intruders. However, this will require at least 15,000 rubles.

It is impossible not to take into account the costs of electricity consumed by video cards. For the video cards used in the example, the meter readings per month will increase by approximately 1800 kW. Multiplying this amount by the cost of a kilowatt-hour, we get an amount of 1,650 rubles monthly to reimburse energy consumption.

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Feedback on a business plan for cryptocurrency mining

In order to attract a private investor, I needed a cryptocurrency mining project. I liked everything - ease of use, quality of the calculation part, which you can easily change yourself, and most importantly - the price . Your company's services allowed me to calculate the costs of my project and plan the time frame for their return. At the moment, we have been able to attract investments worth 19 million rubles. I will recommend you to my friends.

Leonid Krotovsky, individual entrepreneur, Krasnodar

Is it possible to start this business without investment?

If the financial possibilities for starting in the world of cryptocurrencies leave much to be desired, you can use options for earning money in this area without investments:

1. Using your own computer with powerful video cards (at least two) in your free time from your main job (at night, when everyone is sleeping, or during the day, while everyone is at work). However, you can’t expect a lot of money, which is why mining farms were created, the number of video cards in which starts from 8.
2. Registration on specialized faucet sites, where users are awarded a minimum number of digital coins at a certain frequency (every 5 minutes, once a day, etc.) for performing simple actions (entering captcha, viewing advertisements, etc.). Withdrawal is possible when a threshold value is reached, but it is difficult to calculate when this day will come.
3. Cloud mining involves providing new users with bonus cryptocurrency capital. The calculation is that while getting acquainted with the site, the user will not want to withdraw them, but will continue to invest here.

Terminology

If you have heard the words “mining” and “bitcoin” and feel that they will somehow help you get rich, but do not understand how, first understand the terminology from simple to complex.

Cryptocurrency is a digital currency that appeared in 2010. It is created by processing online transactions using cryptographic methods and is not subject to centralized accounting. Banks, commercial structures and even the state cannot influence user transactions. Data on the quantity, formation and changes in exchange rates are not stored on a single server, but are processed by the computer systems of users connected to the exchange network. Users provide a service to the system, for which they receive a commission.

In addition to Bitcoin, there are other cryptocurrencies that can be more profitable to collect using farms

Blockchain is a technology for processing information in blocks. All user transactions in the cryptocurrency network are grouped into blocks, and blocks into chains, parts of which are processed by computer farms. The greater the power of the farm, the faster it catches and processes the chain, which means it generates a greater amount of currency.

Bitcoin (btc) is both a payment network and one of the types of cryptocurrency, the emission of which occurs as a result of processing user transactions by farms. The minimum transferred value is 10–8 btc, it is called “Satoshi”. In addition to Bitcoin, there are other cryptocurrencies such as LiteCoin, Dash, Ether.

A farm is a collection of several video cards connected to a computer connected to an exchange network. Around the clock, the farm automatically processes information about user transfers online, for which hundredths of a cryptocurrency are transferred to the owner’s e-wallet. This process is called mining - essentially, “growing” cryptocurrency out of thin air.

An example of how Bitcoin works: Petya transfers 1 bitcoin to his friend located in any country through the payment system of the same name. The transfer data is formed into a block, which is processed by one of the user farms connected to the Bitcoin payment network. For this, the farm owner receives a commission generated by the system.

Income and payback

The payback of your project largely depends on the chosen digital coin

The blockchain has its own unit of measurement - sol, which is what miners are looking for. In the example considered, the video cards at maximum overclocking are capable of delivering 770 sol each. However, the maximum is an unattainable parameter. As a rule, the graphics processor operates at 80%, which allows us to talk about performance from one video card of no more than 650 sol. The total production for the day will be about 5200 sol.

Daily earnings in cryptocurrencies depend on the type of digital coin chosen . It should be done taking into account not only stock market trends, but also with an eye on the capacity of your mining farm. Having decided on the choice of coin, you can approximately calculate the average daily earnings through available online services. In the example considered, it will be about 1800 rubles.

To calculate the duration of the payback period, it is necessary to divide the costs incurred by the calculated daily earnings. In our example, 291,550 (equipment) + 48,000 (service systems) / 1,800 (daily revenue) = 190 days

However, the calculated indicator can only serve as a guide, as it will vary depending on the magnitude of the following factors:

• rate of the selected cryptocurrency;
• dollar exchange rate;
• farm failures;
• the need to replace failed elements of the mining farm, etc.

How to use profits in Bitcoins

Bitcoins can be used to purchase goods and services from sellers who agree to accept this currency. The commission for the transfer is set by the recipient of the service - the higher the commission, the faster his transaction will be processed. Transfers without commission are not accepted, as their processing time cannot be determined. The recommended commission amount is suggested by the payment system. Bitcoin can be exchanged for regular money at an online exchange service that accepts digital currencies.

Bitcoin is not the only cryptocurrency that can be collected online. Litecoins, Peercoins and Doge are gaining popularity. The Ether currency rate is increasing. If you correctly prepare several farms that collect “coins” using different algorithms, and figure out which currency is profitable to exchange at what moment, the equipment will generate income.