What is a Bitcoin mining farm?

Bitcoin is a cryptocurrency located entirely online and unrelated to a central bank. Its origins are surrounded by mystery and very few people. The mining of Bitcoin is done by powerful computers that solve difficult mathematical problems. The luck and the work required by a computer is one of those problems that is like digging gold in the ground while digging in a sandbox. The Bitcoin miners add the last valid transactions in blocks. The blocks are then entered in the public record in chronological order, called blockchain. The blockchain is used to confirm that the transactions have taken place within the network Bitcoin nodes. Mining is intentionally designed to use a lot of resources and is difficult, and each block must contain proof of work, checked by other Bitcoin nodes each time they receive a block, because bitcoin mining is essentially a guess, which makes it possible to produce hashes. Today, the bitcoin mining is so competitive that it does not can be exploited cost-effectively with the latest ASICs. When using desktop computers, GPUs, or older ASIC models, the cost of power consumption actually exceeds the revenue generated. We have reached the point where Bitcoin mining farms have become the majority of the network. Bitcoin mining farms are places in the world where mining occurs on a large scale, usually where energy is cheap. Mining farms therefore have computers, servers and cooling devices on their premises. Some parts of China see many centers of this type because of their hydroelectric power, but the country is seeking to reduce the exploitation of bitcoin, which could send operations elsewhere. Canada and Iceland are two Bitcoin mining possible places where energy is inexpensive because it comes mainly from renewable sources such as wind power and hydropower. The Bitfury Mining Facility in Georgia uses a naturally cold climate to reduce operating costs and keep mining units up and running. There is no doubt that as the value of cryptocurrencies continues to rise, we can expect to see more Bitcoin mining farms unveiled in the near future.

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