Bitcoin mining not only costs a lot of power, but it’s also loud. Many people in Russia still want to mine Bitcoin – but not necessarily in the living room. Then whats the solution for this problem? Bitcoin mining hotels.
Bitcoin mining is still a profitable business. If the electricity costs are reasonably portable and you have the right equipment, you can have a nice side income via Bitcoin mining. However, as the computation steps in mining become more and more complicated, the computers also need much more power. As a result, the mining devices are not only bigger, but also louder. In Russia, many people still want to support the Bitcoin, Blockchain and operate mining. There are now Bitcoin mining hotels.
Since the beginning of the year, the number of hotels in Russia has increased eightfold. These have the advantages of not stifling miners in the bad air or being ripped off the bed by the noise. Igor Zartdinov, CEO of Cryptocurrency Fund ICG, explains the principle of mining hotels:
“THE PREMISE MUST BE DRY AND PERFECTLY-VENTILATED TO AVOID THE DEVICES FROM OVERHEATING, WITH SECURE, FIREPLACE-EVIDENCE POWER PROVIDE TECHNIQUE”
Bitcoin mining in the hotel is worth it?
The functionality is actually that of a hotel. Potential Bitcoin miners rent a space. The price varies between 2,550 rubles ($47 USD) and 3,700 rubles ($65 USD) per month. In addition, you still have to pay the electricity bill, which may be slightly higher depending on the mining hardware. According to estimates, the cost of a Bitcoin adds up to a total of $ 4,600 per Bitcoin. A business that is quite lucrative at the current Bitcoin rate.
Russia has been relatively positive in terms of regulation in recent months. For example, the largest country in the world announced a legalization of trade in cryptocurrencies, and the mining of cryptocurrencies was also welcomed.
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