At the dawn of the crypto industry, the attitude of the overwhelming majority of users to digital currencies could not be called truly serious. The same bitcoin for a long time had a reputation as some kind of funny project, without any far-reaching prospects. It is logical that large players, and ordinary users who are little interested in cryptocurrencies, were in no hurry to invest in BTC. The asset was too problematic and unpredictable. The next few years only confirmed this opinion, since the value of Bitcoin was either rapidly rushing up or unexpectedly losing ground. But at the same time, the cryptocurrency was not going to disappear at all, but rather, only gradually strengthened as a convenient alternative means of mutual settlement, and as a source of income. Moreover, the second option implied not only speculation in the market, but also directly mining new coins – mining. However, many nuances remained practically unknown to the general public. For example, the fact that it is not necessary to use the equipment’s own capacities for cryptocurrency mining, because there is cloud mining.
Today it is already difficult for them to surprise someone – there are a lot of services providing services of this kind. If you want to change the name of the computer to use Dwarf name generator this is to use But demand remains at a high level, which confirms the relevance of this area. Is it possible to make a profit by acting not as a client, but as the owner of a cloud mining service? And what should you pay attention to first when planning to do this type of business?
Cloud Mining Planning
- The first is assessment. Before proceeding with the implementation, it is necessary to carefully consider everything. Just desire here is clearly not enough. The situation in the crypto industry is such that a frivolous attitude to organizational aspects and assessing the prospects of the project is fraught with a banal loss of money. And since the amount of investments in mining compared to the times when bitcoin was just starting to turn from fun for geeks into something tangible and profitable, has grown exponentially, the blow to the wallet in the end will turn out to be significantly more significant.
- The second is equipment. Suppose that the calculations of the financial feasibility of launching a project for the provision of cloud mining services have shown its high potential. It’s time to move on to equipment selection. It is best to stay on farms with high energy efficiency rates. This will reduce the cost of electricity. If it is planned to place capacities somewhere in the immediate vicinity of cheap sources of electricity, then energy efficiency issues go a little to the background, giving way to the cost of devices.
- The third is location. Find an object that meets all the requirements of the project, in particular, allowing you to connect equipment, establish its convenient maintenance, etc. Also do not forget about the cost – it should not be high.
- Fourth – installation and operation. It’s not enough just to find a place to place farms for cloud mining, you need to correctly install everything, set up and guarantee trouble-free operation. Particular attention should also be paid to issues of cooling and further maintenance of equipment. Not forgetting, of course, about such a banal thing as the cleanliness of the premises, because it will also ultimately affect efficiency.
Important details of cloud mining
Having dealt with the infrastructure, you can proceed to thinking through the remaining significant details:
- cryptocurrency – finally decide which cryptocurrency mining to offer clients;
- marketing – to think through an advertising campaign, promotions for new members, a loyalty program, etc .;
- the site – first of all, it should be convenient, and the user’s personal account is simple and functional.
The costs and prospects of cloud mining
As for some specifics in the figures, then nothing can be said unequivocally. Orientation is worth the amount that will cost the purchase of equipment, doubled. Usually, such investments in the organization of cloud mining are quite enough. At the same time, keep in mind that the acquisition of several budget farms for the extraction of cryptocurrencies in reality will not bring the desired profit, since the profitability of the project will be minimal, if not disappearing at all. Therefore, it is necessary either to have a certain starting capital, or to attract investors by offering them a well-thought-out business plan