Let’s admit it, the lure of making a fortune in cryptocurrencies has an appeal, right? Just look at all the successes out there. And one way to get in on the action is by mining coins, or in other words, becoming an official part of the blockchain for your currency/currencies of choice. Here’s a short and sweet definition:
Bitcoin mining is the processing of transactions in the digital currency system, in which the records of current Bitcoin transactions, known as blocks, are added to the record of past transactions, known as the blockchain.
Pretty straightforward. You provide computing power to help process transactions and get paid for your trouble. So, what does it take to get into the game? Well, if you are thinking of dusting off that old laptop and diving in, think again. To process transactions, you are going to need a fire-breathing PC. Finding prices and specs for mining PCs is easy. The base cost appears to be around USD 1,000 with servers running over USD 10,000+USD. Cryptosource.org has a nice article on how to dive into the shallow end of the crypto mining “pool.” The article states it will show you how to build that $1,000 starter machine.
But why go in at the low end? Why not take the plunge in a big way? Well, you are in luck if that is your dream. A post on a recent Man of Many blog/email featured just what you need, the BlockBox Shipping Container Bitcoin Mining Datacenter. According to the post, the BlockBox houses 176 air-cooled BitFury bitcoin mining servers in a 500 square foot, air-conditioned container. The BlockBox can be set up practically anywhere, and several can be linked together to create your very own mining "farm." Who knew going big in cryptocurrency mining would be so easy?
The BlockBox website provides more details including a brochure with the complete specifications. Setup takes two days, and all that is needed at the site are proper footers to keep everything nice and stable along with power and an internet connection…a really big internet connection. And perhaps some sort of backup power supply so in the event of a power outage, the mining operation doesn’t grind to a halt.
Oh, you also need around USD 1,000,000. The BlockBox is offered through a profit-sharing arrangement where you earn a 50% share of proceeds after this initial investment has been recovered. “Go big or go home,” might be the mantra here. Just as soon as the Lotto winnings roll in, a BlockBox might be just the thing. Maybe more than one.