Topic: Any miners from the UK want to start a mining farm in Iceland? (Read 1662 times)

At the moment roughly 5 cents USD right?

This sounds very interesting, maybe another day I'll have what'd be required to make your idea successful. Until then I wish you luck and hope to hear more about this project. Have you taken into account the price of electricity in Iceland? And I guess you chose the area because it's cold and would require less coolers and such.

Will you set up a hosting company in Iceland that sells his rackspace to another company on some shady island, and the real mining company or will the whole company be in Iceland? Just selling rackspace to some other company would give some more profit and isn't illegal to my knowledge.

Hi V

please check your inbox

Hello,

I'm new to this forum. I'm thinking about starting a mining farm in Iceland, starting September 2016 (depending on the profitbility after the Bitcoin halving in July 2016). I wouldn't mind going 50/50 on the hardware/profits and then after getting ROI, buying our own hardware/going separate ways.

I'm open to anyone really, but I figured UK miners is easier to meet up and discuss the business plan and easier to build trust. I am not sure, but I think signing a legitimate contract, witnessed by a lawyer, about 50/50 ownership, logistics and profits etc would be good idea. I also will not be living in Iceland, I can maybe visit  for IT maintenance bi-weekly or monthly, due to commitments at university etc.

At the moment I am probably looking to invest around £10,000-£16,000 by myself, but I figured profits would be greater by partnering up and getting a £30,000 mining farm!

Anyways, I'm still researching all of this and shall keep investigating the paperwork required to start up a business in Iceland as a British national, Data Center rental prices in Iceland and hardware. I might see if I can get a business loan as well, who knows.

Let me know if you might be interested! I think it could be quite good. If we got a 100,000-200,000 GH/S rig that would be still quite good profits per month, even if split 50/50.

Thanks

V.