Topic: How Much Would it Cost to Setup a 1MW bitcoin mining farm? (Read 2154 times)

This is a decent estimate. 

Physical security and full time staff.  You will need 24x7 staff.   So very location based on this.    And electricity cost is very location based.

The honest anwser is it is something you won't do unless you have a lot to invest.  A lot come here and ask about it but very very few build a farm like they ask about.

Bank on $500,000 - 700,000 per Petahash and you won't be too far out.

That assumes you can find a company willing to sell you the mining equipment at a reasonable cost and don't forget about physical and internet security systems.

I am wondering what is the cheapest possible cost to setup a 1MW bitcoin mining farm.

1. Let's say instead of building a brand new construction, we will find a perfect used industrial warehouse to lease, which has all the needed HVAC, fire suppress system already installed.
2. Let's say our potential warehouse locates at Sweden, Iceland or north part of Canada where we get more than 8 months of free cooling
3. So the rest cost will be shelving and racks build-up, electric cable laying, network layout, anything else?
4. I am worrying about the power system which needs to provide steady 1Megawatts, since I don't know anything about electricity and power system, I don't know how much we will spend on building a power system that reachs our standard. And I don't think we can easily find any place with 1MW power system already installed for us to use.
5. Assume we are going to fill our new mining farm with bitcoin miners at power efficiency: 0.2J/GH, so at 1MegaWatts power demand, we are talking about at least 5PH/s hashpower generated by those miners, and let's assume every one of those miners hash at 5TH/s, then we will have 1000 of them
6. Then let's say (I know it's a lot of "let's say", I guarantee you it's the last one ) we build shelving and racks that each can hold up to 50 miners, so we are looking at 20 of those kinds of racks, then how much would it cost for those racks? And how much would it cost for electric cable laying and network layout for those miners?

So what do you think it's the cheapest possible cost to setup a 1MegaWatts bitcoin mining farm like this?