Topic: Willing to lease 27 acres of land for bitcoin mining (Read 8500 times)

https://www.facebook.com/cryptohardminingindia/

Their fb page provides not much info about the service but they have an address in Chittor & a phone number, which i wish somebody would visit and verify.

However, their website http://indiacryptomining.com/ is full of red flags!

What is the warranty for those solar panels? This will be china made so what is the durability of the product ?

thank you sir, when solar purchased in india for 10 kv we need nearly 6-7 lakh but when solar panels are imported from china the cost will be around 2 lakh i saw in chinese website they are selling solar panels controller batteries and everything but batteries can be purchased here at low price we cannot export batteries except batteries remaining everything can be imported it will cost around 1.5 lakh only

yeah ,running under solar power, it would be great,but dont know the risk until 2140  ,but implementing solar panels for the first time are a bit expensive , if u can afford that then it is game on. sure i will check your FB page and sure will follow your moves.

Thank you for your support sir, you can find all the details regarding the farm can be seen in the fb page link i had previously posted. we are soon getting good investement, do not worry sir when running on solar bitcoin mining is never risk until 2140 .
Thank you

good move.. i just want to know the development and structure regarding your farm



the location is in TN, and yes i am the sole owner of this property .as long as the price of BTC is not progressing it is in fact a very big risk to invest anything huge from my part and so i am not interested to invest and that was my conclusion ,but i am willing to lease my land if i find a suitable individual or group who is willing to invest in mining  .

What is the exact location?
Can you investigate if electricity is available 24 hrs?
Are you yourself owner of the land or its on lease?
What is the status of research reached till now?

your intiative is very good sir, we are planning to establish huge farm and run miners or solar so that roi is just  9 months for more details please visit our facebook page and contact us https://www.facebook.com/cryptohardminingindia/ we are looking for investors if interested please contact us phone number in the facebook page

thanks legendster and skang and other for their input. the thing i was holding back from starting a bitcoin farm a year ago is its unstable price in the first place ,i do have some coins at my disposal . as long as there is no regulation regarding the currency the prices can be manipulated as we can see from other coins in recent weeks, i expected this a long back .its just like wall street during 1870 to the early 19th century. anyone can manipulate the price that is the reason from a financial stand point in my opinion is not a good market.
as i said i am willing to lease the property if someone out there is interested in starting something ,lets say ,be it anything. have any idea you can PM me.

i dont want to sell property to purchase coins to be honest i really thing the price of bitcoin is inflated , and its really a monopoly in the hands of a few big miners who controls mining, that have to change.

@ newIndia regarding chip design ,long back i even had a plan designing chips , met with some companies regarding it and i didnt hear a positive response from them ,at that time bread board design was even better  and the price dropped just like that, so didnt bother after that.

1. Are you calling me a crab? 

I am not pulling anyone down here, just stating facts, like the rest of the community members here have done, don't like the advice you get from us crabs, fine, be the salmon and end up in a bear's stomach. And if you are really lucky to make it to the end and lay your eggs, great! Now you're too old and will die from exhaustion.

2. About providing leads, sure I can, being a liaison that is part of my job, but that would mean you'd have to talk about your projects with me and I'd be approaching my contacts, once someone shows interest then you deal with them directly, and we're not talking about some btc's here, we're talking about a commission based on the entire deal amount that gets closed. What, how much, what's the process, for all that you'd have to initiate a private conversation.

A last tip though, keep in mind I am now a crab.

1. If you really want to do mining in such a scale where 27 acres of land may be required, start with chip designing or at least sale a part of the land and co-own a fabrication lab.

2. If you just want to convert the 27 acre land into profit off bitcoin, just sale the land and buy bitcoin. Hold the coins till 2020 block halving.

M&A,can you provide any leads in return of of some Bitcoins.
Firstly I would not want to work with NASA or any big companies.
I Am a architect hence I am confident enough to know how to get a passive cooling done in a built form.
I need investors as I have 2 big ideas.I think we as a country need to embrace change and get out of this crab mentality of pulling other down.

Yes, temperature is not the 'only' issue but it is 'the' issue. Every farm has the same equipment and comparable electricity rate so the difference in profit essentially boils down to 2 key factors:
1. Less money spent on cooling
2. Contacts & connection with manufacturers to receive ASICs as soon as possible (when a new faster ASIC launches, even a few hours of early mining can mean a lot). <-This is why mining is called an arms race.

But hey don't get me wrong here there are hundreds of opportunities especially with international merger and acquisition agents who can best help you if you have a lot of land available just collecting 'dust'. Such deals can be very lucrative and provide a substantial boost to the economy of the country.
I don't have the money nor the connection with such people with so much available space but I do have some M&A connections who in turn have clients who are investing into startups here in India and are on the lookout for new 'land' which in states where the state govt. has some kind of extra benefits for such international projects.
So yeah if you have a lot of land and dont want to go and build a real estate project, there are surely other more new age options available.

Forgetting rain? wind? dust? If you are able to overcome these issues including changing temperatures optimum available energy for use and backup, then you're better off collaborating with NASA they could use your expertise in their next MARS mission. I'm serious. You could make much more than what you can with bitcoin / altcoin mining.

Basically having a lot of land does not have a direct relation to a profitable mining.

So you are sayin ,
the temperature is the only issue here right..
what if we can achieve a temperature optimum for minin indoors will it be suitable then for mining.

Bitcoin Mining requires following resources - 1. miners(asic) 2.Mining equipment(cooling, rackmounts, etc) 3. energy(electricity) 4.labour(physical and sysadmins)

As you can see, mining does not require much land since units can be mounted vertically. But land is wealth nevertheless, so you can use your land by either converting it to a source of money or a source of energy.

Source of money: Simply lease out the land for anything and use the income to buy the above resources.
Source of energy: Use biomass by growing high calorific value wood per unit area like miscanthus or a biofuel crop and convert it onsite into energy. This requires much much less investment than solar or wind system and is also much much more environment friendly than solar.

All profitable large-scale mines are 1. At a cold place 2. Near a cheap private energy resource
Land being in South India is a big problem because cooling costs would be huge! Since everyone has the same mining equipment and near free electricity, the profit comes down to cooling costs.

I will highly advise you to not do this if you're motive is purely regular profit. Only do this if you feel that even if you are incurring losses for 6 months, you will still continue bcoz you believe you will still make profit due to bitcoin price rising a huge amount. That is a very big risk.

If you still want to do it, then lease out your land for best possible local application and with the money start an operation in a hill station, near a private hydroelectric project, with good internet.

(PS: There is a thread by a chinese miner who is coming to India in feb, you should talk to him)

I am interested to collaborate in this.

Solar powered bitcoin farming sounds a good thing for india

Is your 27 acres outside city limits ?

apparently there is not much money in generating solar energy, unless you have govt. subsidy and on top of that have someone to sell the power to at a good price. the rate of return and duration of return do not warrant the large amount of investment required.

Ok here are some suggestions for you to consider more than anything.

Bitcoin mining is not what it was back in 2010 or during the peak trading bubble in 2013 and with the price swings and the big issue of BTC's legal status in India poses a serious threat to anyone looking to get into BTC mining.
I am going to parrot something which someone - a big time investor in BTC - told me about investing in BTC; "In bitcoin mining there is no exit strategy for investors especially big investors, the moment the price swings for the worse there is nothing else you can do other than panic sell everything. There is no way to even break even the same amount if the price swings or the gv. cracks down on the setup" - which in this mega scale they WILL.
Imagine someone setting up a huge bitcoin farm in 2013 with 1 BTC = $1000 price point in mind, they could be still waiting for a day to at least break even or have already liquidated their assets for a fraction of it's cost.

If you really however prep your acres of land for future bitcoin business then create a solar / wind power generation hub in these lands.
Maybe even create a market for the bitcoin to be used in, right now there are bunch of exchanges and investors mining bitcoin making some profit but all the while standing on the edge of a sword.. barefooted.

With your power generation hub as the backbone many more investors would want to jump into your wagon because you are not just trying to earn some extra cash by Bitcoin mining - but also helping to solve a big problem in India, i.e by improving the Power generation & related infrastructure of that area.

I hope it made sense.