Bitcoin mining is profitable, but only so long as your computers have the power they need to keep the computations of ever more complex equations rolling along. As the Bitcoin mining industry evolves, it's necessary to evolve with it; otherwise you may find the pot of gold at the end of the equation just out of reach. Over the coming years, you can expect bitcoin miners to make many changes. Reliable standby generator systems will be at the top of most lists.

Renewable Power is Reliable (to a point)

Annually, bitcoin mining operations around the world consume more energy than the entire country of Norway. And, it is expected to continue increasing for the foreseeable future. With global energy supplies significantly strained by pandemics and wars, everyone from data center operators to bitcoin mines are searching for renewable energy sources to cut their costs and reduce their carbon footprint. Many are installing solar or wind systems, while others are bonding together to form cooperatives and establish microgrids.

Proving Your Stake May Reduce Power Usage

One of the reasons Bitcoin mining requires so much energy is because it's built around the proof of work concept. This means that everyone rushes to solve the same problem, thus requiring the consumption of vast amounts of energy. Alternatively, Ethereum and other cryptocurrencies are moving towards a "proof of stake" model wherein miners would be required to put up a small amount of cryptocurrency before attempting to solve equations. Should Bitcoin move in this direction, then Bitcoin mining will become less energy-intensive and potentially easier and more profitable for rig operators.

...and Continuity Will Be Front and Center

Bitcoin mining requires reliable power, and that means that mining operations can't be disrupted by blackouts and brownouts. For this reason, there is a rush to invest in standby generator systems that can keep the computers operational when the grid falters and fails.

However, it's not as simple as running out and buying a generator to plug in when the power goes out. Selecting the right generator is essential for ensuring your facility has sufficient power to keep your servers running. At Gen-Tech, our EGSA-certified technicians can help you forecast your power needs and select the ideal generator for your size, location, and estimated future power requirements.

We encourage you to contact Gen-Tech to learn more about the standby generator systems we offer and the services we provide that can keep your Bitcoin mining operations rolling along even when rolling blackouts threaten to disrupt your day. We are always ready to answer your questions and help you make the best decisions for your business.