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Expansion of crypto mining farms around the globe

Expansion of crypto mining farms around the globe

Crypto Farms are hitting the headlines every week and interest in mining has become explosive. Meanwhile, certain companies tend to build their own huge mining farms and strive for bigger profits. Let’s have a glance at several major crypto farms and focus on recent trends.

Bitfarms is a Canadian crypto farm that has elaborated progressive and eco-friendly solutions to minimize the environmental impact of crypto-mining. The company’s facilities are powered almost entirely by hydroelectric energy, so its ultimate goal is to reduce electricity costs by 25%. Bitfarms invests millions in mining all over the world and has already expanded to the US and Argentina.

Investors prefer not only to hold cryptocurrencies but crypto farms too. Canadian mining firm Hut 8 reported that it holds more than 5,000 self-mined bitcoins. Recently they purchased 10,000 of Nvidia's new mining processors, allowing the company to mine at a cost of under $3,000 per Bitcoin.

Other companies strive for global growth and increasing mining capacity. A good example of such a trend would be China-based The9 which will deploy more than 10,000 Bitcoin miners in the USA and another 14,000 in Canada. The9 also moved part of their business to Kazakhstan to expand their crypto farm globally.

As decentralized networks evolve and mining farms grow exponentially, holding crypto turns out to be a perspective strategy: mining can provide substantial rewards, a good example of which is a 2021 all-time high revenue record. This could be a solid argument for those who can’t make up their minds to start mining. Everyone can now build their mining farm without prior knowledge or special equipment. Using the CryptoTab Farm app is one of the easiest and most risk-free starting options. Transform your idle computers into a profit or use Pool Miner if you don’t have your own PC. Isn’t it encouraging?