Russia: Bitcoin mining at the hotel

Bitcoin mining not only costs a lot of power, it’s also loud. Many people in Russia still want to mine Bitcoin – but not necessarily in the living room. The solution? Bitcoin mining hotels.

In itself, bitcoin mining is still a lucrative business. Are the electricity costs reasonably portable and you have the right equipment, you can set up via Bitcoin mining a nice side income. However, as the calculation steps in mining become more and more complicated, the computers also need much more power. (Why this is so, is here .) As a result, the mining devices are not only bigger, but also louder. In Russia (and not only there), many people still want to support the Bitcoin Blockchain and operate mining. There are now Bitcoin mining hotels.

Since the beginning of the year, the number of hotels in Russia has increased eightfold. These offer the benefits of not stifling miners in the bad air or being ripped off the bed by the noise. Igor Zartdinov, CEO of Cryptocurrency Fund ICG, explains the principle of mining hotels:

“The important thing is that the environment is dry and well ventilated. This keeps the equipment from getting too hot. This is ensured by a stable, fireproof power system. “

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Bitcoin mining in the hotel is worth it

The functionality is actually that of a hotel. Potential Bitcoin miners rent a space. The price varies between 2,550 rubles (about 36 euros) and 3,700 rubles (50 euros) per month. In addition, you still have to pay the electricity bill, which may be slightly higher depending on the mining hardware. According to estimates, the cost of a Bitcoin adds up to a total of $ 4,600 per Bitcoin. A business that is quite lucrative at the current Bitcoin rate .

Russia has been relatively positive in terms of regulation in recent months. For example, the largest country in the world announced a legalization of trade in cryptocurrencies, and the mining of cryptocurrencies was also welcomed. Most recently, Putin was even suspected of having participated in the Venezuelan Petro .

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