Let’s talk about mining equipment hosting
A lot of people are looking to get into digital currency. There are many hoops you must jump through to begin mining cryptocurrency. One of the most important hoops is deciding whether to mine digital currency at home, in the “cloud” or use an IDC (internet data center). To help you decide, let’s look at a couple of important points.
Hosting decisions depend on the digital currency you want to mine
When Bitcoin was first launched in 2009, it was possible to use a home computer to create new bitcoins. But now that Bitcoin is over 12 years, so it is no longer true. Bitcoin requires very expensive equipment and massive amounts of power to be able to mine. It is possible to join a mining pool, but pools share their coins among all participants, and your share is based on the power/capacity of your equipment. Joining a mining pool without a “supercomputer” will result in very low earnings, most likely less than what you’re paying in expenses. Is it still possible to mine Bitcoin at home? A hesitant yes. Is it recommended? A strong no.
It is possible to mine some altcoins at home. However, most home computers require major GPU hardware upgrades to efficiently mine digital currencies. There is a good amount of software work needed as well, so home altcoin mining is best only for computer savvy miners. Many altcoin sites also suggest that miners join mining pools to give them a better chance of earning coins/tokens. Is it possible to mine altcoins at home? Yes, if you know what you’re doing. Is it recommended? Not for most people.
Is it possible to mine for Filecoin at home? Filecoin has different mining requirements than just about any other digital currency. The Filecoin Network is creating decentralized data storage that must be available 24/7/365. If the data is not available 24/7/365, the network penalizes the miner/storage provider severely. Therefore, for Filecoin miners/storage providers to mine at home, they must have an extremely reliable power source and the sophisticated equipment needed to meet Filecoin’s requirements. Is it possible to mine Filecoin at home? A very hesitant yes. Is it recommended? A very strong no.
There is another option
Cloud mining are remote data centers dedicated to mining that sell or lease computer power to digital currency miners. Cloud mining eliminates the need to install or run any hardware and related software. Cloud mining firms enables people from anywhere in the world to participate in cryptocurrency mining for an agreed upon cost. Since this form of mining is done via cloud, it reduces equipment maintenance issues or direct energy costs.
There are advantages and disadvantages to cloud mining. Some cloud mining advantages include not having to deal with buying, managing, and running your equipment, keeping up a solid Internet connection, managing power outages, etc. Several cloud mining disadvantages are that the user must trust the cloud provider in a space ripe with scams and frauds, the user is not in control of the equipment or how it is used, and that your costs can possibly be more than your profits.
Why Cloud Rush uses an IDC
Because of the strict uptime requirements that Filecoin requires, Cloud Rush believes our Filecoin miners deserve the best hosting service available. We host our mining equipment with Cyxtera, the second largest IDC in the United States.
Cyxtera provides many services that are crucial to our miners:
- 100% Uptime SLA
- Energy Star Certified
- Temperature/humidity-controlled environment
- 24/7 equipment supervision and maintenance
- Software optimization
- Strict security protocols
- And many others
In addition to excellent hosting services, Cloud Rush has:
- Low mining hosting and equipment pricing
- Outstanding Filecoin token output
- Cloud Rush App that enables you to check your daily output 24/7 and stores tokens in your personal wallet
- Many mining plans to choose from
Disclaimer: This blog is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.