Mining cryptocurrency is becoming a lucrative business, leading an increasing number of people to invest in mining services. Many of these people choose their mining service based on the lowest costs, particularly the lowest cost for electric power. But will choosing the cheapest option available really be the most profitable mining investment in the long run?
When you are shopping for a mining service, it is important to consider all of the variables to make sure you are not investing in a dubious service that will be profitable only for the first couple of months. One of the most important considerations is the buildout quality of the facility. If the mining farm company does not have a construction loan to repay, there is cause for concern. Without allotting for a proper buildout, there is a major risk of the facility being a fly-by-night fire hazard, which can result in your equipment underperforming, or worse, being damaged. There are countless examples of poorly built or managed warehouses and data centres going up in flames.
Another important factor is staffing. A mining farm must employ people who are adequately trained to service your equipment. Otherwise, your equipment may experience issues that go undetected and could even burn if the equipment is not properly serviced. If you want your valuable equipment to be housed in a facility where it could overheat or burn, go ahead and choose the cheapest service possible.
A mining service that is worth your while will have adequate investment in its buildout, electricity, air conditioning, and onsite smart hands. Yet some mining farms in Canada charge just $80 per kilowatt. While this may appear attractive at first, consider the fact that proper buildout and electricity will cost, at minimum, $110 per kilowatt. Factoring in air conditioning, staffing, and the fact that no one will work for free, the minimum a proper data centre will charge is $125 per kilowatt; a colocation data centre will usually charge $185 per kilowatt and above.
ALogically, a mining service priced at $80 per kilowatt cannot be adequately equipped to be a profitable long-term investment, especially considering that the person offering the service needs to make a profit. Settling for a cheap mining service can put you at risk of your equipment burning, damage due to lack of proper filtration, hidden service costs, temporary shutdowns, or even the mining farm going bankrupt and taking your equipment. These could result in unprofitable mining, damage or loss of your valuable equipment, or opportunity cost of lost mining time.
RekDeck provides you with a properly built colocation data centre, electricity, air conditioning, and qualified on-site staff to ensure that your valuable mining equipment is running smoothly and generating returns. All of this is included for a per-kilowatt price of $155. Although you could settle for a cheaper service, you will notice the difference on your bottom line. With top-of-the-line hosting and maintenance, RekDeck will give you the best value for your money. We also offer mining & equipment management services so you can have 100% passive income and insurance options for your peace of mind. See the adjacent picture for a sample quote.
If you are looking for a cryptocurrency mining service that will generate the highest returns for your money with minimal effort required on your part, choose RekDeck. To learn more about RekDeck, watch the video below