With the rise of cryptocurrencies like Bitcoin and Ethereum in recent years, crypto mining services have earned considerable attention. But getting the best value for your mining investment is about more than the sticker price of the service. As crypto mining has become more popular, investors have realized that pooling their efforts results in more steady profits. This has led to mining farms, large facilities dedicated to mining cryptocurrency and equipped to handle large amounts of electricity and heat.
Selecting a Mining Service
Over time, some very cheap services have emerged, ranging from $55 per kilowatt in China to $100 per kilowatt in the United States. This price might seem attractive at first, but it gets a little suspicious when you recognize that it costs around $95 per kilowatt just to properly equip a data centre with power and cooling.
For example, RekDeck once had a customer relocate 160 GPUs — worth more than a million US dollars — to our data centre from a cheap mining farm. The customer had bought the equipment brand new, but when we received it from the cheap farm, it smelled like urine and was full of chicken feathers inside, leading us to believe the equipment had been kept in someone’s barn. The lesson: with mining services, you get what you pay for.
By sending your equipment to a facility that doesn’t have proper airflow or cooling, you run the risk of your equipment being damaged beyond repair after only a fraction of its useful life. And even if your equipment still works, if it is constantly shutting off due to overheating, you are missing out on time that could be spent mining. Before you decide to invest your money into a mining service, make sure to visit their facility first.
Cloud Mining: Is It Worth the Hype?
Recently, online companies have been offering cloud mining, where instead of owning the mining equipment, you own a contract that mines the cryptocurrency of your choice for two years. Cloud mining can be quite convenient and sometimes profitable, but there are a few issues with it, the first one being that you don’t get the full value out of the equipment. GPUs usually have an expected life of about five years and can last even longer if cared for properly.
Another issue with cloud mining is that it is often based in relatively remote locations. How much money would you put into a company that has no transparency in a foreign country with no jurisdiction? Getting your money can be a hassle and if something goes wrong, you won’t have a lot of leverage.
The RekDeck Difference
With our cryptocurrency mining data centre located in Princeton, NJ, RekDeck is United States-based, any client can visit the facility, and we send our clients a convenient monthly cheque with their earnings. And the best part is, instead of having a contract that expires after 2 years, you can profit from your equipment for its entire useful life.
With RekDeck, you can be confident that your mining equipment will be taken care of like it is our own. Our services include hosting, cooling, and security, all within a specially designed crypto data centre. We also offer management services, where we will optimize, maintain, and monitor your equipment to ensure it is at top performance, and trading services, where we will trade your mined cryptocurrency at the optimal price.
And in addition to the standard per-kilowatt hour payment system, you can also choose to pay based on the profitability of your mining operation. The coins mined will be sold immediately and any additional profits over the mining and maintenance costs will be split.
If you are looking to make an investment in cryptocurrency mining, contact RekDeck today via the form below or call us at 1-800-CRYPTOCURRENCY. We would love to tell you more about the services we provide and even give you an in-person or virtual tour of our crypto data centre in New Jersey. With RekDeck’s mining services, you can enjoy 100% passive income and be confident that your cryptocurrency investment is in good hands.