Important Updates and Bitcoin News
As always, we’re here to keep you in the loop with regular updates on what’s happening in our facilities. In case you didn't see our Tweet earlier, we are making progress on building out our hosting space to have enough airflow for more miners.
Now, here's where we're at our main facility:
1. CFM Fan Installations
Several 40,000 CFM fans are being installed in the ceiling and walls of our main facility this week. These had to be custom-built and cost a pretty penny. Like everything, they were delayed but are FINALLY done.
We had to remove the dry coolers on the roof that used to be used for immersion mining to make room for these fans. We love the idea of immersion mining, but our facility does not have enough physical space for immersion mining to make use of all of our power.
For now, traditional mining via airflow is the way to go.
2. Custom-Built Panels
We also have new panels being custom-built for us that we paid extra to rush. They should be done by next week.
3. Racking Delivery
Racking will be delivered by next week.
4. New 60a Breakers
We are also ordering new 60a breakers for the existing panels. As the existing ones are somewhat old and tripping too frequently, even when the PDUs are under capacity.
5. Reserve Your Spot ASAP
If you're waiting to be plugged in, the above things are what we are waiting on. The sooner you reserve your spot, the sooner you will be hashing.
6. Downtime Apologies
If you are a current hosting customer, you may have experienced some downtime this past month. This is mostly due to the breaker issues described above and is in the process of being fixed. We are happily compensating for any downtime incurred by our growing pains.
We greatly appreciate your patience in dealing with this. Please try and keep track of hours spent offline and we will make you whole. Once these growing pains are behind us we intend to offer an uptime % guarantee and are still working out the details on this.
Just know that we care more about providing a great and reliable service than about making money, so our default setting is to keep you happy and hashing.
If you do have a miner go offline, the quickest way to get a response is to email our ops team at support@Miningsyndicate.com.
7. More Facilities to Come!
In addition to the buildout of the main facility described above, we are working on closing additional facilities. More details to come!
If you need to contact us, you can do so here - we’re always happy to help!
You can also shop our best sellers and see our catalog of miners here if you’re looking to get started with us or expand your current investment!
Bitcoin Mining Nears Record Pace As Industry Shrugs Off China Clampdown
Some of the top news for BTC this week included the fact that mining the crypto was nearing a record pace despite the recent clampdown on the industry from China.
Large-scale miners haven’t been held back by China’s new restrictions as they have instead moved their operations to other countries. This has meant that the amount of computing power being used to mine Bitcoin hasn’t slowed down as people first thought it might.
The Bitcoin hash rate has increased to 172m Th/s, which is the highest amount recorded since May 2021. The rise in the hash rate indicates that miners are using more computing power to solve the Bitcoin blocks.
However, the downside to this, of course, is the environmental impact which as it stands is a major issue. Moving to other countries to get around China’s new policies doesn’t solve the problem of how much energy is required to mine Bitcoin.
Perhaps the answer to this problem will come soon?
As of December 2021, the USA is the country that dedicates the most computing power to mining BTC. But that doesn’t mean that you have to be in America to be part of the action. Don’t forget, at Mining Syndicate, we make it possible for even the “little guy” to be a Bitcoin investor!