ColdMine, An Introduction

ColdMine is a planned colocation host for Bitcoin mining hardware which features: passive cooling, high security and 95% renewable energy. The company will start lean and rapidly expand, taking advantage of existing industrial infrastructure and the cold Canadian climate. We aim to lead the colocation market in Bitcoin mining for small accounts.

It is very difficult to find a colocation host for Bitcoin miners in North America right now. Most places are sold out, and others are not responding to their email. ColdMine fills a gap in the marketplace by providing high-quality hosting for low-volume orders.

How Bitcoin Is Mined

The process of mining Bitcoin is a race to acquire the ability to solve complex proof-of-work algorithms, using something known as hashing. The goal of any miner is to get the fastest hash-rate per dollar invested. Hash-rates are measured in hashes per second, or–as we are up to trillions of hashes per second now–terahashes per second, (TH/s).

To mine as quickly as possible, the machines run full speed at all times and are never turned off. They will be running like this until the last Bitcoin is mined, estimated to occur in 2140. This is extremely rare for computers, which usually run at less than 30% of their top speed, creating unique challenges in the mining data center.

Learn more: ASIC Mining Technology

ASIC chips inside an Antminer S9, currently the fastest available miner at 13.5 TH/s

Passive Cooling Strategy

The faster a computer processor runs, the more heat it generates. Bitcoin miners run at full speed 24/7, and if we can manage the heat, we can run them faster than the competition. Efficiency per square foot is all about the price of cooling.

In the large cold concrete structures that we are targeting there is ample opportunity to engineer passive cooling solutions using affordable materials and labour. By offering superior cooling at a lower cost we are also able to increase the performance of each individual miner.

Cooling also enables us to maximize the density of terahash processing per square foot within range of our power distribution unit. The further we must run power, the more expensive it gets to set up the infrastructure. Our cooling solution will let us place the miners closer together.

Next Steps

I am in the process of investigating several locations for ColdMine. We will re-purpose existing infrastructure with a cost-effective, pre-fabricated, portable data centre design. Minimum power required on-site: 1 megawatt.

We are building a consumer-oriented Bitcoin mining colocation host with ample power and exceptional cooling. Our brand positioning is the ecologically-friendly mining provider for small accounts.

Target launch in Q2 2018.

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Thank you – Neil