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Crypto News | Cryptocurrency Guide

How to Save Your Crypto Mining Business During the Global Energy Crisis

Author

John Asher

Tags

Reading time

3 mins
Last update

Author

John Asher

Tags

Reading time

3 mins
Last update

Author

John Asher

Tags

Reading time

3 mins
Last update

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Some crypto miners believe the global energy crisis will put an end to their business. Others consider it a new amazing opportunity and have enough courage to overcome the challenge.

Pessimists complain about the fact that their revenues have plummeted. The rewards that people get from mining are not enough to compensate for their expenses on electricity. No one knows for sure when the situation will change for the better if it ever will. Panic victims begin to sell both their rigs and their Bitcoins. Consequently, the price of BTC goes down. 

Optimists realize that the total volume of the Bitcoins that can be mined remains the same as it was before the crisis. If many miners quit the game, it means the rewards will be distributed among a smaller pool of participants. If you keep on mining, you might be able to earn more than before! To adjust to the new conditions, you should find a way of cutting down your energy expenses. And that’s the trickiest part.

Where to Relocate Your Crypto Mining Facilities during an Energy Crisis

Even during the toughest times, there are places on the planet where energy remains relatively cheap. For instance, try to turn your eyes to post-Soviet countries — namely, Armenia. The local government fully understands the importance of new technologies for the state’s progress. It supports innovative initiatives by issuing smart laws and optimizing taxation. In 2018, ECOS Free Economic Zone was created in Armenia to promote and develop the blockchain sector and high technologies.

Here are the most compelling arguments in favor of moving to ECOS zone:

  • Its territory occupies 2.2 ha
  • It’s ready to welcome over 20,000 mining devices right now
  • The zone features a 60 MW-capacity data center 
  • In the next few years, an extra 200 MW can be added
  • Stable high-voltage networks enable you to claim almost 100% up-time electricity
  • You won’t need to pay large sums to prevent overheating — the data center is located in the urban municipal community of Hrazdan, where the average annual temperature doesn’t exceed +4.8°C
  • You’ll appreciate the affordability of hosting tariffs
  • All the crucial infrastructure is operating 24/7: warehouses, a service center, armed guards and regular supplies of spare parts

Over 300,000 users from various regions of the planet have already joined ECOS mining ecosystem. Feel free to become a member of this thriving community! It doesn’t matter where you’re from. Both retail and institutional clients are welcome.

ECOS team can provide you with top-notch mining equipment. They will help you purchase a modern and powerful rig from Bitmain, one of the most reputable manufacturers on a global scale.

Do you rely on the services of some other data center? Then, ECOS team will assist you with transferring your mining business to Armenia. The local professionals will test and install your equipment. They will provide 24/7 maintenance to it. It will be easy and convenient for you to control the mining process through an app on your smartphone.

And now, the cherry on top! After relocating your business to ECOS zone, you will be exempt for 25 years from the taxes on:

  • Real estate
  • Property
  • Import and export
  • Income
  • VAT

Most part of your revenue will go straight into your pocket and you won’t need to share it with anyone. By today’s standards, it’s a rare privilege that very few territories can grant to people.

Final Thoughts

The global energy crisis might seem a disaster to pessimists — but it opens impressive opportunities to those crypto miners who know how to optimize their business. Consider relocating your facilities to ECOS Free Economic Zone to save on energy and taxes. You’ll benefit from the local end-to-end infrastructure and will keep on making profit on Bitcoin mining.