Mining is a tricky business. If you think it’s about putting a bunch of machines in a building and turning them on, think again. Some challenges are well-known, others only raise their ugly head when you are well into the journey.
One of the less obvious challenges is a mismatch of space and electricity capacities. You can have a good energy deal, but you don’t have enough space for that. Or you have a large enough location but the energy rates are less than perfect. Typical mining farms either choose to be big and pay something ridiculous (like $0.07 – $0.1) or have good electricity rates but can’t take advantage in full because of land/space constraints.
Enter mobile units.
These are transportable containers with heat exhaust systems that can house batches of miners. Using them is a tactic to 1) squeeze out extra capacity at the best rates we find; 2) be flexible with locations; 3) be resilient in face of unknown. Let’s see what it’s all about.
- Mobile units enable us to quickly deploy capacities on leased land and get off of it retaining full working capacity, ready to be deployed elsewhere;
- We are constructors, so our units are robust, flexible in design, and only have the cost of materials. We can make highly efficient units tailored to any type of miners, location, weather, and other factors the market will introduce;
- It takes us a week to build one, about 3 weeks to build 10. Takes 3 days to deploy a new mobile unit in full capacity;
- Mobile units use minimal energy to exhaust heat. They have UV reflective material for the summer months in Washington State. The roof and siding are coated with UV reflective white with efficient and inexpensive metal roof;
- In case of force majeure, we can quickly relocate a lot of mining capacity between our multiple locations to minimize downtime;
- Finally, they are made of green materials, use less emissions to build, and are easily recyclable in the future.
Mining is a game of attrition. Outsmart, outhustle, undercut is what we do. Being ultra-lean and resilient is how we do it.
Case in point
We are making a 20 MW deal for 2 substations up in the Hoodsport WA area with Mason County PUD #1. One is for 8-10 MW for the property we will buy and build on, with solar. The other one we will lease on a spectacular deal and build mobile units on.
The electricity deal is only valid if we take both substations but there was no land to buy near the second one. You don’t build on a leased land, no matter how fantastic the deal is. So what, miss the opportunity to mine on the rate of (roughly) 4-5 cents? No way, we say.
Don’t try this at home
This is just one of the crazy ideas Justin routinely comes up with, and he demands that the team pulls it off.
We don’t know any other mining outfits that do this, and there’s a good reason for that. You have to be a constructor yourself (our CEO’s non-crypto business), you have to find and negotiate fantastic land/lease/energy deals (which is one of Justin’s biggest talents), and you have to be able to quickly transport and mount them on the spot, wire into the grid and connect to the pool. All of which is our team’s core competency.
You will no doubt be able to see our units cruising around the state between our permanent and temporary locations to take advantage of anything Washington has to offer. Onwards and Upwards!