Building a Cryptocurrency Mining Farm / Genesis Mining #EvolveWithUs – The Series Episode 2

people often asked me what's actually the difficulty when building a large cryptocurrency family usually these people have already built a computer they know the different parts that go in and the strange thing about it it's really difficult to answer cuz they're completely right plugging in all the cables in the right way and putting all the components together is not very difficult the difficulty is earlier than that difficulty is how to handle the logistics and the preparation for building a farm up is scale hi I'm Philip Salter I'm handling mining operations for Genesis mining here in Iceland when you're building a cryptocurrency mining rig for your home you order all the hardware from some online store you wait for it to be delivered to your doorstep you unbox all the boxes plug everything together and then that's it you've got one now when you're trying to do this in a very large scale to build thousands of these machines that's where things get complicated the reasons that the usual way of just ordering stuff from online stores breaks apart at a certain scale so if you try to order 10 graphics cards they'll probably be fine if you try to order 50 some might start saying no and if you start ordering thousands of them but then what if you believe you you won't they won't even reply to your email so you have to find a different way to source material obviously we're at a large scale so we're going straight to the manufacturers of the different hardware components we have a lot of custom hardware we have lots of stuff that just did not work out for us in the way that it sold in online stores or any store and we had to make design our own and have it made that's of course another dimension of making things more complicated because not just you have to talk to a manufacturer and you know get a shipping date and organize shipping and all this kind of stuff you have to think about this early enough to design your product to talk with the manufacturer to make sure we understood correctly what you want to have and produce it to then deal with some kind of problems which usually happen and then deal with the logistics so the whole timeframe for the project is getting larger and larger the amount of communication needed for the project is getting bigger and bigger and people don't see it coming because it's just problems that you not faced with if you're just I'm looking at it from the technical side these are just real-world problems that you get with large scale and it's something that you have to be on top of from the very beginning otherwise your entire project will be delayed by it a lot luckily we've have lots of experience here with these kinds of small annoying problems and I'd like to say that at this point we've kind of seen it all at least the things that can really go bad have already gone wrong once so we are extra careful and just basically think about these problems in advance and try to solve them before they even happen for example we we order a couple percent more of everything than we actually need because of course some of them will be faulty some of them will be broken some of them will be missing some of them will be lost or something the most scary part of a build out is when you're almost done right you've done all the major steps everything seems fine and nothing has gone wrong because at that point you know something's going to go wrong you just don't know what and when and the later it is in the build-out the less time you have to fix it right so I'd rather have something go wrong in the very beginning and then it's a big problem and you fix it and it takes you a week but then everything goes smooth you

38 thoughts on “Building a Cryptocurrency Mining Farm / Genesis Mining #EvolveWithUs – The Series Episode 2”

  1. because of this mofos the mining difficuty is to the roof before talking about how hard scaling is talk about how hard is doing a platine youreself or disign a gpu youreself the only way i got gpu´s were used or death ones i backed and mining farms destroy the whole market to make money on crypto, they sometines shipping more gpu than a store even have mofos farms

  2. how to start mining…please tell me fully…
    how can i get profit.???
    tell me details please… thank you…

  3. I do not see by any side, the help to the client, I do not understand this situation, if you provide a service, I need to reopen who can help me with that please? can you contact me and help me thanks

  4. Its like he has an english australian accent but something else mixed in and im not sure what maybe a bit of icelandic

  5. I waiting until november to begins my mining process here, hope have a prosper relationship with genesis mining like many other users… in my city there are also quite friends waiting for new contracts or to see how my investment works because in my country is too hard try to manage your own equipment but anyway I believe that miner in one of the future professions in this century…

  6. Cool, super glad you were able to sort out what sounds like were a BILLION problems you ran into AFTER taking everyone's money. At least you are actually making payouts to your customers unlike some others. Bring back SHA256! I got 5 on it… "Pacta sunt servanda"

  7. It would really be awesome if you were able to get the sha256 contracts you sold in September up and producing hash-rates before the end of October…

    Like tomorrow would be TOTALLY AWESOME! But I can wait til the 15th if necessary… ;D … but alas.. T minus 30 days and counting…

  8. When are the sha256 contracts coming back. I've been saving up a lot of money to get my first time concert. And great video?

  9. Love you guys, thanks for showing us how its done . with china considering to ban mining, iceland is a safe place to invest. May Genisis flourish abundantly ^_''

  10. This is a very informative video, showing that Genesis uses their on designs for the graphics cards, and equipment which means they are custom, and patented, and trademarked by Genesis. They have a massive mining operation. My 3% off Genesis Mining code: lbLK8h

  11. guys i want to become a miner but i dont know any thing about cryptocurrency can you please help me and tell me how to start mining on genesis mining ,

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