Decentralized Colocation with the Miners Union

Decentralized Colocation with the Miners Union

Why decentralized colocation is in a miner’s best interest

The recent flood in Sichuan serves as a reminder as to why bitcoin mining was meant to be decentralized, even for mining colocation. The going concern among miners tends to be control becoming consolidated in too few hands, which could lead to potential issues with blockchain integrity. This shows that there’s also risk in centralization of miners clustered in close proximity exposed to run of the mill catastrophe risk. If too much of the hash rate went down at the same time, the blockchain might be susceptible (or at least more vulnerable) to 51% attacks.

Miners destroyed by a flood in Sichuan
Miners destroyed by a flood in Sichuan

The hash rate dropped nearly 30% due to the disaster in what was formerly known as the bitcoin mining capital. Individual miner profitability for those not wiped out in the flood is poised to rise substantially as the difficulty is slated to reset. That, and as anyone mining in December can recall, coupled with a precipitous rise in cryptocurrency prices from, say, institutional demand, would make mining even more profitable.

Perhaps Sichaun is an extreme example, but every area has its disasters – both real and man-made. Hurricanes, typhoons, earthquakes, large thunderstorms, and even inclement weather can knock power out for a few days. It’s not practical to mine using back-up generators or everyone would do it. That’s why we believe that diversifying your miners across various geographic locations can help reduce the idiosyncratic risks of proverbially putting all your eggs in one basket.

To support this, it requires standardizing the spaces. You have to ensure that no matter where a miner is colocated, it always gets the same privileges and comes with the same perks.

What you get when you choose the Miners’ Union for colocation:

  • Access to a 208-240v power source in a climate controlled location.
  • Insurance for replacement value of your miner.
  • Redundant internet connection with automated failover.
  • VPN access, so you can access your miners remotely.
  • Coverage by our automated miner management software to optimize uptime and diagnose issues.
  • On-site repair staff following an identical procedure, no matter the location.
  • Loaner miners if undergoing repairs (*subject to availability)

Colocate with the Miners Union

Over 30% of the bitcoin hash rate was just wiped out due to water damage. The Miners’ Union has plenty of new shelf space distributed across our mines. Now is a great time to start mining – colocate with us today!

Our rate is $160/mo per miner and is all inclusive of all of the amenities above. Note that many facilities will advertise the electric rate and not include all of the other incremental costs, whereas our final bill each month will be $160/miner which can be paid in USD or cryptocurrency if you prefer. 

We do offer discounts for larger customers and for longer term contracts.

Contact us today to join the Union.

We Welcome New Miners

If you’re just looking to get started, we usually have miners available for purchase. We’ll typically match the price on Bitmain’s website with signing of a 6 month colocation agreement.

Reach out to us today to purchase a miner prepped for colocation and start mining in minutes with a guaranteed spot on the shelf! No risk of delivery errors, timelines, or mishaps with same-day first deposit.

Have Access to Power? Become a Miners’ Union Provider.

Do you have a facility with access to a few megawatts of power? Are you looking for a way to revitalize that space into a property that generates cashflows? You might be a good candidate to become a bitcoin mine.

Reach out to the Miners’ Union today to learn how you we can help you convert your property into a mine.

One Comment
  1. The Pine Cove Mill processing facility remains a cornerstone asset of the Company, achieving record quarterly throughput of 121,299 tonnes in the second quarter of 2018. Mill throughput was 1,350 tpd in Q2 2018, a 12.5% increase over the comparative three months ended May 31, 2017, and an improvement from the 1,300 tpd in Q1 2018. Availability during the quarter was strong at 98.7%, up from 93.4% in the first quarter of 2018, when a planned preventative maintenance shutdown occurred. The Company continues to invest in the Pine Cove Mill, making upgrades to the regrind motor and jaw and cone crushers, while continuing to maintain consistent throughput from its crushed ore stockpiles.

    Average grade during the second quarter of 2018 was 1.38 g/t, a decrease over both Q1 of 2018 and the three-month comparative period ending May 31, 2017. The lower grade profile was as projected based on mill throughput being largely comprised of ore stockpile from the Pine Cove Pit. The Company expects an increased grade profile in the second half of 2018, as ore feed is predominantly sourced from Stog’er Tight. The mill achieved an average recovery rate of 85.9%, an improvement over Q1 2018, resulting in gold production in Q2 2018 of 4,632 ounces.

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