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Bladetec To Build UK's Biggest Bitcoin Farm, Despite Energy Costs

A company called Bladetec is aiming to build the biggest crypto farm of all UK, with a starting budget of 10 million pounds. This will be done in three locations of the UK, London, Surrey, and Suffolk. According to a blog post of the company, it will be the first Bitcoin mine in Europe to be funded by investment in a limited company governed and protected by UK law.
The firm, who has also served the UK by supplying tech solutions to the City of London Police, National Grid, NATO and the Ministry of Defence, has designed a detailed investment plan to farm cryptocurrencies with UK’s power tariffs, and still make a profit. They will buy around 10.000 ASIC’s to power the mines. It is not stated which kind, but the most used machines for these high-performance farms is the Bitmain Antminer S9, but they can be also custom made ASIC’s.
They will also partner with third-party power providers to secure a lower power tariff, using renewables as an energy source for the farms; to avoid compromising the city’s system in the process. The plan is to build and maintain work on the operation for three years and then profit by selling the coins mined in that time, and also sell the mining rigs used.
The problem with this kind of investment is the ROI (return on investment) time. Bitcoin, and cryptos, in general, are a high volatility market, and the estimation of the earning is uncertain. Some experts calculate the price in bitcoin at the end of the year at $2,000 dollars, while some put it as high as $20,000. While we are currently in a bear market, deciding to invest in bitcoin mining in a difficult choice.

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