December 22, 2021 – Dubai, United Arab Emirates
Metamining is a Bitcoin miningProcess that involves over 30,000 machines securing the network and Bitcoin-Collect block rewards. The operation is located throughout the Middle East and benefits from affordable electricity. However, these devices do not require air conditioning, but are kept cool by a six times more energy-efficient “water curtain” system.
The company announced that it has grown to become one of the most profitable bitcoin mining companies in the world. Combined with affordable electricity tariffs in the Middle East and a new partnership to finance development and IPO structuring aid, it paves the way for even better things in the future.
Operation of this magnitude requires future expansion options and solid maintenance. Metamining founder and engineer Sarah Sacrispeyre came up with a solution to make this possible. Thanks to a modular approach, it is able to save costs and improve the overall maintenance and efficiency of ongoing operations, while at the same time enabling future expansion.
Sarah Sacrispeyre founded Metamining with her husband, a business angel who had previously successfully sold his insurance business.
Metamining recently partnered with Ariane Capital to fund its current and future development. In addition, Ariane Capital will support Metamining in structuring its upcoming initial public offering (IPO).
The IPO will pay more attention to the cryptocurrency space and highlight the energy efficient nature of a mining operation in a country with a hot climate. Two of the 12 months per year pose a challenge due to increasing humidity.
All of the initial metamining infrastructure was financed by the couple themselves, so they can keep a close eye on operations and expand over time. Today they operate several mining farms across the region and collect thousands of Bitcoin every month.
Using Algeco containers to get hardware online as quickly as possible remains a critical consideration as traditional buildings take months to erect. Thanks to these containers, dismantling can begin in a few days.
The use of water curtains makes the metamining operation incredibly energy efficient. Essentially, all of the electricity is used for online hardware and hashing, as opposed to cooling systems, so operations can continue to expand for the foreseeable future. The hardware is operated by Bitmain ASICs.
The company only promotes Bitcoin and Bitcoin Cashas mining profitability tends to favor one over the other. However, both ecosystems use the same algorithm, so it is easy to switch between chains and pools if necessary.
Metamining is the most environmentally friendly and greenest mining company in the world. The company is based in Dubai and consists of over 30,000 machines operated by Bitmain.
The post Metamining Uses Innovative Cooling Solution To Make Bitcoin Mining Farms Viable in the Middle East first appeared on The Daily Hodl.
Source: Crypto News Deutsch