What Is CryptoFarm?
CryptoFarm is a cryptocurrency mining and investment project launched by PreICO on August 22, 2017. This project involves the construction of the world’s largest mining farm in Russia. The site will have state of the art mining equipment with modern technologies.
Location Of The Project
The project will be located in the Irkutsk region, one of the regions in Russia with the lowest electricity tariffs. The electricity tariff in this region is estimated to be around 1.7 cents KW/h, which is a low cost compared to Moscow’s 8.2 cents KW/h, China’s 9.1 cents KW/h, and Germany’s 36.5 cents KW/h. The low cost of electricity and good climatic conditions in this territory will make this project cost-effective and profitable in the long run.
Why Choose CryptoFarm?
A few years ago, cryptocurrencies were mined using computer central processing units. With time, miners started using graphical processing units because they realized that GPUs offered more hashing power and were 100 times faster compared to the CPUs.
Nowadays, serious cryptocurrency mining is carried out using dedicated cryptocurrency mining hardware ASICs in temperature controlled data centers. These components use less electricity. Technically, it is still possible to mine cryptocurrency without the use of these components, but the returns are very low.
CryptoFarm is, therefore, one of those projects that makes cryptocurrency mining easier and faster. As we stated earlier, the low cost of electricity and favorable climatic conditions in the Irkutsk region will make Cryptofarm a cost-effective and profitable project.
How CryptoFarm Works
PreICO says that the farm’s capacity will be leased to third parties for the purpose of mining. These thermally controlled farms will be divided by the total number of tokens sold to the CRF. People will get a chance to mine cryptocurrency to get dividends alone, sell tokens on the exchange, or on the computational power of miners Cryptofarm.
The price of one CRF token is approximately 1 US dollar. In the first phase, each CRF token will be sold at 50 cents.
Benefits Of Cryptofarm
Cryptofarm gives investors a chance to invest in the mining of cryptocurrency to earn dividends. This is an ideal opportunity for those who want to invest in the mining of cryptocurrency, but cannot do it independently. Cryptofarm also allows investors to invest in the mining of the cryptocurrency independently using the resources of the mining farm. Basically, the mining farm will be divided into a number of tokens. Since the cost of electricity where the farm will be located is very low, this investment opportunity will attract thousands of miners from around the world.
CryptoFarm Risks And Downsides
- Cryptocurrency mining has become more difficult and involving. As demand surged, the competition is also ever increasing.
- The cost of leasing the farms is likely to increase, but due to the low cost of electricity, this increase will be minor and inconsequential.
Cryptofarm is actually expected to encounter cryptocurrency mining challenges. There are several partners that are interested in the project, but everything is at the initial stage. If you have done your calculations and you are determined to venture into cryptocurrency mining, you might want to consider the Cryptofarm opportunity.