Cover art for podcast The Know Your ICO Show

The Know Your ICO Show

31 EpisodesProduced by CahillWebsite

Welcome to The Know Your ICO Show where you get insights from the founders and teams behind emerging ICOs. It's like a job (or investor) interview for ICOs.Cahill (sounds like K-hill) is the host of The Know Your ICO Show and founder of Byte Media Group, a Strategic Marketing Agency focused on helpi… read more


Bitcoin Mining in a Soviet Bunker

In this episode join me Cahill (sounds like K-Hill) as I chat with Dias Kurmanov from Ice Rock Mining – a bitcoin mining based project based in Eastern Europe.


Their idea – shared mining project – where you earn income/revenue based on how many miners they have running. They say it’s run in an older Soviet Military bunker in a mountain, where the average temperature remains at 10-degrees Celsius or about 50-degrees Fahrenheit. Maintaining stable temperatures (and electricity costs) when building out large mining facilities is extremely important – as the more bitcoin or GPU (Graphics Processing Unit) mining rigs you have – the larger your costs are going to be in cooling and power.


As someone who mines with GPU’s (yes, I have a number of miners running, and am working on the ideation phase of an AI/GPU/Bitcoin mining idea) this discussion was interesting to me, and we do dive into the weeds a little more in Part 2 of the interview.


If you want to hear Part 2 of this episode and all the others I do – you can become a member here.

Note this interview is a little shaky as Dias was recording from his phone just outside the mining facility.


In Part 1 – we cover the standard questions. Dias covers some of the challenges associated with building mining, network difficulty growth, and how they plan to overcome these challenges.


In Part 2 – I get into the weeds. There are lots of things that affect profitability of cryptocurrency mining – hash rate, electricity costs, cooling costs, technology, network difficulty and on and on. I’ve read the whitepaper, and I run my own mining rigs/farm – so we dive into a number of interesting questions such as:


  • How do you stay competitive – as technology keeps on advancing quickly?
  • Do you have Ethereum (GPU) mining?
  • What is the LTV (Life Time Value) of each miner – what is their calculation on this?
  • How does the network difficulty increase affect their business?
  • How do they maintain profitability with network difficulty increases?
  • What equipment are they currently using to mine bitcoin, ethereum and others?
  • What is the hash-rate of the equipment they’re using – how does this compare to newer machines?
  • What type of technology are they planning on buying – Antminers? Bitmain? What models? etc.
  • and many more…


As I mentioned, we get into the weeds a bit in Part 2…


Hope you enjoy the interview.

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