How to increase your mining farm returns
Towards the end of 2017 Bitcoin’s price rose to almost 20,000 USD. If not before, at that moment it became very obvious that Bitcoin and, cryptocurrencies in general, were a great investment opportunity.
We have discussed in previous posts how there are two main choices of hardware for mining: ASICs and GPUs. While for mining Bitcoin the only real option right now are ASICs, they are a very costly investment, and one that needs to be renewed every few months to keep it profitable.
On the other hand, with GPUs you can mine a great variety of coins, which gives better flexibility. Also, GPUs can be used for many other tasks, as they are not specialised for cryptocurrency mining.
Certainly, right now mining Bitcoin is probably the most profitable choice for mining farms, but it is not a safe one. Even if Bitcoin seems to be greatly rising in price again, it’s great fluctuations stop it from being an ideal long-term investment opportunity.
While the future price of Bitcoin is somewhat uncertain, there are related investment opportunities which seem to have a much brighter future. As we argued in an earlier post, cloud services, which give billions of dollars to the main companies providing them, are destined to cap soon, due to the great economical and ecological costs that they carry.
Rising as the main substitute are distributed computing platforms. These platforms will use any devices on the internet to process different kinds of jobs, and will grant the suppliers with a greatly increased revenue.
Mining farms may play an important role in distributed computing, effectively working as data centers to provide fast and reliable computation power to the network. The owners of these farms will receive rewards for sharing their computing power. And these rewards will greatly surpass the earnings obtained with cryptocurrency mining, as they will be one of the strongest pillars of the network.
Just like we argued in previous posts that distributed computing can be seen as a more profitable form of mining, in this post we would like to emphasise that distributed computing will also be providing to the general public great investment opportunities.
By owning mining farms which are not specialised to mine a particular coin, but to perform general (or even specific for some use cases) computations, both the network and the providers will greatly benefit from it.
Here at Cudo we have already developed the Cudo Miner platform. It automates GPU mining and makes the most money possible out of your hardware by mining the most profitable coin at the moment and according to you hardware specifications. And we are very excited to announce that we will soon be releasing the details of our Cudo Compute platform, a distributed computing platform which extends our current Miner platform.
Stay tuned for updates in the near future!
Author: Joan Garcia i Tormo
