Low temperature climate, cheap electricity, Siberia, mined Bitcoin at -40 degrees Celsius

As the value of Bitcoin continues to soar, more and more people are beginning to want to earn Bitcoin through mining. As long as miners mine a block, they can get a reward of 6.25 Bitcoins. In the process of Bitcoin mining, huge electricity and cooling costs are incurred, but Bloomberg recently exposed the mining records in the Arctic Circle. The local mining farm has thousands of crypto mining machines, and the climate there can be as low as -40 degrees Celsius, which greatly saves cooling costs.

According to reports, the crypto mining farm is located in Norilsk, Siberia, and is owned by the Russian cryptocurrency mining company BitCluster. It has been mining since the second half of last year. The mining farm currently has 5,000 crypto mining machines, and miners can receive a reward of 6.25 bitcoins for each block mined.

The Siberian city of Norilsk is an ideal place for Bitcoin mining, mainly because the local cold climate can drop to -40 degrees, making it one of the coldest places on Earth. Not only that, Norilsk has one of the cheapest electricity rates in the world. BitCluster customers only pay about $0.04 (HK$0.3) per kilowatt-hour to supply power to the mining farm from the towers of the Norilsk nickel plant. The cold climate and low electricity rates have greatly reduced the cost of mining.