| By: deBanked Staff Much ado about nothing?Despite the long drawn endeavor, the world’s first bitcoin mining IPO was lackluster.Australia’s The Bitcoin Group, a bitcoin mining company raised $4.2 million (5.9 million Australian dollars) falling short of the targeted $14 million (20 million Australian dollars) The Melbourne-based company was founded in September 2014 with plans to pursue an IPO a month later.The founders Sam Lee, Allan Guo and Ryan Xu started Bitcoin Group as a cryptocurrency arbitrage service, but soon turned their attention to mining bitcoins as the main business.However, the IPO plans did not pan out as expected after the Australian Securities and Investments Commission banned the company for trying to garner investor interest on social media before filing the prospectus and placing two more stop orders on the IPO in July.The Bitcoin Group was finally cleared to list on the Australian Securities Exchange in January this year after a third unsuccessful attempt of listing in November last year.

The stock ‘BCG’ was scheduled to begin trading on February 2nd and received an underwhelming response from the market.bitcoin anonymous debit cardAs of now, it still hasn’t actually been listed.bitcoin anonymous debit cardAll the setbacks however did not dampen the founders’ spirit — CEO Sam Lee called the IPO a “solid result” and told CNBC that it was sufficient for the company to focus on expansion by acquiring new mining equipment.bitcoin market crash 2013Last modified: February 3, 2016 Category: Bitcoin Home › Bitcoin › The Bitcoin Mining IPO Didn’t Go So Wellethereum axeBitcoin, the revolutionary and contentious cryptocurrency has seen its ups and downs over the years.ethereum forum projects

What was initially dismissed as a “crazy idea” and a “fad” has now established its place in the market as a credible financial instrument.ethereum coin indiaWhat’s more, even long time skeptics, financial instruments, have started to embrace the cryptocurrency.soros on bitcoinAnd while this wide-scale adoption is great for the currency as a whole, it has brought with it a new range of challenges for miners.litecoin vslueBitcoin mining, by design, has gotten tougher over time, individuals running background apps on PCs have given way to savvy entrepreneurs with VC funding, setting up Hyperscale, multi-megawatt, facilities dedicated to mining bitcoin.bitcoin blockchain hashHaving helped build some of the largest, most efficient bitcoin mining facilities (over 10MW), wanted to outline some key learnings in the form of this step by step guide on how to start a bitcoin mining business/ operation.

Step 1: Evaluation As obvious as it may sound, it is critical that you do the math and evaluate the financial feasibility of mining bitcoin.You’d be surprised about how many enquiries we get for projects that make little financial sense.And while, it’d be easy for us to just quote them a cooling system price and sell more units, we’re committed to seeing our customers succeed, and often help people see why a project may not be feasible or why we may not be the best solution for them.The Miners The first step within the evaluation phase is to research what kind of miners you’ll be using.You ideally want to pick the most energy efficient miners, but if you have access to cheap, clean power, the upfront cost may be more important, the idea is to look at the total cost of operation of the miners.The Antminers from Bitmain are our personal favorites.The Infrastructure Once you have the miners identified, you need to figure out what kind of infrastructure and facility you’ll need to support the miners.

You want to start with a location that you have access to cheap power, land, and network.Next think about how you’re going to keep these miners powered, cooled, and protected from the elements.You want to ensure the miners are performing at their peak, reliably and constantly.Think about everything from the racks the miners will go into to the power distribution, the cooling, power requirements, and what all that means in terms of designing and building out the facility.If facility design is not your area of expertise, or just want someone else to handle it so that you can focus on your core business, GRC’s HashTank may be the choice for you.The HashTank is a turnkey solution for bitcoin mining that includes Antminer Hardware integrated into a pre-engineered containerized data center.It’s the low-cost, low-stress, solution for high efficiency mining.Click here to learn more about the HashTank Profitability Calculation Now that you have a better idea of what your upfront and ongoing costs will be, it’s time to sharpen your penci… No it’s not!

It’s 2017 there’s an app for that!While, there are a number of web and mobile apps, we like these web apps the best: /profit/ https://btcserv.net/bitcoin-mining-calculator Step 2: Financing If you’re still reading this, congratulations!Your profitability calculation probably came back in the green!Now that you understand how much money you’ll need to get started and the expected returns from your investment, it’s time to ensure you have the investors/ funds ready to make sure you can procure everything you need.Step 3: Procurement & Commissioning So you’ve done the heavy lifting!You’re past all the research, evaluation, pitching, and planning, it’s time to put this plan into action.It’s time to order your Hashtank!After we receive your request, we’ll help you figure out how to prepare your facility, i.e.get power, and mark out a nice little spot of land for your new mining facility.Once we have a PO, we’ll start putting your Hashtank together.