Key facts:
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The Satoshi Spain farm is made up of 800 graphics cards.
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The farm is supplied with renewable energy, friendly to the environment.
Satoshi Spain is a technology company based in the small Catalan town, just outside of Barcelona, Spain. They are dedicated to the mining of cryptocurrencies with renewable energy and the manufacture of platforms to carry out the activity, known as rigs.
Interestingly, although their name refers to Bitcoin (BTC), they currently have an Ethereum mining farm.
The youtuber and technology enthusiast Alejandro Pérez visited the complex in recent days and recorded the experience. The first thing shown in the audiovisual is a series of mining rigs of ETH, ready and lighting colors, generating the second most important cryptocurrency in the market by valuation.
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It is about at least two ships with 800 graphics cards (GPU) that are mining ETH. What is interesting is the business model of the company, which has been seen before: it produces and assembles mining rigs and, at the same time, offers the place for them to trade and start generating cryptocurrencies.
Nvidia graphics cards
According to the representatives of Satoshi Spain, the hardware they use to mine ethers responds to Nvidia products, but without the restrictions that this company imposed to reduce the profitability of Ethereum mining. These are the RTX 3090, 3070 and 3080 graphics cards, as well as others.
To configure them and get them all started working, Satoshi Spain uses a specialized operating system that allows managing the operation of the miners from a mobile phone.
In addition, and although there are more than 800 graphics cards to mine, Satoshi Spain joins a mining pool (which was not identified in the video) in order to find the blocks and obtain the reward. Thus, in the words of the company, up to 200 dollars in ethers could be generated daily for each miner, although electricity consumption and many other taxes must be subtracted from that.
In total, the 800 graphics cards generate about 65,000 megahashes per second (MH/s), which could be about $4,500 a day in gross, which would be more than $135,000 a month, based on average estimates.
there are threats
Although the figure seems large, the miners of Satoshi Spain face several problems. The first is heat. Due to the operations of these hardware, the complex is susceptible to high temperatures. They combat this with specialized systems that ventilate the facilities and large fans placed behind the rigs.
Meanwhile, dust and dirt become another problem. Electronic devices attract dust particles, so Satoshi Spain workers regularly clean the complex and the devices. This allows miners to perform better, at stable temperatures, and without risk of compromising failure..
Also, there is the electrical issue. As is known, Spain is a country where this service is expensive. According to the businessmen, there are agreements with the electricity companies so that the farm is supplied entirely by renewable energy sources, that is sold at low prices and that prevents them from operating at a loss.
The electricity operator in Catalonia is Barcelona Energía, which, coincidentally, offers an energy service based on solar panels and has two prices during the day.
According to information from that company, the energy cost could vary from 0.34 euros per kilowatt (EUR/kWh) in solar periods and up to 0.22 EUR/kWh in non-solar periods.
CriptoNoticias asked Satoshi Spain for comments to expand this article. You will be updated with your answers.
Mining in Spain on the rise
Satoshi Spain reinforces the narrative that there is a growing level of cryptocurrency mining activity in Spain. Although in this case they are limited only to Ethereum, It is true that Bitcoin mining has proliferated in that country.
CriptoNoticias has reported several cases, such as that of the Citizens party deputy, María Muñoz, who considered that this country has the necessary conditions to take advantage of the migration of miners from Kazakhstan so that Spain becomes a new destination for the industry.
In addition, the proposal of several miners to process the Bitcoin network from the energy from pig poop was known. It is an environmentally friendly way and, curiously, it is carried out in Catalonia, the same town where Satoshi Spain operates.
Cryptocurrency mining will continue for a long time, or at least that is how it has been seen, so it is positive that more companies join the activity, indispensable to strengthen blockchains and the ecosystem itself.