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Mining
How to deal with electricity costs associated with mining?
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[QUOTE="Phantasm, post: 332651, member: 94599"] Mining, including the extraction of virtual currencies usually involve great amounts of electrical power. Several techniques can be employed to help control these expenses. Invest in less energy-consuming machines, optimize mining algorithm, use renewable sources of electricity, put energy saving mechanisms in place, mine off peak hours, negotiate lower electricity rates with providers, join decentralized mining pools; apply optimal practices in cooling systems; do regular maintenance and monitoring; as well as always check profitability. Energy consumption can be reduced by adjusting the mining intensity, using energy efficient mining pools and considering cloud mining. Keeping up to date with local regulations on power use and mining is vital for regulatory compliance. Get involved with communities that will ensure environmental issues are addressed and sustainable practices followed. The strategies adopted may vary according to the type of mining activity, location, legal frame work and specific objectives of a miner. Mines should re-examine their strategies on an ongoing basis considering changing conditions so as to ensure long-term profitability and sustainability. [/QUOTE]
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How to deal with electricity costs associated with mining?
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