People often ask me “What's actually the difficulty when building a large cryptocurrency farm?” Usually these people have already built a computer They know the different parts that go in

And the strange thing about it is, it’s really difficult to answer because they’re completely right Plugging in all the cables in the right way and putting all the components together is not very difficult The difficulty is earlier in that The difficulty is how to handle the logistics and the preparation for building a farm of this scale Hi, I’m Philip Salter, I’m handling mining operations for Genesis Mining here in Iceland

When you’re building a cryptocurrency mining rig for your home, you order all the hardware from some online store, you wait for it to be delivered to your doorstep, you unbox all the boxes, plug everything together and then that’s it, you've got one Now when you’re trying to do this in a very large scale to build thousands of these machines, that’s when things get complicated The reason is that the usual way of just ordering stuff from online stores breaks apart at a certain scale So if you’re trying to order ten graphics cards they’ll probably be fine, if you try to order, you know, fifty some might start saying no and if you’re starting ordering thousands of them, they won’t even believe you They won’t even reply to your email

So you have to find a different way to source material Obviously we’re at a large scale so we’re going straight to the manufacturers of the different hardware components We have a lot of custom hardware We have lots of stuff that just did not work out for us in the way that it’s sold in online stores or any store and we had to make design our own and have it made That’s of course another dimension of making things more complicated because not just you have to talk to a manufacturer and, you know, get a shipping date and organise shipping and all this kind of stuff

You have to think about this early enough to design your product, to talk with the manufacturer to make sure he actually understood correctly what you want To have him produce it, to then deal with some kind of problems with usually happen and then deal with the logistics So the whole timeframe for the project is getting larger and larger, the amount of communication needed for the project is getting bigger and bigger And people don’t see it coming because it’s just problems that you’re not faced with if you're just looking at it from the technical side These are just real world problems that you get with large scale and it's something you have to be on top of from the very beginning otherwise your entire project will be delayed by a lot

Luckily we have lots of experience here with these kinds of small annoying problems and I’d like to say that at this point we’ve kind of seen it all At least the things that can really go bad have already gone wrong once So we are extra careful and are… just basically think about these problems in advance and try to solve them before they even happen For example we order a couple percent more of everything than we actually need because of course some of them will be faulty, some of them will be broken, some of them will be missing, some of them will be lost or something The most scary part of a build out is when you’re almost done, right, you’ve done all the major steps, everything seems fine and nothing has gone wrong

Because at that point you know, something is going to go wrong You just don’t know what and when And the later it is in the buildout the less time you have to fix it So I’d rather have something go wrong in the very beginning, there’s a big problem and you fix it and it takes you a week, but then everything goes smooth