Possibilities of a profitable Crypto mining farms in Africa

[Mcdonald omokw]

2022 is a great year when we talk of crypto mining in Africa, many countries all around the world have entered and explored this this rising opportunity of crypto mining, but many countries in Africa like Nigeria have placed ban on all crypto currency transaction in the country, but according to survey carried out in 2020 and 2021 Nigeria remain among top 10 countries that trade most in the crypto space, Africa is a land of limitless opportunity when it comes to crypto mining, mining crypto currency in Africa has better odds of profitability than any other countries u might think of because some of the following factors,
1) cheap electricity, in Africa solar energy is very cheap, a solar plant Can be constructed with just as little as $8k
2) little or no taxation,
3) cheap labour,
These and many other factors has made the venture a viable one when we talk about investing in the crypto space.

 

[Sotherefore]

All the things you mentioned are not really necessary when you are minning of cryptocurrency , The only important thing is the electricity and base on my observation Africa does not have the required electricity that is needed to mine cryptocurrency successfully because most African countries do not have constant power supply then how will they be able to mine cryptocurrency when they cannot even provide constant power supply to all the citizen ? I heard on the news that meaning of cryptocurrency require more electricity more than what Amazon on Google is using and you can imagine the amount of electricity that will be needed to mine a cryptocurrency, based on my observation Africans may not be able to provide the required energy that is needed for this to take place.. cryptocurrency mining is more complicated and even some countries are trying to avoid direct mining of cryptocurrency, if it was really possible for every countries to consider mining of cryptocurrency other countries with stable power supply together their ability to generate electricity will be able to consider it but bitcoins and mining of other cryptocurrency takes a lot of energy and sometimes can pollute the atmosphere if not properly done.

 

[sincerem]

Africa is rich in natural resources, and peaceful atmosphere. Mining cryptocurrency will be a success here in Africa, due to how peaceful the land is. But at the moment, the political leaders in some African countries aren't ready to give cryptocurrency chance, if they do, it will certainly grow higher. The requirements to mine Bitcoin or any other cryptocurrency isn't beyond their reach. They can simply mount a stable and required level of power to accommodate mining or cryptocurrency if it happens to gain approval or go ahead. We have lots of citizens in Africa that love's cryptocurrency, they'll be thrilled to see mining process being in operation here in Africa. Only the future will tell, where Africa will be, if they'll reach terms she bring in mining companies in most of it's countries.

 

[KURTAULI]

1) cheap electricity, in Africa solar energy is very cheap, a solar plant Can be constructed with just as little as $8k

Solar energy is good but solar panels are not cheap and available everywhere. There is also one big problem the sun does not shine for 24 hours. Sunlight is about 8-9 hours this means that the miner can work 8 hours on solar energy. 1 miner that consumes 2 kilowatts needs 4-5 pieces of 500 watt solar panel which is in my opinion a big and risky investment. If you are planning to start mining with a solar panel my advice would be to calculate all the expenses well

 

[MikeSol1]

Solar energy is good but solar panels are not cheap and available everywhere. There is also one big problem the sun does not shine for 24 hours. Sunlight is about 8-9 hours this means that the miner can work 8 hours on solar energy. 1 miner that consumes 2 kilowatts needs 4-5 pieces of 500 watt solar panel which is in my opinion a big and risky investment. If you are planning to start mining with a solar panel my advice would be to calculate all the expenses well

It's important to carefully consider the costs and benefits of solar energy before making a decision. While it may not be the right choice for everyone, it can be a cost-effective and sustainable energy source in the long run, especially when paired with battery storage.

I should also note that while solar energy may not be available 24/7, it can still be a reliable and consistent source of power during the times when the sun is shining. In addition, solar panels have a lifespan of 25 years or more, which means that the initial investment can be spread out over a longer period of time. Additionally, the cost of solar panels has been decreasing in recent years, making them more affordable for many people. Finally, using solar energy can help reduce reliance on fossil fuels, which can have environmental and economic benefits in the long term.