TL;DR Breakdown
• Vipera expects to install two crypto-miners.
• Crypto Farms could work in Dubai from April 2022.
Dubai seems to gain territory in mining cryptocurrencies since Al Quoz, an industrial zone in the west of the UAE plans to build 2 crypto farms under the management of Vipera LLC. These new facilities will allow the country in the Middle East to store a good amount of Bitcoin during the year.
Several countries in the Middle East have joined the crypto craze through mining. Dubai appears to become the new player to Bitcoin mining as the token recovers its value on the market.
Vipera to build a pair of crypto farms in Dubai
According to reports, the technology company Vipera plans to build a couple of crypto farms during 2022. The company will inaugurate the farms in different locations by April.
Mining colocation would correspond to energy rental from a mining installation and works through external equipment or hardware. This work is an economical and flexible alternative to crypto farms. Clients will have the power to rent the machines with good hashing power and even get the full miner.
People who invest in hardware crypto-farms will enjoy personalized contracts without forgetting the option to buy the miner that the company has. After covering the mining equipment cost, people must pay a rental fee each month and a fee for energy consumption.
Is Dubai ideal for mining setup?
The United Arab Emirates has been very receptive to cryptocurrencies. But the modus operandi in the locality is not with traditional crypto farms that consume an immense amount of energy but by installation farms. These farms will allow crypto operations in Dubai to expand and the country to have its Bitcoin holdings.
Another great advantage of mining colocation is that its durability could be extended for over five years. Vipera will manage the entire operation of the machines and ensure their monthly maintenance.
According to reports, both crypto machines will consume about 8.5 Megawatts of energy, with one needing 2.5 and the rest for the other machine. The crypto project looks promising, and many people may join it.
As the crypto-mining plan in Dubai moves forward, the broader market appears to recover with Bitcoin, the largest traded cryptocurrency, trading at $37k. It is possible that with these new farms in the Middle East, the decentralized market will rise again.
Source: https://www.cryptopolitan.com/vipera-building-2-crypto-farms-in-dubai/