When you decide to trust crypto mining hosting or use the services of mining colocations, one of the first questions that arise is how much will it cost? Yes, of course, it makes no sense to count on the fact that the cost will be incredibly low since everyone understands perfectly well that you will have to pay the corresponding price for worthwhile things.
But at the same time, too high a price may not be fair at all. We decided to help you understand the pricing policy of hosting platforms and learn about what criteria and nuances form prices in the market for such services.
Disclaimer: We want to emphasize that this is not financial advice. Cryptocurrencies operate in a volatile market, where values can drastically fluctuate in a blink of an eye. It is imperative to conduct thorough research and seek guidance from a qualified financial advisor before investing.
Of course, these are not just one or two factors. A complex set of data affects both the quality of bitcoin mining hosting services and your direct earnings. Many points should be taken into account when setting the price of cryptocurrency hosting, such as:
- Electricity price
- Used volumes of electricity
- Energy resources selected by hosting
- Crypto hosting location
- The cost of human labor
- Customer support and service system
- Personnel qualification of hosted crypto mining
This is not all, but this is the most important. Let's dive into the details.
There are a few misconceptions that are important to discuss in order to avoid common mistakes. Here are the two main ones.
- Focusing on Electricity Cost
Indeed, many people succumb to the idea that the best way to save on crypto hosting services is electricity. Yes, of course, the cheaper electricity costs, the more pleasant it is in terms of price for you as a consumer. But no one has canceled the issue of quality and stability of the power grid. Indeed, in the case of cryptocurrency mining, stability and confidence in connection mean a lot and you definitely cannot risk such moments. If electricity is cheap but unreliable, such savings will not lead to anything good and you will only lose more of your money. Think about it.
- Trusting Prices That Are Too Low
Sometimes, when you find a bitcoin miner hosting pricing policy that is an order of magnitude lower than market prices, it seems like you got lucky and found the most profitable option. Often this is not the case. Such a low price can only cause suspicion and mistrust. In most cases, this is how it turns out: scammers and deceivers who simply take your equipment and then disappear in an unknown direction prefer to set a price that is too low. This is just bait that is best avoided and prevents problems in advance.
Where To Go For Crypto Hosting?
The issue of location is of key importance for the formation of prices for such services, just like the level of equipment of the premises. When you are about to locate your server, try to focus on the following points about hosted crypto mining providers:
- Lack of binding to the exchange rate. It should be a fixed cost that will not change under the influence of external economic or political factors
- No link to the cryptocurrency exchange rate. Just like in the previous case, any price fluctuations should be excluded
- The presence of a system of reserves and excellent connection quality
- The absence of additional commissions and payments, which are absolutely not justified by anything
- Excellent electricity system, proven channels, legalization of the premises. In the absence of permissions to place a hosting, your equipment can easily be arrested by the police
- Stable room temperature
- Professional technical support and quality staff
- Availability of license and necessary documents
These are the points that you should pay maximum attention to when choosing a location. If all of the above points meet, and you are absolutely satisfied, then it is worth giving such hosting a chance.
For the objectivity of the choice and the correctness of the assessment, we advise you to combine all these data on several pre-selected options and put them in a common spreadsheet. Compare specifications, documentation, reviews, and recommendations. If you have the opportunity to visit the space in person - that would be ideal. Rely on your own intuition and data analysis, and you will definitely make the right choice.
So How Much Does Crypto Mining Hosting Cost?
To get the final amount, you will also have to carry out a number of calculations. Depending on the specific case and location, naturally, the price will be different. Here's what you need to add up and calculate to get an approximate price:
- Price of electricity ($60-$90/kWh)
- Age and depreciation of equipment
- Space dimensions
- Service and guarantees
Pricing policy in most cases will vary from $1000 and up. Be prepared to allocate at least this amount to start, and then you will be guided by the situation.
In conclusion, it is worth noting that before receiving the final price, you still have to do a little work and make effort. But as a result of this, you will get the most profitable and pleasant option and will be able to choose the best mining hosting service. We wish you good luck and we are sure that you will succeed.