The energy crisis is a perfect time to get rich, at least for Bitcoin miners. Now that the electricity prices have reached a record-breakingly high level, you might feel tempted to quit mining. That would be a mistake!
If you try to sell your rig, you’ll struggle to find a buyer for it — simply because too many miners do exactly the same. They’re in a panic, they strive to earn at least something in exchange for their costly and powerful equipment. They decrease the demanded price — and you’ll have to do the same.
Moreover, many people sell their Bitcoins, even though the price of this asset is far from being lucrative right now. By placing too many sell orders simultaneously, desperate miners push the BTC cost even lower.
Please be wise and avoid such destructive behavior. We have good news for you: after so many miners leave the game, the total volume of the Bitcoins that can be mined will remain the same as it was before the turmoil. However, fewer participants will be competing for their share of the rewards pool. Stay in the business — and you’ll get higher odds of making a profit! You won’t even need to change anything in your usual workflows. Except for one aspect: you should find cheaper electricity.
Is It Possible to Access Cheap Electricity during an Energy Crisis?
One of the regions where energy bills remain relatively affordable is post-Soviet countries, in particular Armenia. Free economic zones on its territory offer especially profitable conditions for entrepreneurs from the technological sector. ECOS Free Economic Zone was launched in 2018. One of its goals is to promote blockchain within the country, with maximum governmental support.
You might want to consider relocating your mining business to the ECOS zone for the following reasons:
- Its 2.2ha-territory can boast state-of-the-art infrastructure: warehouses, a service center, armed guards, and regular supplies of spare parts, all of them operating 24/7
- The current capacity of its data center is 60 MW — and it can be increased to 260 MW in the mid-term
- High-voltage networks are modern and stable — use your chance to claim almost 100% up-time electricity
- Local hosting plans are very budget-friendly
- There is no need to factor in the expenses related to overheating prevention
The last point from the list can be explained due to the favorable geographical location of ECOS. It’s situated in the urban municipal community of Hrazdan, where the average annual temperature hardly rises beyond +4.8°C.
Over 300,000 users have already joined the ECOS mining ecosystem. In addition to that, the zone is ready to accommodate at least 20,000 mining devices. It caters to both institutional and retail customers.
If you’re still not sure whether to relocate to ECOS or not, here is the final argument. For 25 years, you’ll enjoy a 0% tax rate on:
- Real estate
- Import and export
One of the most valuable assets of the ECOS Free Economic Zone is its highly professional and experienced staff. These specialists can assist you with transferring your mining business to Armenia. They will be in charge of testing, installing, and maintaining your rig 24/7. Your role will boil down to supervising the mining process through an app on your smartphone.
If you prefer buying new equipment, the ECOS team will offer you Bitmain products at a special price. Bitmain is one of the leading brands in the mining niche. Its products are efficient, reliable, and worth every cent you invest in them.
It’s Time to Relocate to ECOS!
While some parts of the world might be suffering from unreasonably high electricity prices, ECOS Free Economic Zone provides affordable energy to miners. Feel free to transfer your mining business to this territory! Here, you’ll be exempt from most taxes for 25 years. You’ll be able to buy top-notch mining equipment from Bitmain at a lucrative price and you’ll appreciate the local powerful infrastructure.