6 Things to Consider Before Choosing a Crypto Hosting Company
- Streamlining technical complexities
- Achieving nearly flawless hashing performance
- Minimizing electricity costs.
Realizing these goals requires the expertise of a reputable and seasoned crypto-mining provider. They possess the knowledge to elevate your mining operations and steer them toward profitability. Amidst many choices, determining the crypto hosting company that holds the key to maximizing your mining returns can be challenging. Only some providers live up to their promises.
So, how can you navigate this maze of options and find the ideal partner for your mining venture?
This article will reveal 6 critical considerations for selecting a crypto-hosting service. Let's embark on this journey together.
1. Location and Security
The governing environment for cryptocurrency mining varies significantly between regions. Because of weak rules, specific locations are more open to cryptocurrency mining. Others may enforce tight limits or place complete bans on mining activities. To reduce any legal issues, ensure that the hosting provider works in a location with a stable and supportive structure.
Cooler climates also help maintain ideal operating temperatures. Lower temperatures eliminate the requirement for expensive cooling operations and the danger of hardware failure. If the hosting company is in a region with excessive dust, rain, or snow, ensure they have suitable equipment. They should also have filtration to reduce the danger of climate to your miners.
A trustworthy colocation service should provide physical security measures. At the minimum, they should have active surveillance cameras, access restrictions, and restricted access. Furthermore, find out about their network security measures, such as firewalls, encryption, and defense against DDoS assaults.
On-site maintenance is also helpful since qualified technicians can make basic fixes. This includes board or fan replacements, reducing downtime, and increasing mining productivity. Additionally, by ensuring that any required repairs or replacements follow the warranty conditions, these specialists may assist in managing the warranties attached to your mines. By investigating a hosting facility’s security and maintenance options, you can guarantee that your mining business is secure and adequately supported.
Evaluate the contract conditions and prices offered by various hosting companies. The hosting company should know how to find cheap, sustainable electricity that guarantees the maximum possible uptime. For investors dealing with many miners, ensure your technicians have experience with tier 3 and tier 4 servers. Compare the prices per Kilowatt-hour and any additional charges for installation, maintenance, or early termination. Choosing a provider that fits your budget and provides various contract options can help you adjust to the changing crypto-mining environment.
Colocation service providers like EZ Blockchain charge actual power price passthrough plus an added fee per kWh for hosting operations and maintenance. Since electricity prices vary by state and region, the company works directly with the local utility to negotiate the best available electricity rates. Customers ship the miners to and from EZ Blockcain’s hosting locations. Prices tend to differ based on location, but miners can use EZ Blockchain’s mobile mining containers to allow them to switch locations.
3. Reputation and Flexibility
It’s critical to look into a crypto hosting company’s character and reviews from other miners before signing a contract. Look for unbiased opinions and encounters those other miners have shared. Reliable sources like industry forums or review websites may show the service provider’s performance, trustworthiness, and customer satisfaction.
You should look into the company’s history and the people in charge. Confirm their capacity to store your data on their servers securely. This includes who will handle your private keys and whether they are insured. Find out whether they have ever lost crypto due to inadequate data management or insider hacking due to faulty software. Read reviews and conduct your research before choosing the most decent one.
As the crypto market changes, it is critical to have a hosting provider to grow along with your mining activities. Examine whether the hosting platform offers flexible choices for adjusting your mining power and contracts as your demands change. Select a provider that allows you to add or remove mining equipment without causing any disorder. Having the capacity to scale up or down guarantees means mining companies can accommodate changing market conditions.
4. Mining Pool Transparency
The mining pool operator must work reasonably and maintain openness and confidence among pool members. Check if the overall hash rate stated at the pool level looks correct. You should also search for proof that the pool owners use reduced payment plans. Make sure the mining is valuable for you as well.
If the mining pools you’re considering don’t provide a real-time dashboard that gives transparency, you should look elsewhere. EZ uses our own internal Data Center management tool to manage and monitor the customers online and hashing status of customers’ equipment. We do not monitor or have access to the customer’s pool status. The customer’s mining pool of choice will receive the mining returns directly.
5. Energy Supply
The ideal business should have an electrical supply to keep the machinery operating effectively. The top hosting companies have automated power backup sources. Grids are prone to power disruptions that can significantly undermine mining output. With sustainable power backups, hosting services ensure that your mining equipment keeps running amid major grid power disruptions. Bitcoin mining operations have also come under criticism for consuming much energy and leaving a massive carbon imprint.
Green energy sources, including wind, solar, hydropower, and geothermal thermal power, are becoming more popular among hosting firms. Investors may search for mining colocation service providers that support green crypto mining and are concerned about the environment. Shifting to green energy is more profitable and sustainable in the long run. This is because these forms of renewable energy are cheaper, and they ensure Bitcoin mining isn’t thriving at the expense of the environment.
6. Customer Support and Reliability
Quick and qualified customer assistance is essential when dealing with technological difficulties or inquiries. Determine that the hosting provider offers 24-hour customer care service. Clients should be able to reach customer support through various means like live chat, email, or phone calls. In addition, evaluate the service provider’s technical skills. Experienced teams can help you improve mining rigs. They diagnose hardware and software issues and recommend good mining strategies. If miners break, your ideal hosting service should fix many issues onsite with a complete inventory of known parts and pieces. Some miners work directly with manufacturers for warranty repair logistics and out-of-warranty advanced repair centers to get your miners repaired and back hashing as quickly as possible. The ticket system tracks primary support through email 24/7.
When selecting a hosting provider, reliability is essential in sustaining operations. Downtime can cause substantial losses, given the high cost of mining equipment and energy. Look for a hosting company that guarantees at least 95% uptime and a track record of reliable operations. The goal is to keep miners hashing 100% of the time.
However, there are many reasons why the miners could sometimes shut down. These involve; bad fans, hash boards, power supplies, or required utility limitation periods. Some organizations promise a set percentage of uptime. That way, they demonstrate their belief in providing a steady and ongoing mining environment. Moreover, some providers may refund you for the loss if the monthly uptime falls below the agreed rate. They guarantee that you obtain a fair deal as per their agreement. Customers can also inquire whether the hosting facility participates in demand response plans and other critical programs that could affect colocation service providers’ reliability.
EZ Blockchain’s Colocation Service
Crypto mining remains the oldest way to profit from the larger crypto space. Regardless, many investors tend to shy away from Bitcoin mining over its high power consumption and soaring electricity prices. Only a small percentage of the global crypto community participates in Bitcoin mining with the help of colocation services.
At EZ Blockchain, we are your trusted hosting partner. We have been in the business since 2017, mastering the art of saving dollars for investors in every aspect of crypto mining.
Why EZ Blockchain?
- We have sufficient energy to power all your needs
We have 50 MW for our projects and another 50 MW under construction
- High industry standards
We provide the highest quality industry standards in the industry. Our technicians have the experience to work with Tier 3 and Tier 4 server protocols
- High miners uptime
We guarantee 95% uptime and the industry’s fastest project deployment. We also designed automation processes to monitor mining efficiency
- Best industry prices
We provide the best energy rates of approximately $0.07-$0.08 all in
- We work with sustainable energy sources
More than 65% of electricity in our hosting locations comes from renewable energy sources of solar, wind, gas, and nuclear power
- Best cooling solutions
We have air and immersion cooling systems
Many factors make up an ideal mining hosting facility. Most mining hosting services provide the necessary infrastructure. However, customers seek more than just the mining data center setup. Miners are high-cost facilities, so the security of a colocation service is indispensable. Large companies such as colocation services can get low-cost electricity from power companies. That way, they should be able to offer more affordable colocation rates.
Additionally, companies like EZ Blockchain are able to explore alternative energy sources, including wasted energy. They also provide innovative solutions like immersion cooling, guaranteeing high mining efficiency and longer mining equipment lifespan.
In any case, the above points should be able to provide miners with complete criteria for choosing a good crypto-mining hosting service.