Attention, Citizens!
We have been terribly lax on out blog posting, but for those of you keeping up with us on X and Discord, you’ll know Facility 01 is LOOKING GOOD! Here’s a current Facility overview:
1) Energized and Hashing ⚡
Facility 01 was energized by the local utility co. at the end of January! That process took a while as the utility co. had to upgrade the local power lines to accommodate our power draw (~.5 Megawatts). As a reference, our facility draws roughly the same energy load as 400-500 average American homes. Our locality has some of the most affordable power on the North American continent, with a base rate of $.052 kwh. Once we achieve full scale we’ll be able to determine our actual overall mining efficiency accounting for all input costs. All-in, we estimate total facility costs ~$750K, ~80% of which is just CAPEX for mining machines, with ~$450k-$500k/yr in profit at sub 100K BTC prices.
Founder’s Note: To be clear, I don’t care about current prices. I built this for the next several years for the most righteous face-melting BTC gains the world will ever see.
2) Scaling our Cooling Loops 💧
We currently have 10x/60x hydro-cooled machines fully operational on 2x cooling loops. We had initially planned for 10x/loop but after much tinkering settled on a scalable stable design with 5x/loop. This iterative design process took ~30 days from energization. We are now simply building out the additional loops and you can expect to see more come online in the coming weeks. While this part is annoyingly boring, this is a critical component for scale. Hydro-cooled ASIC miners are considerably more powerful and efficient than their air-cooled counterparts, and our cooling loops ensure system efficiency and longevity.
3) Mining Dashboard Public Beta ⛏️
The mining dashboard is ready for public testing and you can check it out here. Note rewards are not currently calculating, but you can see how many Nexus Miners you have on both Cardano and Ordinals and you can see our live miners.
We expect to push this live in the next month once we get a handle on reward payouts and more machines turned on. Note additional bonuses will be available for holders of Cardania gaming NFTs in a future update once we achieve full scale.
4) More Slots to Fill 💰
~50% of the Facility has been filled by House of Titans with another ~25% filled by Banker Labs. This B2B collaboration with other like-minded Cardano projects was both fortunate and necessary, as Nexus Miner sales (and more generally sales on Cardano) have been pretty sluggish. We had originally planned to fill the whole facility with Nexus Miners ASICs but sales have not yet supported that plan – So, Nexus Miners will enjoy variable rewards up to 10% of ALL active machines in the facility, as well as 90% of rewards for Cardania purchased machines. Cardania may also optionally buy out miners from our partners if/when they’d like to upgrade or relocate (though we hope they stick around), giving Cardania a path to scale up as desired. Rewards will always vary based on hash difficulty, BTC price, operational and maintenance costs, etc. This is effectively a tokenized commodity derivative, so volatility is baked in.
Nexus Miners will remain on sale until we can add no additional productive value into Facility 01! As of right now we estimate we can still fit more than $80K+ of mining value into Facility 01. Mint yours on Cardano or Bitcoin Ordinals (Ultra, Deluxe, Standard) today!
5) Scaling & Replicating Facility 01 ⚡
We’d love to scale more and have been approached for a second facility site for which we have a tentative LOI in place. However, we also understand liquidity on Cardano (and our social reach) is limited, so we will continue seeking funding where it presents itself. We have a unique opportunity to stack hashpower in the United States during the Bitcoin revolution, so we’d like to do as much of that as possible. We’ve always said we will scale to wherever Cardano allows us, and if you guys want more mining and more facilities, we will build and deploy them. In the meantime, we have been cooking up a new tokenized mining offering with a fresh brand for Solana behind the scenes, which we’ll unveil in the very near future.
