What is bitcoin farming?

Farming is a process that extracts the core value from Bitcoin. Hence, the production of these farms is going to be the next big thing. This farm is where the farmers, also known as miners, do their programs to harvest the digital coins. These farmers who process these coins are the backbone of the Bitcoin network.

Where is the largest bitcoin farm?

This is the largest bitcoin farm, known as Genesis Mining having farms in Iceland and Canada. Also, these bitcoin farms are located in the coldest countries. However, the electricity bills might be higher due to its large capacity and electricity consumption. The exact location is still not disclosed due to security reasons.

What would happen if there was no bitcoin mining farm?

Without a bitcoin mining farm, no one would have been able to confirm the transactions mentioned above. Hence, bitcoin mining would have become useless and unusable. Bitcoin mining farms are growing with hefty speed around the globe, so is the amount of custom made technology to support it.

Where are bitcoins mined?

Approximately 600 Bitcoins (BTC) are mined on a monthly basis at farms based in Russia, making it one of the most powerful countries in the mining industry. It also has some of the largest mining set-ups and sees approximately 20 BTC come in per day.