The mining process forms the most crucial part of the cryptocurrency ecosystem, as it is necessary to maintain the network and process transactions over it. However, profitable mining requires specialized hardware, loads of hashing power and electricity which is not affordable to everyone.
While setting up a mining farm, two critical things should be considered –the hash rate and cost of electricity. These two have continued to weigh down on investors and miners who would want to make profitable returns.
Mining using hydroelectric power seems to be the most efficient way to not only keep the electricity costs low but also to ensure impressive returns on the equipment used. In addition, hydroelectric power is considered to be one of the cleanest sources of energy which helps the mining operation reduce its carbon footprint, particularly in the time when people are concerned about the impact of cryptocurrency mining on the environment.