Quote from: Bigjoe33 on August 13, 2025, 06:21:40 PM

Quote from: Doan9269 on August 13, 2025, 02:16:01 PM

We have lots of challenges facing the country when it comes to bitcoin mining and i don't think we ever had one mining rig before, because this has more in demands for setting it up and i don't think the country has the best offer to help make this a reality of r those that might be interesting in mining bitcoin, except for the international collaboration, whereby they come to set up one and fully fund it.

Here are some few in-demand challenges in setting up a mining rig in Nigeria.

1. Electricity supply
2. Technical know how
3. Government regulation
4. High resolution computers
5. Ant Miner and other mining set up requirements
6. Geographical location/environmental factors
7. Capital intensiveness, many couldn't afford setting up a mining rig.

these among many others could not make mining in Nigeria more adaptable and affordable by many who may be interested

Generating electrical energy sources has been the best option for the Bitcoin mining ecosystem globally and this is one of the many areas we are getting it wring here in our country. Just like you pointed out, there are few other challenges as to ensure steady and successful Bitcoin mining activities here. But if we narrow our talks down to electricity supply, we can say that the government has a big role to play, just like the OP has said earlier.

As of 2019, just like the link the OP shared in this thread above, that a study by coin shares estimated that at least 74% of crypto currency's global consumption came from renewables, mostly in the form of relatively cheap, Chinese hydropower. This is where the government comes in. Enhancing the level of power supply in the country is a major deal and will in a great way set a move on the feet of lovers of Bitcoin miners in the country. There are other cost involvement to succefully min Bitcoin. This will be way too much as people who think of involving I'm Bitcoin mining may think or may not afford. But if the government comes in, create a reliable plus sustainable electricity supply round the country, it will not only lessen the financial burden on miners, but also encourage other would be Bitcoin miners to come on board as they will Chanel their resources to other areas in ensuring a successful Bitcoin mining process.

If you ask me, the government has a very big role to play in this because if you properly examine few other countries involved in Bitcoin mining, they have helped in creating a level ground in amenities which make such mining activities successful. The Nigerian government may not have made rules against Bitcoin mining in Nigeria, but can help in fast growing it's activities if they put few things in other.

Quote from: SuperBitMan on August 13, 2025, 04:53:12 PM

You have done well by bringing this up a lot of people have forgotten about mining here in Nigeria and the reason for not mining in Nigeria is because of the cost and since there is no steady electricity supply, when you talk about mining you need a lot of data and you know how costly data now is in Nigeria it is very costly so a lot of people don't get involved in mining anymore however they are still some people who are still mining here in Nigeria but they are not much and since there's no steady electricity supply people find it difficult to mine.
However there are some areas here in Nigeria that has steady power supply but some areas in Nigeria don't have steady power supply, those set of people that are staying in those areas that has steady powers supply may be the ones that are actively involved in mining and those that are not staying in those areas may not be interested to mine Bitcoin.
I will advise that if you cannot mine Bitcoin then you can accumulate Bitcoin and hold, the cost of mining bitcoin here in Nigeria can get you good amount of Bitcoin if you buy it.

Yea, I agree with you in this. And just like you have raised, the electricity is a major problem. We all know that the availability of a thing gives interest to it. So unavailability of steady electricity supply in so many parts of the country has in great ways killed the interest of many. I believe there are many people with miming interest and ability. A supportive play ground created will enable us grow in plans to grow and min.

On the other hand, investing in Bitcoin too, a great idea. If you can't min due to the large cost, you invest and hold. Smiles. I think I like the sound of that because over the years, Bitcoin investors has made remarkable marks and growth in the investment world. And we are sure it can only get better while holding for long..

As we all know in Nigeria one of the major challenges we have in Nigeria is low electricity supply and this one, is one of the major factors that is affecting Bitcoin mining in Nigeria other ones are not as important as electricity supply because Bitcoin mining needs consistency when mining.
There is a saying that stays the journey of 10,000 Miles begins with a step.

Mykon Bobby

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