Cryptocurrencies are built upon a foundation of blockchain and steel

Crypto mining is revolutionizing world currencies

Cryptocurrencies (sometimes referred to as the “cash of the internet”) have become a global sensation, not only for their unprecedented growth in value, but also as a digital transferrable currency that’s gaining legal status in many countries. People who invested early into cryptocurrencies have become rich, especially considering that a single Bitcoin reached a high of USD $67,016.50 on October 20, 2021. Bitcoin may be the widest known digital currency (and the most valuable), but it’s not the only one. Other cryptocurrencies, such as Litecoin, Ethereum, Dogecoin, Ripple and Tether (among others) are gaining popularity as investors look to new and quickly growing options. Get a general overview of cryptocurrency at Investopedia.

Digital tokens exist on a distributed and decentralized ledger called a blockchain (read the explainer on cryptocurrencies and the decentralized peer-to-peer network system that serves as its foundation). Digital currencies don’t require an intermediary, such as a bank, to conduct their activity – making the entire system unregulated for now. 

Digital coins are created using vast fleets of computer servers running algorithms to solve mathematical problems in return for a fraction of a coin. This process is called mining. Despite the industry’s recent introduction, cryptocurrency mining has become big business with several public companies listed for investment on the TSX and NASDAQ stock exchanges. These legal Bitcoin mining operations, sometimes referred to as digital asset companies, include Canada Computational Unlimited Corp. (SATO), Digihost Technology Inc. (DGHI), Hut & Mining Corp (HUT) and Bitfarms (BITF) among others. Read why Alberta has the potential to become a new crypto hub in Canada. 

Legal mining companies employ hundreds of thousands of units (a single server dedicated to running the mining algorithm 24 hours a day) and the amount of energy and utilities to run and cool them are immensely expensive. The buildings that house these operations are specifically engineered to handle the sophisticated electrical systems and provide the necessary protection.

Whether the mining operation is a large corporation or a smaller innovator, Summit Steel Buildings is the ideal construction partner.

Steel buildings for cryptocurrency mining

The engineering of mining operations infrastructure is specialized and unique. Similar in some respects to cannabis cultivation, buildings need to house complex environmental systems to help control conditions to a specific degree. Much has been reported on how much energy crypto mining uses and how much additional heat is created as a result. Ventilation, hydro, internet reliability and building security are all major components that a pre-engineered steel building must support and incorporate into their design. New builds must rely on the expertise of construction companies that have vast experience in designing and building these specific types of buildings. 

Here are the engineering details Summit Steel Buildings factors into their crypto currency mining facilities, always with the end customer’s needs in mind:

1. Strong internet connectivity: Every Bitcoin mining center is successful due to the power of its connection to the outside computing world. You’ll create a partnership with your own internet provider and can rest assured that your building’s infrastructure and networking systems will have already been built to support them. We’ll work together to ensure your hashrate liquidation is most effective and supported with pre-installed cabling supports to ensure reliability and dependability. Our buildings enable your proprietary mining pool and switching algorithms to help you maximize the value and effectiveness of your mining operations. Your success is measured in results. The stability of mining using a top-of-the line software approach for the blockchain industry and for mining bitcoins is your priority. Ours is anticipating your needs so we can help get your operation up and running as quickly as possible with as few interruptions as possible to your final delivery date. 

2. Reliable energy capacity: The ability to maximize your value of hashrate and provide you with an ideal environment for institutional mining requires buildings to be built to support immense megawatts of energy. A high-density computation center that’s built for high-grade cryptocurrency mining, AI data processing and fintech infrastructure consumes an extreme volume of energy. According to Bloomberg Businessweek, the total electricity being used to ‘mine’ coins has increased tenfold over the past five years – using as much as the entire country of Argentina uses. Installing power systems that can handle and supply reliable high-intensity energy is essential, along with the capability to support the increasing electrical needs as operations grow. 

A Bitcoin mining operation needs extensive energy and environmental systems. The building must be purposefully constructed to meet these requirements in advance. Power needs for crypto mining facilities are dramatically different than those of normal buildings. Power systems require vastly greater amounts of energy and produce an immense amount of heat that needs to be dispersed effectively. The facility must be built with these needs in mind as retrofitting is going to become much more time-consuming and expensive. Steel building engineering helps to anticipate the increased power demands that more units require as they are installed and hosted.

As not every Bitcoin miner can be located next to more affordable energy sources (or co-located next to some other business that gives off energy as a by-product), most operations will use locally sourced megawatts. Buildings that can be built with pre-assembled components offsite and then shipped and erected on location allows construction to be completed quickly with little disruption to adjacent businesses. 

3. A cool and sanitary controlled environment: As an equipment-heavy crypto mining operation, sanitary and secure facilities with the optimal conditions to maximize the value of the proprietary mining pool and switching algorithms are required. Industrial-scale cryptocurrency mining operations require a stable environment 365 days a year with a consistent ambient temperature to allow your Application-Specific Integrated Circuit (ASIC) miners to run at higher rates.

Temperatures are strictly maintained using a dedicated environmental control system either using air cooling or immersion-cooling (where hardware components, including mining machines, are submerged in a liquid dielectric coolant). Cooling systems are essential to reduce maintenance, enhance automation and give more precise control of individual miners to prolong machine life. Humidity controls, exhaust fans and air filtering systems are necessary for good air circulation to help moderate temperatures throughout the building. For this purpose, Summit Steel Buildings’ custom designs use R-30 or R-40 insulation in their construction along with dehumidification and CO2 monitoring systems.

Easy-to-clean concrete floors and steel walls ensure your server units are stored safely within a pest-free and pristine environment to optimize the performance of miners. In fact, metal building construction requires little overall maintenance. They keep their look and do not crack or rot like other building materials, which helps maintain a necessary aseptic and sterile environment. 

4. Security: Steel construction protects the environment against outside intrusion and theft. All areas of the building contain strong steel security with locked doors and biometric access to provide complete control over entry. Wiring for security cameras and other biometric controls are built into the construction to offer the flexibility to limit access to certain areas.

A safe and sterile computing environment will yield a stronger industrial scale cryptocurrency mining facility, so you can focus on the blockchain ecosystem and generation of digital assets.

Let’s build a brand-new financial landscape

Mining for digital tokens is part of an innovative and fast-growing technology ecosystem that’s shaping the future of currency. Cryptocurrency operators of all sizes are using hashrate as a commodity to build the next-generation digital pipelines with their computing power. As digital asset companies grow across the country and add more capabilities to their operations, Summit Steel Buildings stands ready to help provide the specialized facilities they need. Digital mining facilities across the United States and Canada are focused on the blockchain ecosystem and generation of digital assets while we provide the vital infrastructure that supports it. And, as your business scales with new mining rigs for cryptocurrency to maximize the value your hash rate, we can provide a catered solution specially designed for institutional miners. 

Give us a call when you are considering your next crypto mining project. We’ll go over your options and provide you with a free quote to move things along quickly. We’re happy to discuss how we can make your next building project a success. 

About the author

Frank Melo has a construction engineering and business background with over 25 years of experience as a business owner and contractor. He was born in the Azores on the island of São Miguel and moved to London, Ontario at the age of two. After studying architecture, Frank graduated from Fanshawe College’s civil engineering technology program. He divides his time between projects primarily in Ontario and British Columbia. Frank can be contacted at Summit Steel Buildings at (778) 951-4766, by email at frank.melo@summitsteelbuildings.com or you can connect with him on LinkedIn.