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I personally know several people here in Bulgaria who caught up with the moment and made millions searching for cryptocurrencies. Said this before Frog news An IT expert from a large foreign company who wished not to be mentioned. Here’s what he explained about cryptocurrency farms:
– In almost a week, two cryptocurrency digging farms were opened in Bulgaria, illegally extracting electricity. Could you tell us what these farms are and what is their purpose?
– Farms are usually premises that must meet at least two conditions: have a powerful and possibly uninterrupted power supply, to be able to install fans to cool the room. The practice in our country in Bulgaria is usually as follows: the investor, who has decided to start this business, finds a “suitable” employee of one of the large electricity distribution companies, which deals with the measurement of electricity meters. They find a suitable room in the area, agree to pay you a decent amount of money, and in return, expect this employee to come by the room where the farm is. They connect to the network illegally and start working. These premises are usually old workshops, cooperative farms and large abandoned workshops. They build silently and start working. Once the farm is up and running, there is no need for people on it, everything is managed remotely.
– What kind of people are involved in this activity? Should they be IT experts?
– The most important thing for such activity is the large initial investment. The construction of such a farm costs from hundreds of thousands of levies to millions. There are basically 2 options: an investor who can afford such sums and who can also hire an IT specialist with the knowledge to keep the farm running. There are also many business cases of this type that must be dealt with by IT specialists who have previously had a successful business and have accumulated the necessary funds for investment. Such a farm could not function without a suitable IT specialist or a few to back it all up. Solid knowledge is also required for the correct construction of the electrical network.
– Is it a criminal business and what is the amount of the profits?
– No, this is a business that cannot be characterized as illegal or criminal, if this business for any reason can be classified as criminal, it would be just as criminal to work on your computer at home. The benefits depend on several factors: the size of the farm, ie. how many pieces of hardware they “dig” inside at the same time, what is the price of electricity the farm pays, if at all, and what is the cryptocurrency and its price at any given time. The profits are huge. There are also calculators online where you can calculate exactly how much your earnings will be.
– Have farms of this type been found in other countries?
– There are many, really many farms around the world that are even now digging all kinds of cryptocurrencies. The main difference is that in other countries the property owners do it in a totally legal and transparent way. They find countries where the price of electricity is low and pay for the electricity they consume accordingly. There are also many farms in Bulgaria, but there is a quirk: the bigger the farm, the less likely they will pay for electricity. In fact, most work without paying for electricity.
– Do you know cases of successful cryptocurrency seekers somewhere in the world?
– Yes, I personally know several people here in Bulgaria who came to the moment and made millions with it. For example, in the beginning, the price of the most popular cryptocurrency, Bitcoin, was only a few dollars. They immediately started digging, they accumulated a lot of Bitcoins and the price started to rise for years.
Some of them were tempted and sold their Bitcoins and made a lot of money, while others resisted even when the price was close to BGN 40,000. / BTC, sell them at a big profit. And I have other acquaintances who are still keeping the “dug” coins and expecting the price to exceed BGN 100,000.
Questions from Katya Ilieva
Bulgaria
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