Rent mining time and receive some extra Electroneum while supporting the blockchain ! Sounds catchy. Just need to work out profitability so it is worth it for those renting.
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In Elevate Group you buy a miner and you recieve 80% of profit(cost of power and pool fees deducted from revenue) as long as it is profitable, 20% goes to them.There is ofcourse risk of a miner stop being profitable, even though they only pay 5.5 cents per kilowatt-hour, and that’s why I would love if they offer Electroneum mining beside Bitcoin mining as I believe more in Electroneum, and I like more their concept instead of renting hashing power.It could also maybe work like that, rent mining time, but if they guarantee profit, that’s ideal for investors but then they take all the risk of miner stop being profitable before it pays for itself, so I don’t see them(or someone) doing that…
As asic miner is not cheap, they could offer buying a fraction of a miner.We would also want as low as possible power costs, ideally no power costs-solar power 
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What is the best hardware to mine ETN
I think antminer x3, but I’m not sure…
I’ll try to work on the math and try to get some numbers together
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There is a mining farm in my town, northern Norway. If there was money for a project like this I can do some research with the existing farm and create a business plan, location, support and a build plan. Tell me how much money we can raise and i can tell what we get. We got the infrastructure ready for a build.
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Lokaly we got bitfury
Mining farms are usually located in cold countries with low electricity costs. Right now at this price level unless you are not trying to recover re-occuring costs and willing to take a current loss on paying for the electricity and ASIC and banking on the future price, mining ETN even with ASICs is not very profitable - you are better off mining another coin and selling it on an exchange for ETN if you can find a way.
If you don’t believe me the best guy to consult is cryptokangaroo on the Electroneum telegram channel as he runs a number of farms.
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This is how they made the mining rigs, they stand outside. I don’t know how many they got.
They choose the location based, stability and climate and we got real cheap Hydra power.
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I appreciate your imput as it is just an idea and still trying to work in the practicality. I know the profitability isn’t much and would take some time to pay off. But if a crowd fund happened to raise funds for equipment with a share of overall profit. if there were 1000 + miners running and we rented mining hours based on a set price/payout and charge 20% for power usage/storage/maintenance I think depending on how many people are interested it could be profitable still. There’s so many who don’t/can’t run Asics but I believe would rent If they could. If my math is right I believe renting would be cheaper than buying on an exchange. Of course it would be smaller around 50 to start and test than build up. It’s all about the numbers I’m still trying to figure that all out but I think the concept of being able to that is worth giving thought. Not saying I’m the one to go out and do this although I might but that’s why I brought it here so everyone could give their imput. Much appreciated again @Aironeous
I like that this idea seems to be taking more traction … keep me posted please!!!
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Thank you and will do! I’m trying to get as many opinions as I can as I love this communities imput so if anyone is reading this please express your thoughts!
I like the idea actually, I think it could benefit the community and I’m sure there would be more than enough interest to make something happen. Doing a monthly subscription on it at various tiers to help pay for and run the mining farm could work well I believe.
Not sure how the legalities would work of course on the whole thing. We would really need a very trustworthy group of people to run it. I like the sub division idea if Electroneum could do that with no legal issues world wide.
Far as power goes my thoughts would be to do the Tesla solar roof in conjunction with their batter pack setup. The roof will be far more available sometime in 2019 I believe now that the model 3 production is much more streamlined.
For more information on it take a look:
Long term it’s certainly offset much of the cost of electricity.
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Yep let’s do it. Basically a cloud mining service? I think it will have to be Asic though.
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A subscription was kind of along the lines of what I was thinking. Whether it be monthly weekly or even daily. Power usage is defiantly at the forefront and I believe reusable energy would be key. I will definitely look into tesla solar more. If we had enough interest in this and a subscription base I think we could get it going with a crowd fund. Initial investors get residual share of overall profits which wouldn’t be massive but an extra % of electroneum. I think many people who would want to do this would be holders looking to collect a little extra Electroneum while supporting the blockchain. Of course there would be some wanting to sell still but it could greatly offset the asic dumpers and truly secure our blockchain if this was grown large enough. I completely agree a sub division of Electroneum sounds best and most trustworthy. If they even put someone in charge of the division under them this would ease transparency and draw a lot more users of electroneum to get involved with asic mining. What are your thoughts @chris.gorman @ETNCEO ? I’m still working on the logistics but this seems to be something that would be of small profitability individually but is more of a way for those who can’t run an asic to get involved and support the blockchain and protect more of the blockchain rewards from being dumped. This is also at current market price so I believe holders like myself would see it as an advantage to increase our electroneum coins. If we were able to offset the dump of asic miners this would also greatly help our coin as their control over the rewards payout would be far less , as we have seen the impact the asic dumpers have I believe this is a way to completely strip this negative entity of their power and put the positive reinforcement back into electroneum. Also being a holder I believe the current price is way undervalued and this is a great opportunity to collect more. I was close to start asic mining and paying out of pocket so I could hold the coins. Kind of same concept as paying for coins on an exchange as paying to rent mining time but it would be of great benefit to the blockchain and to the stability. Thanks for your imput @J5Alive I’ll definitely be looking into that!
I was pondering that very thing yesterday. Is it possible for the Electroneum blockchain to be cloud mined? (I’m guessing they would need to fork again tho?) Maybe they’re already thinking of this because it’s new technology and they see how it’s working on iOS. I feel this may be the way things are headed and it would be the perfect way to do this in my belief. Than you could rent cloud space as I have seen before elsewhere. Either way I believe this concept is growing I appreciate your thought it’s really got me thinking now! @Electro-dragon
Vote if you like this concept I’m trying to gain some awareness on this forum to get as many engaged in this conversation as possible as I believe it could be a great positive impact if we come together and try to find a way to do this. Right now it’s still in concept stage and I need everyone’s imput and views on the subject whether it be positive or not. I would enjoy some constructive criticism as this would only further this concept into becoming reality. Thank you Electroneum community !
That is great this could be a great test approach. Do you have decent margins I’m still working numbers. Can you elaborate on cloud mining? I’m very interested in reusable energy we could set a standard in green mining @Jokke
I think it would be great if Electroneum could offer this to the community somehow
Let me know when we have something official, I will help support it 
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