The increasing demand in the digital mining market

Cryptocurrency mining has experienced a growing demand globally, mainly driven by increased interest in digital assets and the search for alternative forms of investment and decentralized financial transactions. As stated in the market research report by Technavio (2020), the global cryptocurrency mining market is expected to grow at a compound annual growth rate of over 10% during the forecast period from 2020 to 2024.

This increase in demand can be attributed to several factors. Firstly, the growing recognition and acceptance of cryptocurrencies as a legitimate asset class have led many investors and companies to seek profit opportunities in mining these digital currencies. Additionally, the emergence of new cryptocurrencies and the consequent increase in competition among miners have driven market growth.

How to address this demand?

Countries such as China, the United States, and Russia are investing in mining infrastructure to take advantage of the economic and technological benefits of cryptocurrencies, and it is with the growth of this demand in mind that MODULAR has created a solution aimed at cryptocurrency mining, the MinerPod.

It is a robust infrastructure designed to ensure high efficiency, security, and reliability during the mining process. With a processing capacity of 1.12 MW, this technology consists of modules specially designed to withstand the intensive energy demands and heat generated in the process. This module is specifically designed to withstand the intensive energy demands and heat generated internally during the mining process, and on the exterior, the module features CF-60 and IP65 characteristics.

And what’s the differential of this solution?

The solution features modules that house a forced exhaust system consisting of eight fans equipped with inverters. These fans are responsible for maintaining the internal environment within acceptable temperature limits, ensuring stable operation of the equipment. The hot aisle containment separates the hot airflow from the cold airflow, optimizing heat removal and increasing the energy efficiency of the system, and internal temperature sensors constantly monitor mining environment conditions, adjusting airflow as necessary to maintain ideal operating conditions.

The miners’ power is supplied through monitorable rPDUs, ensuring safe and efficient distribution of power to the equipment. In the event of a main power failure, an auxiliary UPS is used to provide power to support systems (BMS, network, etc.), this solution aims for a faster response time in potential operational needs, as well as supporting remote commands and sending monitoring data to the operations team

In summary, the increasing demand for cryptocurrency mining reflects the continued growth and evolution of the digital assets market, and it was in the face of this evolution that MODULAR saw the need to create a specific solution that differentiated itself from other options in this expanding market.