In the Bitcoin mining hosting industry there is a huge problem with trust. Individuals who are looking to get into Bitcoin mining have very few routes to take.
You can build out your own facility. However this is quite costly in both time and money. Getting access to a large amount of cheap power is also NOT an easy task. If you are able to run a few ASICs at home, you understand there is some work and costs involved with that as well. You need to have specific outlets and breakers. As well as a way to deal with all the heat and noise.
The only other route is you can send your ASICs to a hosting facility. These facilities will run your ASICs for you. They have access to cheaper power and better ways to manage heat/sound. This is typically the easiest and most practical solution. Simply buy the ASIC(s), have them sent to the hosting facility and collect your BTC passively. Sounds like a great deal right?
The problem is trust.
Sending thousands to tens of thousands of dollars of equipment to a hosting facility you have never met is not an easy thing to do. There has been no shortage of bad hosting providers making promises they couldn't keep. In fact, most of our customers have come to us with absolute horror stories about providers damaging customer machines, raising hosting rates midway through the contract, having excessive downtime, not answering calls/emails, etc. The list goes on and on. Sidenote, this was also the reason for us to introduce our good faith clause in our hosting agreement. The good faith clause allows the customer to terminate the agreement if we provide bad service. It's us putting our money where our mouth is by giving customers the power to leave if we don't do what we say we're going to do.
Anyway, there needs to be a way to verify hosting facilities. Where you can see a detailed process that you can expect to go through, see the uptime data, verify the power rate and fees, and see the facility.
The best thing we've found is Hashbranch. Which is a bitcoin mining hosting review site. Hosting providers can sign up through their platform and individuals looking for hosting providers are able to browse the wide variety of different hosting companies.
I have personally talked to Tom, the founder of Hashbranch, and I absolutely believe they are in a position to be the go to place for connecting individuals and hosting providers in a transparent and trusted way.
You can search out hosting providers by location, energy source, cooling method, and read the reviews of others who have used the hosting provider. This makes it very easy to find a hosting provider that checks all the boxes you are looking for.
This industry needs to continue to work on trust and it has been exciting to watch Hashbranch step up to the plate to try and solve this problem.
If you are a individual looking for trusted hosting providers. Check out hashbranch.com and tell Tom the Wilson Mining brothers sent you :). (Eric and I don't receive any compensation from Tom/Hashbranch. We just really like the website and think it's important to bring attention to others in the industry that are trying to have a positive impact on the space).