A few kilometers from Reykjavik airport in Iceland, there are inconspicuous metal buildings. They belong to the company Genesis Mining, which specializes in the production of cryptocurrency, particularly Bitcoin, Etherium, as well as Zcash, Dash and Monero.
In Iceland, it has one of the world’s largest farms Enigma. Inside it is placed thousands of graphics cards needed to confirm transactions and work blockchain.
Photographer Lisa Barnard visited the farm and told how it is arranged.
The Enigma complex was launched in 2014. It was not easy for Genesis Mining to choose Iceland for its construction.
Due to its unique location between the North Atlantic Ridge and Eurasian lithospheric plates, a volcanic relief with glacial rivers was formed on the island.
Large amounts of water and underground heat are used to produce cheap electric power; on average it costs about $0.06 per kilowatt hour. This is a very cheap price, several times cheaper than in all European countries.
Data centers consume a lot of energy. Genesis Mining pays over $1 million a month for electricity at Enigma. In 2016, 1% of Iceland’s GDP came from data centers. Of these, 90% were farms for mining cryptovoltaic.
What does Iceland’s largest cryptovoltaic farm look like from the inside?
Enigma is located on an old runway from World War II. It is located three kilometers from the main airport of the country.
Inside the buildings there are many video cards. They are located above each other, and their combined power is comparable to a supercomputer.
Elias Inarsson, Head of Technical Service, sets up the video cards. In the room, you should be wearing noise-canceling headphones.
Video cards, which will soon connect to computers for the mining of the new cryptovite.
Conventional computer coolers are used to cool the graphics processors.
Each building has six turbines on the ceiling, which absorb the hot air created by computers.
The turbines rotate with a capacity of 60 washing machines.
Each of the Enigma buildings covers an area of almost 1200 square meters. Together they consume more electricity than all the houses in Iceland combined.
Genesis Mining was founded by German businessman Marco Strong. He believes that cryptocurrencies are still in the development stage and that their production will be more energy efficient in the future.
In the beginning, cryptocurrency mining was similar to gold mining on the river bank. Now the cryptovolta industry has moved to industrial production. (Marco Strong, CEO of Genesis Mining).
The Enigma farm built by Genesis Mining is a direct confirmation of the words Strong.