Remote Mining | Freedom Lab NYC

Introduction

With remote mining you can get into Bitcoin mining without worrying about hardware installation and maintenance.

My S21 Pro Bitcoin miners, running remotely at Cyberian Mine. January 2025.

Benefits of mining Bitcoin

For short term ROI, you're better off buying Bitcoin directly. Long term, I believe it has 2 benefits:

Diversification: In terms of energy flow, I like the idea of a small continuous amount of Bitcoin flowing into my wallet. I believe in redundancy and I don't want 100% of my Bitcoin sitting in cold storage.
Acquisition: Getting your hands on new Bitcoins could become much harder as countries fomo into it. The available supply of BTC on exchanges is continuously decreasing:

Bitcoin Exchange Reserve

Mining costs

Below are the most important costs to consider before you start mining Bitcoin remotely:

Hardware cost (A single miner costs thousand of dollars)
Energy cost (expressed in dollar per kilowatt-hour, or in short $/kWh)
Management fee (mining farms can charge you an extra fee for hardware maintenance)

Choosing the right miner

When buying a new Bitcoin miner, there are 2 important things you must consider.

Hashrate

The computational power of a Bitcoin miner is measured by its hashrate. The hashrate indicates how many hashes per second the miner can compute.

The higher the hashrate, the more BTC your miner yields.

In 2025, the hashrate is commonly expressed in terahashes per second (TH/s).

1 TH/s = 1 trillion hashes per second

For example, the Antminer S21 Pro has a hashrate of 234 TH/s.

Efficiency

The efficiency of a miner is measured by how much energy the miner needs to consume to compute 1 terahash (TH). It's usually expressed in joules per terahash (J/TH) or watt per terahash (W/TH).

Efficiency (J/TH or W/TH) = Power (W) / Hashrate (TH/s)

The better the efficiency, the higher your profitability from the BTC you mine.

Example, the S21 Pro has a hashrate of 234 TH/s and a power of 3510 W

3510 / 234 = 15

The S21 Pro has an efficiency of 15J/TH which is Tier 1 (excellent).

Efficiency is critical because the amount of electricity you consume impacts your profitability.

Conclusion

You need to find the best combination of hashrate and efficiency for your budget.

Mining Fluctuations

This is a more complex topic for which I will make a dedicated section. Roughly speaking, 3 key factors will impact your day to day profitability:

Fluctuations in the price of Bitcoin
Fluctuations in your electricity bill
Fluctuations in the mining difficulty

As more miners join the network, the global hashrate (the total computational power of all miners) increases. In response, the mining difficulty adjusts upward, making it harder to find a valid block and reducing individual miners' yields.

Miners must also consider halvings, which occur approximately every four years and reduce the block reward by half.

How to start mining Bitcoin remotely

To start mining Bitcoin remotely you need to find a farm where you can buy or rent Bitcoin miners. You must also make sure that they offer managed services (miners setup & maintenance).

So far I found one reliable farm but I will update this page when I find more.

Cyberian Mine

Cyberian Mine is a german company with mining farms located in Siberia (Russia).

Pros

Cheap cost per kWh (as I write this, $0.0608/kWh)
Recent hardware
Quick onboarding (same-day)
Powered by sustainable energy
Lifetime hosting contract (you don't pay for hardware repair or replacement)
Stable hashrate (you keep earning during repairs/replacements)
Almost all cryptos are accepted for payment
New farm locations opening in Ethiopia and USA
No management fee
Awesome team and fast support
You can buy partial miners (e.g. 1/10 of an Antminer T21)
You can resell your hardware instantly (at a discount) or on their marketplace

Cons

Miners are more expensive (to cover for the lifetime warranty, automatic failover & 0 mngmt fees)
They only mine on F2Pool and the minimum payout is 0.005 BTC
You have a claim to the miner but do not own it physically (it cannot be shipped to you)
Location (Russian laws & regulations can be unstable and change quickly)

Cyberian Mine is facing minor challenges in Russia. To balance the risk, they're expanding to Ethiopia and the USA.

How to start mining with Cyberian Mine

Create an account
Fund your account with crypto or fiat
Go to the store

The most recent Antminers are available for purchase.

Buy a full or partial miner
Wait a few hours for your miner to go live

Cyberian charges daily for the electricity (called the hosting fee). Make sure you keep enough cash in your balance to avoid interruptions.

Once your miner is live, you're able to see your performance metrics:

My mining performance metrics in January 2025. Notice I kept enough in my balance for 1 year of electricity.

Notice the Open F2Pool button. It opens your dedicated F2Pool page where you can view your hashrate performances live.

More metrics are also available on your Cyberian Dashboard, such as the hashrate report, Bitcoin earnings and pool payout schedule. You will also find your invoices for the electricity (hosting fee) with a daily breakdown in your profile's settings.

In your profile's personal data, make sure to add your Bitcoin wallet address for the payouts.

Bonus

If you keep more than 500 euros in your balance, you get hosting discounts.
Cyberian has a great telegram channel for support and updates.