Desert mining a new promising project by Patterns.Ltd

Recently we have completed the early steps building a mining farm with my friend Abdullah in the middle east area.
when we starting mining, our purpose is just to have fun and to discover cryptocurrency world in sake of curiosity.

definitely we bought our rigs part like everyone else, from Amazon and eBay; struggling to find reasonable prices for the required equipment.
Thus our first rig was a little bit expensive and the second one also.

today we have more than 18 rig with much more lower prices than the early rigs we bought.
After doing mining for more than 6 month, our perspective about mining has totally changed.
despite mining is a hard process and it take a lot of effort, we notice that we can expand our farm because of the advantage of electricity cost.
Today we have a vision to build the biggest legal mining farm in the middle east plus having mining pools serving in the middle east area.
However we have the advantage to compete with other mining farms in world because of low cost of electricity power; if we have the right equipment and an enthusiastic team.
Our project is made of three main components.
1- mining farm.
2- mining pools(own servers).
3- Arabic cryptocurrency exchange platform.
So far we have the initial funding to expand the farm and start the project.
Nevertheless we have more funds in our waiting list from local investors and we could issue ICO/Initial Coin Offering in the future.
All the above seems to be promising but we have a lot of important issues or in other word concerns to be considered.

Having a strategy to achieve your vision is very vital to success in business.

Adopting Michael Porter Five Forces tool for business strategy we come up with the following:

Competition in the mining industry
There are thousand of mining farms around the world and i believe they are doing good or if not thy will stop mining.
Definitely the competition will be aggressive since every farm strive to develop their equipment in order to compete with mining difficulties for each coin.
Thus we are aware the challenge and the risk that we want to take, but on the other hand we know that the last mining coins will consume the most maximum electricity power, consequently the competition is all about electricity power and its cost. According to our estimations electricity cost will be 0.10 USD/kWh first phase, 0.08 USD/kWh second phase and 0.06 USD/kWh for third phase. However we know that is not enough but we believe that we can do it and be one of the big winners in the finish line of this endless crazy marathon.
Meantime myself and my colleague covering hardware and software technical issues, and since both of us are engineers, maintenance is something we are very good at doing it.
in this vein we understand your limitations in programming and development, thus we are looking for partners to integrate the opportunities in order to compete.

Potential of new entrants into the industry of cryptocurrency
It is about how easy it is for a new mining farms to enter the game . The regulatory hurdles are low, if proprietary or technologies aren’t required to produce a coin or deliver a service, and economies of scale don’t matter. Then it’s relatively easy for new mining farms to enter and compete away potential profits.
Our opinion in how is it easy for building new mining farm and compete in the market. As mentioned above, mining marathon is still in the beginning line, we believe the opportunity is there for us or for others as well. The question here is, HOW they will survive all the way to the end ?

GPU, ISAC, and other hardware supplier effect
Number of suppliers and the uniqueness of their products and price can control switching away from that supplier difficult or expensive. However we do realize at this point that we are so weak in order to secure our needs, thus we are striving to find reliable suppliers or in other word we are looking for partners who are interested in such project.

However we started dealing with bitmain antminer with 10 devices, but it is very difficult to get your hand on these equipment on massive quantities.
Referring to GPU mining, all our cards were bought our rigs part from Amazon and eBay. consequently we could not rely on suppliers we did not meet or have an agreement document with them when we talk about massive quantities.

Cryptocurrency buyer power.
This refers to how buyers behave with the cryptocurrency market, and how coin holders can control the market price for their own benefit. If there are less buyers then things get out of control, but this is not our case. I believe million of people are rushing now to buy all kinds of coin.

Threat of substitutes
is the ease in which coin buyers or mining farms can find a different way of doing or getting what they currently do or get from a an exchange website or a direct from a mining farm. If it’s easy, then existing mining farms can wave bye-bye to higher prices and profits.

Something big is about to happen

The real reason to write this topic Is we are looking for partners of success, we are now getting the necessary legal permits in order to protect rights of investors and to be a recognized entity.

So If you are a supplier, programmer or developer, we would be more than happy to cooperate with you. We are honored to meet face to face with you and invite you to visit us or we could come to your place.
Please do not hesitate to add a comment or a question about going further in this project as you might be one of the team members or a potential supplier and make business with us. Thanks for your time reading my post and i wish you a wonderful day.