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How This Singaporean Turned Melaka Ghost Mall Into RM2.5 Million Crypto Farm

How This Singaporean Turned Melaka Ghost Mall Into RM2.5 Million Crypto Farm

The mining farm is located in an empty mall in Melaka

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Cryptocurrency has been rising in society for some time now. However, when it was introduced in 2009, it received few responses.

Nevertheless, since it has been growing, people have started to create mining farms for cryptocurrency.

Recently a video showcasing a Bitcoin mining farm has been circulating virally on social media platforms.

This video was originally posted by a TikTok user in his account, @koocester. However, at the time of writing the video was not available on his TikTok page.

Nevertheless, the video was shared by other netizens on other social media platforms as well.

In the video, it was shown that an individual from Melaka known as Bryan Zhou a Singaporean has a Bitcoin mining farm in Melaka. The mining farm is situated inside an empty shopping mall.

Bryan is the founder of Frontier Digital Asset Management.

According to Bryan, the mining farm can also be called a data centre. To set up the mining farm it cost him RM2.5 million. 90% of the electricity from the mall is used for mine farming and because of that the electricity bill surges up to USD200,00 (RM940,174).

When asked why the mall is empty, Bryan said that because of Covid-19, many vendors had to close their stores and leave the mall.  

Bryan also added that this is the biggest commercialised cryptocurrency mining farm in Malaysia.

Crypto Mining Farm

In the video, Bryan shows around his mining farm and many sections of the farm help him in the mining process.

The first section that he shows in the video is the farm itself which contains all the servers for mining purposes. There were also air filters around the farm to make sure that place was clean.

There are a total of 500 machines in the server room to run the mining farm. In the next section, there ventilating fans that bring the heat out from the server room.

This is to make sure that servers do not heat up and it is always at a cool temperature to perform the mining.

Next Bryan shows the control station where the whole mining is controlled. In this room, one can control the network and keep an eye on the status of the machines.

How Does Mining Work

It’s a straightforward idea. The process of confirming a transaction for it to be included in the public ledger known as the blockchain is known as Bitcoin mining.

Blocks of transactions are added, and all you need to validate a Bitcoin transaction is a computer connected to the internet and a blockchain-connected piece of software.

Valencia, Spain, April 5th 2021: A golden bitcoin on the dirty hand of a miner. Metaphor of mining BTC and cryptocurrencies. Digital business and decentralized finances concept.

This can be done using a single computer. But when one wishes to multiply their income through the process, the mining farm comes into play.

As explained above this is where many computers are stationed in one place and allowed to run 24/7 to generate the mining process and collect income from it.

“So let’s say I send money to you, my computers will verify if the transaction is real. Once this transaction is verified, a new block is added to the chain. It’s how we get rewards in Bitcoin,” Bryan explains further.

To put it simply, the whole process of the mining farm is the verification of transactions and providing security to the network.

Income

In the video, Bryan said a month’s income is around USD 360,00 (RM1.7 million). From the mining process, Bryan receives 6 bitcoins in a month.

The price of a bitcoin now is USD 67,666 (RM318,257).

Hatten Land And Frontier

As stated above, Bryan is the founder of Frontier Digital Asset Management. According to The Edge, Singapore-listed Hatten Land Ltd has partnered with Singapore-based Frontier Digital Asset Management to jointly operate at least 1,000 cryptocurrency mining rigs within Hatten Group’s properties in Malaysia.

The rigs were installed in phases starting in Q4 2021. The agreement follows Hatten Land’s announcement to repurpose its retail malls in Melaka for digital activities, leveraging existing infrastructure and lowering energy costs.

Frontier will install, operate, manage, and maintain at least 1,000 crypto-mining machines at Hatten Land’s Melaka properties. The rigs will initially mine Bitcoin, with alternative coins to be considered in the future.


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