Seeking ways to lower mining costs

TO improve his Bitcoin mining profitability, local miner Derek Leong, a 39-year-old IT engineer, seeks methods to lower his cost and explore the market for the latest equipment.

"Because of the cost of electricity, it's not very feasible to mine at home," he said. Instead, he mines Bitcoins at his office as well.

Furthermore, HDB flats are not wired for industrial use, he said. With the introduction of more powerful mining machines which use a substantial amount of power, power cost will increase. There is also the possibility of tripping the main circuit at home.