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Written by: 0xjs@bitchainvision
“One day in the currency world takes one year in the world.” People often use this sentence to describe the rapid changes in the narrative of the encryption industry.
However, Bitcoin, as the mainstay of the crypto industry, has one activity that has been running consistently since its birth, and it is as motionless as a mountain.That is Bitcoin mining.
Bitcoin mining power and difficulty continue to rise
However, as the mining industry that is the basis of Bitcoin, from the disappearance of Roast Cat in 2014 to the disappearance of Biyin Mining in 2022, many once-famous mines have not withstood the impact of the market or the test of human nature.How rare and precious are Bitcoin mining farms that can persist through multiple cycles.
There is no doubt that those miners that have endured and survived multiple cycles can win people’s trust. This is a comprehensive reflection of the founder’s character, the soundness of operations and their love for the industry.MineBest, established in 2017, is such a Bitcoin miner.Since its establishment, MineBest has successfully spanned three crypto market cycles of 2017, 2021 and 2025, relying on the founder’s love for the industry and steady operations.
Recently, Bitcoin Vision conducted an exclusive interview with Eyal Avramovich, founder of MineBest and director of BillMining.In the interview, Eyal Avramovich introduced us to the origin of MineBest’s founding, MineBest’s global layout, the cloud computing service launched in 2023, and the future trends of the industry.
The founder and his life
Eyal Avramovich is first and foremost an outstanding inventor.He holds several patents, most notably the world’s thinnest scale, the world’s thinnest mobile phone charger and the world’s first massage robot.These products are best-selling on Amazon and the American shopping channel QVC respectively.
But perhaps Eyal Avramovich’s greatest achievement is in the cryptocurrency space.He first came across Bitcoin in 2016 and was fascinated by the solutions it offered in terms of independence, flexibility and technological opportunities.He found Bitcoin and its mining activities to be the perfect blend of his lifelong passions: technology, entrepreneurship, and finance.
For this reason, Eyal Avramovich founded MineBest in 2017, a project designed to help people enter the Bitcoin mining industry without professional technical knowledge, so that more people can enjoy the long-term benefits of cryptocurrency mining.
In 2019, MineBest became one of the top ten Bitcoin mining farms in the world, managing more than 210,000 mining machines for customers. It is one of the largest operators in the industry and won the Professional Design Award and Excellent Construction Award at the 2019 World Digital Mining Summit (WDMS) in Frankfurt, Germany.
MineBest currently has more than 15 different mines in South America, the United States, Central Asia and other parts of the world, providing state-of-the-art equipment and infrastructure, maintained 24 hours a day by experts and technical teams.MineBest is also constantly exploring new mining sites.
The origin of getting into Bitcoin mining
Eyal Avramovich revealed in the interview that he entered the field of Bitcoin mining in 2016.Why did you enter the Bitcoin mining industry at that time?Eyal Avramovich said he saw that the market was maturing rapidly and that the technology had long-term potential. As an electrical engineer, he knew he could raise the bar for large-scale infrastructure and make industrial-grade mining accessible to both small and large players.
Eyal Avramovich believes that Bitcoin is evolving into a “sound currency” and a “reliable store of value.”His goal in entering the Bitcoin mining industry is to build an efficient, transparent, and safe operating system so that people can accumulate Bitcoin in a stable way, whether by holding it directly or by mining smartly.
MineBest’s global layout and compliance strategy
We know that two factors are particularly important in Bitcoin mining, mining address and compliance.The mining address directly determines the cost of electricity, and compliance rules determine the long-term continuous operation of the mine.
According to Eyal Avramovic, MineBest currently operates two large mining farms in Texas, with a total available power capacity of approximately 400 megawatts, and the electricity prices for the Texas mining farms are very competitive.
In addition, Texas is a cryptocurrency-friendly region with clear regulatory rules and strong grid resiliency, which allows MineBest to balance reliability and cost-effectiveness.Each site has its own advantages – from substation-level redundant design and modular construction to thermal management adapted to the local climate.
MineBest Texas Mine
Eyal Avramovich revealed that when MineBest expanded internationally, the principles it followed were simple: choose areas with stable energy policies, sign long-term power contracts, find local partners who are familiar with compliance requirements, and ensure that projects meet utility-grade standards.MineBest’s legal and compliance team will adjust policies according to regulatory requirements in different regions to ensure that operations are legal, responsible and sustainable.
BillMining cloud computing model
After spanning the first two cycles, after the third cycle, MineBest chose to enter the cloud computing power mining business.On September 6, 2023, MineBest President Eyal Avramovich and BillMining CEO Mr. Zhang Haibiao held a formal signing ceremony in Jeju Island, South Korea. The two parties cooperated to launch cloud computing power mining.Among them, MineBest and BillMining are deeply bound and have cross-shareholdings with each other.
According to Eyal Avramovich, BillMining’s cloud computing power model allows retail users to purchase a defined share of computing power in operations for a fixed period.MineBest and BillMining are responsible for hardware, electricity, running time and maintenance. Users receive mining benefits after deducting electricity and service fees, and can view reports transparently.Cloud computing power revenue is mainly affected by three major variables: Bitcoin price, network computing power and difficulty, and energy and operating costs.
Why do retail investors choose cloud computing power mining?Eyal Avramovich said that for retail users, the core attraction of cloud computing power is that it is easy to operate, enjoys institutional-level cost advantages, and can gradually accumulate mining income through the long-term average cost method.
Regarding users’ concerns about cloud computing power income and even running away, Eyal Avramovich said that the contract structures of MineBest and BillMining are different from other cloud computing power mining. Their focus is on: high operating rate, clear fee structure, safe payment, and never promise fixed returns.And because price and difficulty may fluctuate in opposite directions, MineBest and BillMining will educate customers to use Bitcoin as the unit of calculation and to view mining with cyclical thinking.
Keep your original intention and stick to Bitcoin mining
Since the rise of AI in 2022, Bitcoin mining companies represented by Coreweave, IREN, etc. have successively entered the AI data center business and brought huge benefits.Does MineBest have any future transformation plans?
Eyal Avramovich said that for MineBest and BillMining, the core is still Bitcoin mining, because there is still significant natural growth potential here.MineBest and BillMining will continue to evaluate opportunities in related computing fields, but the current focus of capital allocation is still to expand the scale of computing power, improve efficiency per megawatt, and deepen professional understanding of the power market.
MineBest’s assessment is straightforward. The AI hosting business may be a good business, but its risk-reward structure and return on investment are different from those of Bitcoin mining, and its operating genes are also different.
Eyal Avramovich said that the growth opportunities for MineBest and BillMining lie in continuing to expand scale and efficiency, becoming one of the world’s top mining companies, while maintaining a solid balance sheet and long-term power strategy.
Bitcoin Mining Industry Trends and Future Competition
After the Bitcoin halving, Bitcoin’s computing power has continued to rise, mining has become increasingly difficult, and more and more miners are competing for the halved Bitcoin block reward.
What does this mean for the Bitcoin mining industry?What are the future trends of the Bitcoin mining industry?
Eyal Avramovich said that the future evolution of the mining industry will depend on three key factors: power strategy, hardware life cycle, and software optimization.
• Power strategy: Enter into long-term power contracts, engage in demand response programs where appropriate, and diversify energy sources.
• Hardware lifecycle: Maintain disciplined upgrade cycles, high salvage value recovery rates, and thermal management to extend device life.
• Software optimization: Maximize the computing power performance per kilowatt-hour while protecting equipment through technologies such as firmware, scheduling system, and real-time power limiting.
He also said that industry consolidation will continue to advance, inefficient mines will be eliminated, and capital will flow to operators with low costs, strong compliance, and good relationships with communities.In short, mining is transforming into “advanced energy infrastructure,” and the winners will be those that can operate like power companies but speak the “language of Bitcoin” fluently.
