A Home-Grown Crypto Startup In Haryana's Rohtak Holds Hope For Future

ndtv.com:

New Edge Soft Sol Pvt Ltd, is a cryptocurrency startup founded by Pardeep Narwal (second from left)

Rohtak in Haryana, known as the dairy hub of the country, is nowadays milking (or rather minting) cryptocurrency, using a mining farm with 300+ Graphics Processing Units (GPUs), costing them an electricity bill of Rs 3 lakh a month.  

New Edge Soft Sol Pvt Ltd, founded by Pardeep Narwal, is situated close to the age-old Palika Bazaar of the city, where three engineers man the machines extracting Ethereum 24x7 in different shifts. A three-storeyed building houses their office on the first floor, rigs on the second and accommodation facility for engineers on the ground floor. 

Mining is essentially validating crypto transactions on the blockchain, a public ledger system. It not only validates but also secures the system. Computers all around the globe can do it by Proof-of-Work, which means by solving a complex algorithmic problem. But, this calls for speed and strength of the system. 

34-year-old Pardeep, a gold medalist in M. Tech, started the venture during the pandemic with his wife Jyoti Lamba and college friend Monu Nagar. They not only mine for themselves but also host clients on their machines who want to invest but don't have the infrastructure.  

This 14-Gigahash data centre consumes 35,000 electricity units which translate into a heavy electricity bill every month. A big turbine installed on their terrace sucks the hot air from the ducts installed above the rigs and another cooler brings in fresh air from outside to maintain the temperature.  

Rig is an arrangement of hardware elements: specially designed motherboard, server, GPUs and Internet connection, required to perform cryptocurrency mining.

One small room attached