Just received 247 units of asic s17s. Startup costs of apx 700,000 dollars. Running them out of NM with avg energy supply costs of 12.06¢ a kWh. Planning on mining 1block of BTC a month which is 6.25 BTC in reward.
How fucked am I if this dumps to 10k or how insanely rich will I be if this pumps to 100k?
I know I can count on Zig Forums for good advice.
Started a mining operation
Levi Bell
Other urls found in this thread:
minerstat.com
asicminervalue.com
twitter.com
Brayden Ramirez
0.12c user? Goddamn, my home rate is 0.10c u using any solar or wind? That seems intense for a profitable investment. I'm doing a farm at 0.06c right now with s17s.
Brody Young
Where are you getting .06¢? I haven’t started them up yet because I’m still researching places to go. NM is cheap as is Colorado. I was in California before but the costs were tiered all the way up to 40¢ And was losing money.
How many units are you running?
Brayden Wilson
assuming $20,000 BTC, you get paid 125,000 a month, but your production rate is so low that yu could go several months without making a block statistically speaking. i don't know what your expenses are, but what is your estimated profit going to be assuming you get 1 block/month?
Easton Brooks
At 12¢ and assuming BTC is 20k I’m looking at 40-60k in profit
Bentley Rivera
Also why do you say statistically I could go months without a single block mined?
Colton Williams
If I were you I'd start low with GPUs mining ETC and other shitcoins then diversify to ASICs. If you can't profit off of the GPUs at least you could sell them to actual gamers.
Liam Williams
me, ieven today i would have bought $700,000 worth of Cardano @ $0.15/each, passively staked and earned 35,000 usd per year for zero effort. when cardano hits $1 next year you would be earning $210,000 per year for ZERO effort, forever. as Vardano hits $2 and beyond you're earning 420,000 a year and up and up passively. what you have is a lot of expensive hardware with a limited useful lifespan, and when BTC hits $100k/ea, the hashrate is going to go through the stratosphere and you will be lucky to make one block every 2 years, by which time your asics are obselete and worth zero dollars. fuck man, can you sell that hardware?
Samuel Gutierrez
I’ve already bought the asics. No going back.
Thomas Rodriguez
Nice!
Connor Myers
i thought most miners live near hydro dam power for cheap electricity. 12c is like average us kwh
Ryder Smith
i would not start mining now but if i did i would move so far north that i at least don't need to get rid of the heat but rather i would use the generated heat to warm my living space
Tyler Lee
>mining with 12c/kWh
you are fucked
Jackson Russell
Op is a certified retard, eth is going POS, PoW will be retired mid-term
What a fucking idiot lmaooo
Leo Johnson
because your block mining is a low probabikity event at the rate at which you expect to produce blocks. you could also produce 3 blocks in one month. statistically over years the average would be 1 per month / 12 per year. but thatassumes static betwork conditions. when bitcoin is at 100k hashrate will be higher, you will produce less bocks, and new asics will render your hardware obselete sooner than you want anyway.
David Ramirez
pics or it didn't happen btw. i hope everybody realizes that OP is just having a bit of fun with us.
Lucas Jenkins
If you need stable income at the start of your operation then consider selling your hash power for approx. 7.62/day/unit. Once you have more experience and want to gamble you can start mining on your own.
Or you could join one of the mining pools for shared income like almost every other miners on this planet.
Unless you have warehouses of mining equipment, no one is mining on his own.
Isaiah Allen
*terrible spelling because phoneposting
Grayson Lopez
minerstat.com
forgot to add link
Jose Bailey
Profit is 700 dollars a year per miner at 12 cents/kwh
asicminervalue.com
It will take you 4 years to pay off the miners. You fucked up because mining tech gets better each year so you will be losing against people with better miners after 1 year.
Why didn't you just buy like 35 bitcoin instead of doing this retard?
Lucas James
this sounds wise. how long do you think thise ASICS will be good for before they're obseleted by newer ASICS?
Chase Fisher
kek saved
Samuel Hill
that's bad. OP, try and sell that hardware asap and go all in Cardano and stake for a passive comfy future - not financial advice. or just buy and hold BTC, and sell it later for comfy living
Hudson Rodriguez
you fucked up bro return them
4 year ROI but the problem is your tech will be outdated in 6 months
Tyler Reed
OP can pull this off if he gets cheaper electricity. That's why chinks mine btc, they have tons of free hydro power. If OP can get free electricity it would take him under a year to pay off the miners.
Daniel Collins
How profitable would this be if power was free? Its common for illegal Marijuana grows to steal power, if someone did the same with bitcoin miners how much would they make?
Charles Williams
No mining equipment is obsolete as long as you can profit or think you can profit on the next bull run. People still using AMD gpus from 2017 to mine ETH today even though newer more efficient cards have came out. I don't see why your ASICs will be "obsolete" anytime soon
Jeremiah Roberts
>He fell for the mining meme
user ya dun goofed
Evan Watson
it's a little bit more detectable if you take half a power plant
Carter Diaz
I just started minning rig too - 4 antminer s9s (54 TH/s) and 6 Amd 5700 gpus (300 MH/s) and some older gpus from ebay. Im just using nicehash pool, not mining solo.
Owen Smith
$0.05 CAD/kwh where I live. One of the biggest hydro cities in the country.
Connor Powell
What do you mean? People steal power on extreme scales. Even so, if the concern is doing too much gets u caught, just do less.