Bitcoin Forum

hi,
i have access to cheap electricity around 1 cent/kWh.
if i buy 5  s9 antminer do you think its a good investment ? What would you say ?

Well i think its a good investment because the price of bitcoin right now is high and more price increase will come so i you have 29 5 pieces i think you can earn high amount of bitcoin  you can pay for your monthly bill for power and hold your bitcoin for few months and sell it when the price of bitcoin is high so i think it will still profitable..

thanks for your response. İ still dont know if i should wait to buy the miners because of the halving. Maybe they will be cheaper after that...

Im hoping the S9 cost comes down.
I'm running S7's with cheap ish electricity.
The cost of the S9 is IMHO way to high at the moment.

After the halving the price will either come down, or knowing they have the fastest commercially available miner wil just hold the price and cash in.

The B2 / B3 was a typical money maker, sell B2 with a delivery date a week ahead then release B3 available today for $100 more money.

Just sit and hope the price does come down.
Also hoping the S7 price stays high so I can eBay the S7's.
Not sure the S9 is quite stable just yet reading the thread on here.

I would check math and make sure it's 1 cent/KWH as that is very very cheap.  Make sure all taxes/fees are included in it.  But if you have 1 cent/KWH you should be able to mine with even a S7 for quite a long time.    You would not need the newest efficiency miner at that price.

But again make sure your math is correct.  Also check how much electricity you have as not sure if very limited amount.  But if you have a decent amount of electricity at that price, and can handle heat/sound you have a very good investment opportunity obviously.

It's pretty easy to figure this out yourself
1) look at this forum/aliexpress/ebay/reputed online sellers for new and used ASIC's... Look at the total price (including shipping and custom fees, don't forget PSU, cooling, shelving, cables, controllers,...)
2) look up the ASIC specs here https://en.bitcoin.it/wiki/Mining_hardware_comparison
3) enter your price, electricity rate, 1% pool fee, power draw, hashrate and a block reward of 12.5 here: http://www.coinwarz.com/calculators/bitcoin-mining-calculator
4) see if you can ROI in a reasonable timeframe

Your electricity is very cheap so you can easily make profit with a S9 and you could even do it with older gear.

You electricity price will make it profitable to mine even after the halving in 2020. But just wait for the S9 price to drop before buying.

you will eventually roi with an almost free electricity, but it may still take a long time, i suggest to mine for 3 months and sell them after that

those antminer depreciate very quickly...

yes, it's very good investment. Antminer is using electricity for bitcoin mining and this task is similar of earning 300$ regularly with only 30$ loss. Also antminer 9 is the latest version and halving won't affect minig so much that antminer 9 will be usable.

If i had electricity as cheap as that then i would jump at the chance to mine, you might still be better mining alts though if you dont have the hardware yet. If you can afford to get a few s9s then you will be in for a decent profit even if we dont get much of a price increase . Id double check as well to make sure that is the actual price your pying per kw because as a few have said it seems very very cheap. Where do you live out of curiosity? is this a commercial setup or a domestic setting?

I would reiterate this again, Check your math!! Check your Math!! Check Your Math!!
If you really have .01 electricity you could mine with anything 1 generation old, IE S7, and make a profit.
The single largest cost for mining is electricity, after all mining is turning electricity into hashes, and you have close to the best cost possible.

But beware there is a lot to learn (Wallet, miner hardware, mining software, settings, pools, etc)
Start slow and make sure you have the basics down to you can make the most coin possible before you go all in.

I also agree the S9's are still a little expensive, an S7 will cost a lot less and give you something to work with.

As another thought, you may also want to look at alt coin mining.  With .01 electricity and a good GPU rig there is also profit to be had.

There is no cheap electricity available and if yes why are you getting cheap let us know? If somebody say for cheap chances are that its a scam.

I think its still not profitable because miners are increasing to so difficulty is increasing too
If you notice on the block chain here https://blockchain.info/charts/hash-rate
The hash rate are increased now and i think more and more miners are investing again to buy s9
The more the miners will come the more decrease of the revenue you will get if you are a starter..
But you can still mining if you can afford for your electricity or even a free dont spend your bitcoin and wait for price increase this year.. before you sell to make more profit..  for the present price you will only get few profit..

Or convert to altcoin mining to make profitable..

Hi, I also have access to cheap electricity (right now it's 2$ per month) I'm in a low budget maybe buying a new s7, I'm new into this and would like you to give me some advice, how much money can I make per month with that s7? I'm a bit worried about the noise, so, putting it in a closed room would be enough? I have a/c in that room BTW. Ty in advance.

Where abouts do you people live that are getting such cheap electricity? Do you live next to a hydro generating station? In my country no one has prices as low as a cent a kw or $2 a month.  The potential to earn profit with this cheap electricity is endless. You could literally outlay as much as you wanted on hardware and still be making profit for years.

I live in Venezuela, I want to invest in this mining thing because of the cheap electricity and I see some people make good money out of this, I just would like some advice on getting started and maybe I can lend a hand to a bro in need, who knows.

That's quite a good investment!
I'd suggesst that, provided your energy rates are not likely to change, then you should do it!

I'd even recommend trying asolo mining but with all ive miners which could be useful togenerate large profits, though connecting them to a pool and getting a constant payment may be better!

But I heard in your country the power supply is not very reliable to due to dryness of the reservoir, there is not enough electricity.

Yes that's right, but I'm thinking to set miners up in a place they never cut electric service off, that's near a hospital and I have full access to that place. What is really worrying me is the noise, I've heard they are loud and even placing them in a cooled room with the door shut can bother the people living in that house, what can you tell me about that?

If you can get a well cooled room, you could always put them in thee and remove the ans. The fns are the main part that makes the noise!
It's [robably hard to get a room like that though (unless you consider putting your miners ina a climate controlled cabinet which would use lots of electricity though may be good if you have several miners running!

I assume something like this may work: https://www.teslatest.co.uk/products/binder-mkt-series/ - But am not sure!

The other solutions would be to 1) downclock your miners and use a big passive system or 2) use a very large fan instead of many small ones. Large fans don't do much noise.

I'm thinking about putting them in a 9x9ft room with maybe a 18000btu a/c and leave the fans at auto.
Thank you very much for your answers.

I've read somewhere on this forum that in Venezuela, although the price of electricity is very low, the situation for mining Bitcoins is bad, mostly because it is almost forbidden to mine Bitcoins or something like this. Maybe the situation is different in different parts of the country and you'll be okay, but you should check it by yourself before starting the mining process.

You can find that in the forums but you do need to look and you have to be very cautious because most of us cannot be trusted.   :'(
I would say to get a 1PH mining operation running you are look at a decent amount of cash $100,000-$300,000.
Even with the latest ASICS you are looking at around 1,000 pieces of equipment.
That's alot of maintenance, cooling, hand holding, development and time.

As far as people are concerned you really need one experienced person, that doesn't have to be local, and a few minions.

I saw this interesting thread a while back https://bitcointalk.org/index.php?topic=1072474.0 (https://bitcointalk.org/index.php?topic=1072474.0)

If you ready to pay some money for the answers to your questions then I suggest you to post in the Services section on this forum:

https://bitcointalk.org/index.php?board=52.0

There are many qualified people on this forum and you can employ one of them to get a qualified help.

A new initiative, Scaling Off-Grid Energy: A Grand Challenge for Development, will invest US$36 million to empower entrepreneurs and investors to connect 20 million households in Sub-Saharan Africa with off-grid energy by 2030.
 
The initiative was announced at the US Global Entrepreneurship Summit last month (23 June) by USAID administrator Gayle Smith.

[NAIROBI] A new initiative, Scaling Off-Grid Energy: A Grand Challenge for Development, will invest US$36 million to empower entrepreneurs and investors to connect 20 million households in Sub-Saharan Africa with off-grid energy by 2030.
 
The initiative was announced at the US Global Entrepreneurship Summit last month (23 June) by USAID administrator Gayle Smith.
“Most countries are unlikely to connect their entire populations to grid electricity for years, if not decades”

Chris Jurgens, Center for Transformational Partnerships at USAID and Scaling Off Grid Energy: A Grand Challenge for Development
Power Africa, initiated in 2013 by US President Barack Obama to increasing access to electricity across Africa, and USAID's U.S. Global Development Lab have launched the initiative to empower entrepreneurs and investors to grow a market and connect households living outside the electricity grid with modern, clean and affordable electricity.
 
Partnering with the U.K’s Department for International Development and the Shell Foundation, the initiative aims to build a vibrant market across Sub-Saharan Africa by supporting growth of innovative entrepreneurs to make off-grid solutions affordable for rural families with profitable business ventures as well as catalyse private investments for them to spread to new markets.
 
The Grand Challenge is also set to drive new technological innovation to address market growth constraints in specific countries.
 
Chris Jurgens, director of the Center for Transformational Partnerships at USAID and Scaling Off Grid Energy: A Grand Challenge for Development leader tells SciDev.Net that over 600 million people in Sub-Saharan Africa do not access electricity.
 
“Most countries are unlikely to connect their entire populations to grid electricity for years, if not decades. As a result, many households rely on expensive, polluting, and unsafe kerosene and diesel for their energy needs,” he says.
 
Off-grid clean energy solutions, he explains, provide a market-based, cost-effective way to access electricity for communities off connections. “Off-grid solutions help improve quality of life for households by providing clean, reliable energy that can do everything from lighting up the night for children to do their school work to charging cell phones and running household appliances.”
 
He says off-grid renewable energy solutions, especially household solar sector, is critical to reaching that goal “as the cost of solar technologies is rapidly falling, while the cost of alternatives such as kerosene is rising, making the economics more attractive.” But they are open to supporting other low-cost, renewable energy solutions.
 
They will provide early-stage entrepreneurs with technical support, financial access, drive customer demand, strengthen the marketplace for off-grid solutions and address market barriers.
 
Jurgens says, “Energy access affects us all, but women disproportionately face the greatest energy challenges, and it affects education and economic opportunities.”
 
He adds:  “When women and girls spend their daylight hours gathering firewood and other household chores, they miss out on participating in other activities like education and economic ventures.”
 
Shashank Verma, Head of Advisory Services at the UK-based Global Village Energy Partnership, says Off-Grid Energy Challenge is a welcome initiative. “It is incentivising productive power applications like solar refrigeration, which has huge potential to add value to agri-value chains and create additional income for low-income communities”.

i have this this. in India some states provide free electricity and people tried to run bitcoin mining machines but some of them left it because of the noise and heat releasing from the miner they found it little bit disturbing to their society, and in the end they just got the roi and sold it to other

I would say its a big scam coming in line. Because there is no scope of anybody getting so cheap electricity unless your a theft and taking it for free and if that is the case it wont last longer. And if you say you are getting  it legally then does your own village/town getting it at same rate?

is legal.. is you live in Venezuela, maybe you need to read more about this country and the cost of services but if you want to have a idea on  how is Venezuela this post maybe help you

https://steemit.com/spanish/@maykor15/soy-venezolano-e-hice-14-horas-de-cola-para-comprar-comida-y-te-lo-muestro

This is why more people want to mining and get better life style.

With the level of political and society instability in Venezuela, the concept of "better life style" doesn't even come CLOSE to fitting.

 Definitely NOT worth the cheap electric cost, especially when you factor in at least a few reports of the government there arbitrarily confiscating Bitcoin mining gear....

With any investment comes risk.
If someone is willing to take a risk to make a better life for themselves, then I say "GO FOR IT!"

The only way we learn is to try and fail, if you are not willing to risk then you are not willing to learn.
Only the person taking the risk can make the decision for themselves.
Will the decision be good or bad, who cares, as long as you are willing to decide!!

Venezuela has cheap electricity, but the economy crashed. Maybe your miners are stolen if you mine there..

In one of the s9 threads, members were estimating that you could be profitable as long as electricity was 0.06//kWh or less.
If you are getting electricity for such a low price, even an older miner like an s7 would probably make you money.
(It might take some time but you are getting electricity for basically next to nothing.)

Since the conditions in Venezuela is not normal no body will invest in that country even if you give them free electricity and land. When people find hard to get their normal lifestyle this itself means that people there will take anything whatever they get it.

Having a cheap electricity doesn't mean it's beng stolen. It's simply means that compare to other countries the power consumption rates in Venezuela is much lesser compared to other countries. Well put this aside and in relation to bitcoin it is not wise to put up a mining farm in Venezuela since the country is in chaos
 You will lose big more than a big power bill. It's better to pay high power bill than to go bankrupt and endanger your life in a violent society.

You want cheap electricity come here in philippines in ilocos norte part of marcos windmill electricity there are very cheap. In that place you mine to get a big profits but its only for near there but if in other country you must search where in your places see the cheap electricity.

I want to know, where do you contry live? I have 5 units S5 antminer from bitmain and not use about 7 months ago, if I send to you, maybe we can sharing the bitcoin result.

Yes I'm very interested to see where OP lives.
Even in most countries you can't get electricity this cheap unless you live close to some power plant.

If you are really getting power 0.01/kwh you can definitely make money even with older miners.

Sorry guys i never looked at this thread :D

İ would like to start this project in Turkmenistan. Actually it is even cheaper then 0.01/kwh. İ have many connections there and i try to solve the goverment sided things right now. My friends are looking for a solution.
The thing is if i do it there i need to place many miners otherwise it would not be enough profitable for all that effort.

Edit:  GPU rigs or ASİC miners what would you say ?

With that cheap electricity it depends only on what you want to mine. If you go for GPU it means you will mine Ethereum as that is one of the most profitable coin to mine with GPU nowadays and with the new GPU R9 480X and make some good profit. I personally would mine with ASIC and the bitcoin because in the long run it can make you huge profit with that kind of price which is almost free electricity.

Hi friends,

After halving day my earning is drop and I shut off my S7. Now I have 5 units S7, can you send the PM about your detail address?

Best regards,

If you live where you have access to low electicity cost then ypou can even mine with older generation gear but it takes longer time to profit than newer hardware like S9 antminer.

With that low cost electricity just try and purchase older miners for cheap on sites like ebay or this forum.

If i had money for buying,shipping ... i would never hesitate that. I have access to 2 cent /kwh

dont go in the philippines i warned you for
some reasons i wont tell

I think that starting a mine with solar panels is a great idea.
im sure that is not an easy task, but the returns may be really great with big investment size.

Yes, I think it is worth a good research.

I'll take them ;D
Tell me where you live and I will pay for the shipping. Sound good to you? :)

Where do you live?

Mining with almost zero costs, sounds like a blessing to me. Sure it'll take you some months to ROI but it's solid investment & once you roll down you'll also be able to catch up with new miners (eg a new antminer) using only parts of your profit!

Maybe you no need to think about the electricity after using a solars panels but ever you think about the capital for holding solar panels and upkeep of the solar panels. it's will take a lot of capital for using that more than using an electricity.

usually those tht mine with very cheap way, are near some hydro plant, they have special contract, they live there like they showed with those chinese farm

it's unfeasible for other only because those place are already occupied

Actually I think not all those places are occupied. Take a look at the list here:

https://en.wikipedia.org/wiki/List_of_largest_hydroelectric_power_stations

and keep in mind that this is the list of largest hydroelectric power stations where only plants with capacity larger than 2,000 MW are listed. I think there are still a lot of opportunities to locate your mining farm near a hydroelectric power station.

Electricity is still pretty cheap here in the Midwest. I don't think we would be able to do anything roi+ especially with the halving and price drop in bitcoin. There is some potential if I could buy hardware bulk and setup close to the city. I haven't put much though into solar power but it might be an option down the road. 

yeah you can mine but you have to stack and wait the price to double

Yeah your right but even the price is down and we are at level 500 the miner who using antminer s9 are still profitable..
IF you are using old asic miner like s7 below they are no longer profitable now a days.

Is there any sensitivity table or sensitivity chart that shows in what level of electricity price and with antminer s9 or other miners,mining is profitable or how much we can make?

 No, and such a chart would become outdated VERY quickly at best, and to be of any use AT ALL it would have to make ASSUMPTIONS about difficulty increase and future Bitcoin price that would certainly turn out to be incorrect in the long run.



 BTW - if your electric is cheap enough, an S7 IS in fact still profitable - but for how LONG is a very good question.

 If your electric is free, ANY miner is still profitable (though GPU or CPU based mining is not going to achieve any noticeable amount of income and will never ROI on any SHA256 based coin even with free electric).

The guy has electricity with price 1cent\kwh, can you or anyone explains who much electricity is it? For example a laptop which is one hour working and the only task we do is browsing net, how much is its electricity consumption?

 Every miner I've ever seen advertised on it's original web site included some sort of "power consumption" spec.
 THAT is where to look for that information.

Most laptop computers use below 100w even in peak times.

To calculate your costs use this formula:

(Watts  x  Hours Used x  Cost per kilowatt-hour) / 1000 = Total Cost

Depending on the electricity price in your country it will be from $0.002 to $0.04

Well that is nice response, so 1kw\h for one cent is a very cheap price. For example for ANTMINER S9, I found this:
https://www.bitmaintech.com/productDetail.htm?pid=0002016052907243375530DcJIoK0654
Which shows a 1375 watt consumption. It has low price consumption although it is expensive with 2400$ price.

what price for s9 now bro ?

As you can see simply in my previous post, it is 2400$ for antminer S9. You can see specifications here:
https://www.bitmaintech.com/productDetail.htm?pid=0002016052907243375530DcJIoK0654
But you can search for other versions. For example I found another one 2100$ here:
https://www.cryptocompare.com/mining/bitmain/antminer-s9-miner/

These can provide a range about the price.

It's pretty expensive for me too so I'm not going to buy it any time soon, but I wish I have the opportunity buy one because it looks like with the price of Bitcoin going up it will be profitable to mine.

Yes it will go up, it strongly depends on the electricity price on your country that shows how profitable it is.

Electricity in NYC is so expensive when I calculate how much something uses up, I just round it to .33 per Kwh.

Now the difficulty is too high, only cheap power have profit!

In some countries there is free or nearly free electricity. So mining and using electricity in those countries is fine.

Try to include in your calculations the possible increase of the difficulty of mining.
It is important to do this now to avoid disappointment in the future.

yes tell us where you get cheap electricity please

There might be a few places with cheap energy as some parts of USA as texas, china and russia on places where there is no big towns and you are near power plant so can get a good deal, or use a private water generators

But what ppl can not talk in public is that many big miners steal electric power, that is how they can ROI with asic and GPU, they just don`t care at all about power usage

Hey, you are in a unique place, I mean, I'm working with lots of mining projects and the hardest part you already have...

first of all... set up everything somewhere you got good ventilation... with this kind of cost, you might forget about cooling junk stuff (like air conditioner)...

run a month and you will see good results... just let me ask you.. where do you live? I mean, how do you got this 1kw/h ?

Hey he have everything in op itself and as he mentioned The electricity which is getting very very cheap and s9 antminer which is old miner but however he can some decent profit from this one.

Hello everyone

I read this topic with huge interest

I could find access to a sizeable amout of power (from kW to MW) at 0,04EUR/kWh or less
Safe country (Belgium) safe law and contract etc

As i don t have real experience with mining I would like to partner with someone
We could share invest and profit . An experiencef miner is wrlcome i would bring legit long term access to power

Do you see a potential interest ? I m ok to start small and get bigger

Yes, It is profitable. The math: If you bought one Antminer S9 that consumes 1172 watts of power and has 11.85 TH/s, you would get around $2,766.51 per year with current price of Bitcoin 582.36$, eletricity cost is $102.67. If you bought 5 Antminer S9, you would get around  $13,832.55 per year, electricity cost is $513.35. The hardware cost is around $2000 for 1 miner, for 5 miners it costs about $10000. If you bought the 5 miners you would get about $3832 the first year (first year earning - hardware cost - eletricity = profit).

The price of the s9 is going down, i was able to buy one a few days ago for 1200 euro, which is a lot better then the 2450 euro a month ago lol
And with cheap electricity its a good investment.
Im curious to see what the new R4 will do, it costs 1395 USD at the moment but i expect it will go down pretty fast as well...i hope so.......8.6TH at 845W and being silent sounds like music to my ears  ;D

will be around 1k$ soon

I think that even if a person has cheap electricity it is still not really a good investment. Miners cost quite a lot. And they need some details fixed from time to time. Yet they are likely to break completely after half a year.
So I guess only mining farms are beneficial, not someone's few miners.
Of course, it also depends on a bitcoin price. If it rises than even buying one miner might be a good investment.

Well as you are saying that you have cheap electricity only around 1 cent/kWh so i would say it will be a pretty good investement.
If i have access to that cheper electricity i would surely buy antminer and invest some money in mining and could generate some good amount of bitcoins.

If you have a very home then you could generate electricity with your jokes waste water. If you are from middle class family you could buyv a solar panel. But if you can't afford to buy solar panel then better you have to do illegal that is to steal electricity. Sorry for Mr unfavorable option. If you want to generate electricity from waste water message me.

1 cent/kwh is amazing. You would be more profitable than almost any miner.

How much does 1 KW cost there?