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Title: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: Bitcoin-Corporation.com on January 13, 2014, 01:02:24 PM What is the most significant expense when running a mining operation?
Outside of hardware and space, would it be electricity? We have access to electricity at a very low cost (unable to disclose source at this point in the possible project) and are now considering starting a mine, and perhaps a pool and need to determine if this electricity discount would make it worthwhile. Thanks BC Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: cdog on January 13, 2014, 06:15:24 PM If you arent already mining and running a pool, it seems highly unlikely that entering at this stage in the game will result in success. If you have a $100k+, maybe try a giant GPU farm.
Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: cp1 on January 13, 2014, 06:17:14 PM The most expensive part is that you could have just bought bitcoins instead.
Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: Omikifuse on January 14, 2014, 12:35:42 AM If you arent already mining and running a pool, it seems highly unlikely that entering at this stage in the game will result in success. If you have a $100k+, maybe try a giant GPU farm. Asics for Scrypt is coming out. Not worth the risk.. Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: ymer on January 14, 2014, 05:25:13 AM If you arent already mining and running a pool, it seems highly unlikely that entering at this stage in the game will result in success. If you have a $100k+, maybe try a giant GPU farm. Asics for Scrypt is coming out. Not worth the risk.. Well we can't be sure until someone actually delivers Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: Bitcoin-Corporation.com on January 17, 2014, 02:06:14 AM Thanks for the insights so far.
So when you say "... you could have just bought bitcoins instead.", are you saying that even if electricity isn't much of a factor you believe the value of bitcoins bought will rise faster than the current technology's ability to generate value from mining? BC Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: railzand on January 17, 2014, 07:15:56 AM *Bitcoin-Corporation.in Corporate Agent. Bitcoin All In One Earning System:
eCurrency Exchange, Earnings Cycler & Matrix, Non-Ponzi Higher Yield Investments, Paid To Click/Paid To Read Ads, and Surf Exchange. http://bitcoincorporation.net/ all this crap will cost you dear Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: BTCIndia on January 17, 2014, 02:48:50 PM What is the most significant expense when running a mining operation? Outside of hardware and space, would it be electricity? We have access to electricity at a very low cost (unable to disclose source at this point in the possible project) and are now considering starting a mine, and perhaps a pool and need to determine if this electricity discount would make it worthwhile. Thanks BC Yeah! Electricty is going to be biggest determining factor for running mines in long run. And Electricity source? LOL! Business is invited to Chhattisgarh, India. Electricity is really-really cheap here. Plus, if you establish electronic mines in agricultural area. I'm sure you'd extra benefits. It's damn easy to establish power plant here. Want electricity tariff? Business query welcomed! Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: zsfx on January 17, 2014, 11:36:11 PM If you get electricity cheap (I do where I live as well - very near to nuclear power plant), then maintenance would probably be your biggest expense.
If you are intending to have shareholders on your mining operation, then you'll want to ensure as close to 24/7/365 uptime as possible. Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: e521 on January 17, 2014, 11:39:18 PM yes electricity will be the main cost and maintenance if you need to hire people to monitor and fix
I would exclude india tho, not very bitcoin friendly Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: vadoff on January 18, 2014, 10:46:58 PM The biggest cost is hardware, and whether that investment will ever return enough btc/ltc to pay for itself during it's lifetime.
Electricity/housing/etc cost is all negligible. Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: libitum on January 19, 2014, 12:52:30 AM "ASIC for Scrypt is coming"... I have hear that for long time already. Still nothing concrete. Maybe by end of 2014.
On the other hand. GPU for Scrypt might have a very short lifespan. Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: coins101 on January 19, 2014, 11:49:47 AM Salaries for people looking after everything.
Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: bit.alex on January 19, 2014, 12:05:04 PM Yeah, there's little possibility in my opinion that Scrypt ASIC's will arrive anytime soon.
Do your calculation. With a 500W miner, you consume 1 kWh in 2 hours. 12 kWh in 1 day. 360 kWh in one month - which at $0.16/kWh is under $60. Compare it to your planned mining revenue and decide if it's significant. Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: oberstkrieger on January 19, 2014, 03:46:51 PM If you arent already mining and running a pool, it seems highly unlikely that entering at this stage in the game will result in success. If you have a $100k+, maybe try a giant GPU farm. Asics for Scrypt is coming out. Not worth the risk.. trusted source? Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: frankenmint on January 19, 2014, 07:46:15 PM What is the most significant expense when running a mining operation? Outside of hardware and space, would it be electricity? We have access to electricity at a very low cost (unable to disclose source at this point in the possible project) and are now considering starting a mine, and perhaps a pool and need to determine if this electricity discount would make it worthwhile. Thanks BC I need cheap electricity for sure - do you have 800 Amp Service panel available for me exclusively? Do you have a good living space of...say....1000 sq feet with the privacy of an apartment to share? Are you in the US? If you answered yes to all the above then PM me asap(ish) Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: tom_o on January 19, 2014, 07:58:49 PM Yeah, there's little possibility in my opinion that Scrypt ASIC's will arrive anytime soon. Yeah no possibly at all... http://gridseed.com/main.php http://mall.diginforce.com/goods.php?id=39 Title: Re: Access to low cost electricity for Bitcoin/Altcoin Mining Post by: frankenmint on January 19, 2014, 09:29:24 PM Yeah, there's little possibility in my opinion that Scrypt ASIC's will arrive anytime soon. Yeah no possibly at all... http://gridseed.com/main.php http://mall.diginforce.com/goods.php?id=39 Forgot these guys: http://alpha-t.net/ |