Bitcoin Forum

Hi everyone,

I just bought WhatsMiner M31S+ 80T, and waiting for shipment. I am new to mining and this is my first ASIC miner. please help and give me any suggestion to run it for it's maximum profitability.
for example pools and setups.any information or links would be helpful as i said before I am new to mining.
this ASIC is SHA-256 so what is the best cryptocoin for mining (does bitcoin still profitable?)

You bought this without checking if it's profitable? These miners cost around $8000 USD at the moment, that's a lot of money to spend without checking if it will make profit...

Profitability will depend on your electric rate, and also the efficiency rating of the miner. What is your electric rate and what is the efficiency of your miner?

The M31S+ are often around 46 Watts per Terrahash, but it could be lower, I have some that are 42w.

Lets assume it's 46W per T, 46w x 80T = 3680W power consumption.

3680w x 24h = 88.32Kwh per day.

Let's assume your electric rate is $0.10c per Kwh = $8.83 per day running cost.

Current earnings for 80T on Poolin (which is my recommended pool) = $27.81 per day.

$27.81 - $8.83 = $18.98 daily profit. Bear in mind the amount of BTC mined per day will change as difficulty changes, which will typically mean a reduction in earnings every 2 weeks or so by a few percent.

Obviously you need to adjust the above figures depending on your electric rate and efficiency of the miner. I'm hoping you have a much lower power rate, because assuming you paid $8000 for the miner, you could be looking at 2 years for ROI unless BTC price rises dramatically.

hi
thank you for your comment. if i could hold my order what do you recommend ASIC for better ROI for same budget and with electricity rate is 0.08c per Kwh.

I doubt in this market you will find anything much better if you don't want to spend any more money. The manufacturers usually price the gear to make breakeven at or just over a year depending on your electric costs.

If you want to buy cheaper they tend to be on a long lead time (see Bitmain gear) so you pay £5K but you have to wait 6 months before you get your gear.

All you can do is buy what you can and hope price goes up, or, if prices stay stable or drop a little, resign yourself to be in it for the long run. All of its a gamble against the price dropping through the floor.

But then that's how its always been in mining.

This shows you do not know much about mining which is okay everyone needs to learn.

I simply ask is it coming to you in under 10-20 days or is it a long wait?

If you get it in under 10-20 days you may as well go for it.



you could buy 6x s9 used units.  at 600 each with a psu they are 3600 usd

 they will do 78th and burn 7200 watts

78 x .35 = 27.30 see viabtc.com = https://www.viabtc.com/

7.2 x 24 = 173-175 kwatts a day x .08 = 14 usd

27.30 - 14 = 13.30 profit.

6 x 600 = 3600 for 6 s9's

3600/13.30 = 270 days to break even

they take up more room but are a tiny bit quieter .

would I buy the s9's for 3600 or the m31s for 8000.

I would more likely buy the s9's. but my power is 1/2 the coins.  not 8 cents.

I rather lose 3600 worst case than lose 8000 worst case.

remember if your 8000 unit fails your hash rate = 0
if my units fail I drop from

 78 to 65  1 unit   dead.
 78 to 52  2 units dead.

so on and so forth.

It is not an easy call what to do in your case.

I would sell it.

The M31s+ makes $23 a day based on your 8 cents per Kwh rate, you have probably paid $8500-9000 to get it, that is a 12 months ROI at best, and then

1- You don't have enough knowledge about mining.
2- We are far into the bull market.
3- Today's profit is far from sustainable.
4- Chips shortage is going to ease.
5- Difficulty will only go up.

You will need a series of fortunate events to actually ROI within 12 months or less, but hey, people say I am pessimistic, some people think bitcoin price will go to infinity and these expensive gears will ROI in no time, they could be right, we can only wait and see, I would love to visit this thread back 12 months from now.

Why not check for yourself which ASIC is profitable nowadays to easily calculate which miners are profitable I suggest you check these links below.

- https://whattomine.com/miners?cost=0.08&button=
- https://www.asicminervalue.com/

Take note only buy on a direct manufacturer or verified distributor for safety.

Here's the list of manufacturer's and use the links above for mining calculation.

- https://bitcointalk.org/index.php?topic=5045732.0