Bitcoin Forum

I reached out to the company selling the mining rig, and they have agreed to provide you with step-by-step guidance on how to set it up. I also watched some YouTube videos on the same topic. Although it seems like a straightforward process, I'm curious why more people aren't doing it.

https://www.asicminervalue.com/miners/bitmain/antminer-ks3-9-4th
https://imgur.com/a/YVuNIhK

https://imgur.com/Ky8HakT

Yeah, mining can pan out if power's real cheap where you live. Although $17k is still too high a price to invest in mining equipment for some. And on top of that, you gotta think about how the price of whatever coin you are mining could totally tank at some point.  Heck it might skyrocket too, but no one really knows what will happen, even just looking ahead a few weeks or months let alone a year.

@OP
Um the ks3 is NOT a Bitcoin miner - it mines an altcoin, specifically the KHeavyHash algorithm... You *do* know that not all crypto are 'Bitcoin' right? If not - now you do.  ;)
This area where you posted is for topics regarding Bitcoin - not alts aka crapcoins. Requested the mods move this to the right area.
edit: I see da mods did  ;D

Please know that the $33,000 is just estimated revenue, and it can vary from time to time depending on the total hash rate as more miners join in to mine the profitable looking coin. Also consider the power cost in your locality. The $33K value is calculated based on the default value of 0.12kw/h

I will first start from the topic. Yes it is possible for one to make such amount of money in the year if the person is good miner. There is money in mining but what people are not doing it because of the criteria that involve. The basic things one need to mine is constant light, the location and finally the mining machine. And for you to have to equipment before mining you need enough money. And not that people don't want to invest in mining but the expenses is one the things that making people not to invest in it.

I don’t agree with you. I don’t think a person’s mining skills have much to do with making $33,000/year mining Bitcoin. It would have more to do with their investment size and power costs. I think it’s far more likely for an individual to make $33,000 a year holding Bitcoin than mining it, which is something I’ve seen far more frequently.

To start mining, you need to have a good price for electricity and a place to install a noisy ASIC.
ASICs also break, and you lose profit, and the more miners buy ASICs, the less profit for each participant. And more powerful ASICs are constantly appearing.

The only people who got rich during the California gold rush were the ones selling the picks.  Miners all ended up far worse than they were before they arrived.