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Title: BitCoin Mining Set Up Post by: pajaroloco on July 17, 2014, 09:10:54 PM I'd like to set up a BitCoin Mining operation.
How favorable is it to mine bitcoin in a country with extremely cheap electricity and no regulation? (1/8 price of US avg) if so What startup hardware do would be recommended? What are big bandwith requirments? What's the level of technical expertise required? What are more or less the level of costs required for a small scale operation? We have $20,000 to set this up. Would be interested in hearing the best equipment and solutions out there. Thanks. PajaroLoco Title: Re: BitCoin Mining Set Up Post by: DrG on July 18, 2014, 08:59:15 AM Electricity is not really a major issue even to this day although it is becoming more important.
The number one cost in mining is still the hardware. 20K would only buy you 20TH/s currently assuming you already has the space, power, and cooling. You would most likely lose money. Unless you can compete with the manufacturer's farms, you probably can't make a profit. That means you would need to be spending in the 7 digit range, like 1,000,000+ USD to compete for profit reliably. |