Bitcoin Forum

hey guys i am thinking about buying some antminer s7 lıke 17x of them but i am concerned about bitfury and about the new asıc they are building.

so lets say ı got my antminer s7 and started mınıg and after 2 months a new mıner comes out lets say 10T/h 1600w then my mıner wıl be out of business right can ı stıll sell them if yes how easy and wıtch price.

My power cost ıs around 0.012.

There are no gaurantees, its all a risk. You might make money, you might make nothing, or you might lose money.

Nobody knows.

i think i got a large + from my power cost but would you ınvest in antminer s7 ?

and bıtfury your opinion a rısk?

Regarding on investing on S7 now, I would say that it would be better IMO if you wait a little bit longer before doing so since after the halving it's price will most likely to go even further down and also new miners would pop out(like the one bitfury is about to introduce soon).  If you buy and now and try to sell when the new asic from bitfury come out, I think you have to sell it at 20-30% less than you bought now so there will be some damages but again you get to mine some BTCitcoins until then and get some back so If I were you, I'll wait (regardless of how great S7 is) and perhaps go with the latest one from bitfury since it's very promising.

Power cost at a bit over ONE CENT per KWH?

 Sure you didn't drop an extra zero in there?

 If not, where are you at?

I thought the same thing almost no one get's this priced electricity.  If you do I would ask where?  And is it a stable grid? 

But check your electricity costs as it will make or break ROI.   Also on sale it's hard to say if there is gear that comes out and is 1/4 the power needed... it could also kill your investment.   Your entering at a unusual time with difficulty.

An example of where things can go wrong with planning to resell.

Antminer S7 Batch 1 in September sold for $1,823.  People assumed they would be able to resell for a reasonable amount.

But the latest Antminer S7 batch is selling for just $790.  So BitmainTech has more than halved the selling price of an S7 in just 5 months.  Those who brought the early S7s have seen the value of their S7 plummet together with any hope for a ROI from a resale.

Finally, as others have said, check your power cost.   1.2 cents per kWh seems unlikely for that much power. 

Purchasing new miners is like purchasing a new car.  The moment you drive it off the lot it depreciates instantly.

Even worse is the time delay on receiving the S7, you now have a car (miner) that's depreciated before you even drove it off the lot.

after all i heard from you guys and thıs dif. i think ill just keep minig with the ones ı already got and invest the 30 k in a server farm since my power cost are so low
THX for you help guys.

They are right. I think you are too late to invest in S7's. Either you have to find their 2nd hands very cheap or wait for big discounts. If I were you I wouldn't invest old machines. Especially after new equipment announced.

If you are 100 percent sure on electricity price you can go used.  I actually am selling some now.   

S5
2x SP20's
3x Avalon 4.1's
And soon a S5 plus model (7.5T).

I think you will find many like me slowly letting go of last gen gear and if you are correct on electricity I would look for deals.

i would definitely wait for the next tech for mining, this because there is the halving that will kill the s7 completely, if there was not the halving, your idea would have been okish i presume

The only way these machines are going to remain profitable is if the bitcoin price increases when the block reward halves.

You forget about dorm room miners, they don't care about difficulty or block reward halves.

But this ain't a farm where you will be making lots of BTC easily, you will rarely be making around BTC0.4 a day, and those farms make much more than that in order to cover all their expenses and it costs them less against what we are talking about here...

So your power is 1.2 cents a kwatt?

Where do you live?

If in the USA you could buy avalon6 and have them in a few days

My group buy is able to get them at 875 use.

Do you really have 1.2 cent power?

My Avalon 6's are priced to sell - SOLD .  With me condensing mining I put it up for around 700 each (selling as pair).  

Great miner's and never over volted.  So hopefully they find a new home :) .