mineshop, this is a great guide, but I still won't buy this ASIC  If you want to sleep in nights better dont  I will feel bad even during the day, because the profit falls every day. What do you think about buying such an ASIC and starting mining yourself? You open the payment statistics, and the ASIC price will fall every day by 70-90% of the profit. With this condition, you will sell ASICs at a higher price, and the buyer will be convinced that the ASIC works without failures. You will publish reports on your website and other resources and attract more traffic from other miners. |
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first 3nm technology will release on 12 september wonderlust apple bionic a17 which is bumped 30% single core gain, nice,
rtx 5000 / rx 8000 should use 3nm with gddr7 with absolute crazy massive leap in performance, it might latest gpu became obsolute because this jump
release at some point end of 2024. its gonna sell like hotcake for miner when on peak bullrun lol.
There has already been a lot of such news, but it all depends on the mining algorithm. You can find coins where the hashrate of the 4090 video card is almost 100% ahead of the hashrate of the 3090 video card, although on other coins the difference is 10-30%. Therefore, if they make a coin using a new algorithm, which will be perfectly optimized for the 5090 video card, then you can see a hashrate of more than 100% compared to the 4090 video card. example https://bitcointalk.org/index.php?topic=5447543.msg62038432#msg62038432 |
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I want to start mining in profitable coin, how i start and which hardware i need for mining, please guide me.
first how much electric cost in your place, skip if 0.1$+, from 0.05$ then starting to makes profit, remember minimum profit is 100% from electric price at this point and for safe long term future get asic sha256 at best price/performance and check stock whic asic ready in your area living/country, i wouldnt recomend buy asic oversea without warranty. buying gpu is safer bet if your plan fail in the future you can sell it to gamer. asic = no resale value but at this very moment is most profitable for long term use and easy to manage, gpu = has resale value if you bought second hand, and wait till bullrun to activate the miner, at this point you can gain knowledge and prepare for next bullrun. just try buy 2 gpus instead for learning Why do you say that ASICs have no resale value? The era of video cards is coming to an end, and there are many markets for used asics too. If electricity is expensive in your country, then selling a 2-3 year old ASIC is difficult, but this is not the case in all countries. Even old ASIC S9 are sold in my country for $30. |
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Micro $3 Bitcoin miners won’t make bank, but that’s not the point: Inventors Pocket-sized Bitcoin miners are a stand against the “secrecy and exclusivity” of the Bitcoin mining industry, according to their inventors.
While lacking in performance, micro Bitcoin mining devices should be seen as a stand against the Bitcoin ecosystem’s purportedly biggest flaw, its inventors argue.
Micro Bitcoin mining devices — often open-source and pocket-sized — have been serving a niche part of the market, offering buyers a fully assembled device or a do-it-yourself-kit to mine Bitcoin (BTC) solo.
Speaking to Cointelegraph, developers behind these kits admit that buyers won’t likely see much profit but argue that it’s important to fight the “secrecy and exclusivity” of the Bitcoin mining industry.
One company, BitMaker, recently claimed that one could be made for as little as $3, offering an output of 50 kilohashes per second.https://coinmarketcap.com/community/articles/64f69751ee3a4a5a9190e64a/ |
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If you're looking for cheap places to mine one BTC then Lebanon (266.02inUSD), Iran(532.04), and Syria ($1,330.10) might be your best bet but keep in mind that these countries lack reliability and consistency when it comes to power input which means setting up a mining farm there might not be very practical after all!
The latest news about Syria speaks of military operations in the territory of this country, and other countries do not look like a good place for mining due to bans and military conflicts. Iran also has a military conflict with Israel. Therefore, in practice, large mining companies will not build data centers there. |
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So I can now get my electricity for $0.05 per KWh. This is a new opportunity that has landed in front of me and I have the capital to invest a decent chunk into this. I was wondering if it is currently profitable to be doing it from scratch whilst paying the price listed above.
I've done a lot of research throughout reddit and toyed with some of the calculators but thought I'd post with my actual situation to see what other people thought.
Thanks for the time and hopefully I haven't broken any rules posting this!
First of all, $0.05/kwh is not cheap. There are many locations where electricity price is below $0.01. Imagine you'll have to compete with these guys, who are also running hundreds or even thousands of miners. Next, your miners will depreciate and wear out and the halving is approaching so you need to plan accordingly. Why don't you simply buy Bitcoin with all you have?  If you are talking about the production of electricity, then at hydroelectric power plants the cost of producing 1 kilowatt can be 4 times cheaper, but you do not count delivery tariffs, taxes. Very large companies have a price of 3-4 cents per kilowatt, and a nuclear power plant also provides cheap energy, but it cannot be built quickly. |
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Those are some good figures for a country that has just started, with the sanctions imposed on Russia I think that large mining corps are probably getting some sick power deals below average prices, Russia has a lot of oil and gas that they can't easily sell, so making use of that for mining is a win-win, the electricity infrastructure might not be ready for a huge expansion but what's good about mining is "you can place the container anywhere", so just build the power plant and place the container nearby. Usually, the most expensive and time-consuming aspect of electricity is power transmission, so for the average company or business that needs to operate within the city -- it could be a huge issue if the city doesn't have enough power infrastructure, for mining as long it's on and has internet connection the money keeps coming in. Mining farms are not factories that employ hundreds or thousands of people. Therefore, mining farms are built at old factories that have a direct connection from hydroelectric power plants or close areas to hydroelectric power stations, so as not to be connected to the city's power grid, and workers live and work on a rotational basis. Basically, the data centers of these companies are located in the Krasnoyarsk Territory and the Irkutsk Region, where the most powerful hydroelectric power plants are located. |
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Obviously, car tires are a hot topic these days, although some others use them in a completely different way  From the fragments that fall from above, such folk wisdom can save, but the price of such protection is free. But crumb rubber is used in construction and manufacturing, and I have seen machines that process car tires into raw materials. But I didn't see tire burning plants because it pollutes the air a lot. |
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Solar panels only generate electricity when the sun is shining. To mine continuously, you'll need a reliable energy storage solution, such as batteries, to store excess energy generated during the day for use at night or during cloudy days. Wouldn't it be too expensive?
Or combine with alternative energy sources. Or even in the old fashioned way, connect to the outlet at night, because there are nightly tariffs for electricity consumption, which can be cheaper in cost. Why not a solution, huh? Solar panels do not provide a stable flow of energy even during the day. At night, in the morning and in the evening, the miner will have to consume electricity at the prices of energy companies. These panels will save electricity consumption at a higher cost, but the miner will still need to calculate the economic benefits of installing solar panels. |
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Yes! I saw the news! Russia's ascent to the world's second-largest cryptocurrency mining country in 2023 is driven by its abundant, cheap electricity and a growing number of mining facilities. This expansion in crypto mining reflects Russia's increasing role in the global digital currency ecosystem.
The income of mining companies in the Russian Federation amounted to 11.5 billion, the leader is Bitriver
Among all listed companies, Bitriver is the leader in terms of revenue. She received 7.88 billion rubles. In 2022, the company's computing power exceeded 300 MW for the first time. Another 6 facilities with a capacity of 900 MW are still being developed.
Second place goes to Intelion Data Systems. Its profit amounted to 1.03 billion rubles for 2022. The company has become an industrial operator for the sale and maintenance of computing equipment since 2017.
The third place is occupied by BitCluster with revenue of ₽716 million for the last year. Now the company operates more than 15,000 devices for cryptocurrency mining in the Irkutsk and Ivanovo regions, as well as the Krasnoyarsk Territory. The total computing power of BitCluster is approximately 60 MW.https://freedmanclub.com/dohod-mayning-kompaniy-v-rf-sostavil-11-5-mlrd-rubley/The latest official data is impressive, but there is still a lot of unregistered mining in Russia |
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I do not see any profit on this ASIC. With its cost of $ 1,200, I have a daily profit of 78 cents at a price of 5 cents per kilowatt. And this is assuming that there is 5.8 GB of memory. Jasminer X16-P and Antminer E9 Pro have better energy efficiency.
Efficiency of this miner is one of the best and is geared toward home miners,I see a profit of over 1 dollar excluding electricity even more than 5 cents per kilowatt,at least that is what 2cryptocalc ETC calculator is showing to me,nevertheless even if it is not that profitable,I think even if there is 5.8 GB memory is enough to mine ETC easily.The power consumption is great for home users as I run a 100 Mhsh 2 GPU rig with 210 watt and this machine makes x8 hashrate with just x3 energy consumption,that is a great device but as I said for the home miner,for the enthusiast miner,mining farms can stick with their E9 from Bitmain. Where is the profit?  https://www.minerlist.com/coin/ethereum-classic/calculatorSuch an ASIC will never pay off, or do you want to use it in solo mining? I don’t understand why such ASICs should be released, if its profit for 3 years will be 300 dollars at the moment. But the hashrate will grow and the price of electricity will also grow, and the ASIC does not work without breakdowns. |
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"false: unsupported device or driver version"
such a message is written by the program at startup for 3 out of 7 cards. all AMD RX 470 cards, BEAM mining, other mining programs do not have this
If you use Windows, then check which driver versions the miner developer recommends using. BEAM is bad for AMD RX 470 mining because you can mine Dynex with big profit and 30-40 watts less power consumption on each video card. If you have free electricity, then there is no point in overheating video cards anyway. |
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mineshop, this is a great guide, but I still won't buy this ASIC |
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Future Ethereum Upgrades Could Allow Full Nodes to Run on Mobile Phones: Vitalik Buterin Planned Ethereum upgrades including stateless clients will help to decentralize the network, said its co-founder at Korea Blockchain Week.Ethereum co-founder Vitalk Buterin believes that future upgrades to the network could make it possible to run full nodes on mobile devices, helping to decentralize the network and improve its scalability.
Speaking during Korea Blockchain Week, Buterin addressed the decentralization and scalability challenges facing the Ethereum mainnet, as initially reported by CoinTelegraph.https://decrypt.co/154990/future-ethereum-upgrades-could-allow-full-nodes-to-run-on-mobile-phones-vitalik-buterin |
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Today I read news on decrypt that Ethereum founder Vitalik claim that they are working on the full nodes for smartphone users and in the future all full nodes will be available to run on smart phones. The reason from migrating from hardware to smartphone software is to Decentralize the Ethereum network because most of hardware nodes server are amazon and other online server providers Source: Read Full News https://decrypt.co/154990/future-ethereum-upgrades-could-allow-full-nodes-to-run-on-mobile-phones-vitalik-buterin1: Now my question is , Is this is good idea to run full nodes on smartphone? 2: Will this step put any affect on Ethereum network? 3: If It succeeded than what will be usecase of these nodes server? I have 4G Internet on the mining farms in the village, and so looking through the logs, I see that all the farms did not work for 2-4 hours at the same time per week. The Internet has fallen off, but for mining this is not a big problem, especially now. And for the Ethereum node, you need a reliable Internet in order not to receive fines, so only large hosting companies guarantee a good such Internet. |
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I do not see any profit on this ASIC. With its cost of $ 1,200, I have a daily profit of 78 cents at a price of 5 cents per kilowatt. And this is assuming that there is 5.8 GB of memory. Jasminer X16-P and Antminer E9 Pro have better energy efficiency.
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If a beginner confuses ASICs and algorithms, then there is a good website for him, where he only needs to set the cost of electricity. Unfortunately, the Nelyaz site uses a price value of 0.048 and only 0.04 or 0.05, but this is not a problem, although it is better for him to use a value of 0.05. https://www.asicminervalue.com/Antminer X5 is not in the top for some reason. |
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Experts say: 21-31 thousand dollars kano says: that the calculations are not reliable in the long run, even for several months Experts answer that kano is not an expert These experts have never been involved in mining, and do not understand the risks and possible additional costs. |
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Now is the time to stack in silence and wait. When mining isn’t profitable has historically been the best time to be mining. By the time it’s profitable that means the price has already risen and everybody is fighting to get as much hashrate as possible. By then it’s too late. If you are able, just mine coins and wait until the market comes back to sell.
I strongly agree with this statement.Usually the guys who make a lot of money out of mining are the ones who do so when they mine at a big loss as I have done it personally in 2018-2019 when everybody shut down their miners I kept mine on.The result were that in 2021 I was an extremely happy person,I got against all odds at that time and I was rewarded a couple of years later.For now there is still time meaning that based on if history will repeat itself,the next bull run should be in late 2025 so another couple of years for people to start their mining journey if they want. Why keep mining at a loss? If buying a coin is cheaper than mining, then it is more profitable to buy it. I also mined ethereum in 2018-2019, but I did not have any losses. But now the situation is different, on old video cards the profit is very small, and new video cards are expensive and their payback period discourages the desire to buy them. |
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Do you have an idea about the price of this ASIC? RandomX is a very complex algorithm and ASICs price should be more favorable for buyers so that they are willing to risk buying asics with the risk that developers can change the Monero algorithm after a while.
Miners on processors have a low profit, and then there's a new surprise from Bitman.
Bitmain is having a contest to guess the price. It's a big RISC (bad pun intended) to produce an ASIC mining chip for Monero considering how quickly they have been ready so tweak the algo at the first sniff of a possible ASIC. Even if it's flexible enough to allow mining other (similar) algos there's no other coin big enough to support ASIC mining. New algos would also require new SW at least. Then there's the compromise between performance and flexibility. Very interesting. The price will depend on how this ASIC is made. If this is a processor asic that can be configured for any algorithms, but this will be a new important step in altcoin mining. If this is a chip for certain similar algorithms, then the fate of the ASIC will largely depend on the developers of the Monero coin. If I were the developers, I would wait for the ASIC release and then make a decision. |
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