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if you are willing to use simplemining.net and pay 2 bucks a month per rig the gear is very stable and you can access it from any pc in the world. https://bitcointalk.org/index.php?topic=1541084.0i point 4 rigs to him and pay him 8 dollar a month. the rigs are in two locations one it 100 kilometers from my house one is 10 kilometers. In the last year I had to check on the units in person only 3 times. well worth the 96 USD I paid for the year. I don't think that's a good idea for me, given the fact I'm starting, I'll need all the profit I can get, having to pay $1.8 means between $18-20 per month, that's huge for a starter. I could be wrong tho. |
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So, I had some calculations, and it looks like I'd better go with one of these options: 1) get a bank loan and go big directly with either about 54+ 5700RX's with an average ROI of 11months or 10+ A10 innosilicon with again a ROI of 12months 2) just get about 18x 5700RX and upgrade year by year reinvesting everything, still ROI in 11months However in both cases, with the threat of ETH going POW, I guess the A10 innosilicon isn't a good deal, is it?  In the 54+ GPU case I think I'm gonna have to spend about 4 to 6 hours per day just to check on crashes though, does them crash that often? |
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What you do instead is go on Craiglist/eBay and buy as many RX 470/480/570/580 8GB GPUs as you can. You can get them for $100 each or so. Hook up 6 per rig so $600 for GPUs, $200 for PSU, $100 for motherboard, $100 for various components like risers and such. So cost for 1 rig which has 6 GPUs will be $1000. Currently each GPU makes $0.50 per day so $3 per day using ~900 Watts.
You got 4kw of power? So multiply that buy x4 and you would get $12 per day. You can also resell the GPUs in the future to gamers for maybe 50% of what you paid as long as they don't blow up. Whether this is worth the hassle its up to you. Keep in minds GPUs crash more often than ASICs so you will need to babysit them from time to time.
In general, mining is so unprofitable these days that its not even worth it if you got free power.
Thank you for the idea, I did thought about RX580, however the cheapest i could find of RX580 is 289€ (about $300) shipped to Italy, so a rig of x6 GPU would cost me about $2300-2400, that's ROI in one year of babysitting and hoping it stays at those profits rate, which won't happen, so lets calculate a ROI of 15 months, is it even worth it? Also I won't be able to upgrade nothing at some point, because it'd be using power cost from public grid at a price of $0.20 kWh, enough to cause a loss on basically every GPU out there and 90% of ASICS. All this would cost about $30k for the solar implant, which I'm not directly paying, but still has to be calculated in the picture, so basically it's never ROI, or overall would be around 15 years for a poor $2.3k Yes the profits are terrible and in my opinion I wouldn't go thru the hassle, the headache just wouldn't be worth it. Maybe if you had some experience in the past but to start off from scratch learning everything and then running into issues that you have to troubleshoot and losing money for everyday that your rig is offline is stressful. The only people who are left mining these days are the large farms in China with cheap power and get discounts on ASICs or the people who ROI'd their GPUs back in 2017 and they got 5c power and are pretty much mining and hoping ETH goes to like $500 or BTC to $20K or so. From a perspective where you mine to make a living is just not possible in 2020 especially for a home miner. How about mining altcoins? I mean, it doesn't have to be forced ETH or BTC, I could mine ZEC, RVN, MON and so on. Would these profit more? My plans were to start with a 8-12months ROI average and re-invest everything each time and go big, with an endpoint of like 500-1000 GPU's or I would consider asics since they crash way less. (this assuming i can expand my solar panels or find some deal for a cheap power cost below $0.07) I had a goal of basically start off as a home miner and turn it into a full activity |
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What you do instead is go on Craiglist/eBay and buy as many RX 470/480/570/580 8GB GPUs as you can. You can get them for $100 each or so. Hook up 6 per rig so $600 for GPUs, $200 for PSU, $100 for motherboard, $100 for various components like risers and such. So cost for 1 rig which has 6 GPUs will be $1000. Currently each GPU makes $0.50 per day so $3 per day using ~900 Watts.
You got 4kw of power? So multiply that buy x4 and you would get $12 per day. You can also resell the GPUs in the future to gamers for maybe 50% of what you paid as long as they don't blow up. Whether this is worth the hassle its up to you. Keep in minds GPUs crash more often than ASICs so you will need to babysit them from time to time.
In general, mining is so unprofitable these days that its not even worth it if you got free power.
Thank you for the idea, I did thought about RX580, however the cheapest i could find of RX580 is 289€ (about $300) shipped to Italy, so a rig of x6 GPU would cost me about $2300-2400, that's ROI in one year of babysitting and hoping it stays at those profits rate, which won't happen, so lets calculate a ROI of 15 months, is it even worth it? Also I won't be able to upgrade nothing at some point, because it'd be using power cost from public grid at a price of $0.20 kWh, enough to cause a loss on basically every GPU out there and 90% of ASICS. All this would cost about $30k for the solar implant, which I'm not directly paying, but still has to be calculated in the picture, so basically it's never ROI, or overall would be around 15 years for a poor $2.3k |
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Most likely the z15 will flood the market and kill off the coin price.
This has happened more then once to many coins.
So I guess it's not a good investment? So the most I can get out of the whole implant is just between 1-3$ a day? I'm not sure if this even worth the hassle of mining at all Idk, having to spend multiple thousands on hardware just to make out 1-3$ a day, doesn't worth it imho. I don't expect to get rich with no investment but it seems like even investing a lot, won't return any substantial profit at all |
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vicksys wrote a thread asking about a solar setup. He can get a 20kw setup grid tied which is around 3.33kw to 4kw 24/7/365 He was asking about asic btc mining. But then asked about gpu/cpu alt coin mining as we all know frodocooper will delete alt coin or move alt coin questions so I told him write up a thread here. So to all. lets say you have 3.33kwatt to 4.0kwatt an hour 24/7/365 Basically free power. Please tell what you would setup. All asic sha 256 other asic or gpu or cpu. I have sha 256 ASICs I have ltc asics I have gpu's I have cpu's If you gave me 4 k-watts for free and if noise matters I would get some old s-9 program with braiins. and run about 1 k-watt look at this. YouTube it is not click bait as I earn zero for you or anyone looking. https://www.youtube.com/watch?v=U-tLR6sEVQsthis uses about 900 watts and does about 11.0 th has special fans and 2 boards per unit to keep noise down. you can use a 3 board units if noise does not matter. braiins will let you clock to 900 watts and around 11th. that is 1 dollar a day. the miner and psu is about 75 on eBay braiins is free to download and charges 2 %. of your earnings so the s9 makes close to a dollar a day. it should pay off fast well under 100 days. as for adding gpus. L3+ asic miners for LTC + doge merge mining cpus lets try to figure out a 3.3 kwatt farm and a 4.0 kwatt farm Lets say sound is not an issue. I would do 1x 3 board s9 with braiins. --- cost under 100. power. 900 watts 1x l3+ -------------------------- cost under 100. power. 750 watts with correct firmware that is 1650 watts I think I would make a simple mining rig. First off, thanks for the sharing of ideas, I appreciate very. Do you also have any ideas on the antminer Z15 which is advertised to bring over $15 a day? Without the energy cost that would make me $20+ a day if it's not a scam (they said it is on some youtube videos, but i've no idea). -> https://www.asicminervalue.com/miners/bitmain/antminer-z15Even if they resell overpriced (double original price) at $3000, I'd be ROI in approx 3 months I don't know, it seems to good to be true, even without solar panels and paying for the energy, 420khs x 1500W would generate around $19-20 of net profit per day with a cost of $0.18 x kWh even with increasing difficulty, that's ROI in 3 months (based on https://minerstat.com/coin/NH-Equihash) |
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Thanks to both of you for the infos gathered so far.
I was also considering the option of GPU mining, according to whattomine an AMD Radeon VII would be generating 70Mh/s on Ethash (ETH) using 220W per board giving a profit of $1.55/day, so getting x6 of those GPU's would be giving a rough $9.3/day profit with usage of 1320W and producing 420Mh/s, so isn't it actually a good choice? I compared it to the AntMiner E3 which produces 180Mh/s using 800W, compared to the same hashrate of those x6 GPUs, I would need 2 ASICs, so to produce 360Mh/s I'd be using 1600W, at this point I'm 'spending' more energy to run the ASIC than what I profit if I compare both of them.
I couldn't find any offers yet on the antminer E3 however, basing an hypotetical cost of $1500 of the ASIC I'd be ROI in about 10 months, while GPUs would cost me $4800 average (based on new board price) with a ROI of 20 months (if I did calculations correct), while GPU's have a longer ROI than ASICs, I'd be able to run more of those GPU's investing back the profit given during time (due to low power usage compared to ASIC).
Are my calculations right? So in the long run, aren't GPU's a better choice than ASIC? And also, what do you think about the new antminer Z15 which is advertised with a ROI of 80 days? ($17 per day profit), scam?
Also I am based on Europe, Italy. Here the power cost is one of the highest, reaching an average of minimum $0.22/kWh and maximum of $0.32/kWh, so mining was never profitable no matter what, that's why I actually never invested on it before. Now with that chance of solar implant, the matter changes, as I'm not paying anymore.
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The solar costed me zero, it is a government issued offer. It's a legislation in which they reimburse 110% of everything you pay to build the implant up to $60k in a timeframe of 5years, however, you can give up this credit to the agency installator and they install it for free, including the panels costs and everything else. However, as a binding by contract, I won't be able to sell the exceeding energy out of consumption, I'll be forced to give it to the public net for free, so lets say i consume 3kWh for my house, 17kWh is unused and go lost. Atm I have 56panels of 360W each (20.160W total), do you think it's possible to make some profit out of those? I won't expect full power 365 days per year, as that's impossible, there is rainy days, cloudy, etc, so let's say I expect an average of 13-15kWh instead of 20.
What I am aiming for, is to run a couple of hardwares leaving enough to store energy on batteries for the night, however, I've no idea how much that would be profitable or worth to do. Because, let's say I have to pay 1.5k usd to generate 6$ a day, that would means I need 8 months to get back those 1.5k, and on a btc market, that will never happen I suppose, as it fluctuate a lot and if it goes down, I just lost moneys by the hardware cost. Are my calculations correct?
Also, why 20kWh needs to be divided by a factor of 5 or more? Aren't the panels max power (so, in my case, 360W per panel aren't full 360W)?
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I recently had an offer on my country, and I'll be able to install a 20kWh solar panel implant, and on my head ringed the idea: What if I get some mining rigs or ASIC to mine bitcoin with that, since I won't be paying anything on power consumption?
So the main question, is it still actually profitable to mine BTC or any other crypto?
Considering my setup of 20kWh power for free, what you guys would do?
I've been searching around on google looking for resources, documentation and so on, but being myself a beginner, and never mined before, I ran into some topics discussing about how ASIC's are just a scam and you won't even recover the invested prices of the ASIC itself, or stuffs like that.
What you guys suggest me to do? And, the more important question, how much that 20kWh implant is gonna profit, if there is any profit at all?
I am a beginner, so I welcome all kind of help and informations, thanks!
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