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Hello,
I have been wanting to get into mining for a while now and was wondering if I can get some advice. I want to invest about 2-4k into this project and was wondering what the most profitable way of doing so would be. I do live in an area where solar power can be done ( just have to find how much power i would need )so what advice do you have? I will be able to drop another 2 -4 k ( not including what profits I get from mining)"farm" every 12 or so weeks. My goal would to be able to have a good profit margin after a year or so
I have been wanting to get into mining for a while now and was wondering if I can get some advice. I want to invest about 2-4k into this project and was wondering what the most profitable way of doing so would be. I do live in an area where solar power can be done ( just have to find how much power i would need )so what advice do you have? I will be able to drop another 2 -4 k ( not including what profits I get from mining)"farm" every 12 or so weeks. My goal would to be able to have a good profit margin after a year or so
There are a lot of variables:
-what is your electricity rate
-what is your technical knowledge
-what do you know about bitcoins
-do you have a space for mining equipment: it consumes a lot of power, and generates a lot of heat+noise
If you can answer these questions, we can probably give you some hints on what to read/study/buy/...
My electrical rate is 0.0295per kwh during peek
My technical knowledge is some what high. I am a software developer and have above average hardware knowledge.
From what I understand about bit coin is you use your "device" for computing power to mine(gets harder and less reward over a given about of time.) It is more profitable to join a mining group.
I do have space for the rigs
