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April 16, 2014, 02:11:08 PM
Last edit: April 16, 2014, 02:22:39 PM by drmadison |
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So as of this point, the hardware isn't quite able to cover the cost of electricity+hosting.
The plan now is to get it sold ASAP and spread the money from that out based on shares. Unfortunately the drop in BTC/USD exchange rate that happened just as this buy started had a negative effect on us all. The good news is, as long as we can get a decent sales price no one should be losing much on this investment - we may even make a small profit. That's not a guarantee of course, but based on the prices these are going for on ebay, and the current exchange rate we should be pretty close.
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As an aside...I'm looking into options to take the last "variable" out of mining for us.. the BTC/USD exchange rates...
Right now we buy our miners with BTC, they mine BTC, so quite frankly the exchange rate to USD and back should be meaningless. If you pay 2 BTC and make back 2 BTC, you broke even regardless if the exchange rate doubles or halves. The one problem is the hosting / electricity cost. Because of this, I'm in talks with a local data center to see if something can be arranged for fixed hosting costs in BTC, at least across some multi-month spans.
Whether this would be either a per-payout hosting fee in BTC, or baking in 6 months of hosting time into the cost of the equipment and pre-paying it all I'm not sure, but it seems like the exchange rate is the biggest risk we face these days, NOT the ever-climbing difficulty...
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