A case study in entry-level mining

[ASICSPACE]

Making ROI is all about electricity costs. Homeowners actually have some advantages over datacenters. They have pre-existing electrical and cooling infrastructure. Datacenters have to pay for that, but they have the luxury of being located in three cent electricity regions.

Let's say there's a 5 cent difference that a datacenter has over you. That means on a per kw basis, a datacenter earns $7.3/month. So as long as the cost for the datacenter to produce that kw is less than $87, then in one year the datacenter has an edge over the homeowner.

Not only that, because its datacenter you need to hire security guard and someone to look over it when server is down. More cost..

It really comes down often to how much you value peace and quiet in your home. Also, you really can't scale inside your house xD.

[Juan007]

What does it mean your score in the table last shift? I have a power of 14 ghs and the value is 0.001%. Then, if you think the power of the pool increases, and my power is always the same gain for less?

[LogicalUnit]

The Jig Is Up

After 5 months of continuous operation, someone finally noticed my Antminer S1 in the patch cupboard, and made an official complaint. I have nowhere else I can put it, so I'm afraid I have to switch it off.

This is perhaps fitting, as I am now generating only 0.001 BTC per day, which is currently worth approximately 0.44 AUD. My electricity costs are approximately 1.45 AUD per day, so I would be losing money to keep it running.

As for what to do next, I'm not really sure. I have 3 BTC in paper wallets stored in a safe. I have another 1 BTC stored in various offline and online wallets. BTC is trending downwards at the moment.

The Antminer S1 was my best effort yet, but I'm still struggling to achieve anything more than academic value out of my mining efforts. Academic is cool, and I'm pleased to be contributing to the network, but this hobby is getting expensive.

[ABitNut]

The Jig Is Up

After 5 months of continuous operation, someone finally noticed my Antminer S1 in the patch cupboard, and made an official complaint. I have nowhere else I can put it, so I'm afraid I have to switch it off.

This is perhaps fitting, as I am now generating only 0.001 BTC per day, which is currently worth approximately 0.44 AUD. My electricity costs are approximately 1.45 AUD per day, so I would be losing money to keep it running.

As for what to do next, I'm not really sure. I have 3 BTC in paper wallets stored in a safe. I have another 1 BTC stored in various offline and online wallets. BTC is trending downwards at the moment.

The Antminer S1 was my best effort yet, but I'm still struggling to achieve anything more than academic value out of my mining efforts. Academic is cool, and I'm pleased to be contributing to the network, but this hobby is getting expensive.

I guess you had a fair run with the S1. If factoring in electricity costs you would have probably taken it offline over a month ago. Am I right to assume you're not going to continue mining? Or do you have some future plans?

Cheers.

[fbarcelo]

As I understand the only way to get profit in BTC mining is buying with high volume discount prices and setting your installation in a place with low electricity costs.
That requires high investments, for small investors there are 2 ways associate in order to have enough capital to make a big investment or mine alt coins.

Cloudminning could be also a case, but involves a high scam risk.

Do anyone see other option?

[snowcrawl]

I am also out.  I just turned off my S1 and 6 HEX16A2.  I had a look at my BTC guild withdrawal stats and I only had 2 payouts for over the past 7 days, which doesn't cover the electrical costs.  Especially with the current low value of BTC.  At the moment I have no future plans to mine bitcoins.

[JohnnyBTC]

I am also out.  I just turned off my S1 and 6 HEX16A2.  I had a look at my BTC guild withdrawal stats and I only had 2 payouts for over the past 7 days, which doesn't cover the electrical costs.  Especially with the current low value of BTC.  At the moment I have no future plans to mine bitcoins.

don't give up buddy!