New mining setup abroad

[periculo]

Hi All,

I am in the process of setting up my first mining farm and would appreciate any help or suggestions.

I am basing the farm in a south Asian country where the electricity rates are circa £0.018 pkw.

I am going to be purchasing 10x antminer S4+ and putting them into a standard 47u rack, with a UPS and airconditioning etc..

Using the calculators available online i can see that it is likely to break even fairly quick, even so with the decline in the cost per BTC. the cost i feel is acceptable as i was one of the lucky people who stumbled across bitcoins in the early days, however i have only just got back into researching.

I am in the process of finalizing the premise etc.. and was wondering lifespan of rigs etc.. as i cant go across the world multiple times a year. I'm also wondering how plausible it is to set up remote monitoring, do these come with interfaces that i can just open a port on the router and access via the WAN IP? I will have people nearby who can act as 'smart hands' should any hardware failures occur. Any constructive criticism will be appreciated however i am definitely going through with this for the inevitable doubters..


Thanks in advance

[notlist3d]

Hi All,

I am in the process of setting up my first mining farm and would appreciate any help or suggestions.

I am basing the farm in a south Asian country where the electricity rates are circa £0.018 pkw.

I am going to be purchasing 10x antminer S4+ and putting them into a standard 47u rack, with a UPS and airconditioning etc..

Using the calculators available online i can see that it is likely to break even fairly quick, even so with the decline in the cost per BTC. the cost i feel is acceptable as i was one of the lucky people who stumbled across bitcoins in the early days, however i have only just got back into researching.

I am in the process of finalizing the premise etc.. and was wondering lifespan of rigs etc.. as i cant go across the world multiple times a year. I'm also wondering how plausible it is to set up remote monitoring, do these come with interfaces that i can just open a port on the router and access via the WAN IP? I will have people nearby who can act as 'smart hands' should any hardware failures occur. Any constructive criticism will be appreciated however i am definitely going through with this for the inevitable doubters..


Thanks in advance

You can set a PC there and remote into it and do most things this way.    You will though on occasion if some things  go wrong need those with physical access to do restarts, etc.

As far as lifespan at that price of electricity it's hard to say that is a very very good price ( I would double check and make sure that is correct with all fee's etc in it).  It would also depend on difficulty.   Difficulty has been slow so far this summer.   But no one can tell you what it will be for sure in 6 months or a year.  We can speculate yes but no definite anwser.  But I would guess they run for quite a while.

I don't see it but with being far away I highly suggest investing in a decent camera system and possible security system depending on cost and location.  It is nice to go to sleep and know your miners are safe.

Also if you can do evaporation cooling or fans instead of AC you will save quite a bit of money.   

[periculo]

Thanks for the response,

fortunately i have family out there who own multiple premises and i am confident that they are secure, however i was looking at a few POE IP cameras.

May prove to be a pain with the remote IP as i'm not sure of the procedure of getting a static IP out there or the use of something like DYNDNS as i need to look into their ISPs. The electricity fee is quite accurate, as the premise that i am going to use is based within a block of industrial buildings. Given the country that it is in and the sway you can have on electricity boards etc.. with the right influence it's actually cheaper than the standard business rate in that country (which is already cheap enough) around 0.08$ pkw.

Interest RE the cooling, i was going with AC as it is already supplied in the building given the climate and is included in the rent of the premises. The ambient temp there is around 40C most of the year which is one of the biggest caveats as i'm wondering whether or not the AC will keep temps down..

One of the biggest factors of this venture is the amount of people who claim it not worth mining BTC anymore unless you where already involved before difficulty increases. My theory is that Miners could not keep their legacy kit in situ as it would become outdated extremely fast, thus buying new kit available to other consumers... However the investment i suppose would have been supplemented greatly by profits in the early days.

Quite exciting really!

[notlist3d]

Made smaller

May prove to be a pain with the remote IP as i'm not sure of the procedure of getting a static IP out there or the use of something like DYNDNS as i need to look into their ISPs. The electricity fee is quite accurate, as the premise that i am going to use is based within a block of industrial buildings. Given the country that it is in and the sway you can have on electricity boards etc.. with the right influence it's actually cheaper than the standard business rate in that country (which is already cheap enough) around 0.08$ pkw.

Interest RE the cooling, i was going with AC as it is already supplied in the building given the climate and is included in the rent of the premises. The ambient temp there is around 40C most of the year which is one of the biggest caveats as i'm wondering whether or not the AC will keep temps down..

You can set a PC there and remote into it and do most things this way.    DO NOT open up the router to allow outside access to your miners.  We want to keep them inside your firewall.   You will want to do remote desktop or teamviewer or something such as that.

I highly recommend teamviewer and have a PC on there you can remote into.  With teamviewer you can log in no matter what IP your network is pulling. 

On cooling with 10 S4+ I do not think most standard AC will do the trick.  Unless it is a data center or something that really deals with getting it cold.  I have a feeling you will need to work on a exhaust system to get hot air out and something to push cool or at least new air in.  Unless you can do evaporation cooling if you can do that really look into it, it depends on climate if people can use evaporation units.

[periculo]

Thanks again - will look into the evaporative cooling that you have mentioned.

In regards to opening up the router, I use that phrase loosely, it would have a draytek router with a sonic wall in front of that, the remote access would be locked down to my home WAN IP on a random port, this also has network monitoring should anything try to access which is quite unlikely. As should this prove profitable I would have a few pc's set up on both end and eventually a site to site VPN to my business network as I would like to have someone onsite doing other work as a quick response

Fortunately network security is my daytime job so I should be fairly safe! Also, I am unable to find a +rep button or thank button for your helpful replies, I really do appreciate the advice!

Thanks!

[notlist3d]

Thanks again - will look into the evaporative cooling that you have mentioned.

In regards to opening up the router, I use that phrase loosely, it would have a draytek router with a sonic wall in front of that, the remote access would be locked down to my home WAN IP on a random port, this also has network monitoring should anything try to access which is quite unlikely. As should this prove profitable I would have a few pc's set up on both end and eventually a site to site VPN to my business network as I would like to have someone onsite doing other work as a quick response

Fortunately network security is my daytime job so I should be fairly safe! Also, I am unable to find a +rep button or thank button for your helpful replies, I really do appreciate the advice!

Thanks!

Not a problem at all.  I enjoy helping on forums and talking bitcoin talk .

But that is a very valid security measure if you have a static IP to lock it to that.   And IP cameras really are not that expensive anymore I suggest looking into that as it's nice to see them if away.

But sounds like you are headed in good direction.  Best of luck!  Happy Mining!

[hedgy73]

I am basing the farm in a south Asian country where the electricity rates are circa £0.018 pkw.

£0.018 . Wow I wish it was that cheap here in the UK. Go for it at that price you really cant go wrong .

Good luck!

[Mikestang]

One of the biggest factors of this venture is the amount of people who claim it not worth mining BTC anymore unless you where already involved before difficulty increases.

This is mainly a result of the electricity rate people pay, but it sounds like your setup is a good one (especially if AC is included in your rent, cooling is a huge cost) and you should see a profit sooner than later.  Post up some pictures when you get set up!

[jonnybravo0311]

Hi All,

I am in the process of setting up my first mining farm and would appreciate any help or suggestions.

I am basing the farm in a south Asian country where the electricity rates are circa £0.018 pkw.

I am going to be purchasing 10x antminer S4+ and putting them into a standard 47u rack, with a UPS and airconditioning etc..

Using the calculators available online i can see that it is likely to break even fairly quick, even so with the decline in the cost per BTC. the cost i feel is acceptable as i was one of the lucky people who stumbled across bitcoins in the early days, however i have only just got back into researching.

I am in the process of finalizing the premise etc.. and was wondering lifespan of rigs etc.. as i cant go across the world multiple times a year. I'm also wondering how plausible it is to set up remote monitoring, do these come with interfaces that i can just open a port on the router and access via the WAN IP? I will have people nearby who can act as 'smart hands' should any hardware failures occur. Any constructive criticism will be appreciated however i am definitely going through with this for the inevitable doubters..


Thanks in advance

Put a $35 rPi in there and have it function as your VPN server.  It takes all of about an hour to setup.  You can remotely access your miners.  I have been running this for quite some time.

With your power costs being virtually negligible, you'll be raking in some pretty decent coin.  Feel like hosting a few extra miners?

[sloopy]

This is a great opportunity. I'm sure more people are using other avenues of family and relatives in other parts of the world to share the wealth.
Also, run a full node at your home just to give back to the network and you start giving back and making coin together.

I love the concept of keeping miners with relatives, but man, I have been through some rough times with relatives as well. No loans, no politics, no religion haha