7pence per KWH electric any good?

[doublemore]

I can get 7pence per KWH electric is that any good for doing a little mining as an amateur.  Not looking for any serious money just hopefully make a little profit, dip toes in.  Whats a good starter miner?

[notlist3d]

I can get 7pence per KWH electric is that any good for doing a little mining as an amateur.  Not looking for any serious money just hopefully make a little profit, dip toes in.  Whats a good starter miner?

Its not horrible but it's also not the best at around 11 cents (if my math is right).    So you really would need a decent deal on a miner.

Also with saying "pence" what country are you located in?   I have a feeling you might be in a country that vat or import taxes kills mining.

[doublemore]

I can get 7pence per KWH electric is that any good for doing a little mining as an amateur.  Not looking for any serious money just hopefully make a little profit, dip toes in.  Whats a good starter miner?

Its not horrible but it's also not the best at around 11 cents (if my math is right).    So you really would need a decent deal on a miner.

Also with saying "pence" what country are you located in?   I have a feeling you might be in a country that vat or import taxes kills mining.

Im in UK and that is my electric rate over night, yeah about 11 cents, based on what you say i dont think its worth my time to get into it.  Just want to do it for a bit of fun mostly.

[GreatNorthData]

My rates for hosting start at 8.75 cents USD/kWh, including all taxes and fees.

[Borisz]

I can get 7pence per KWH electric is that any good for doing a little mining as an amateur.  Not looking for any serious money just hopefully make a little profit, dip toes in.  Whats a good starter miner?

Its not horrible but it's also not the best at around 11 cents (if my math is right).    So you really would need a decent deal on a miner.

Also with saying "pence" what country are you located in?   I have a feeling you might be in a country that vat or import taxes kills mining.

Im in UK and that is my electric rate over night, yeah about 11 cents, based on what you say i dont think its worth my time to get into it.  Just want to do it for a bit of fun mostly.

If you do it for fun and learning then it is worth it probably in terms of knowledge and experience. I bough a year or more ago a block erupter miner for some fun mining. The power consumption (just like the hash rate xD) was minimal, but due to some luck it paid back. And I got to keep a tiny little cool USB miner.
I also managed to set it up with a raspberry, which was a nice learning experience as well.

[notlist3d]

I can get 7pence per KWH electric is that any good for doing a little mining as an amateur.  Not looking for any serious money just hopefully make a little profit, dip toes in.  Whats a good starter miner?

Its not horrible but it's also not the best at around 11 cents (if my math is right).    So you really would need a decent deal on a miner.

Also with saying "pence" what country are you located in?   I have a feeling you might be in a country that vat or import taxes kills mining.

Im in UK and that is my electric rate over night, yeah about 11 cents, based on what you say i dont think its worth my time to get into it.  Just want to do it for a bit of fun mostly.

If you do it for fun and learning then it is worth it probably in terms of knowledge and experience. I bough a year or more ago a block erupter miner for some fun mining. The power consumption (just like the hash rate xD) was minimal, but due to some luck it paid back. And I got to keep a tiny little cool USB miner.
I also managed to set it up with a raspberry, which was a nice learning experience as well.

It all depends on what your looking for.  I agree mining even with using usb stick miner is a good way to learn about bitoins.

As far as usb's coming to market you might check sidehacks stuff - https://bitcointalk.org/index.php?topic=995675.0  .

[philipma1957]

I can get 7pence per KWH electric is that any good for doing a little mining as an amateur.  Not looking for any serious money just hopefully make a little profit, dip toes in.  Whats a good starter miner?

in a very short time this stick comes out



https://bitcointalk.org/index.php?topic=1086011.0


25 usd there will be a european seller

think of it as a long term lottery  ticket.

You can point it at 2 pools

https://bitcointalk.org/index.php?topic=763510.0
https://bitcointalk.org/index.php?topic=789369.0


one is an all or nothing pool
one pays a little for each block.

At 11 cents a kwatt

you would spend    4 watts per hour or 96 a day or 3000 a month which is  33 cents or 21 pence monthly

Along with running a pc or a rasp pi to control it.
I run a pc 24/7/365  so my extra cost is 0.

If you are not running a pc or a rasp pi 24/7/365 you need to add that in. (makes my idea less attractive)

of course you can mine when the pc is on which is not as much chance to hit a block but you are doing low end fun mining

[Amph]

My rates for hosting start at 8.75 cents USD/kWh, including all taxes and fees.

not optimal , but there is still profit to be made with that rate, $3.35 -1.236, so a little above 2 dollars per day

1.236 = with 14.160 kw/h per day(590 x 24/1k) and 0.0875 per kw, we are looking at $1.236 cost per day

[notlist3d]

My rates for hosting start at 8.75 cents USD/kWh, including all taxes and fees.

not optimal , but there is still profit to be made with that rate, $3.35 -1.236, so a little above 2 dollars per day

1.236 = with 14.160 kw/h per day(590 x 24/1k) and 0.0875 per kw, we are looking at $1.236 cost per day

I agree there is still some profit left at that rate.  I just with "Lowest-Cost Miner Hosting:" as advertised was even cheaper.   

If somewhere in the US can do 6 cent's or so I think they would find a LOT of business.  But so far no one has gone to that extent.

[GreatNorthData]

I agree there is still some profit left at that rate.  I just with "Lowest-Cost Miner Hosting:" as advertised was even cheaper.   

If somewhere in the US can do 6 cent's or so I think they would find a LOT of business.  But so far no one has gone to that extent.

We're working on a massive expansion, it will take several months. However, it will drastically lower our costs and in January 2016 we will be offering 6 cents/kwh to all customers, and even lower for bulk clients.

We'll make some big posts when our new site is ready.

[philipma1957]

I agree there is still some profit left at that rate.  I just with "Lowest-Cost Miner Hosting:" as advertised was even cheaper.   

If somewhere in the US can do 6 cent's or so I think they would find a LOT of business.  But so far no one has gone to that extent.

We're working on a massive expansion, it will take several months. However, it will drastically lower our costs and in January 2016 we will be offering 6 cents/kwh to all customers, and even lower for bulk clients.

We'll make some big posts when our new site is ready.

6 cents is good. I Look forward to that.

[GreatNorthData]

6 cents is good. I Look forward to that.

With the halving we figure that's where we need to be in order to keep ahead of the competition. Our goal is to always be the most efficient mining operation open to the public. The halving will have a "survival of the fittest" effect on the market.

[Arctic]

We're working on a massive expansion, it will take several months. However, it will drastically lower our costs and in January 2016 we will be offering 6 cents/kwh to all customers, and even lower for bulk clients.

We'll make some big posts when our new site is ready.

Which company is supplying your power?  Newfoundland commercial rates seem to bottom out at about .07CAN = 0.054 USD which would leave you half a cent of margin per kwh which isn't enough to pay for a building/staff etc

[GreatNorthData]

We're working on a massive expansion, it will take several months. However, it will drastically lower our costs and in January 2016 we will be offering 6 cents/kwh to all customers, and even lower for bulk clients.

We'll make some big posts when our new site is ready.

Which company is supplying your power?  Newfoundland commercial rates seem to bottom out at about .07CAN = 0.054 USD which would leave you half a cent of margin per kwh which isn't enough to pay for a building/staff etc

We aren't paying those published rates and our locations are also extremely remote.

[notlist3d]

We're working on a massive expansion, it will take several months. However, it will drastically lower our costs and in January 2016 we will be offering 6 cents/kwh to all customers, and even lower for bulk clients.

We'll make some big posts when our new site is ready.

Which company is supplying your power?  Newfoundland commercial rates seem to bottom out at about .07CAN = 0.054 USD which would leave you half a cent of margin per kwh which isn't enough to pay for a building/staff etc

We aren't paying those published rates and our locations are also extremely remote.

I wish it was not quiet as remote.  At 6 cent's though once you get there I might just make a drive to check it possibly bring some gear.

[GreatNorthData]

I wish it was not quiet as remote.  At 6 cent's though once you get there I might just make a drive to check it possibly bring some gear.

It's a long, long drive. If you were serious, there are scattered small airports around the province so you'll be able to find a flight from Montreal or Halifax that'll get you there. Anyway... lots and lots of work to do before January.

[RichBC]

It's tough in the UK, a typical Standard Tariff is around 14p/KWH. SSE have just closed a 1 Year fixed tariff @ 9.43p/KWH which I have signed up for.

The very best SSE "Economy 7" overnight Tariffs, again just closed, was at 5.1p/KWH, however there are others close to this.

On the 9.43p Tariff you are at the moment at break even with a standard S3 (very good value 2nd hand) but can still make some money with an undervolted / underclocked one or with an S5.

I have this slightly hairbrained idea about using the Night Tariff to run the miner and charge a UPS, and to then continue to run the miner in the peak times from the UPS. 

Rich

P.S. @GreatNorthData. Do you have any plans to sell equipment & hosting to people that cannot make the trip?

[GreatNorthData]

P.S. @GreatNorthData. Do you have any plans to sell equipment & hosting to people that cannot make the trip?

Typically our clients order gear from a manufacturer and have it delivered straight to our facility. We don't sell any equipment now, but who knows what the future holds. We'd only ever sell equipment if we were 100% satisfied with the quality.

[dairy100]

I agree there is still some profit left at that rate.  I just with "Lowest-Cost Miner Hosting:" as advertised was even cheaper.   

If somewhere in the US can do 6 cent's or so I think they would find a LOT of business.  But so far no one has gone to that extent.

We're working on a massive expansion, it will take several months. However, it will drastically lower our costs and in January 2016 we will be offering 6 cents/kwh to all customers, and even lower for bulk clients.

We'll make some big posts when our new site is ready.

Wow how many megawatts will that January place have?

[GreatNorthData]

Wow how many megawatts will that January place have?

Several MWs. We're aiming for 10MW for Jan 1, but we'll see how it goes.