What is the best/most current device for mining purposes?

[6strings]

As per subject.
Looking for mining options to use come fall. I have cheap power($0.08 USD/KWH). Previously I was able to heat my home cheaper by mining than with the actual heaters in my friggin house. For the first winter I even made a hefty profit and kept the home nice and toasty but since GPU mining is more or less dead I sold off most of my gear. Whats out there these days that I should look into?
I'll probably fund the purchase using BTCJam so cost isn't an issue assuming the device actually has potential for a decent return.

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[Philipma1957onvacation]

As per subject.
Looking for mining options to use come fall. I have cheap power($0.08 USD/KWH). Previously I was able to heat my home cheaper by mining than with the actual heaters in my friggin house. For the first winter I even made a hefty profit and kept the home nice and toasty but since GPU mining is more or less dead I sold off most of my gear. Whats out there these days that I should look into?
I'll probably fund the purchase using BTCJam so cost isn't an issue assuming the device actually has potential for a decent return.

Eight cent power and a heat benefit means you are close to six cent power.

So I would argue s-3 may make sense. Since the s-7 is not available. The s-5 is really loud and more than three times the price of the s-3.

An s-3 at 80 usd is 240 usd for 1200gh. The s-5 is more then 425 usd for 1150 gh one uses 950 watts the other uses 300 watts. So the s-5 saves you about 18-20 a month but costs you 210 usd extra up front

[6strings]

As per subject.
Looking for mining options to use come fall. I have cheap power($0.08 USD/KWH). Previously I was able to heat my home cheaper by mining than with the actual heaters in my friggin house. For the first winter I even made a hefty profit and kept the home nice and toasty but since GPU mining is more or less dead I sold off most of my gear. Whats out there these days that I should look into?
I'll probably fund the purchase using BTCJam so cost isn't an issue assuming the device actually has potential for a decent return.

Eight cent power and a heat benefit means you are close to six cent power.

So I would argue s-3 may make sense. Since the s-7 is not available. The s-5 is really loud and more than three times the price of the s-3.

An s-3 at 80 usd is 240 usd for 1200gh. The s-5 is more then 425 usd for 1150 gh one uses 950 watts the other uses 300 watts. So the s-5 saves you about 18-20 a month but costs you 210 usd extra up front

Thank you for the reply.
I'll take a look into what you mentioned.
I should also say that noise isn't an issue as I will be putting the unit(s) in the basement.
Is there anything else coming out in the near future that I should keep an eye out for? I am aiming for Sept/Oct before making the purchase.

[lyth0s]

Mining quickly becomes unprofitable as difficulty increases. Also generally speaking there are some new 16nm and 3D chip printing coming out that would quickly make current gen ASIC's useless if that tech gets applied to the Bitcoin world.

Buy and hold is usually a better strategy, even after the post-2013 decline.

[Amph]

As per subject.
Looking for mining options to use come fall. I have cheap power($0.08 USD/KWH). Previously I was able to heat my home cheaper by mining than with the actual heaters in my friggin house. For the first winter I even made a hefty profit and kept the home nice and toasty but since GPU mining is more or less dead I sold off most of my gear. Whats out there these days that I should look into?
I'll probably fund the purchase using BTCJam so cost isn't an issue assuming the device actually has potential for a decent return.

Eight cent power and a heat benefit means you are close to six cent power.

So I would argue s-3 may make sense. Since the s-7 is not available. The s-5 is really loud and more than three times the price of the s-3.

An s-3 at 80 usd is 240 usd for 1200gh. The s-5 is more then 425 usd for 1150 gh one uses 950 watts the other uses 300 watts. So the s-5 saves you about 18-20 a month but costs you 210 usd extra up front

Thank you for the reply.
I'll take a look into what you mentioned.
I should also say that noise isn't an issue as I will be putting the unit(s) in the basement.
Is there anything else coming out in the near future that I should keep an eye out for? I am aiming for Sept/Oct before making the purchase.

if you can wait at this point it would be better, since new hw are coming out soon, especially if you have not a very good rate like 0.08, which isn't bad but not ideal either

[philipma1957]

As per subject.
Looking for mining options to use come fall. I have cheap power($0.08 USD/KWH). Previously I was able to heat my home cheaper by mining than with the actual heaters in my friggin house. For the first winter I even made a hefty profit and kept the home nice and toasty but since GPU mining is more or less dead I sold off most of my gear. Whats out there these days that I should look into?
I'll probably fund the purchase using BTCJam so cost isn't an issue assuming the device actually has potential for a decent return.

Eight cent power and a heat benefit means you are close to six cent power.

So I would argue s-3 may make sense. Since the s-7 is not available. The s-5 is really loud and more than three times the price of the s-3.

An s-3 at 80 usd is 240 usd for 1200gh. The s-5 is more then 425 usd for 1150 gh one uses 950 watts the other uses 300 watts. So the s-5 saves you about 18-20 a month but costs you 210 usd extra up front

Thank you for the reply.
I'll take a look into what you mentioned.
I should also say that noise isn't an issue as I will be putting the unit(s) in the basement.
Is there anything else coming out in the near future that I should keep an eye out for? I am aiming for Sept/Oct before making the purchase.

if you can wait at this point it would be better, since new hw are coming out soon, especially if you have not a very good rate like 0.08, which isn't bad but not ideal either

yeah if he waits until late sept and gets to use the miners heat  his rate = 6 cents.  maybe an s-7 comes out.  or maybe the new s-7 drops the s-5 down to a cheap rate and he buys s-5's used at a cheap price.

[6strings]

if you can wait at this point it would be better, since new hw are coming out soon, especially if you have not a very good rate like 0.08, which isn't bad but not ideal either

Yes but take into account that I will also be using these as an alternative to my baseboard heaters, which burn 1500w an hour. To heat the house would require using 4-6 of these come winter. All they provide is heat and a hefty power bill. If I buy a few of these miners I'll be using less power, likely getting more heat, and I'll receive a return on top of it all. Its a no brainer.

[spazzdla]

Mining quickly becomes unprofitable as difficulty increases. Also generally speaking there are some new 16nm and 3D chip printing coming out that would quickly make current gen ASIC's useless if that tech gets applied to the Bitcoin world.

Buy and hold is usually a better strategy, even after the post-2013 decline.

Difficulty has been pretty flat for over a year..

[philipma1957]

Mining quickly becomes unprofitable as difficulty increases. Also generally speaking there are some new 16nm and 3D chip printing coming out that would quickly make current gen ASIC's useless if that tech gets applied to the Bitcoin world.

Buy and hold is usually a better strategy, even after the post-2013 decline.

Difficulty has been pretty flat for over a year..

yeah been good since oct-nov 2014.

the op has 8 cent power which = 6 cent in the winter since he gets to use the heat.

So he should get some gear.  for late sept early oct.

I can't tell him what to do for that time frame, but for now only an used s-3  makes sense.  the  s-5 costs far too much.  

An s-3 using 8 cent power makes 16 to 17 usd over power cost each month and when cold weather comes he gets a heat benefit.

[notlist3d]

Mining quickly becomes unprofitable as difficulty increases. Also generally speaking there are some new 16nm and 3D chip printing coming out that would quickly make current gen ASIC's useless if that tech gets applied to the Bitcoin world.

Buy and hold is usually a better strategy, even after the post-2013 decline.

Difficulty has been pretty flat for over a year..

yeah been good since oct-nov 2014.

the op has 8 cent power which = 6 cent in the winter since he gets to use the heat.

So he should get some gear.  for late sept early oct.

I can't tell him what to do for that time frame, but for now only an used s-3  makes sense.  the  s-5 costs far too much.  

An s-3 using 8 cent power makes 16 to 17 usd over power cost each month and when cold weather comes he gets a heat benefit.

It's been a great summer for miners.  A lot of people will say mining is dead.  But I don't think they realize the slow increase on difficulty as mentioned.

As far as current gear it's all pretty much used.  Were really between generations.  Even the S5 from bitmain is "2nd hand" that is being sold.   

[notlist3d]

Difficulty is holding seems we see a little jump this period not huge, but bigger then most other recent ones:

Bitcoin Difficulty:    52,278,304,846
Estimated Next Difficulty:    54,301,480,637 (+3.87%)
Adjust time:    After 1395 Blocks, About 9.4 days
Hashrate(?):    386,418,374 GH/s

Price is around 290.  Still having trouble getting close to 300 and jumping over it.

[6strings]

Thanks for the info and advice thus far folks. I appreciate the input.

[GermanGiant]

Are not 21 chips available yet ? I can see 21 inc is becoming a major pool in short time.

[notlist3d]

Are not 21 chips available yet ? I can see 21 inc is becoming a major pool in short time.

As far as I know no public miners are using them.   Have we even seen a data center for them?   I don't think I've seen the inside of one of theirs but I could be mistaken on that.

[Bitsaurus]

I suspect the US heatwave is keeping difficulty down for now.  Now if we could just get a heatwave in China...