Is it worth it ?

[Pea]

Hi All

I have been offered a used Spondoolies SP20 and 500W PSU for 350 GBP delivered ..

I currently have a 750W PSU what is being used for my Antminer S1 so I am guessing i will be fine to use these 2 PSU's if i do purchase the SP20 to power it ?

So my question is, is it worth the initial cost, or do I need something better still than the SP20 to see a ROI ?

I currently pay around per 0.11 GBP per kWh for electricity.

As a side note, is my S1 still profitable ? I do not believe it is, but please let me know  

Thanks.

[Lituation]

I think you can't make ROI ever. 0.11 GBP per kwh is expensive electricity cost. It should be 0.02 GBP around to make profit from mining.

[Nas]

Hi All
I have been offered a used Spondoolies SP20 and 500W PSU for 350 GBP delivered ..

I think it's expensive.

I currently have a 750W PSU what is being used for my Antminer S1 so I am guessing i will be fine to use these 2 PSU's if i do purchase the SP20 to power it ?

Yes, they are more than enough.

So my question is, is it worth the initial cost, or do I need something better still than the SP20 to see a ROI ?

I currently pay around per 0.11 GBP per kWh for electricity.

SP20 is a good mining equipment but 0.11 GBP per kWh for electricity, seriously? I think you will NEVER do mining in UK with these electric prices!

As a side note, is my S1 still profitable ? I do not believe it is, but please let me know 

S1 is profitable if your electricity is -almost- free. But you said you pay huge amount of money for electricity. It's just nothing but loss in this situation.

[Pea]

Thanks for the replies guys .. I guess with the cost of the electric then there is almost no point ..

I did purchase an S1 around a year ago just to get into it, but even then I was just about breaking even if i remember correctly ...

Just checked my rate and it is ..

11.445p per kWh

So yep ... 0.11GBP ?

Damn ...


Do you guys believe that the SP20 is expensive used at £350 then ? At the moment I see one on eBay and its currently bidding at 500 + GBP so I thought i would of got a good deal at 350 GBP ?


Cheers.

[jonnybravo0311]

Is it worth it?

If you had that SP20 in hand right now, it would expect to earn 0.01635BTC, or £2.90, daily at current network difficulty and BTC exchange rates.  With your power rates, the SP20 would cost you £3.30 a day to operate.

As for the price being offered... when SP-Tech was selling them you could get them new for £306 plus any import and VAT you guys have over on that side of the pond.  That was 8 months ago.

[Pea]

Is it worth it?

If you had that SP20 in hand right now, it would expect to earn 0.01635BTC, or £2.90, daily at current network difficulty and BTC exchange rates.  With your power rates, the SP20 would cost you £3.30 a day to operate.

As for the price being offered... when SP-Tech was selling them you could get them new for £306 plus any import and VAT you guys have over on that side of the pond.  That was 8 months ago.

Very informative ! Thanks for that ... I guess unless I can get cheaper electricity from another provider then I am just loosing money even if I got the SP20 for free !

Can you do the same comparison with the Antminer S1 please ?

How much would i expect to earn vs how much it will cost to operate please

Cheers !

[jonnybravo0311]

S1 is 180GH/s at 360W.

Expects to earn 31p a day.  Will cost you 99p a day to operate.

Right now, the most efficient miner out there is the S5 from Bitmain.  In your case, the numbers are that it would expect to make £1.97 a day and cost you £1.62 a day to run.... so if you happened to get an S5 for free, you'd make a net profit of 35p a day.

[Pea]

S1 is 180GH/s at 360W.

Expects to earn 31p a day.  Will cost you 99p a day to operate.

Right now, the most efficient miner out there is the S5 from Bitmain.  In your case, the numbers are that it would expect to make £1.97 a day and cost you £1.62 a day to run.... so if you happened to get an S5 for free, you'd make a net profit of 35p a day.

Thanks for that - one quick question .. If I were to have the S5 from Bitmain, would the one 750W Corsair PSU I have power it ?

Cheers.

[philipma1957]

S1 is 180GH/s at 360W.

Expects to earn 31p a day.  Will cost you 99p a day to operate.

Right now, the most efficient miner out there is the S5 from Bitmain.  In your case, the numbers are that it would expect to make £1.97 a day and cost you £1.62 a day to run.... so if you happened to get an S5 for free, you'd make a net profit of 35p a day.

Thanks for that - one quick question .. If I were to have the S5 from Bitmain, would the one 750W Corsair PSU I have power it ?

Cheers.

yes but close to the edge.

no overclock room.

and you may need to down clock from freq 350/1150gh

to freq 300/1000gh or freq 325/1075gh

[Pea]

S1 is 180GH/s at 360W.

Expects to earn 31p a day.  Will cost you 99p a day to operate.

Right now, the most efficient miner out there is the S5 from Bitmain.  In your case, the numbers are that it would expect to make £1.97 a day and cost you £1.62 a day to run.... so if you happened to get an S5 for free, you'd make a net profit of 35p a day.

Thanks for that - one quick question .. If I were to have the S5 from Bitmain, would the one 750W Corsair PSU I have power it ?

Cheers.

yes but close to the edge.

no overclock room.

and you may need to down clock from freq 350/1150gh

to freq 300/1000gh or freq 325/1075gh

Thanks - how would I know if I did indeed need to down clock it ? What would be the obvious signs .. HW failures ?

I would look at upgrade PSU anyway I think but if it could run it until that time then that would be great ...

Now the hunt begins to find an S5 at a good price in the UK ..

Cheers.

[VirosaGITS]

S1 is 180GH/s at 360W.

Expects to earn 31p a day.  Will cost you 99p a day to operate.

Right now, the most efficient miner out there is the S5 from Bitmain.  In your case, the numbers are that it would expect to make £1.97 a day and cost you £1.62 a day to run.... so if you happened to get an S5 for free, you'd make a net profit of 35p a day.

Thanks for that - one quick question .. If I were to have the S5 from Bitmain, would the one 750W Corsair PSU I have power it ?

Cheers.

yes but close to the edge.

no overclock room.

and you may need to down clock from freq 350/1150gh

to freq 300/1000gh or freq 325/1075gh

Thanks - how would I know if I did indeed need to down clock it ? What would be the obvious signs .. HW failures ?

I would look at upgrade PSU anyway I think but if it could run it until that time then that would be great ...

Now the hunt begins to find an S5 at a good price in the UK ..

Cheers.

No, it really depend on the efficiency of the PSU. A EVGA G2 would do it no problem. Also the cap are high quality so you could run them at near max load for a long time without any problems, so at a small efficiency loss you would still have some headroom.
But for example i have 2 undervolted S1, they take 150~ watt each, on a 94% PSU they take 160watt each~ or so. On a 430w Thermaltake with no rating they drain 410watt or 205 watt each +10watt for the psu fan.

So it depend on the efficiency rating of your 750w psu.

And seeing the marginal daily gain of the S5, i would recommend you just wait and see if the S7 comming out SoonTM will be ROI-able, because at your very high electricity cost you won't ROI it. To be honest your electricity cost is so high it would be much better for you to have it hosted.

[Pea]

Ah right ok I get you ...

I will wait around and see when and if the S7 gets released and possibly go for one of them unless I pick up an S5 dirt cheap ...

Yeh the electric cost is the worse .. but I think i am on a pretty good rate within the UK ... I cannot seem to find anything under 0.10 per kWh

The PSU I have at present is a Corsair CX 750

Cheers.

[Tigggger]

Ah right ok I get you ...

I will wait around and see when and if the S7 gets released and possibly go for one of them unless I pick up an S5 dirt cheap ...

Yeh the electric cost is the worse .. but I think i am on a pretty good rate within the UK ... I cannot seem to find anything under 0.10 per kWh

The PSU I have at present is a Corsair CX 750

Cheers.

Mining for profit is pretty much dead in the UK unless you aren't paying for electric.

On top of the expensive electric you'll get hit with 20% import duty which makes any chance of ROI remote

If you do intend to buy an S7 or something else, unless there is a good reason to bring it to the UK you might want to consider shipping it direct to a hosting company, there are many in the USA for example where there is no import duty so that's a big saving already, they have much cheaper electric so even once you factor in their hosting costs it's still cheaper than running it here.

List of hosting providers... https://bitcointalk.org/index.php?topic=622998.0

I've also bought numerous machines from pcfli in china where they are hosted at very good rates (my old dragons are still profitable with him 12 months after I sold my UK ones) I'm sure he'll announce when something new is arriving in his currrent S5 thread... https://bitcointalk.org/index.php?topic=934581.0

[VirosaGITS]

Ah right ok I get you ...

I will wait around and see when and if the S7 gets released and possibly go for one of them unless I pick up an S5 dirt cheap ...

Yeh the electric cost is the worse .. but I think i am on a pretty good rate within the UK ... I cannot seem to find anything under 0.10 per kWh

The PSU I have at present is a Corsair CX 750

Cheers.

I see, but there is no point in comparing your electricity cost to the rest of the UK... You're actually competing with maybe something like 90% of the miners running on 0.03-0.05usd/kwh. With your 0.15usd/kwh you'd be better off using those 0.08usd/kwh datacenter or trustable cloud which varies. But even using overpriced hosting at 0.11usd/kwh would be better for you.

Alot of people recommend not mining if you're at 0.1+ and that you are, it seem. So regardless what you get, profiting for you will be hard. Good luck nevertheless!