Mining idea need advice

[chubzz]

Hello there,

Newbie here with a idea for mining, basicly me and a few friends are starting up a company and will have an office, so included in the price is the electric bill, so we could use as much as we want, so our plan was to have to start with 5 rig's

Specs per rig:
6GB Ram
Dual core AMD (cant remember what one)
3x ATI 7970

Dont think CPU and RAM is important if I remember correctly, but basicly we will have 3 GUI miners running per machine, 24/7 and we don't have to pay any more for electricity than we allready had to for the office space.

How much do you think could be made this way?

Thanks in advance

[nobbynobbynoob]

GPU mining is passé, or soon will be?

[Akka]

If Asics come out in the next 2-3 Month you would make next to nothing with this GPU rigs.

At the moment it's way to risky to invest in new GPU rigs.

[chubzz]

Ah okay, I never knew of this

What would you's reccomend then? Allot of money to invest and no electricty bills needed to be paid

[Bart31]

You are starting a new business? So I presume you're business will have to pay for the electricity. Doesn't that mean indirectly that YOU are paying your own electricity?

I suggest you would have a look at the ASICS. The hashrate of the cards you specify, 7970, do about 700Mhash. That is (with 3 cards) 2,1 Ghash/sec. That would do almost nothing compared to the ASIC miners which do 50-60Ghash.

And with the expected bitcoin hashrate to go up from 25THash right now to 150THas one month after the ASICS have come to the market, you're 7970 will do nothing anymore... not even a BTC a month!

If you have those cards right now, go for it. If you want to buy them, I wouldn't bet on it. Wrong investment with no ROI at all...

[chubzz]

We will be paying electricity yes, but that is included in the office price (400GBP a month) we then realised, we could make some ectra money BTC mining

How much will a ASICS rig set me back?

[Gabi]

A 60GH/s ASIC is like 1300$

[chubzz]

Okay these ones? http://store.avalon-asic.com/

If I was to get maybe 15 of these, would I profit quickly?

Thanks

[3btc]

Maybe but once those ASICs start mining the exchange rates probably take a dive at first...

[Phraust]

It's quite a gamble at this point, no one really knows what's going to happen after the reward drop and ASIC release.  Lots of speculation, but in the end you are really just flipping a coin.

I gambled when FPGAs were released (with Butterfly Labs), and that carried through to their ASICs with their upgrade program.  If I wasn't already bought-in, I'd probably wait a while till the smoke clears.  Early adopters are most likey to make any kind of profit early on (if at all), and it's just too late in the game at this point.

Tinker with the software and what you've got, learn how it works, but try not to invest too heavily (my two cents).

[chubzz]

Hmm okay thanks for the replys, how much BTC do you think you would make an hour with a ASIC rig?

Cheers

[MinorMiner]

http://bitcoinx.com/profit/

Punch some numbers into that and play around with the ideas.

Edit: Don't forget the block reward will halve soon too! (25 coins/block)

[chubzz]

I thnik I typed something wrong..

Hardware break even: 4 years, 296 days
Net profit first time frame: -741.04 USD

To start off I will get a

BitForce Single 'SC'  60 GH/s  -  $1,299

Note; I do NOT have to pay for electricity, how much do you think I would make? Pretty sure im doing something wrong with that site

cheers

[Fiyasko]

Dont wanna wait? Buy FPGA's
Can you Stickitout over the Massive difficulty jump, Huge amount of predorders and backedup lists? Get an ASIC.
It would be Horribly foolish to start a GPU farm, Mayaswell create a PCgaming café and run miners in the background 24/7

[chubzz]

Yeah I'm getting ASIC now, just trying to find out what profit I would make

[chubzz]

Anyone got any ideas?

BitForce Single 'SC'  60 GH/s  -  $1,299
Don't need to pay electricity..

[Ascension]

Anyone got any ideas?

BitForce Single 'SC'  60 GH/s  -  $1,299
Don't need to pay electricity..

I would recommend the bASIC 54 GH/s for $ 1,069.00

[cheebydi]

Anyone got any ideas?

BitForce Single 'SC'  60 GH/s  -  $1,299
Don't need to pay electricity..

I would recommend the bASIC 54 GH/s for $ 1,069.00

I would recommend reading up on the whole topic and spend atleast a day in the mining forum before you decide on anything.

You are asking really broad questions here, in the end mining with ASIC's is very risky. Don't invest what you can't afford to lose.