21 cents per kw, Any way to mine?

[notlist3d]

The only profitable coin to mine at present is the Ethereum. But it is with GPU not any ASIC. If the price drops, it will not be profitable.

it dropped already i assume it's not proftibale anymore, since even without the drop the diff started to increase fast now with the drop it's done

The price of Ethereum is still high, around $5-6. So it is still profitable. If it drops to $3, it will not be profitable.

That is great... but long term GPU mining is still not alive with electricity price, and GPU prices.  Will you ROI on your GPU's?

Unless there is a chance of ROI I don't consider it profitable mining.  Just mining more then electricity.... is not enough for me.

If you can earn 20% profit each year as a business, you will be very happy. The problem with mining is that it is not sustainable.

This is not a regular business in mining terms 1 year is a LONG time.   Gear can change a lot within a single year, so I would argue a sucessful buisness needs to pull profit quicker, or sell machines off and get roi quicker.

Selling machines has helped by bottom line.  I have normal electricity price nothing secial.  So I mine as long as I can being profitable, keeping a eye on prices of gear on secondary markets.  I recently sold all last gen gear.... I invested in coins.  And eventually it will go back into machines.

[Zaun]

Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

[notlist3d]

Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.

[leowonderful]

Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.

A cheap way to earn temporary profit is to setup a trickling solar panel to a battery, and running a low power useage asic until power is gone, stopping asic, trickling again, etc.
You'll be negative for a while due to initial investment, and if at all you ROI, last gen gear will take you over a year to roi. Raspberry pi controllers aren't feasible with solar due to them dying when power is lost, so that cuts a lot of usbs out (which basically kills profit except for a few mining, "standalones". A BFL is great since their easyminer can be used on android). As you can see my method is useless because of the complications, so I now really think 21 cent kw IS TRULY IMPOSSIBLE.

[notlist3d]

Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.

A cheap way to earn temporary profit is to setup a trickling solar panel to a battery, and running a low power useage asic until power is gone, stopping asic, trickling again, etc.
You'll be negative for a while due to initial investment, and if at all you ROI, last gen gear will take you over a year to roi. Raspberry pi controllers aren't feasible with solar due to them dying when power is lost, so that cuts a lot of usbs out (which basically kills profit except for a few mining, "standalones". A BFL is great since their easyminer can be used on android). As you can see my method is useless because of the complications, so I now really think 21 cent kw IS TRULY IMPOSSIBLE.

This will not work for most.  Phil is a great example of it working and he teamed up with a expert in solar.   For most of us solar will cost more then cheap electricity.  Cheap electricity makes more sense for most.

And I don't think I have ever heard anyone mention BFL and great in same sentence before.

[leowonderful]

Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.

A cheap way to earn temporary profit is to setup a trickling solar panel to a battery, and running a low power useage asic until power is gone, stopping asic, trickling again, etc.
You'll be negative for a while due to initial investment, and if at all you ROI, last gen gear will take you over a year to roi. Raspberry pi controllers aren't feasible with solar due to them dying when power is lost, so that cuts a lot of usbs out (which basically kills profit except for a few mining, "standalones". A BFL is great since their easyminer can be used on android). As you can see my method is useless because of the complications, so I now really think 21 cent kw IS TRULY IMPOSSIBLE.

This will not work for most.  Phil is a great example of it working and he teamed up with a expert in solar.   For most of us solar will cost more then cheap electricity.  Cheap electricity makes more sense for most.

And I don't think I have ever heard anyone mention BFL and great in same sentence before.

I just like BFL for their easyminer app. I'm too lazy to use a usb to otg and actually compile cgminer and install crap. Truly BFL sucks and unless you're super desperate, don't buy it. The portability was the only reason, and I just like their heatsink for the jalapeno. I don't know many miners that can run on an android phone, so I just give them a +1 for usefullness (overseas much) and +1 for ingenuity, and -9000 for overpriced-ness and unreliability, and that doesnt include the late shipping.

[mirakal]

Right now it's hard to earn profit if you pay less then 10 cents.
Home mining is dead and the next step to centralization has already started.
It's just a matter of months before the game is over.

Home miner is getting harder and harder.  I consider myself a hobby miner slightly bigger then home with my mining area.   I had to get rid of last gen gear just as profit was to small, made far more selling them.

Will be intersting on what next gen gear costs, what difficulty does.  So many variables and not a lot of answers.

A cheap way to earn temporary profit is to setup a trickling solar panel to a battery, and running a low power useage asic until power is gone, stopping asic, trickling again, etc.
You'll be negative for a while due to initial investment, and if at all you ROI, last gen gear will take you over a year to roi. Raspberry pi controllers aren't feasible with solar due to them dying when power is lost, so that cuts a lot of usbs out (which basically kills profit except for a few mining, "standalones". A BFL is great since their easyminer can be used on android). As you can see my method is useless because of the complications, so I now really think 21 cent kw IS TRULY IMPOSSIBLE.

21 cent per kWh is not suitable for mining Bitcoin. But for the time being, it is OK to mine Ethereum.

[Dassi]

Iv been looking at mining for a while now but as you can see i pay quite high electricity fees. Ive done mining in the past with gpu but have always wanted to start btc mining. Is this even possible with such high electricity costs? Im even open to mining ltc and then converting to btc but maybe id just be as well buying any btc with flat?

Why don't you look for a cheaper source of electricity like solar panels for instance. Mining consumes lots of electricity as you know.

[n691309]

In my country, the electricity costs cheaper when it is the summer season so at that time the profit is higher comparing to winter season which the price is double but 21 cents is much higher than in my country but i think you should have the latest mining rigs to get most of it.

[apriyoni]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

[leowonderful]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

Ether mining is unprofitable at 21c/kwh, i believe. even at this high price, ethereum is still not the way to go. the only way to mine is at a loss or with solar panels, which will probably be unprofitable in the end.  Even with panels it's likely you'll only be able to support a small rig. I suggest buying bitcoins and holding for profit, it's basically the only way for profit with high electricity.

[notlist3d]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

But add up cost of 6 GPU rig with nice GPU's.... it's pricey.  Do you believe enough in a in a alt this much?   Could be a 2 grand guess depending on cards.   I personally sold most of my GPU's long ago and worked out well.  I am hesitant to spend big and build nice rigs on a alt currently.  Compare to S7 coupon price, its a much higher investment.

And really you should not be mining anything at 21 cents.  This thread is all about that your killing your ROI by mining with such high electricity price.

[Amph]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

But add up cost of 6 GPU rig with nice GPU's.... it's pricey.  Do you believe enough in a in a alt this much?   Could be a 2 grand guess depending on cards.   I personally sold most of my GPU's long ago and worked out well.  I am hesitant to spend big and build nice rigs on a alt currently.  Compare to S7 coupon price, its a much higher investment.

And really you should not be mining anything at 21 cents.  This thread is all about that your killing your ROI by mining with such high electricity price.

a six gpu right cost you around 2500-3000 max, this is 5 antminer s7 right?

but you need to compare also the consumption

5 antminer consume 6kw, against 1kw for the six gpu miner, 5 antimer s7 earn you around 0.07, a sig gpu miner earn you the same basically(2 ethereum a day= 0.058)

[apriyoni]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

But add up cost of 6 GPU rig with nice GPU's.... it's pricey.  Do you believe enough in a in a alt this much?   Could be a 2 grand guess depending on cards.   I personally sold most of my GPU's long ago and worked out well.  I am hesitant to spend big and build nice rigs on a alt currently.  Compare to S7 coupon price, its a much higher investment.

And really you should not be mining anything at 21 cents.  This thread is all about that your killing your ROI by mining with such high electricity price.

a six gpu right cost you around 2500-3000 max, this is 5 antminer s7 right?

but you need to compare also the consumption

5 antminer consume 6kw, against 1kw for the six gpu miner, 5 antimer s7 earn you around 0.07, a sig gpu miner earn you the same basically(2 ethereum a day= 0.058)

For the time being, it is very profitable for GPU mining of the Etheruem. If it becomes not profitable, you can sell the cards.

[notlist3d]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

But add up cost of 6 GPU rig with nice GPU's.... it's pricey.  Do you believe enough in a in a alt this much?   Could be a 2 grand guess depending on cards.   I personally sold most of my GPU's long ago and worked out well.  I am hesitant to spend big and build nice rigs on a alt currently.  Compare to S7 coupon price, its a much higher investment.

And really you should not be mining anything at 21 cents.  This thread is all about that your killing your ROI by mining with such high electricity price.

a six gpu right cost you around 2500-3000 max, this is 5 antminer s7 right?

but you need to compare also the consumption

5 antminer consume 6kw, against 1kw for the six gpu miner, 5 antimer s7 earn you around 0.07, a sig gpu miner earn you the same basically(2 ethereum a day= 0.058)

For the time being, it is very profitable for GPU mining of the Etheruem. If it becomes not profitable, you can sell the cards.

This is true but I just have trouble going back to GPU, and it could just be a personal thing.  I can remember selling off my rigs before when I stopped GPU mining a ways back..... that is a good amount of ebay sales.  So you counting on a lot of good buyers and not crap ones, not to mention dealing with low ball offers, shipping, etc.   

If Etheruem has problems and you do need to sell, you also compete against all the others getting out of mining it.  That is part I really don't like.  A LOT left gpu mining around the same time with asics and you were selling cards cheaper due to volume of sellers.   So .... again not fun.

Also GPU time I had to babysit a lot more then I do with my asics.  I have had some asics hit a month + without me touching them.  I had a lot more time then this monitoring my GPU rigs.

I'm not saying I won't try it if I see a long term mining, that I can believe in.  But I'm not to that point yet personally.

[Amph]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

But add up cost of 6 GPU rig with nice GPU's.... it's pricey.  Do you believe enough in a in a alt this much?   Could be a 2 grand guess depending on cards.   I personally sold most of my GPU's long ago and worked out well.  I am hesitant to spend big and build nice rigs on a alt currently.  Compare to S7 coupon price, its a much higher investment.

And really you should not be mining anything at 21 cents.  This thread is all about that your killing your ROI by mining with such high electricity price.

a six gpu right cost you around 2500-3000 max, this is 5 antminer s7 right?

but you need to compare also the consumption

5 antminer consume 6kw, against 1kw for the six gpu miner, 5 antimer s7 earn you around 0.07, a sig gpu miner earn you the same basically(2 ethereum a day= 0.058)

For the time being, it is very profitable for GPU mining of the Etheruem. If it becomes not profitable, you can sell the cards.

This is true but I just have trouble going back to GPU, and it could just be a personal thing.  I can remember selling off my rigs before when I stopped GPU mining a ways back..... that is a good amount of ebay sales.  So you counting on a lot of good buyers and not crap ones, not to mention dealing with low ball offers, shipping, etc.  

If Etheruem has problems and you do need to sell, you also compete against all the others getting out of mining it.  That is part I really don't like.  A LOT left gpu mining around the same time with asics and you were selling cards cheaper due to volume of sellers.   So .... again not fun.

Also GPU time I had to babysit a lot more then I do with my asics.  I have had some asics hit a month + without me touching them.  I had a lot more time then this monitoring my GPU rigs.

I'm not saying I won't try it if I see a long term mining, that I can believe in.  But I'm not to that point yet personally.

with bitcoin asic it's the same you're competing every 3 months with the other asic, before your is obsolete again, there is only a small window of profit with bitcoin, from when the miner are available

the good thing about gpu is that they do not depreciate so quickly like asic sha256 or any asic if anything

[leowonderful]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

But add up cost of 6 GPU rig with nice GPU's.... it's pricey.  Do you believe enough in a in a alt this much?   Could be a 2 grand guess depending on cards.   I personally sold most of my GPU's long ago and worked out well.  I am hesitant to spend big and build nice rigs on a alt currently.  Compare to S7 coupon price, its a much higher investment.

And really you should not be mining anything at 21 cents.  This thread is all about that your killing your ROI by mining with such high electricity price.

a six gpu right cost you around 2500-3000 max, this is 5 antminer s7 right?

but you need to compare also the consumption

5 antminer consume 6kw, against 1kw for the six gpu miner, 5 antimer s7 earn you around 0.07, a sig gpu miner earn you the same basically(2 ethereum a day= 0.058)

For the time being, it is very profitable for GPU mining of the Etheruem. If it becomes not profitable, you can sell the cards.

This is true but I just have trouble going back to GPU, and it could just be a personal thing.  I can remember selling off my rigs before when I stopped GPU mining a ways back..... that is a good amount of ebay sales.  So you counting on a lot of good buyers and not crap ones, not to mention dealing with low ball offers, shipping, etc.  

If Etheruem has problems and you do need to sell, you also compete against all the others getting out of mining it.  That is part I really don't like.  A LOT left gpu mining around the same time with asics and you were selling cards cheaper due to volume of sellers.   So .... again not fun.

Also GPU time I had to babysit a lot more then I do with my asics.  I have had some asics hit a month + without me touching them.  I had a lot more time then this monitoring my GPU rigs.

I'm not saying I won't try it if I see a long term mining, that I can believe in.  But I'm not to that point yet personally.

with bitcoin asic it's the same you're competing every 3 months with the other asic, before your is obsolete again, there is onyl a small window of profit with bitcoin, from when the miner are available

the good thing about gpu is that they do not depreciate so quickly like asic sha256 or any asic if anything

The only problem is that a GPU is not built to be at near 100% load for extended periods of time, and often what happens is over a period of a month, even well-cooled gpus will start having the effects of heat and components will begin to degrade. I've had a dead R9 270X once mining ethereum for only 2 months. Thus most people buying gpus ask what it was used for if they're buying used gpus, and most people are unwilling to buy gpus used for mining as they know mining will shorten a gpu's life drastically. Unless the buyer is really desperate, few people will buy a used mining gpu as the wear can get pretty bad mining ethereum and other altcoin.

[Amph]

Even with S7, he would lose money at 21 cent/kWh. He could have made some money by mining Ethereum.

But add up cost of 6 GPU rig with nice GPU's.... it's pricey.  Do you believe enough in a in a alt this much?   Could be a 2 grand guess depending on cards.   I personally sold most of my GPU's long ago and worked out well.  I am hesitant to spend big and build nice rigs on a alt currently.  Compare to S7 coupon price, its a much higher investment.

And really you should not be mining anything at 21 cents.  This thread is all about that your killing your ROI by mining with such high electricity price.

a six gpu right cost you around 2500-3000 max, this is 5 antminer s7 right?

but you need to compare also the consumption

5 antminer consume 6kw, against 1kw for the six gpu miner, 5 antimer s7 earn you around 0.07, a sig gpu miner earn you the same basically(2 ethereum a day= 0.058)

For the time being, it is very profitable for GPU mining of the Etheruem. If it becomes not profitable, you can sell the cards.

This is true but I just have trouble going back to GPU, and it could just be a personal thing.  I can remember selling off my rigs before when I stopped GPU mining a ways back..... that is a good amount of ebay sales.  So you counting on a lot of good buyers and not crap ones, not to mention dealing with low ball offers, shipping, etc.  

If Etheruem has problems and you do need to sell, you also compete against all the others getting out of mining it.  That is part I really don't like.  A LOT left gpu mining around the same time with asics and you were selling cards cheaper due to volume of sellers.   So .... again not fun.

Also GPU time I had to babysit a lot more then I do with my asics.  I have had some asics hit a month + without me touching them.  I had a lot more time then this monitoring my GPU rigs.

I'm not saying I won't try it if I see a long term mining, that I can believe in.  But I'm not to that point yet personally.

with bitcoin asic it's the same you're competing every 3 months with the other asic, before your is obsolete again, there is onyl a small window of profit with bitcoin, from when the miner are available

the good thing about gpu is that they do not depreciate so quickly like asic sha256 or any asic if anything

The only problem is that a GPU is not built to be at near 100% load for extended periods of time, and often what happens is over a period of a month, even well-cooled gpus will start having the effects of heat and components will begin to degrade. I've had a dead R9 270X once mining ethereum for only 2 months. Thus most people buying gpus ask what it was used for if they're buying used gpus, and most people are unwilling to buy gpus used for mining as they know mining will shorten a gpu's life drastically. Unless the buyer is really desperate, few people will buy a used mining gpu as the wear can get pretty bad mining ethereum and other altcoin.

you can send them back for free, amazon can cover your ass for one month, for free, this is true for asic also, bought from them, that's why i order everythign from amazon, not to mention the retailer can cover you for two years

[mirakal]

The only problem is that a GPU is not built to be at near 100% load for extended periods of time, and often what happens is over a period of a month, even well-cooled gpus will start having the effects of heat and components will begin to degrade. I've had a dead R9 270X once mining ethereum for only 2 months. Thus most people buying gpus ask what it was used for if they're buying used gpus, and most people are unwilling to buy gpus used for mining as they know mining will shorten a gpu's life drastically. Unless the buyer is really desperate, few people will buy a used mining gpu as the wear can get pretty bad mining ethereum and other altcoin.

If you keep the temperature below 75c, will they die so easily? I have a few 7990 mining at 70c for two years.

[5h4do3]

Dam I think I should start a mining hosting farm...
thats not hosted in china you know to keep it decentralized


Guess im lucky here...

electric $0.06 from the service providers
$0.05 direct from the main power supplier.

and if we go solar.... <drum roll> 8hrs of sunlight in winter and 12 hours in summer.... hmmmm

 

Now capital that's the problem *sigh*