New Mining Farm

[Raimonn]

Just buy some BTC and hold it.

Thanks for the advice , however this method relies solely on speculation , and I see more potential in the mining sector , as at the current rate of 25 BTC for every 10 mins , it will take another 3.8 years untill all the possible bitcoins are mined .

By the way , will the processing fees will be enough to sustain the existence of the bitcoin miners once all the bitcoins are mined and there is nothing else to mine . Assuming the Bitcoin doesn't fail in the meantime , will the processing fees cover the expenses of miners or would they be able to make any kind of profit ?

Your electricity cost is very high to run a minning farm. And before investing on bitcoin minning its better that you learn more about bitcoin. Now 25 btc are minned on average time of 10 mins, in only 6 month this reward will be half (the bitcoin halving event), and another halving on 4 years... Also you need to know about difficulty, if it increases you will need more hash power to find a block.

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[GreatNorthData]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

[mitkala]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

Do you think it will be profitable for you after the block halving? The difficulty is rising too fast. If the CAD increase in value against USD, you might make a loss.

[ObscurePen]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

Do you think it will be profitable for you after the block halving? The difficulty is rising too fast. If the CAD increase in value against USD, you might make a loss.

I think that the major factor of profitability of mining after the block halving is the price of bitcoin. If bitcoin does not rise, or actually drops, it basically means that mining revenue will instantly halve!

[notlist3d]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

Do you think it will be profitable for you after the block halving? The difficulty is rising too fast. If the CAD increase in value against USD, you might make a loss.

I think that the major factor of profitability of mining after the block halving is the price of bitcoin. If bitcoin does not rise, or actually drops, it basically means that mining revenue will instantly halve!

Another big thing is the actual mining gear.  Assuming next gen on most companies comes out before or soon after having, they might be a decent factor.   Efficiency is a big deal already for a lot of miners, and will only become bigger.

Right now kinda hard to say with difficulty looking high right now.

[Wandika]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

Do you think it will be profitable for you after the block halving? The difficulty is rising too fast. If the CAD increase in value against USD, you might make a loss.

I think that the major factor of profitability of mining after the block halving is the price of bitcoin. If bitcoin does not rise, or actually drops, it basically means that mining revenue will instantly halve!

Another big thing is the actual mining gear.  Assuming next gen on most companies comes out before or soon after having, they might be a decent factor.   Efficiency is a big deal already for a lot of miners, and will only become bigger.

Right now kinda hard to say with difficulty looking high right now.

I heard the 16nm will come out in March or April. So the difficulty will rise a lot before the halving.

[GreatNorthData]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

Do you think it will be profitable for you after the block halving? The difficulty is rising too fast. If the CAD increase in value against USD, you might make a loss.

Yes. And CAD isn't going back to parity anytime soon...

[Amph]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

Do you think it will be profitable for you after the block halving? The difficulty is rising too fast. If the CAD increase in value against USD, you might make a loss.

I think that the major factor of profitability of mining after the block halving is the price of bitcoin. If bitcoin does not rise, or actually drops, it basically means that mining revenue will instantly halve!

Another big thing is the actual mining gear.  Assuming next gen on most companies comes out before or soon after having, they might be a decent factor.   Efficiency is a big deal already for a lot of miners, and will only become bigger.

Right now kinda hard to say with difficulty looking high right now.

I heard the 16nm will come out in March or April. So the difficulty will rise a lot before the halving.

it depend on the efficiency, bears in mind that the efficenty is going toward the minimum already, this means that there is no more real gain from it

we have already a consumption of $45 per month at 0.05 per kw/h, even half of that it will not impact so much the maximum margin that miners have, and the halving will kill it anyway

[Wandika]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

Do you think it will be profitable for you after the block halving? The difficulty is rising too fast. If the CAD increase in value against USD, you might make a loss.

I think that the major factor of profitability of mining after the block halving is the price of bitcoin. If bitcoin does not rise, or actually drops, it basically means that mining revenue will instantly halve!

Another big thing is the actual mining gear.  Assuming next gen on most companies comes out before or soon after having, they might be a decent factor.   Efficiency is a big deal already for a lot of miners, and will only become bigger.

Right now kinda hard to say with difficulty looking high right now.

I heard the 16nm will come out in March or April. So the difficulty will rise a lot before the halving.

it depend on the efficiency, bears in mind that the efficenty is going toward the minimum already, this means that there is no more real gain from it

we have already a consumption of $45 per month at 0.05 per kw/h, even half of that it will not impact so much the maximum margin that miners have, and the halving will kill it anyway

Do you mean even the 16 nm will not ROI easily if the price is the same and halving will cut the revenue by half?

[Amph]

If you wanted to host S7s with us in Canada it would be 7 cents/kwh. We can provide references and everything else you need, we're coming up on our third anniversary in April.

Email me james@greatnorthdata.com

Do you think it will be profitable for you after the block halving? The difficulty is rising too fast. If the CAD increase in value against USD, you might make a loss.

I think that the major factor of profitability of mining after the block halving is the price of bitcoin. If bitcoin does not rise, or actually drops, it basically means that mining revenue will instantly halve!

Another big thing is the actual mining gear.  Assuming next gen on most companies comes out before or soon after having, they might be a decent factor.   Efficiency is a big deal already for a lot of miners, and will only become bigger.

Right now kinda hard to say with difficulty looking high right now.

I heard the 16nm will come out in March or April. So the difficulty will rise a lot before the halving.

it depend on the efficiency, bears in mind that the efficenty is going toward the minimum already, this means that there is no more real gain from it

we have already a consumption of $45 per month at 0.05 per kw/h, even half of that it will not impact so much the maximum margin that miners have, and the halving will kill it anyway

Do you mean even the 16 nm will not ROI easily if the price is the same and halving will cut the revenue by half?

it's possible yes

since if we assume 2x efficient over current asic generation, versus that halving, it will not be so different than mining with s7 right now

but i think there will be a small time frame where these new asic will be very profitable, then you simply sell them fast after the halving and wait for th next technology, repeat

[QuintLeo]

the local power rate in my area is around 0.22 USD/KWh .

 Forget mining. You will NEVER achieve RoI, and it's iffy if you'll ever see any profit at all, at THAT VERY HIGH power cost.

 Take a serious look at hosting and cloud mining.

 Even when the 14/16nm generation shows up, it's VERY VERY IFFY that you'll ever have a prayer at RoI when you're feeding so much to the power company.


 Difficulty might settle down some after the halfing, when a lot of existing hardware for most folks goes unprofitable and folks start shutting older stuff down - but I doubt it'll drop permanently, more likely a short-term dip (possibly semi-deep) then start climbing again as the Big Farms get their next-gen upgrades online and keep growing their hashrate.

[mitkala]

When the summer comes, some of the miners will be switched off because of the high temperature. Some of them are on just to produce heat.

[philipma1957]

This is my first topic on this forum , and I am seriously thinking to start a small Bitcoin mining farm , and I have around 30k USD to invest in this venture . Would you consider this investment a good one , considering the current developments in the bitcoin industry as well as the fact that the local power rate in my area is around 0.22 USD/KWh .

I am interested in either the Antminer S7 or the Uranus Miner 6.0 TH/s .

Any tips on how to buy the equipment at a lower price , or cheaper setup alternatives , if any .  

Thanks for your support .

at 22 cents you can't make money.

I struggle at 9.7 cents winter prices for power


In the late spring power goes to 18 cents and I simply do not mine in my house from May 1 to Oct 1

Find cheaper power.

[notlist3d]

This is my first topic on this forum , and I am seriously thinking to start a small Bitcoin mining farm , and I have around 30k USD to invest in this venture . Would you consider this investment a good one , considering the current developments in the bitcoin industry as well as the fact that the local power rate in my area is around 0.22 USD/KWh .

I am interested in either the Antminer S7 or the Uranus Miner 6.0 TH/s .

Any tips on how to buy the equipment at a lower price , or cheaper setup alternatives , if any .  

Thanks for your support .

at 22 cents you can't make money.

I struggle at 9.7 cents winter prices for power


In the late spring power goes to 18 cents and I simply do not mine in my house from May 1 to Oct 1

Find cheaper power.

I am hoping some hosting centers will open with cheap power.  This difficulty is a big push twords cheap electricity.  I think we can call Febuary the month of the unexpected having.  On the 7th we had a change of 20+ and in 3 day's or so we get 15-20, and add even one more 10-15 change.... we have haved proits of mining in one month... which I still find crazy.

Follow cheap electricity is about as good as advice as we can give.

[mitkala]

This is my first topic on this forum , and I am seriously thinking to start a small Bitcoin mining farm , and I have around 30k USD to invest in this venture . Would you consider this investment a good one , considering the current developments in the bitcoin industry as well as the fact that the local power rate in my area is around 0.22 USD/KWh .

I am interested in either the Antminer S7 or the Uranus Miner 6.0 TH/s .

Any tips on how to buy the equipment at a lower price , or cheaper setup alternatives , if any .  

Thanks for your support .

at 22 cents you can't make money.

I struggle at 9.7 cents winter prices for power


In the late spring power goes to 18 cents and I simply do not mine in my house from May 1 to Oct 1

Find cheaper power.

My electricity price is $0.24/kWh. I mine just to generate some heat to make my room warm. I will stop in the summer.

[notlist3d]

This is my first topic on this forum , and I am seriously thinking to start a small Bitcoin mining farm , and I have around 30k USD to invest in this venture . Would you consider this investment a good one , considering the current developments in the bitcoin industry as well as the fact that the local power rate in my area is around 0.22 USD/KWh .

I am interested in either the Antminer S7 or the Uranus Miner 6.0 TH/s .

Any tips on how to buy the equipment at a lower price , or cheaper setup alternatives , if any .  

Thanks for your support .

at 22 cents you can't make money.

I struggle at 9.7 cents winter prices for power


In the late spring power goes to 18 cents and I simply do not mine in my house from May 1 to Oct 1

Find cheaper power.

My electricity price is $0.24/kWh. I mine just to generate some heat to make my room warm. I will stop in the summer.

What miner are you using to do this?  Man... at .24 cents I'm not sure I would use a bitcoin miner as heat. 

That is a pretty extreme electricity to attempt to mine with even during winter.

[Amph]

This is my first topic on this forum , and I am seriously thinking to start a small Bitcoin mining farm , and I have around 30k USD to invest in this venture . Would you consider this investment a good one , considering the current developments in the bitcoin industry as well as the fact that the local power rate in my area is around 0.22 USD/KWh .

I am interested in either the Antminer S7 or the Uranus Miner 6.0 TH/s .

Any tips on how to buy the equipment at a lower price , or cheaper setup alternatives , if any .  

Thanks for your support .

at 22 cents you can't make money.

I struggle at 9.7 cents winter prices for power


In the late spring power goes to 18 cents and I simply do not mine in my house from May 1 to Oct 1

Find cheaper power.

My electricity price is $0.24/kWh. I mine just to generate some heat to make my room warm. I will stop in the summer.

i would suggest you to mine ethereum instead at 0.24 is still profitable, i know because i have similar electricity cost

so you can heat your room and have a small profit, depend on the gpu, 280x seems the best for ETH

[mrhelpful]

Op, if you really want to make a return.

Why not just partner up with a smaller known mining pool and agree on some terms with them to add more performance.

Its way better then to go against someone, esp when they been known for 2 years minimum like most and have to re-market yourself etc.