Profitability help...

[metz]

Hi All,

I am stuck trying to work out some costing, the power rating of an S7 is around 1300W but how much is that in kWh - is it 1300*24?
Energy in the UK is expensive and I highly doubt I would make a profit with this costs below:

Electricity -
Unit rate:
12p ($0.17) per kWh

Standing charge:
26p ($0.37) per day

VAT:
20%

Miner -
S7 power consumption:
1300W

Hardware Cost:
£700 ($1000)

If someone could help clear up my query about the kWh, that would be great

Thanks

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[cryptotore]

1000W = 1kW
1300W = 1.3kW
1.3kW*24hrs = 31.2kWh per 24 hrs.

And no, you won't make a profit with those rates :p

[metz]

1000W = 1kW
1300W = 1.3kW
1.3kW*24hrs = 31.2kWh per 24 hrs.

And no, you won't make a profit with those rates :p

Thank you... there goes another of my money making plans.

-£170 per month at the current exchange rate!
https://btcserv.net/bitcoin-mining-calculator?hashrate=4.5&hashrate_unit=tera&currency=GBP&difficulty=113354299801&block_value=25.00&btc_rate=280&watt=1300&kwh_cost=0.30&kwh_currency=GBP&hardware_cost=700&hardware_currency=GBP&pps=0.000000000088

[notlist3d]

Hi All,

I am stuck trying to work out some costing, the power rating of an S7 is around 1300W but how much is that in kWh - is it 1300*24?
Energy in the UK is expensive and I highly doubt I would make a profit with this costs below:

Electricity -
Unit rate:
12p ($0.17) per kWh

Standing charge:
26p ($0.37) per day

VAT:
20%

Miner -
S7 power consumption:
1300W

Hardware Cost:
£700 ($1000)

If someone could help clear up my query about the kWh, that would be great

Thanks

You have zero chance of making money at those rates, and vat ontop.  Just to darn high which I know stinks.

Your only chance is being able to use a data center.  Look out there and there are some good ones that will be 10 cents or less... so quite a bit of  savings vs you doing it yourself in this case.  And also you can pick one without vat... again saving money.  So I think a good hosting center is your only chance if you want to own gear.

[Amph]

at this point anything above 0.05 is not going to reach your roi anytime soon, probably never, diff is jumping too fast

you need to have the same rate as those big farm otherwise it is better to buy bitcoin directly

[Shibashi Dogemoto]

I usually go for:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

In your case:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860&p=1300.00&pc=0.17&pf=1.00&d=113354299801.47100000&r=25.00000000&er=394.90000000&hc=1000

My assumptions:
- you've got a batch 1, because specs seems to fluctuate a little bit between batches
- you mine on a pool with a 1% fee
- the 26p standing charge is something you have to pay anyways, so it's not included in the calculation.
- the VAT was already included in the price

Basically, the best case scenario

At current diff, price, block rewards, it'll take you about 1 year to ROI, that's way longer than the warranty, and with the diff rising, the price fluctuating and the rewards halving, you would be taking a risk...

[notlist3d]

I usually go for:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

In your case:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860&p=1300.00&pc=0.17&pf=1.00&d=113354299801.47100000&r=25.00000000&er=394.90000000&hc=1000

My assumptions:
- you've got a batch 1, because specs seems to fluctuate a little bit between batches
- you mine on a pool with a 1% fee
- the 26p standing charge is something you have to pay anyways, so it's not included in the calculation.

At current diff, price, block rewards, it'll take you about 1 year to ROI, that's way longer than the warranty, and with the diff rising, the price fluctuating and the rewards halving, you would be taking a risk...

This is not proving anything, saying if current difficulty stays.... you will ROI in a year.   We both know that will not happen so why do all this math with flawed same difficulty?

All we need to hear is .17 cent's.... he has no chance as far as mining a ROI.   No need to go deeper into it.

[Shibashi Dogemoto]

I usually go for:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator

In your case:
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860&p=1300.00&pc=0.17&pf=1.00&d=113354299801.47100000&r=25.00000000&er=394.90000000&hc=1000

My assumptions:
- you've got a batch 1, because specs seems to fluctuate a little bit between batches
- you mine on a pool with a 1% fee
- the 26p standing charge is something you have to pay anyways, so it's not included in the calculation.

At current diff, price, block rewards, it'll take you about 1 year to ROI, that's way longer than the warranty, and with the diff rising, the price fluctuating and the rewards halving, you would be taking a risk...

This is not proving anything, saying if current difficulty stays.... you will ROI in a year.   We both know that will not happen so why do all this math with flawed same difficulty?

All we need to hear is .17 cent's.... he has no chance as far as mining a ROI.   No need to go deeper into it.

this ^^ is why i added the last line in my post: "with the diff rising, the price fluctuating and the rewards halving, you would be taking a risk"

[metz]

Thank you for the valuable information... I will take a look into a hosted space in a data centre but I think it could still be more than the monthly return.

[Shibashi Dogemoto]

Thank you for the valuable information... I will take a look into a hosted space in a data centre but I think it could still be more than the monthly return.

I would defenately advice against running a miner if you pay 17 cents/Kwu... That was the point of my post. I took the bestcase scenario, and it would still take about a year to ROI if everything else stayed status-quo (and we know for sure that this will not happen, the block reward is due to halve in about 6 months?, the diff is steadily rising, the BTC price is having a little dip ATM,...).

Also, the warranty period for bitmain products is 90 days... That's about 25% of the time you'll need to ROI in the imaginary best case scenario...

I would personally say the limit for profitable mining would be around 6-7 cents...
http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=4860.00&p=1300.00&pc=0.07&pf=1.00&d=113354299801.47100000&r=25.00000000&er=394.90000000&hc=1000.00
@7 cents, it would take about 5-6 months to ROI at current conditions. That way you should have reached break-even around the time the block halving is happening. It's still risky, but acceptable.