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Author Topic: What would you do?  (Read 1420 times)
Auponef
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February 18, 2016, 07:21:07 PM
 #21

Hi
I have access to somehow cheap electricity ranging from 0.006 to 0.015 usd cents per Kwh
and am thinking of starting some mining biz if it is worth it.
what would you do?


It depends on how much total power you have. If you have 10 kW or more, maybe it is OK to start mining. Otherwise, not worth your effort.
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Witrebel
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February 19, 2016, 01:52:56 AM
 #22

Word of advice,  do your legwork FIRST.

I had/have access to power <0.001$/kWh.  Gold mine right?  WRONG.

Okay what could go wrong? Well as others said do you have the wiring/service capacity for any sizeable amperage? Yes? GREAT....

Not so simple... Is it 120v only? Can you run 240v?  This affects your infrastructure costs and PSU choices.

Got power all figured out? Lets make some $$$$$.

Not so fast... You stick 10kw of any hashing equipment in an enclosed space, and best case scenario the gear has safe thermal shutdown, now you see your gear thermal cycling over and over because the room is too hot.  Worst case, you have a fire.

This isn't to insult your intelligence or capability.  But I learned the hard way that simply having access to cheap power and having capital to buy the hashing gear does not mean you will succeed.  The infrastructure, setup, lead time, shipping costs, it all factors in.  Cooling capacity (really think more in terms of rejecting/venting heat, not cooling), and power capacity are big factors.  

Do your homework, cross all your T's, dot the I's, then go back and proof read ALL your work, and then pull the trigger.  PM me if you want.
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February 19, 2016, 05:15:22 AM
 #23

Word of advice,  do your legwork FIRST.

I had/have access to power <0.001$/kWh.  Gold mine right?  WRONG.

Okay what could go wrong? Well as others said do you have the wiring/service capacity for any sizeable amperage? Yes? GREAT....

Not so simple... Is it 120v only? Can you run 240v?  This affects your infrastructure costs and PSU choices.

Got power all figured out? Lets make some $$$$$.

Not so fast... You stick 10kw of any hashing equipment in an enclosed space, and best case scenario the gear has safe thermal shutdown, now you see your gear thermal cycling over and over because the room is too hot.  Worst case, you have a fire.

This isn't to insult your intelligence or capability.  But I learned the hard way that simply having access to cheap power and having capital to buy the hashing gear does not mean you will succeed.  The infrastructure, setup, lead time, shipping costs, it all factors in.  Cooling capacity (really think more in terms of rejecting/venting heat, not cooling), and power capacity are big factors.  

Do your homework, cross all your T's, dot the I's, then go back and proof read ALL your work, and then pull the trigger.  PM me if you want.


There is a lot of initial setup costs for a mining area.  That includes wiring, cooling, etc.   But the good thing is a lot of these are one time buy's and you can just replace miners with new generations.

On fire use proper guage wiring is best advice.  If you do most gear should also have a shutdown at a certain temp.  So between those two you should avoid gear as you will be actively cooling it if it's that hot.   

Just start small and grow is my best advice.  I know on cooling I had to keep tinkering till I was happy during summer.   It took a professional gable fan before I was was happy with exhust.  So it can be some tinkering on best setup for you.
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February 19, 2016, 05:44:26 AM
 #24

There is a lot of initial setup costs for a mining area.  That includes wiring, cooling, etc.   But the good thing is a lot of these are one time buy's and you can just replace miners with new generations.

On fire use proper guage wiring is best advice.  If you do most gear should also have a shutdown at a certain temp.  So between those two you should avoid gear as you will be actively cooling it if it's that hot.   

Just start small and grow is my best advice.  I know on cooling I had to keep tinkering till I was happy during summer.   It took a professional gable fan before I was was happy with exhust.  So it can be some tinkering on best setup for you.

Notlist3d is right, the cost of entry for a mining area isn't prohibitive, wiring, PSU's, etc are all (should be if done right) a one time buy.

I just wanted to emphasize that cheap power is only a portion of the battle, albeit a very important one in the long run.

You don't want to get into a situation where you sink alot of money into hashing gear without a proper plan to power it and deal with the heat. 

If you can square away those two things, you are probably going to make some nice coin.

Especially if you can execute your plan quickly.  One thing I have noticed is that in this industry, timing is critical.
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