Is it worth it?...

[olliewe88]

Hello,

I am very new to this so please be patient if I do not under stand first time 

So if my electric is at 3168KWH at 13.1p. Would I make money if I had one BITMAIN ANTMINER S3+ Bitcoin Miner 481GH/S +/-5% BTC ASIC Miner.

Hopefully this question is not to hard!!

Thanks,
Ollie

[achow101]

No. Your electricity must be much much lower in order to make any sort of profit and an S3 does not provide enough hash power. You will need several Th/s in order to see any significant revenue from mining.

[olliewe88]

Thank you,

What would be the easiest way to go then to get enough Th/s?

[achow101]

Thank you,

What would be the easiest way to go then to get enough Th/s?

Buy a more recent hardware such as the Antminer S9, which provides ~12 Th/s. However your electricity costs are too high and you will be mining at a loss. I do not know of any more energy efficient hardware than the S9.

[Erumara]

Thank you,

What would be the easiest way to go then to get enough Th/s?

Buy a more recent hardware such as the Antminer S9, which provides ~12 Th/s. However your electricity costs are too high and you will be mining at a loss. I do not know of any more energy efficient hardware than the S9.

S9 is the most efficient miner available to the public by a long shot.
FYI if your electricity cost is higher than $0.10 USD/kWH it's a waste of your time to even consider mining.

The chinese miners likely pay <$0.03 USD/kWH, if you can't beat that price you will likely never see a return on your investment.

[leowonderful]

At your electricity rate, you're going to need lots of current generation hashpower; I recommend the S9, as the S7 will probably rip you. With electricity at your rate, it's not going to bring you profit anyways. Mining is a competitive thing, and you need the cheapest possible electricity to even get in. Chinese miners often get nearly free electricity. Most people will say that it's near impossible to get ROI even on S9s, but it can be possible with a low enough electricity rate and good cooling; at your rate, it's going to be near impossible to get even anything. I suggest either moving and getting cheaper electricity, or trading for BTC; mining is out of the question.

[talks_cheep]

Do you want to live in a castle?

Do you want to drive a Ferrari?

Do you want to go home and bang a big bosom blonde wife?

If you answer yes to 2 of the 3 questions above, then go right ahead and start mining!

[Das]

Do you want to live in a castle?

Do you want to drive a Ferrari?

Do you want to go home and bang a big bosom blonde wife?

If you answer yes to 2 of the 3 questions above, then go right ahead and start mining!

Oh my goodness! Please do not listen to this guy.
Buy Bitmain's newest release, it has the lowest electricity consumption of all their products
.
.
.
Provided you do not spend more than $0.10/kwh

[Tupsu]

Oh my goodness! Please do not listen to this guy.
Buy Bitmain's newest release, it has the lowest electricity consumption of all their products
.
.
.
Provided you do not spend more than $0.10/kwh

Stop lying. For you in red.

ANTMINER R4

    Hash Rate 8.6TH/s (Variation of ±5% is expected)
    Power Consumption 845W +9% at the wall (with Bitmain’s APW5 PSU, 93% efficiency, 25°C ambient temp)
    Power Efficiency 0.1 J/GH +9% at the wall (with Bitmain’s APW5 PSU, 93% efficiency, 25°C ambient temp)
    Noise level 52dB (at an ambient temperature of 35°C)
    Chip quantity per unit 126 x BM1387
    Rated Voltage 11.60 ~13.00V
    Product size 515mm (L) x 100mm (W) x 222mm (H)
    Package size 610mm (L) x 215mm (W) x 340mm (H)
    Operating Temperature 0°C to 40°C
    Network Connection Ethernet
    Default Frequency 600MHz

ANTMINER S9-B13, 12.93 TH/s
S9 Specifications:

1. Hash Rate: 12.93TH/s ±5%
2. Power Consumption: 1275W + 7% (at the wall, with APW3 ,93% efficiency, 25C ambient temp)
3. Power Efficiency: 0.098 J/GH + 7%(at the wall, with APW3 93% efficiency, 25°C ambient temp)
4. Rated Voltage: 11.60 ~13.00V
5. Chip quantity per unit: 189x BM1387
6. Dimensions: 350mm(L)*135mm(W)*158mm(H)
7. Cooling: 2x 12038 fan
8. Operating Temperature: 0 °C to 40 °C
9. Network Connection: Ethernet
10. Default Frequency: 600M