Solar power Setup service for Indian Bitcoin Miners!

[Chandu141]

Hello To all Indians on BCT,

Those who are mining and planning to mine in INDIA, there are Three major Points to consider...

1. Location
2. Electricity
3. Tax

Let me elaborate these three factors.

1. Location : While choosing the location for mining (I am not talking about miners with one or two ASIC machines) bitcoin miner must choose the right private location for better mining process. You are the only person to decide on this factor.

2. Electricity : This is anyway expansive for mining bitcoin in India. The average cost per Unit is 8 rupees (average of high stab rates).
So mining with AntMiner S9 at a rate of 12.5Th, with investment of 2000$ USD / 1,35,000 Rupees you will be spending at least 35kWh electricity per one day/24 hours which makes about  280 rupees and your bitcoin production will be about 500 rupees per day roughly and excluding electricity cost, you are left with 220 rupees.
Calculation per 1 Year will be...
1,50,000 rupees of bitcoin generated and excluding 1,25,000 rupees of electricity expanses, you are left with 25,000 rupees per year.
Calculation per 2 Year will be...
2,40,000 rupees of bitcoin generated and excluding 2,50,000 rupees of electricity expanses, you are left with a debt of 10,000 rupees per year.  

You are actually mining bitcoin on loss or in practical, you will not reach the pay back period with the volatility/upward difficulty rate.

3. Tax : there is nothing much to explain about the Tax rates and anyway you don't need to worry much about it as you are not going to make any profits or income.


So now the question is, Is it profitable mining Bitcoin in India??

The answer is yes it is, it may be slow and totally long term process, With the solar power system one can reach the pay back period and generate profits.  

Okay now lets come to the question How it will be profit mining a bitcoin in India...
The answer is "Solar power"
Yea, using the solar power one can mine a bitcoin and reach the pay back period and then profits.
The Sun god has no holiday and the solar power can be generated every day at least 12 hours per day.  

Lets calculate the profitability with solar power.

Again we are going to mine with AntMiner S9 at a rate of 12.5Th, with investment of 2000$ USD + extra 15,000$ USD for Solar plantation (Total of 11,14,000 rupees).
So you will be spending at least 35kWh electricity per one day/24 hours which makes about  0.00 rupees and your bitcoin production will be about 500 rupees per day roughly and excluding electricity cost, you are left with total of 500 rupees (exactly what you have just mined on that day).
Calculation per 1 Year will be...
1,50,000 rupees of bitcoin generated and excluding 0.00 rupees of electricity expanses, you are left with a total of 1,50,000 rupees per year.  
Calculation per 2 Year will be...
2,40,000 rupees of bitcoin generated and excluding 0.00 rupees of electricity expanses, you are left with a a total of 2,40,000 rupees per year.
when there is a profit, one should continue mining..

Remember that there will be upward and downward changes in Bitcoin difficulty, Conversion rate (USD/BTC), and Profitability decline rate.
of course , here we do not need to worry about the electricity rates.

So Think wise and invest on mining Bitcoin..

Hope this will help some in getting answers about how mining bitcoin in India.


Anyone interested in Solar Power installation from anywhere India, Please drop a message.


Thanks.

[1713924049]

1713924049

[eaLiTy]

The electricty charges are quite high and it is not profitable if you are mining with a small pool ,so i would like to know the details regaring your solar ,is it a registered company and is it possible to get a subsidy as i have heard there are subsidy if you are willing to install solar power at home,what will be the total cost and i would like to know the details regarding this,if possible send me a quote .

[Chandu141]

The electricty charges are quite high and it is not profitable if you are mining with a small pool ,so i would like to know the details regaring your solar ,is it a registered company and is it possible to get a subsidy as i have heard there are subsidy if you are willing to install solar power at home,what will be the total cost and i would like to know the details regarding this,if possible send me a quote .

Hello,

Yes it's not at all profitable to mine on electricity ..

Sorry for the delay as i have been travelling these days.

Yes there is subsidy...

Well, there are tricks to get maximum subsidies and we can discuss it personally if you are really willing to opt for solar installation.

Our company is registered IEC Certified , MNRE Approved Design .. only these certified and approved designs will get 50%  Subsidy from the government. (for fast process you may need to spend some amount but it  varies from every state government).

Please Inbox me your  contact details for more details.

Thanks.

[jjjack]

its a great idea that that we can use solar energy to produce bitcoin u guys should also create a wind energy so that hilly area the sun appears less so wind  energy it will be game changer

[bitcoinisbest]

With 11 lakhs + as investment in just solar instrument, forgetting the space, wear and tear of the machine etc and still it will take minimum around 4 years as pay back time if everything goes as per plan. So ideally its better not to mine

[eaLiTy]

With 11 lakhs + as investment in just solar instrument, forgetting the space, wear and tear of the machine etc and still it will take minimum around 4 years as pay back time if everything goes as per plan. So ideally its better not to mine

calculating all these aspects mining is not a profitable thing unless and until you have a truck load of spare money and it is much easier to buy the coins with the money involved in mining and you could make money trading in crypto work or in stock exchanges and i am sure it will give you more profit than mining.

[bitcoinisbest]

With 11 lakhs + as investment in just solar instrument, forgetting the space, wear and tear of the machine etc and still it will take minimum around 4 years as pay back time if everything goes as per plan. So ideally its better not to mine

calculating all these aspects mining is not a profitable thing unless and until you have a truck load of spare money and it is much easier to buy the coins with the money involved in mining and you could make money trading in crypto work or in stock exchanges and i am sure it will give you more profit than mining.

Exactly the point that if you take so long years just to mine and reach the no profit and loss in 4 years that too the mining difficulty will increase so ideally not to mine. Instead of that you can readily buy btc from Indian exchanges as we have reputed couple of them now in India and trade or invest as per the choice of user.

[13abyknight]

The investment is way too much compared to the returns which you will be gaining after a long time. Also considering the maintenance and space they take up, its really a hard call to make if you're even making profit here.

[Sameenali]

Hi, I want to install solar power for btc mining, what will
Be the subsidy and cost? My whatsapp +919111115621

[BLife]

The Sun god has no holiday and the solar power can be generated every day at least 12 hours per day.  

Lets calculate the profitability with solar power.

Again we are going to mine with AntMiner S9 at a rate of 12.5Th, with investment of 2000$ USD + extra 15,000$ USD for Solar plantation (Total of 11,14,000 rupees).
So you will be spending at least 35kWh electricity per one day/24 hours which makes about  0.00 rupees and your bitcoin production will be about 500 rupees per day roughly and excluding electricity cost, you are left with total of 500 rupees (exactly what you have just mined on that day).

Hi,
 I know this is a very old post, but I am posting here just so anyone coming here can get this info.

There are few things that I believe the OP might have missed(my be the solar power vendors didn't tell him, they never tell the whole truth though).

1KW solar panel will generate about 4000w of power per day, even if sun shines 12 hours per day, because of the following

1. The efficiency of the solar panels are about 80% and add the DC to AC and then AC to DC power conversion, and at each stage the efficiency is about 80 to 90%(best estimate).
2. A solar panel will be producing at its peak efficiency for about 6-8 hours/day the max.
3. In order to produce 35KW during that time you need a solar plant of about 6KW/h setup and you need huge battery banks to store the excess, and this will add in to the power loss too
4. All this assumed we get clear sky, throw in some clouds cover then bam down goes the production.

Hope this helps someone, anyone

Regards,
Blife

[Chandu141]

There are few things that I believe the OP might have missed(my be the solar power vendors didn't tell him, they never tell the whole truth though).

You must underhand that vendors don't know much about technical aspects or the actual results and on what it depends, they just buy and sell , only the installation and maintenance people know better.