Hi, im spinx from Sweden!
I have known about bitmining for some time now but never really botherd. Then yesterday i notice an articel about the increasing value of bitcoins. That made me interested
I have access to "free" power at my place so powerconsumption is not really an issue at this stage.
First of i want to know the answer to the obvious question "is it really worth it"? What are the main issues here?
I also configured an idea of a bitmining rig, looks like this so far, please give me input!
* 4 x SAPPHIRE RADEON HD7790 1GB PCI-E DVI/HDMI/DP
* GIGABYTE GA-990FXA-D3 AM3+ ATX
* AMD SEMPRON 145 2.8GHZ 1MB SOCKET AM3 BOX
* CORSAIR 4GB DDR3 XMS3 INTEL I3/I5/I7 1333MHZ
* CORSAIR CX 750W BRONZE ATX12V 2.3 PSU
* Build my own open air case
Total price in Sweden : 7500SEK = 1150USD.
Data from blockchained.com mining profitability calculator:- Bitcoin difficulty: 6695826
Generated coins per block: 25
Conversion rate: 127.54000
Hash rate: 4x295(found this number here in a thread) = 1180 MHash/s = 1.18 GHash/s
Electricity rate: 0 USD/kWh
Power consumption: about 5-600W
Profitability Estimate- Time frame: 3 months
Cost of mining hardware: 1150 USD
Decline per year: 0,63 default: 0.63 (from Moore's law: 0.5 every 18 months).
Revenue per time frame: 974.78 USD
Hardware break even: 109 days
Net profit first time frame: -175.22 USD
This estimates to a profit of 2156.24 USD for the first year after the hardware has been paid off. Is this a good number?
I also found 7850's for about 200USD/pcs, maybe 4 of them would be better?
Cheers!