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Author Topic: AntMiner S7: electricity bill  (Read 1107 times)
MrKaizerSoze
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December 26, 2016, 02:12:46 PM
 #1

Hello team, I live in the Dominican Republic and I'm planing to buy at least 3 Antiminer S7, but I'm worry about the power consumption. Only one of those can suck almost 970 KWh (around USD$195 at current exchange) in a month.

Which alternatives do you recommend that I need to implement to keep my electrical bill low or, at least, to gain USD$50 per month?

I was looking for using green power sources (solar and wind), but the initial investment it's ridiculous: I'll need more than USD$10,000 just for a few miners.
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coolcoinz
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December 26, 2016, 02:56:05 PM
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Check if your government offers grants for people going green. In Europe you can easily get 30% or more of the initial investment returned either in the form of grants or tax exemptions.
If you're choosing between wind and solar, first check which will be more efficient in your location. How many hours of sunlight are you getting per day, how powerful are the winds. For instance, if you're located on a hill or close to the sea you'll get stronger winds.

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Finksy
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December 26, 2016, 07:18:31 PM
 #3

Hello team, I live in the Dominican Republic and I'm planing to buy at least 3 Antiminer S7, but I'm worry about the power consumption. Only one of those can suck almost 970 KWh (around USD$195 at current exchange) in a month.

Which alternatives do you recommend that I need to implement to keep my electrical bill low or, at least, to gain USD$50 per month?

I was looking for using green power sources (solar and wind), but the initial investment it's ridiculous: I'll need more than USD$10,000 just for a few miners.

If my math is correct and your electricity is US$0.201/kWh (and assuming that includes tax, delivery, etc) then I would highly suggest you don't get involved with mining (especially BTC mining) at this time. You will be losing money from the beginning, even if your S7's were free:



https://bitcoinwisdom.com/bitcoin/calculator

As posted above, I would look into government incentives for green energy.  At that electricity rate, I think building a solar and/or wind farm would be beneficial if there were government grants or otherwise.  At your rate, you are looking at spending over US$600 per month for electricity for the 3x S7's, and that will be constant month after month.  Whereas your revenue from mining will decrease month after month.

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MrKaizerSoze
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December 30, 2016, 04:46:25 PM
 #4

So my assumptions and calculations are correct: each miner can suck ~1300W at the wall.
MrKaizerSoze
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December 30, 2016, 04:50:20 PM
 #5

Hello team, I live in the Dominican Republic and I'm planing to buy at least 3 Antiminer S7, but I'm worry about the power consumption. Only one of those can suck almost 970 KWh (around USD$195 at current exchange) in a month.

Which alternatives do you recommend that I need to implement to keep my electrical bill low or, at least, to gain USD$50 per month?

I was looking for using green power sources (solar and wind), but the initial investment it's ridiculous: I'll need more than USD$10,000 just for a few miners.

If my math is correct and your electricity is US$0.201/kWh (and assuming that includes tax, delivery, etc) then I would highly suggest you don't get involved with mining (especially BTC mining) at this time. You will be losing money from the beginning, even if your S7's were free:

http://i68.tinypic.com/1qfu3q.png

https://bitcoinwisdom.com/bitcoin/calculator

As posted above, I would look into government incentives for green energy.  At that electricity rate, I think building a solar and/or wind farm would be beneficial if there were government grants or otherwise.  At your rate, you are looking at spending over US$600 per month for electricity for the 3x S7's, and that will be constant month after month.  Whereas your revenue from mining will decrease month after month.

Btw, which pool do you recommend? I just noticed that you set the pool fees at 0.5%
yuslav
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December 30, 2016, 06:36:08 PM
 #6

Hello team, I live in the Dominican Republic and I'm planing to buy at least 3 Antiminer S7, but I'm worry about the power consumption. Only one of those can suck almost 970 KWh (around USD$195 at current exchange) in a month.

Which alternatives do you recommend that I need to implement to keep my electrical bill low or, at least, to gain USD$50 per month?

I was looking for using green power sources (solar and wind), but the initial investment it's ridiculous: I'll need more than USD$10,000 just for a few miners.

We in Russia - giving a bribe and set the electrometer, which is twice less than said))

I'm an idiot. I believe in Bitcoin!
isoneguy
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December 30, 2016, 06:58:21 PM
 #7

I think solar power is a good investment regardless of mining.

If you invest in solar, you will reduce your cost of living.

Next purchase miners to use excess energy and you are golden.
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