I have access to electricity free of charge, how should i mine ?

[calkob]

Ok so i have been offered the prospect of free electricity and am thinking about buying some mining hardware, what is currently the best hardware and what else should i be thinking about?

thanks

[xhomerx10]

Ok so i have been offered the prospect of free electricity and am thinking about buying some mining hardware, what is currently the best hardware and what else should i be thinking about?

thanks

 If you look down below your topic in the mining speculation thread you will see many topics very similar to yours.  Read those first and then ask your questions.  So may people come in here without giving ANY information other than "I have free electricity" and "I'm thinking about..." which is far too vague.  Nobody can properly advise you until we know if your parents are paying for the "free" electricity or it's your landlord's problem; which will eventually become yours.  It might also be some other problem like the one that caused ChineseSaviour to sell the farm.

 Household voltage? ie 120 or 240
 Climate? tropical/arid/subarctic/icecap
 Space? separate room or will they live with you
 Noise tolerance? your own/your neighbours - how close are they?
 Money? What's your budget?
 
 

[leowonderful]

With free electricity, most of the time there will be a limit to how much is available to you. Some places will not allow much usage, some more- I would recommend buying a cheap miner and trying to mine with that- I know a few people in my area trying to sell Antminer S1's for free as they're practically worthless. Those can be nice to start with as they can be undervolted nicely and won't use too much power then.

[lOvE mE forEvEr]

I think it's very advantageous for you, you can buy a cheap Antminer S3 or S5. If there is no budget to buy new, buy a second is good option too. Happy mining friend.

[Amph]

With free electricity, most of the time there will be a limit to how much is available to you. Some places will not allow much usage, some more- I would recommend buying a cheap miner and trying to mine with that- I know a few people in my area trying to sell Antminer S1's for free as they're practically worthless. Those can be nice to start with as they can be undervolted nicely and won't use too much power then.

for this reason i think it's still better to buy efficient miner so you have more room and you can add other device in the future

cheap asic consume a lot and you will end up with much less hashrate in the end, therefore s9 is always the way to go for me

[Factmine]

Ok so i have been offered the prospect of free electricity and am thinking about buying some mining hardware, what is currently the best hardware and what else should i be thinking about?

thanks

 If you look down below your topic in the mining speculation thread you will see many topics very similar to yours.  Read those first and then ask your questions.  So may people come in here without giving ANY information other than "I have free electricity" and "I'm thinking about..." which is far too vague.  Nobody can properly advise you until we know if your parents are paying for the "free" electricity or it's your landlord's problem; which will eventually become yours.  It might also be some other problem like the one that caused ChineseSaviour to sell the farm.

 Household voltage? ie 120 or 240
 Climate? tropical/arid/subarctic/icecap
 Space? separate room or will they live with you
 Noise tolerance? your own/your neighbours - how close are they?
 Money? What's your budget?

He summarized all the proper points to your thread. Probably just change your topic to something like a newbie question about mining. Just ask what would be the optimal build of the rig in your current situation. Asking if you should go for it would really be just repeating every topic with the same idea.

[Zadicar]

Ok so i have been offered the prospect of free electricity and am thinking about buying some mining hardware, what is currently the best hardware and what else should i be thinking about?

thanks

Its very nice that someone does offer you a free electricity which is really good to consider when you plan to build a mining farm.The best hardware for mining is antminer s9 as of now and you should consider first on what place you will put those miners and also think off the maintenance.If you could able to handle these things then you will be profitable and reach roi faster since you dont have electricity charges.

[ethereumhunter]

Ok so i have been offered the prospect of free electricity and am thinking about buying some mining hardware, what is currently the best hardware and what else should i be thinking about?

thanks

Its very nice that someone does offer you a free electricity which is really good to consider when you plan to build a mining farm.The best hardware for mining is antminer s9 as of now and you should consider first on what place you will put those miners and also think off the maintenance.If you could able to handle these things then you will be profitable and reach roi faster since you dont have electricity charges.

yes its interesting if we can have free electricity so we can use it for mining but i think its not good if we mining bitcoin, i think its still profitable if we mining altcoin like eth, zec, etc, dash. because if we decide to mining bitcoin then we should prepare s9 which is very expensive to buy. its still more cheap if we buy a new pc with three or four vga card inside.

[Quickdart]

Ok so i have been offered the prospect of free electricity and am thinking about buying some mining hardware, what is currently the best hardware and what else should i be thinking about?

thanks

Its very nice that someone does offer you a free electricity which is really good to consider when you plan to build a mining farm.The best hardware for mining is antminer s9 as of now and you should consider first on what place you will put those miners and also think off the maintenance.If you could able to handle these things then you will be profitable and reach roi faster since you dont have electricity charges.

I just did a calculation. If the difficulty rise 8% every 13 days, you cannot ROI even with 0.01 dollar electricty price.

[carlfebz2]

Ok so i have been offered the prospect of free electricity and am thinking about buying some mining hardware, what is currently the best hardware and what else should i be thinking about?

thanks

Its very nice that someone does offer you a free electricity which is really good to consider when you plan to build a mining farm.The best hardware for mining is antminer s9 as of now and you should consider first on what place you will put those miners and also think off the maintenance.If you could able to handle these things then you will be profitable and reach roi faster since you dont have electricity charges.

I just did a calculation. If the difficulty rise 8% every 13 days, you cannot ROI even with 0.01 dollar electricty price.

You got it man even the price of electricity would be very cheap or free but the mining difficulty would be your enemy and as you said it rises 8% every 13 days which means roi would be very longer to achieved but theres a way to be profitable since OP have a free electricity building a mining farm which composed by 5-8 s9's miner would be good.

[JANGKRIK BOSS]

Soon do mining, price bitcoin has been very good and reach $1,100, you can use S5, S7 or S9 from latest bitmain. Electricity are the greatest costs, so if you could get free of course behind the capital (RoI) more quickly, maybe not more 5 months.

[mindtrip]

I have an old S2 I could sell you really cheap it's 1Th and pretty low noise if that's an issue for you. As others have stated how much electric power do you have available to you and is it 110v or 220v? If your new to mining I'd suggest starting with the cheapest miners you can get and make sure it's for you before you drop big money on the latest and greatest machines. I keep my S2 around for those same opportunities of free temporary electric since the machine ha snore then payed itself off for me

[coolcoinz]

If I had free electricity I'd be mining the crap out of every old miner I could find at dirt cheap prices. I live in a cold climate and could use a couple of cheap heaters With free electricity you have nothing to fear, OP.

[mindtrip]

If I had free electricity I'd be mining the crap out of every old miner I could find at dirt cheap prices. I live in a cold climate and could use a couple of cheap heaters With free electricity you have nothing to fear, OP.

I agree if electric is free then even the oldest miner is worth running for the heat and feee bitcoin in the winter months 

[xhomerx10]

If I had free electricity I'd be mining the crap out of every old miner I could find at dirt cheap prices. I live in a cold climate and could use a couple of cheap heaters With free electricity you have nothing to fear, OP.

I agree if electric is free then even the oldest miner is worth running for the heat and feee bitcoin in the winter months 

 I disagree.  I have 40 Asicminer block eruptors and it wouldn't even be worth it for you to pay the shipping if I gave them to you.

336 MH/s ea. @ 2.55W

All 40 would produce 0.00001064 BTC per day which rounds up to one penny a day.  Nice little 102 Watt heater/light show though.

[coolcoinz]

If I had free electricity I'd be mining the crap out of every old miner I could find at dirt cheap prices. I live in a cold climate and could use a couple of cheap heaters With free electricity you have nothing to fear, OP.

I agree if electric is free then even the oldest miner is worth running for the heat and feee bitcoin in the winter months 

 I disagree.  I have 40 Asicminer block eruptors and it wouldn't even be worth it for you to pay the shipping if I gave them to you.

336 MH/s ea. @ 2.55W

All 40 would produce 0.00001064 BTC per day which rounds up to one penny a day.  Nice little 102 Watt heater/light show though.

Good point, but why would he want a simple 100W when he could have something far more powerful, like this 1.4TH SP10 for $100. It uses over 1000W, 4-5 of these, working 24/7 can heat a small house.
Each should give you close to $30 a month and return the cost of your heater after just over 3 months. I have to spend about $150 to keep myself warm at winter, so my investment in 4 sp10s would give me a return in less than 2 months. Wish I could get some free power

[evakka]

If he is having the advantage of free electricity the option to buy a used antminer s7 and go for Bitcoin is it going to be profitable nowadays ?
How much does this device cost and when do u think he will be able to get his money back and make profit on top of that?

[leowonderful]

If he is having the advantage of free electricity the option to buy a used antminer s7 and go for Bitcoin is it going to be profitable nowadays ?
How much does this device cost and when do u think he will be able to get his money back and make profit on top of that?

Honestly i'd just go for a bunch of used S5s, they cost less if you're going to use free electricity and you should reach ROI in just a few months and profit after that. You could also go all out with the most obsolete, high-hashrate miners like the S2 but i'm guessing OP has a cap on his electrical usage.

[evakka]

If he is having the advantage of free electricity the option to buy a used antminer s7 and go for Bitcoin is it going to be profitable nowadays ?
How much does this device cost and when do u think he will be able to get his money back and make profit on top of that?

Honestly i'd just go for a bunch of used S5s, they cost less if you're going to use free electricity and you should reach ROI in just a few months and profit after that. You could also go all out with the most obsolete, high-hashrate miners like the S2 but i'm guessing OP has a cap on his electrical usage.

S2 is having better results than the S5 but it consumes more power?
What does OP mean ?

[Quickdart]

If he is having the advantage of free electricity the option to buy a used antminer s7 and go for Bitcoin is it going to be profitable nowadays ?
How much does this device cost and when do u think he will be able to get his money back and make profit on top of that?

Honestly i'd just go for a bunch of used S5s, they cost less if you're going to use free electricity and you should reach ROI in just a few months and profit after that. You could also go all out with the most obsolete, high-hashrate miners like the S2 but i'm guessing OP has a cap on his electrical usage.

S2 is having better results than the S5 but it consumes more power?
What does OP mean ?

Use S5 at least.