Bitcoin Mining Profitability Canada, Quebec.

[alred911]

Here is some electricity cost in CAD.

plan fee  per day                         x 0,4064 $
price for first 30kwh per day            0,0571 $
price after first 30kwh                    0,0868 $

We don't really have a cooling issue up there.
Im asking because i'm not sure it is worth it, can someone advise ?
i was ready to buy a S9 then i thought about asking you guys first.

[1714151337]

1714151337

[unholycactus]

It's OK for an S9, keep in mind you don't only have miners consuming electricity so your first 30 kWh isn't accurate.
It's still risky since it depends on how much the difficulty rises. Also depends how much you get your miner for.

[alred911]

thanks you for your answer, i did not take in consideration the  110/220v issue,
so i need to add something like the 110v/120V 80+ Gold Power Supply Kit For Antminer S9 Bitcoin Miner   which cost another 150US.

its right that the S9 is quite old now it is maybe not a good time to start this venture, what do you think ?

[unholycactus]

thanks you for your answer, i did not take in consideration the  110/220v issue,
so i need to add something like the 110v/120V 80+ Gold Power Supply Kit For Antminer S9 Bitcoin Miner   which cost another 150US.

its right that the S9 is quite old now it is maybe not a good time to start this venture, what do you think ?

It would depend on how much you could get your S9 for. Winter is over and I usually use my miners for heat, so I don't think I would do anything personally speaking.

[veleten]

yes many will depend on your miners cost and how long they will run without repairs
if you assume 100% uptime of your miners,you can use one of the profit calculators to approximate your earnings
for example: http://www.coinwarz.com/calculators/bitcoin-mining-calculator/?h=9460.00&p=2600.00&pc=0.10&pf=1.00&d=499635929816.66800000&r=12.50000000&er=1136.05070000&hc=0.00
( I suggest you add 10% to the figures-downtime,difficulty rises etc.)
even with 10 cents USD Kw/h you should be able to achieve ROI in under 11 months

[alred911]

well with the last news, i now consider the ebit e9.
or even mining ETH it look more profitable.
any thought ?

[beltsniffer]

well with the last news, i now consider the ebit e9.
or even mining ETH it look more profitable.
any thought ?

I have 5 of the E9's. I've only had them for a couple of weeks, but so far they have proven reliable. The iinterface isn't as easy to configure the miner as the Bitmain s9/t9 or Avalon 721.

If you want to check your expected earnings or ROI this calculator from Bitcoin Wisdom will also let you add in Difficulty Increase expectation as well as lots of other factors.
https://bitcoinwisdom.com/bitcoin/calculator

[alred911]

thx for your answer,

but why are you guys mining bitcoin when altcoin like ETH looks more profitable, what do i miss ?

[veleten]

thx for your answer,

but why are you guys mining bitcoin when altcoin like ETH looks more profitable, what do i miss ?

you missed nothing
many of the miners have fingers in both pies
they mine both bitcoins and altcoins,using ,for example, s9 to mine bitcoins and GPU or Baikal miners to mine altcoins
mind you,altcoins have not been that profitable to mine a couple of months ago,it is due to the recent price rise of ETH,DASH,LTC
that altcoin miners started to be more profitable than sha256 miners

[alred911]

so with 7cents (CAD) for electricty. it will be profitable to mine, and to replace one heating device in my basement with a mining rig.
However i feel like im a litle late in the game, ETH could be profitable right now, but till when ? they will move to POS maybe before  my ROI...
Any advises?

[veleten]

the sooner you start the better
make sure you calculate every step and make sure your ROI takes no longer than 9-12 months
even with the most pessimistic scenario
and the only ones who don't make mistakes are the ones that do nothing

[Amph]

thx for your answer,

but why are you guys mining bitcoin when altcoin like ETH looks more profitable, what do i miss ?

one reason could be that you have directly your bitcoin, the satisfaction to mine directly bitcoin instead of another coins and losing somethigng when you exchnage(fee, swing of the value for the other coin etc...) is important

nicehash is doing here a good thing with the auto-conversion of what you mine in bitcoin, and it make like you are mining directly BTC

[harirajmohan]

Hi,
Will it be costly to mine being on ON? Any inputs from experts?
Any idea to setup couple of S9 in Quebec?

SOrry i am new to mining hence not much idea on it.
Thanks.

[serinkij]

Hello all
What is better to mine now?