Launching the Antminer L3+, World's Most Powerful and Efficient Litecoin Miner

[usao]

I had a bad fan on an Inno A4, and they told me to just buy one on ebay and they would re-reimburse me.
Since they are commodity, all you really need to know is the CFM rating.

[AlcoHoDL]

Hello to the altcoin mining community,

I'm very seriously thinking of purchasing one (1) unit of the Bitmain Antminer L3+, for mining using NiceHash or some other mining pool. I've been following cryptocurrencies for 3+ years now, but I'm a newbie when it comes to mining. I know that mining Bitcoin is now almost unprofitable for small-scale setups, so I thought that the L3+ may be a suitable choice, considering that Scrypt mining is still not as heavily saturated as SHA256. The profitability figures shown in NiceHash are remarkable, see below:

Past earnings for the Antminer L3+:

• Gross income: 1,187 EUR/month
• Electricity cost: 115 EUR/month (@ 0.2 EUR/kWh)
• Net profit: 1,072 EUR/month

Now, here in Europe, the L3+ can be bought for around 3200 EUR, including the power supply, VAT and shipping costs, and I will have it in my hands on December 2017, which is very late considering the fast pace things are changing in this space.

Notice the above title: "Past earnings", which leads me to the question: what should I expect to get from this miner in the future? What about the change in difficulty for Litecoin and other Scrypt coins? Also note that the electricity costs where I live are quite high (around 0.2 EUR/kWh), a non-negligible negative term in the equation.

So, what do the experts here think? Does it make sense financially to set this rig up? Is it economically viable? Will I achieve ROI in a reasonable amount of time (if ever)? Is it worth the money, time and effort? On paper it looks great, but I worry that it may just be too good to be true...

Many thanks in advance for any comments, suggestions and advice you can give me.

[Albortz]

Hello to the altcoin mining community,

I'm very seriously thinking of purchasing one (1) unit of the Bitmain Antminer L3+, for mining using NiceHash or some other mining pool. I've been following cryptocurrencies for 3+ years now, but I'm a newbie when it comes to mining. I know that mining Bitcoin is now almost unprofitable for small-scale setups, so I thought that the L3+ may be a suitable choice, considering that Scrypt mining is still not as heavily saturated as SHA256. The profitability figures shown in NiceHash are remarkable, see below:

Past earnings for the Antminer L3+:

• Gross income: 1,187 EUR/month
• Electricity cost: 115 EUR/month (@ 0.2 EUR/kWh)
• Net profit: 1,072 EUR/month

Now, here in Europe, the L3+ can be bought for around 3200 EUR, including the power supply, VAT and shipping costs, and I will have it in my hands on December 2017, which is very late considering the fast pace things are changing in this space.

Notice the above title: "Past earnings", which leads me to the question: what should I expect to get from this miner in the future? What about the change in difficulty for Litecoin and other Scrypt coins? Also note that the electricity costs where I live are quite high (around 0.2 EUR/kWh), a non-negligible negative term in the equation.

So, what do the experts here think? Does it make sense financially to set this rig up? Is it economically viable? Will I achieve ROI in a reasonable amount of time (if ever)? Is it worth the money, time and effort? On paper it looks great, but I worry that it may just be too good to be true...

Many thanks in advance for any comments, suggestions and advice you can give me.

Don't sweat if you can't wait 9+ months for ROI

expect 300$/month revenue by December. deduct your costs of labor and your down to 150.  Expect your machine to break at least once within the first 6 months. If that is the case you can wait 3 weeks for repair if your lucky its just one hash board you need to repair. Worst case like in my case control board (no working dashboards = no income)


Also consider taxes. if its a business (which it is) you can deduct VAT and deduct your purchase price from the revenue = less profits needing taxation.


But I would not do it. Spend the money on a GPU rig

[thiec]

Hello to the altcoin mining community,

I'm very seriously thinking of purchasing one (1) unit of the Bitmain Antminer L3+, for mining using NiceHash or some other mining pool. I've been following cryptocurrencies for 3+ years now, but I'm a newbie when it comes to mining. I know that mining Bitcoin is now almost unprofitable for small-scale setups, so I thought that the L3+ may be a suitable choice, considering that Scrypt mining is still not as heavily saturated as SHA256. The profitability figures shown in NiceHash are remarkable, see below:

Past earnings for the Antminer L3+:

• Gross income: 1,187 EUR/month
• Electricity cost: 115 EUR/month (@ 0.2 EUR/kWh)
• Net profit: 1,072 EUR/month

Now, here in Europe, the L3+ can be bought for around 3200 EUR, including the power supply, VAT and shipping costs, and I will have it in my hands on December 2017, which is very late considering the fast pace things are changing in this space.

Notice the above title: "Past earnings", which leads me to the question: what should I expect to get from this miner in the future? What about the change in difficulty for Litecoin and other Scrypt coins? Also note that the electricity costs where I live are quite high (around 0.2 EUR/kWh), a non-negligible negative term in the equation.

So, what do the experts here think? Does it make sense financially to set this rig up? Is it economically viable? Will I achieve ROI in a reasonable amount of time (if ever)? Is it worth the money, time and effort? On paper it looks great, but I worry that it may just be too good to be true...

Many thanks in advance for any comments, suggestions and advice you can give me.

Don't sweat if you can't wait 9+ months for ROI

expect 300$/month revenue by December. deduct your costs of labor and your down to 150.  Expect your machine to break at least once within the first 6 months. If that is the case you can wait 3 weeks for repair if your lucky its just one hash board you need to repair. Worst case like in my case control board (no working dashboards = no income)


Also consider taxes. if its a business (which it is) you can deduct VAT and deduct your purchase price from the revenue = less profits needing taxation.


But I would not do it. Spend the money on a GPU rig

So many technical problem in mining. I prefer smooth and a little slow device than facing LUCK in receiving it. But its not our choice.

[chandra2sekhar2000]

Hello,
i have few L3+ shipped and held in customs from >12days. after examination Deputy commissioner replied to DHL as, "Found Bitcoin miners, it is under import policy restrictions and can not be cleared" and DHL team mailed me to contact the DC in person , if so they will arrange an appointment. i see that there are many indian friends, especially from Bangalore on this forum. Some of them might already faced such issues.kindly provide some help about how to deal with this issue and past experiences and clear  the miners from customs.Thank you

with regards
Dr.N.Chandra sekhar,M.tech,phd

[wheelz1200]

I had one of L3+ ship with a bad control board. Contacted Bitmain about the issue and they responded that they will be shipping out a replacement board for me. Anyone ever had a similar experience? What was the time frame for a replacement part to arrive? Havent received an updated response from Bitmain concerning shipping & its costly & sad to see an L3+ gather dust.

The rear fan on my L3+ was not working when I received it on 20th July, I shipped it out for replacement soon after, until today I still haven't received anything from them yet.

So you lost out on over a month and a half of mining over a fan?  I can see chips not working but honest question, why didnt you just buy a fan? 

[AlcoHoDL]

I had one of L3+ ship with a bad control board. Contacted Bitmain about the issue and they responded that they will be shipping out a replacement board for me. Anyone ever had a similar experience? What was the time frame for a replacement part to arrive? Havent received an updated response from Bitmain concerning shipping & its costly & sad to see an L3+ gather dust.

The rear fan on my L3+ was not working when I received it on 20th July, I shipped it out for replacement soon after, until today I still haven't received anything from them yet.

So you lost out on over a month and a half of mining over a fan?  I can see chips not working but honest question, why didnt you just buy a fan?  

My thought exactly! This kind of fan shouldn't cost more than $20 (vs. $1500+ lost from 1.5 months of not mining)...

[bigassboy]

I had one of L3+ ship with a bad control board. Contacted Bitmain about the issue and they responded that they will be shipping out a replacement board for me. Anyone ever had a similar experience? What was the time frame for a replacement part to arrive? Havent received an updated response from Bitmain concerning shipping & its costly & sad to see an L3+ gather dust.

The rear fan on my L3+ was not working when I received it on 20th July, I shipped it out for replacement soon after, until today I still haven't received anything from them yet.

So you lost out on over a month and a half of mining over a fan?  I can see chips not working but honest question, why didnt you just buy a fan?  

My thought exactly! This kind of fan shouldn't cost more than $20 (vs. $1500+ lost from 1.5 months of not mining)...

Maybe I didn't explained it clearly, my bad.. I was just pointing out to "VuValley" that its could take a very long time to expect the items back from bitmain but i'm not in rush as I have spares to work with.

[wheelz1200]

I had one of L3+ ship with a bad control board. Contacted Bitmain about the issue and they responded that they will be shipping out a replacement board for me. Anyone ever had a similar experience? What was the time frame for a replacement part to arrive? Havent received an updated response from Bitmain concerning shipping & its costly & sad to see an L3+ gather dust.

The rear fan on my L3+ was not working when I received it on 20th July, I shipped it out for replacement soon after, until today I still haven't received anything from them yet.

So you lost out on over a month and a half of mining over a fan?  I can see chips not working but honest question, why didnt you just buy a fan?  

My thought exactly! This kind of fan shouldn't cost more than $20 (vs. $1500+ lost from 1.5 months of not mining)...

Maybe I didn't explained it clearly, my bad.. I was just pointing out to "VuValley" that its could take a very long time to expect the items back from bitmain but i'm not in rush as I have spares to work with.

Oh...haha i thought you shipped the whole miner back.  I thought i might have read it wrong.  Either way 1 and a half months to get a spare fan back is crazy but i know they have to be inundated with sales/returns/etc with the L3s, S9s and D3s all out or coming out soon.

[Micky25]

Hello,
i have few L3+ shipped and held in customs from >12days. after examination Deputy commissioner replied to DHL as, "Found Bitcoin miners, it is under import policy restrictions and can not be cleared" and DHL team mailed me to contact the DC in person , if so they will arrange an appointment. i see that there are many indian friends, especially from Bangalore on this forum. Some of them might already faced such issues.kindly provide some help about how to deal with this issue and past experiences and clear  the miners from customs.Thank you

with regards
Dr.N.Chandra sekhar,M.tech,phd

Maybe a in person audience with the Deputy commissioner involving a discreet handover of a rupee-filled envelope could be expedient.
Or just tell him they are for research purposes.
Or that these are for litecoins, not for bitcoins.

[thiec]

Hello,
i have few L3+ shipped and held in customs from >12days. after examination Deputy commissioner replied to DHL as, "Found Bitcoin miners, it is under import policy restrictions and can not be cleared" and DHL team mailed me to contact the DC in person , if so they will arrange an appointment. i see that there are many indian friends, especially from Bangalore on this forum. Some of them might already faced such issues.kindly provide some help about how to deal with this issue and past experiences and clear  the miners from customs.Thank you

with regards
Dr.N.Chandra sekhar,M.tech,phd

Maybe a in person audience with the Deputy commissioner involving a discreet handover of a rupee-filled envelope could be expedient.
Or just tell him they are for research purposes.
Or that these are for litecoins, not for bitcoins.

1st you have to make sure that there is a policy to place bitcoin miner under restrictions
2nd you find a description about bitcoin miner in the policy or from customs point of view, make sure that only bitcoin not all crypto currency
3rd you start to argue that its not bitcoin miner but a scrypt miner for litecoin

Imho, restrictions usually place under HS code, so maybe put the right HS code will solve the problem

Last step.. ask the customs expert to help you out.

[QuintLeo]

]The rear fan on my L3+ was not working when I received it on 20th July, I shipped it out for replacement soon after, until today I still haven't received anything from them yet.

So you lost out on over a month and a half of mining over a fan?  I can see chips not working but honest question, why didnt you just buy a fan?  

My thought exactly! This kind of fan shouldn't cost more than $20 (vs. $1500+ lost from 1.5 months of not mining)...

 $25-$30 actually - but STILL not worth the lost income.

[HagssFIN]

Yeah, you can get like fifty spare part fans with that loss amount  

[lynewyork]

Do you know how to find all the L3+ batches released (and will be released) by BITMAIN?

[shoaib39]

Do you know how to find all the L3+ batches released (and will be released) by BITMAIN?

Fuck the bitmain... Worst hardware.... Getting problem one by one in the 2 board only 20 days old miner......
Their services, support is also very slow. Al the things are slow.

I Will never buy it again..... Fuck fuck fuck... I lost my money...

[Khurram Bin Kamal]

Do you know how to find all the L3+ batches released (and will be released) by BITMAIN?

Fuck the bitmain... Worst hardware.... Getting problem one by one in the 2 board only 20 days old miner......
Their services, support is also very slow. Al the things are slow.

I Will never buy it again..... Fuck fuck fuck... I lost my money...

Are you running your miners on inverters when there is no electricity?
If yes than you are bound to have troubles

[shoaib39]

Do you know how to find all the L3+ batches released (and will be released) by BITMAIN?

Fuck the bitmain... Worst hardware.... Getting problem one by one in the 2 board only 20 days old miner......
Their services, support is also very slow. Al the things are slow.

I Will never buy it again..... Fuck fuck fuck... I lost my money...

Are you running your miners on inverters when there is no electricity?
If yes than you are bound to have troubles

What do you mean.... Bro?

[cienki77]

Hello,
i have few L3+ shipped and held in customs from >12days. after examination Deputy commissioner replied to DHL as, "Found Bitcoin miners, it is under import policy restrictions and can not be cleared" and DHL team mailed me to contact the DC in person , if so they will arrange an appointment. i see that there are many indian friends, especially from Bangalore on this forum. Some of them might already faced such issues.kindly provide some help about how to deal with this issue and past experiences and clear  the miners from customs.Thank you

with regards
Dr.N.Chandra sekhar,M.tech,phd

Maybe a in person audience with the Deputy commissioner involving a discreet handover of a rupee-filled envelope could be expedient.
Or just tell him they are for research purposes.
Or that these are for litecoins, not for bitcoins.

1st you have to make sure that there is a policy to place bitcoin miner under restrictions
2nd you find a description about bitcoin miner in the policy or from customs point of view, make sure that only bitcoin not all crypto currency
3rd you start to argue that its not bitcoin miner but a scrypt miner for litecoin

Imho, restrictions usually place under HS code, so maybe put the right HS code will solve the problem

Last step.. ask the customs expert to help you out.

Mine is also stuck in UPS warehouse in China for over 12 days. UPS is saying that I need to contact seller and Bitmain is telling me to wait few more days and "do not worry"...

[Liquid71]

So do the latest batches of L3+ have the antbleed vulnerability in them?

[usao]

So do the latest batches of L3+ have the antbleed vulnerability in them?

Honestly have no idea, however from the desxription the "feature" can only be used if the rig checks in with the bitmain server.
This could possibly be prevented by using a local host file on your DNS server to respond with a bogus IP (such as 0.0.0.0) or by blocking that outbound IP in your router.
It would be interesting to hear back from someone who knows the details and any preventative methods.