$40 000 to invest, is there money to make in mining?

[akym]

Hello,

I have a place that electricity is near free,

With 40k$ investment, is there a way to make profit in mining?

What gear to buy to make profit? what is the most profitable minable currency? what are best mining softwares?

Thank you

[Amph]

with the current bitcoin value yes there is profit to be made with airliners s9 with 40k you are looking at 25-30 or 40 if you can find them

that is $376 pet month with each one minus consumption therefore you will too in 4 months or so

[dquancey]

Hello,

I have a place that electricity is near free,

With 40k$ investment, is there a way to make profit in mining?

What gear to buy to make profit? what is the most profitable minable currency? what are best mining softwares?

Thank you

Look at Avalon Miners here: https://canaan.io/

Then user this to work out income: https://bitcoinwisdom.com/bitcoin/calculator

Will give you a decent indication on what you should expect. Then also check out difficulty: https://bitcoinwisdom.com/bitcoin/difficulty so that you fully understand what this means and what you are getting yourself into.

If electric is "near free" why is that? Included in rent? Because $40k of mining equipment will rack up one large electric bill that will flag up somewhere.

[Hannu]

Hey mining buddy,

40k$ investment is lot, you get that example R9 or RX series cards, powers etc what you need on mining. Ethereum is one good altcoin

https://i.imgur.com/gGjeNJ6.jpg
https://i.imgur.com/xI4pGqL.jpg

Some cards (i almost say R9, its maybe not  ) and EthOS (Linux on mining purpose)

[Joel_Jantsen]

Hello,

I have a place that electricity is near free,

With 40k$ investment, is there a way to make profit in mining?

What gear to buy to make profit? what is the most profitable minable currency? what are best mining softwares?

Thank you

You cannot expect to have money and let the world decide what's good for you.It depends on a lot of other things.A rich man with lot of money and no brains cannot run a successful business.
My suggestion : Hire a technical guy/miner who has experience with the set-up and can guide you from buying the best miner out there to installing the mining software.Because right now,there are too many options to choose from and all of them have pros and cons over each other so it's better to hire an experience person to get the job done.

[alani123]

It's quite risky. There can be no guarantee that the price wouldn't fall or that difficulty wouldn't rise all of a sudden. You could hedge the risk of the difficulty rising by spending some of your cash to buy some currencies you're interested in but that's only if you're betting on a continuation of the bull market.

[jpoker272727]

Hey mining buddy,

40k$ investment is lot, you get that example R9 or RX series cards, powers etc what you need on mining. Ethereum is one good altcoin

https://i.imgur.com/gGjeNJ6.jpg
https://i.imgur.com/xI4pGqL.jpg

Some cards (i almost say R9, its maybe not  ) and EthOS (Linux on mining purpose)

Your rigs are just perfect and the heat management seems to be in a good level, congratulations 7GPUs on each motherboard.

I would suggest OP 50-50, 50% on buying mining stuff and 50% buying coins.

Based on this because the price will get increased and the mining stuff can be sold and make a good amount of profit.

[leowonderful]

Most R9 cards work, even the 290X or 290 which are essentially the same as the 390 and 390X as AMD got stuck with a lot of old Hawaii chips back when Scrypt mining died back in around 2014 IIRC. The lower end cards don't mine as fast, like the R7 370, but for the right price they can still make you decent amounts of money. Remember that efficiency is King in mining and you will have no problem.

[Hannu]

Hey mining buddy,

40k$ investment is lot, you get that example R9 or RX series cards, powers etc what you need on mining. Ethereum is one good altcoin

https://i.imgur.com/gGjeNJ6.jpg
https://i.imgur.com/xI4pGqL.jpg

Some cards (i almost say R9, its maybe not  ) and EthOS (Linux on mining purpose)

Your rigs are just perfect and the heat management seems to be in a good level, congratulations 7GPUs on each motherboard.

I would suggest OP 50-50, 50% on buying mining stuff and 50% buying coins.

Based on this because the price will get increased and the mining stuff can be sold and make a good amount of profit.

I forget to put under image its not my mining rig, its one our pool member.   Maybe someday 

[carlfebz2]

Hey mining buddy,

40k$ investment is lot, you get that example R9 or RX series cards, powers etc what you need on mining. Ethereum is one good altcoin

https://i.imgur.com/gGjeNJ6.jpg
https://i.imgur.com/xI4pGqL.jpg

Some cards (i almost say R9, its maybe not  ) and EthOS (Linux on mining purpose)

Your rigs are just perfect and the heat management seems to be in a good level, congratulations 7GPUs on each motherboard.

I would suggest OP 50-50, 50% on buying mining stuff and 50% buying coins.

Based on this because the price will get increased and the mining stuff can be sold and make a good amount of profit.

I forget to put under image its not my mining rig, its one our pool member.   Maybe someday 

I do have GPU rig set up but not as big as of been shown on the images you gave. I'm having the same wish too to have this kind of set-up I do agree its perfectly manage regarding on heat management. Mining altcoin on this set-up is good too since op do have nearly free cost of electricity which I can say roi would be more faster to reach up compared to regular miners which do have higher electricity cost. On the amount given if op would like to mine bitcoin its still profitable buying some ant miner s9 then it would be a good set-up if he changed his mind he can switch to GPU mining.

[lampix]

I would avoid BTC mining, unless you can do it on a larger scale. Maybe look into LTC mining (miners are really expensive, so maybe not the best move now) or other alt coins using graphics cards to mine them. If you choose a great altcoin (Zcash or ETH) you may see better returns in long run. Mining is already a lucrative industry, so why not try to choose a coin without a huge difficulty.

[tokyoliving]

With $40k of investment, how long is it realistically going to take to get a ROI?

[dquancey]

With $40k of investment, how long is it realistically going to take to get a ROI?

This kind of question is a little difficult to answer.

Questions about algorithm, electric costs, electric usage, cooling, GPU or ASIC, difficulty and many more.

Stupid quick calculation on BitcoinWisdom calculator at a 2% difficulty rise and it will take 12 months+ for your ROI including electric at a decent price point for the Avalon 7.

Something as big as an investment needs to be managed and looked after too. So man hours will be plenty.
 

[leowonderful]

With $40k of investment, how long is it realistically going to take to get a ROI?

This kind of question is a little difficult to answer.

Questions about algorithm, electric costs, electric usage, cooling, GPU or ASIC, difficulty and many more.

Stupid quick calculation on BitcoinWisdom calculator at a 2% difficulty rise and it will take 12 months+ for your ROI including electric at a decent price point for the Avalon 7.

Something as big as an investment needs to be managed and looked after too. So man hours will be plenty.
  

2% is absolutely unrealistic for difficulty rises as we're now seeing regular 5-10% difficulty rises nowadays. While calculators are good as an estimation, keep in mind they are estimations and are most of the time not correct.


As for working hours, supposing you use good PSUs and monitor + set heat limits on miners (which don't always work) you won't need to repair or do maintenance very much. Remember dust is your worst enemy and use compressed air to remove dust every few months on miners for optimal temps.

[dquancey]

With $40k of investment, how long is it realistically going to take to get a ROI?

This kind of question is a little difficult to answer.

Questions about algorithm, electric costs, electric usage, cooling, GPU or ASIC, difficulty and many more.

Stupid quick calculation on BitcoinWisdom calculator at a 2% difficulty rise and it will take 12 months+ for your ROI including electric at a decent price point for the Avalon 7.

Something as big as an investment needs to be managed and looked after too. So man hours will be plenty.
  

2% is absolutely unrealistic for difficulty rises as we're now seeing regular 5-10% difficulty rises nowadays. While calculators are good as an estimation, keep in mind they are estimations and are most of the time not correct.


As for working hours, supposing you use good PSUs and monitor + set heat limits on miners (which don't always work) you won't need to repair or do maintenance very much. Remember dust is your worst enemy and use compressed air to remove dust every few months on miners for optimal temps.

I know, I never outlined that 2% was normal, I guess 5% would of been a better idea, as seems to be roughly the right amount: https://bitcoinwisdom.com/bitcoin/difficulty

But even at 5%, you'll still be sitting pretty if BTC price rises to $3k and beyond.

[Cosbycoin]

Hey mining buddy,

40k$ investment is lot, you get that example R9 or RX series cards, powers etc what you need on mining. Ethereum is one good altcoin

https://i.imgur.com/gGjeNJ6.jpg
https://i.imgur.com/xI4pGqL.jpg

Some cards (i almost say R9, its maybe not  ) and EthOS (Linux on mining purpose)

Your rigs are just perfect and the heat management seems to be in a good level, congratulations 7GPUs on each motherboard.

I would suggest OP 50-50, 50% on buying mining stuff and 50% buying coins.

Based on this because the price will get increased and the mining stuff can be sold and make a good amount of profit.

I forget to put under image its not my mining rig, its one our pool member.   Maybe someday 

I do have GPU rig set up but not as big as of been shown on the images you gave. I'm having the same wish too to have this kind of set-up I do agree its perfectly manage regarding on heat management. Mining altcoin on this set-up is good too since op do have nearly free cost of electricity which I can say roi would be more faster to reach up compared to regular miners which do have higher electricity cost. On the amount given if op would like to mine bitcoin its still profitable buying some ant miner s9 then it would be a good set-up if he changed his mind he can switch to GPU mining.

Mining is one of the top suggested ways to make money through bitcoins. It can be very profitable and secure investment if done with proper calculations of your profit and good management. Many people prefer it on large scale because on large scale you profit to expense ratio increases and it is easy to earn bitcoins out of it. On small scales it can be difficult some times to get profit out of it. In $40, 000 you will be able to get good hardware if you spend your money wisely.

[swogerino]

That is a good amount to start mining. For the moment I do not recommend you go with R9 series, TDP consumption is big and the RX Series profitability is going down daily. I say you are good to go with S9 for the moment since they are in stock. If you wait a bit you may win big as the Antminer L3+ makes about 504 Mhs on scrypt and consumes less than 100 watt. About 25 of those would make some insane profit in only 2 months.

[bossbit]

That is a good amount to start mining. For the moment I do not recommend you go with R9 series, TDP consumption is big and the RX Series profitability is going down daily. I say you are good to go with S9 for the moment since they are in stock. If you wait a bit you may win big as the Antminer L3+ makes about 504 Mhs on scrypt and consumes less than 100 watt. About 25 of those would make some insane profit in only 2 months.

I read an L3 uses 800 watts, where did you read 100 watts?

[1.btcwonder]

It is pretty risky and crazy, investing $4000 is fine, I think.

[Dhimas Kanjeng]

I think and believe mining for now is a high risk, the level of difficulty is increasing so the results always go down, better mining with a small scale if profit we can add again.