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Author Topic: New to the idea of mining - Would Antminer S5 or S7 be profitable?  (Read 1305 times)
xoibsurferx
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August 24, 2017, 10:53:55 AM
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Hello everyone,

 I'm not to bitcoin mining and have thought hard about investing in some hardware and a mining setup. Due to limited budget I can't really afford to purchase more than a Antminer S5 (cheaper and a little easier to afford) or Antminer S7. Would it be worth it to invest in one of these hardware pieces? I'm not exactly sure what my power cost is here but for AC running in the summer we pay no more than $200 a month.

I would love to be able to make an extra $500 or $1000 USD per month (yes I know that's a big gap) but anything helps and if one of them units would do it then I'd be more than happy to join in on the mining.

For now I've been using a free cloud mining solution which I've seen very small gains (15 KH/S) so I'm sure if I had a real mining setup I would gain more.
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fanatic26
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August 24, 2017, 03:15:53 PM
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Honestly you should not even buy a miner without checking power costs. I can tell you the S5 will lose you money at residential rates, and the S7 barely breaks even if that. Buying old equipment to get into mining is costly, you have to invest to see a return.

Stop buying industrial miners, running them at home, and then complaining about the noise.
xoibsurferx
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August 24, 2017, 05:17:07 PM
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Honestly you should not even buy a miner without checking power costs. I can tell you the S5 will lose you money at residential rates, and the S7 barely breaks even if that. Buying old equipment to get into mining is costly, you have to invest to see a return.

Thank you for the reply. I will check my last power bill and see what the rate is and see if it's worth it. It appears the newer miners don't use as much power and as you mentioned are more efficient than the older ones. If I buy anything I now know it needs to be the s7 or better. The s9 is definitely out of reach budget wise unless I could find a good deal on a used one.

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August 25, 2017, 10:42:46 AM
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Honestly you should not even buy a miner without checking power costs. I can tell you the S5 will lose you money at residential rates, and the S7 barely breaks even if that. Buying old equipment to get into mining is costly, you have to invest to see a return.

My power is 19 cents per kwh. To make profit from coin wars calculator I would have to get an antminer s9 or d3 and be at the 13,000 to 14,000 gh/s rate.
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August 25, 2017, 02:35:51 PM
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GPU mining would probably be a better choice for you.

I use cryptocurrency and solar power to help my best friend Naomi Wu... And I'm proud of it!
xoibsurferx
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August 25, 2017, 04:44:10 PM
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GPU mining would probably be a better choice for you.


From my research it appears gpu mining isn't really profitable for bitcoin especially with my 19 cent kwh power cost.

So I'm assuming my only real options for profit are cloud mining or buy an s9 or d3.
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August 26, 2017, 01:35:13 AM
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GPU mining would probably be a better choice for you.


From my research it appears gpu mining isn't really profitable for bitcoin especially with my 19 cent kwh power cost.

So I'm assuming my only real options for profit are cloud mining or buy an s9 or d3.
GPU mining Bitcoins has never been profitable ever since ASICs appeared on the market. But there are a bunch of altcoins well worth mining.

I use cryptocurrency and solar power to help my best friend Naomi Wu... And I'm proud of it!
xoibsurferx
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August 31, 2017, 02:34:50 AM
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Would using an Avalon 741 or  S7 be profitable in a pool setting? It appears that by solo mining at the current bitcoin price's I could be around $80 profit per month with the S7 and $200 with the Avalon 741.

How much more would the profit go up in a pool setting? I do realize that every pool is different but am a round about figure would be nice to have.

If anyone is wondering I'm kind of between buying an S7 or the Avalon 741 but since the Avalon 741 has a higher TH/S rate that will probably be the best bet. I can't seem to find any S9's under $2,000 right now and Bitmain doesn't have any in stock (I know they're cheaper on Bitmains site).
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August 31, 2017, 07:23:09 PM
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Would using an Avalon 741 or  S7 be profitable in a pool setting? It appears that by solo mining at the current bitcoin price's I could be around $80 profit per month with the S7 and $200 with the Avalon 741.

How much more would the profit go up in a pool setting? I do realize that every pool is different but am a round about figure would be nice to have.

If anyone is wondering I'm kind of between buying an S7 or the Avalon 741 but since the Avalon 741 has a higher TH/S rate that will probably be the best bet. I can't seem to find any S9's under $2,000 right now and Bitmain doesn't have any in stock (I know they're cheaper on Bitmains site).

Are sure that profit from s7 is only 80$ or over only. Why I am asking this because I expect to start the bitcoin mining as soon as possible. Henceforth, I am trying to gather the information possible to move with the mining set up rig. I can manage the electricity cost due to getting the low  electricity cost.


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leowonderful
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August 31, 2017, 08:51:09 PM
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Realistically, if you are serious about mining at all only the S/T9 or Avalon A7 miners would give you decent margins for profit. Most other miners nowadays aren't efficient enough for much at all and GPUs can often still be a better option assuming you buy at the right price even though the period of high profits has largely passed.














 

 

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xoibsurferx
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September 01, 2017, 04:25:05 PM
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Realistically, if you are serious about mining at all only the S/T9 or Avalon A7 miners would give you decent margins for profit. Most other miners nowadays aren't efficient enough for much at all and GPUs can often still be a better option assuming you buy at the right price even though the period of high profits has largely passed.

Thanks for the reply. It makes sense the S9 or T9 or Avalon A741 would be the only ones to yield a decent profit. I'm between going the GPU route and mining Ethereum but the profits are not as high and with the talk of Ethereum going the proof of stake route using a GPU miner for Ethereum will not be profitable.

So would it be wise to suck it up and go the bitcoin route with an S9 or Avalon A741? Or go with a GPU rig and do Ethereum and altcoin mining?

I know there's less places that accept Ethereum and alt coins in general as a form of payment and Bitcoin seems to be taking off especially recently. But that doesn't mean Ethereum or other altcoins won't take off.

I'd like to add with GPU mining since they use less power and have less noise I can place the unit at a space we rent with free electricity as the power bill won't go up THAT much. With Bitcoin mining they're too loud for that space and the power consumption would be too much for our landlord to not make us pay extra. I've asked and he says if its not going to be much more than say $100 extra a month for power then we can do it free.
fanatic26
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September 01, 2017, 08:43:57 PM
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Thanks for the reply. It makes sense the S9 or T9 or Avalon A741 would be the only ones to yield a decent profit. I'm between going the GPU route and mining Ethereum but the profits are not as high and with the talk of Ethereum going the proof of stake route using a GPU miner for Ethereum will not be profitable.

So would it be wise to suck it up and go the bitcoin route with an S9 or Avalon A741? Or go with a GPU rig and do Ethereum and altcoin mining?

I know there's less places that accept Ethereum and alt coins in general as a form of payment and Bitcoin seems to be taking off especially recently. But that doesn't mean Ethereum or other altcoins won't take off.

I'd like to add with GPU mining since they use less power and have less noise I can place the unit at a space we rent with free electricity as the power bill won't go up THAT much. With Bitcoin mining they're too loud for that space and the power consumption would be too much for our landlord to not make us pay extra. I've asked and he says if its not going to be much more than say $100 extra a month for power then we can do it free.

First off, ETH is over a year away from BEGINNING to cut over to PoS. When that process starts it will still be 90% gpu mined as they test it for another year. Dont believe the ill informed people that try to scare you off from mining it.

As far as payment methods go, the only way to really use ANY altcoins is to convert it into bitcoin.

At your high electricity price, a 6 card rig might cost as much as $150/mo in power so do some research before you buy anything.

Stop buying industrial miners, running them at home, and then complaining about the noise.
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