Very low electricty fee

[jijikill]

Hi guys, because of some reason, the place I live now has super low electricity fee, around $0.02/kwh , should I start mining? My place can withstand around 60-70 miners I think , I will be starting with 2-3 as I have no much extra cash

[1714860700]

1714860700

[1714860700]

1714860700

[1714860700]

1714860700

[eckmar]

Hi guys, because of some reason, the place I live now has super low electricity fee, around $0.02/kwh , should I start mining? My place can withstand around 60-70 miners I think , I will be starting with 2-3 as I have no much extra cash

When you say miners what do you mean exactly ? Since you are posting on Alcoin Mining I guess you mean mining rig that consists of 6 GPUs ? So when you say you have money for 2-3 miners that is 12-18 GPUs ? Or you have money for 2-3 GPUs ?

[jijikill]

Yes 6 GPU mining rig , so i would able to afford around 12-18 GPUs

[evakka]

Since you have low electricity charges why don't you get an antminer or a similar miner for other coins instead of a GPU rig?
GPUs are a bit of expensive at the moment

[Cereberus]

18 GPU should make you some really decent profit with your electricity rate. If I were you I would start buying all the parts for a rig like Processor, Motherboard, ram, ssd ,psu and GPU-s. At this moment rated by many as the most ideal card to mine with based on cost/performance/energy consuming is the GTX 1060 3GB which will give you 290 sol/s overclocked +200 memclock and about 22.8 Mhash overclocked.

18 GPU of this kind would make profitability for you for a day in bitcoin 0.0066 btc with 5220 sol/s you would get from these cards.

Almost same or only a very fraction more of profitability you will be doing when mining Ethereum.

It is about 0.21 bitcoin a month which is not a value to be underestimated especially nowadays with the bitcoin price at these high levels.

[coinzoid]

Make sure you verify that circuit is enough to handle such power. Otherwise you will be sad if you experience a power related issue.

[Khurram Bin Kamal]

Certainly if I were you I would be going aggressively into mining with few gpu rigs and couple of  antminers S9 and L3 each in fact you can buy S7 which is very cheap in fiat terms but consumes more electricity and since you have a negligible electricity cost and low budget  used S7 are the perfect choice for you 

[SubZer0]

In what country do you live, how is the temperature because in hot countries you need airco up and running 24/7 almost except evening sometimes.

[eckmar]

Since you have low electricity charges why don't you get an antminer or a similar miner for other coins instead of a GPU rig?
GPUs are a bit of expensive at the moment

They are expensive, but when you are done with them you can always sell them and there will always be buyers. When you are done with ASIC no one will buy it because its no longer profitable, so no point in having it around

[jmigdlc99]

18 GPU should make you some really decent profit with your electricity rate. If I were you I would start buying all the parts for a rig like Processor, Motherboard, ram, ssd ,psu and GPU-s. At this moment rated by many as the most ideal card to mine with based on cost/performance/energy consuming is the GTX 1060 3GB which will give you 290 sol/s overclocked +200 memclock and about 22.8 Mhash overclocked.

18 GPU of this kind would make profitability for you for a day in bitcoin 0.0066 btc with 5220 sol/s you would get from these cards.

Almost same or only a very fraction more of profitability you will be doing when mining Ethereum.

It is about 0.21 bitcoin a month which is not a value to be underestimated especially nowadays with the bitcoin price at these high levels.

It is highly recommended that you stay away from the gtx 1060 3GB variant. When ETH's dag size increases (very soon. current size is already at 2+GB) you will no longer be able to mine ETH using these cards. People tend to rather go for the 1060 6GB variants to ensure future usability.

[jijikill]

Make sure you verify that circuit is enough to handle such power. Otherwise you will be sad if you experience a power related issue.

Yes I took all the power into consideration, should not be a problem anything below 80 6 GPU mining rigs

[hanskan]

Make sure you verify that circuit is enough to handle such power. Otherwise you will be sad if you experience a power related issue.

Yes I took all the power into consideration, should not be a problem anything below 80 6 GPU mining rigs

Better be sure you need like 400AMP main circuit breaker for this large of an operation, must be in industrial area. It's impossible that you have that as a default one in residential area. Obviously can upgrade but is quite expensive.

[jijikill]

18 GPU should make you some really decent profit with your electricity rate. If I were you I would start buying all the parts for a rig like Processor, Motherboard, ram, ssd ,psu and GPU-s. At this moment rated by many as the most ideal card to mine with based on cost/performance/energy consuming is the GTX 1060 3GB which will give you 290 sol/s overclocked +200 memclock and about 22.8 Mhash overclocked.

18 GPU of this kind would make profitability for you for a day in bitcoin 0.0066 btc with 5220 sol/s you would get from these cards.

Almost same or only a very fraction more of profitability you will be doing when mining Ethereum.

It is about 0.21 bitcoin a month which is not a value to be underestimated especially nowadays with the bitcoin price at these high levels.

Wow, that's really profitable , I think I will start to buy parts but GPU is really difficult to source tho , btw thanks for the comment, too bad I have not enough money to buy more

[vectisitch]

with very low electricity i would be looking at cards with the highest hash rates and not worry too much about the power consumption. that way you maximise your profits

[khufuking]

If you have really cheap electricity you should go with mining BTC . You will save yourself the hassle of getting the right cards and the effort of setting up the rigs . If I was you I I have the money I would get myself an antminer s9 . much better than building a rig for an alt coin .

[jijikill]

Thanks for the advice, may I know what is the Cons of having BTC ASIC ? I saw many people say GPU mining rig is better than ASIC

[jijikill]

Certainly if I were you I would be going aggressively into mining with few gpu rigs and couple of  antminers S9 and L3 each in fact you can buy S7 which is very cheap in fiat terms but consumes more electricity and since you have a negligible electricity cost and low budget  used S7 are the perfect choice for you 

After everyone giving advice it really makes me think to buy Antminer but I don't see any stock around the market now

[jijikill]

In what country do you live, how is the temperature because in hot countries you need airco up and running 24/7 almost except evening sometimes.

My country is relatively hot so I will be preparing A/C for 24/7

[jijikill]

Make sure you verify that circuit is enough to handle such power. Otherwise you will be sad if you experience a power related issue.

Yes I took all the power into consideration, should not be a problem anything below 80 6 GPU mining rigs

Better be sure you need like 400AMP main circuit breaker for this large of an operation, must be in industrial area. It's impossible that you have that as a default one in residential area. Obviously can upgrade but is quite expensive.

Yes it's an industrial area , I have it safety check every often too so shouldn't be a issue, thanks for reminding haha

[khufuking]

Thanks for the advice, may I know what is the Cons of having BTC ASIC ? I saw many people say GPU mining rig is better than ASIC

I will tell you one thing do not hear anyone and just do you search . use whattomine and enter you numbers and see what is more profitable for you . If you are waiting to just hear what others thing trust me you will go no where ! you can make others opinion help you but you need to make your own search . because everyone have different opinion and trust me everyone have valid points for his opinion .