I have 50k to start a farm , how would you do it.

[smokeyfish]

I have 4 years mining experience, 15 years computer oriented HVAC and server maintenance experience.
This is my first expansion out of gpu's for crypto mining.

So, I took out 50k in BTC for a mining expansion. Ive been looking over what I know. From the d3's to l3+ to s9's to avalon and canaan maybe there are more i am missing. Ive compared past difficulty increase and projected them onto future speculations. Ive added figures to calculators and took into effect past and future releases to se how they will impact the difficulty. But still I am only one person so here I am looking to see what YOU would do as well.

What would you get with 50k for your farm.
How would you start your farm with 50k.

Id love to hear other peoples opinions and advice.

[Entropy-uc]

50k is just hobby size at this point.  [Actually I spent double that on my hobby FPGA SHA-256 project in 2012.]  What are you trying to accomplish?  Do you have a location to operate gear?  How much power is available?  What does the power cost?  How close are your neighbors, and how are they going to feel about the noise?

We are deep into the third (maybe 4th depending on how you count) gold rush phase of crypto mining.  Late investors in gold rushes usually get scalped.  Be cautious.

[NotFuzzyWarm]

First - learn to post in the right areas. Browse the Forum for a day or so to get he lay of the land. Know that all cryptocoins are NOT Bitcoin. Bitcoin is a specific coin with very specific hardware needs. All other coins are call altcoins. Do NOT get them confused.

Example, this query belongs in Mining Speculation area Post i the right areas and ya get decent replies. Post in wrong area and it WILL be moved.

2nd read Bitcoin Mining 101 Point one mainly applies to BTC, GPUs are needed for most altcoins, only 2 altcoins now require ASIC's like BTC does.

3rd, IF you have the power available and IF you can deal with the heat and noise, only then decode if mining is really for you,

4Th -- decide what coin to mine and go for it.

[AtraxPool]

Good luck finding 50k worth of asic miners.. They are a finite resource just like bitcoin right now.

Canna sold out of the avalons you can't buy a single unit from them but they are still offering pallets of them at 49k (sounds fishy to me )

Plus this is about the 1000000000000000 topic where people come in shouting I've got 50k - 100k bla bla..

Know how many of them turn out to be real.... NONE...  or Very Very few ever produces a 50-100k mine. 

Most of these post are nothing but spam to boost post count..

Try the search button you will find over 5000+ similar posts.

Good Luck..

[smokeyfish]

I have no trouble finding asics right now, I have a place for relaxation in Guangzhou outside of Shenzhen and there are many distributors there. Also back in the states I am in the pacific northwest and my electricity is .08 kwh. I have enough electricity in my warehouse . It is just not worth to wait for the release because of the difficulty increase by the time the nov release is out.
 The best I heard from anyone yet was the dud who said to get a cannan . The avalon are sick, I been trying to get in touch with them for weeks

[QuintLeo]

Also back in the states I am in the pacific northwest and my electricity is .08 kwh.

 The FIRST thing I would do is to locate a viable place to mine in with a MUCH lower price for electric.

 Even the S9 is starting to get a little marginal for profitability at 8 cents/kwh electric cost.

 If you're in the PNW already, you're pretty bloody close to where you can get THE LOWEST cost electric in the USA at about 3 cents/kwh all up cost.

 Ever wonder why most big US farms like MegaBigPower / Gigawatt or Toomin Brothers are where they are at?



 I almost got a place this spring that would have been less than a mile from Toomin Brothers, ended up a bit further away but in the same close area in a space with lower rent and better cooling options (but smaller).

[Miningstore]

I would simply recommend purchasing a hosted rig farm. You will pay an upfront cost for your rig and then a small monthly fee, but the hosting center you purchase from will maintain your rig and you can have truly passive income

[European Central Bank]

I would simply recommend purchasing a hosted rig farm. You will pay an upfront cost for your rig and then a small monthly fee, but the hosting center you purchase from will maintain your rig and you can have truly passive income

there's a reason why real miners do it for themselves. you can't depend on anyone else to do it for you without them trying to rape you. there ain't too many honest players when it comes to crypto.

What would you get with 50k for your farm.
How would you start your farm with 50k.

Id love to hear other peoples opinions and advice.

the first thing i'd do is keep my powder dry to see what the deal is with chinese mining and the rumors of a ban. no one knows if it's true or not, but if it is then that's gonna have a huge effect on the difficulty and the availability of machines. i guess we'll know more in the coming weeks.

[Thetaj]

To the OP, 50k is way too small to start mining as a serious endeavor. Maybe try 150k?

In this day and age, you'd need at least about ~1Ph to be a relavant mine to be honest.

From my own operations, I started out with 1PH and am starting to slowly ramp up to hopefully 2PH by the end of this year.

Electricity will be your primary concern. A stable internet connection and also a relatively clean environment will be the defining factor in how much money you make back (if at all).

Please also be advised that the cost of running a mine grows exponentially as time passes. You will need to clean the machines, you will need electricians to check on wiring if you cannot do it yourself (and lets face it, no one can). Temperatures, Electrical contacts (if exposed, some people run alot of exposed circuits)

[GMPoison]

1. Rewind time to a month or two ago.
2. Get lucky enough to purchase a bunch of L3+'s directly from Bitmain for the August, September, or October batch.
3. Profit.

On a serious note, anyone who says it's too late to get into mining or that $50,000 is too little of an investment is just bullshitting. The best but probably most risky thing for you to do is to wait for Bitmain to release another batch of L3+.

[Entropy-uc]

1. Rewind time to a month or two ago.
2. Get lucky enough to purchase a bunch of L3+'s directly from Bitmain for the August, September, or October batch.
3. Profit.

On a serious note, anyone who says it's too late to get into mining or that $50,000 is too little of an investment is just bullshitting. The best but probably most risky thing for you to do is to wait for Bitmain to release another batch of L3+.

I don't bullshit, and you ought to look at my history before you try talking shit.

50k is either too much or far too little depending on your viewpoint.  It's too much to spend on a hobby project, and it's far too little for commercial scale.

Lets say OP is foolish enough to take your advice and chase the finished Scyrpt mining gold rush.  Lets make a budget.

L3+  $2280 (oops looks like you're paying all the profits to Jihan in advance)
Power Supply $100
Shipping    $80

For $2460 a box.  Great!  I can get 20 for my $50k.  Except 20 takes 16 kW which is way more than you are going to run or cool in any ad hoc location.

So now you need to find a location to rent or buy and modify the electric and cooling to suit.

Whoops.  Now I only have about $25k to spend...  And those 10 boxes aren't even going to earn enough to cover the rent and electric bill, let alone pay back the $50k you are out of pocket.

[GMPoison]

1. Rewind time to a month or two ago.
2. Get lucky enough to purchase a bunch of L3+'s directly from Bitmain for the August, September, or October batch.
3. Profit.

On a serious note, anyone who says it's too late to get into mining or that $50,000 is too little of an investment is just bullshitting. The best but probably most risky thing for you to do is to wait for Bitmain to release another batch of L3+.

I don't bullshit, and you ought to look at my history before you try talking shit.

50k is either too much or far too little depending on your viewpoint.  It's too much to spend on a hobby project, and it's far too little for commercial scale.

Lets say OP is foolish enough to take your advice and chase the finished Scyrpt mining gold rush.  Lets make a budget.

L3+  $2280 (oops looks like you're paying all the profits to Jihan in advance)
Power Supply $100
Shipping    $80

For $2460 a box.  Great!  I can get 20 for my $50k.  Except 20 takes 16 kW which is way more than you are going to run or cool in any ad hoc location.

So now you need to find a location to rent or buy and modify the electric and cooling to suit.

Whoops.  Now I only have about $25k to spend...  And those 10 boxes aren't even going to earn enough to cover the rent and electric bill, let alone pay back the $50k you are out of pocket.

You need to chill, I wasn't calling you out specifically. You said nothing that I didn't agree with. You said if you were to invest in miners to be cautious. I agree. You said that late investors usually get scalped. I agree.

The gold rush may be over for you, but that's relative. Relative to you, profits these days aren't good enough to chase - apparently. Relative to me and a lot of others, the money you can still possibly make investing in mining is ludicrous. The operative word here is "possibly". Of course it's risky, but that doesn't mean my advice of "yes, you can invest in mining with $50k" is foolish by any stretch of the imagination.

[prodigys]

good luck on ur setup, hope u to be succeed and post some photo