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Author Topic: Mining using wind / solar power  (Read 5093 times)
Gotottack
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October 10, 2017, 04:59:23 PM
#21

I cannot help but get surmised with this conversation! It is because I have thought about this not so very long time ago due to the impact of mining to electricity costs. Well, should this be possible, which I think is, I think although the initial investment is pricey, it can be compensated by lower electricity charges in the long run. It is just a matter of weighing possibilities and looking out to serve your needs without shedding much penny.

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October 10, 2017, 06:04:53 PM
#22

I cannot help but get surmised with this conversation! It is because I have thought about this not so very long time ago due to the impact of mining to electricity costs. Well, should this be possible, which I think is, I think although the initial investment is pricey, it can be compensated by lower electricity charges in the long run. It is just a matter of weighing possibilities and looking out to serve your needs without shedding much penny.

If electricity concerned you cannot start the mining with the small rig also. If you able to avail the free electricity or for cheap price you will be able to manage the mining for altcoins with the GPU mining itself.
Solar miners are costly set up option and you cannot make more money if starts as small scale one.

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October 10, 2017, 07:55:34 PM
#23

I am curious to know if anyone on the forum has used other energy alternatives for mining "Wind /Solar"

I live out on a farm and using wind and solar are my means of living, a few of us are looking at setting up some mining rigs
though I am interested in the statistics of using cleaner energy for mining and if people have had much success.

Thanks Smiley

My opinion for your Mining project is Solar.Why because ,for Solar panels you are going to inverse only once .After it tally all the Money spend for implementation. The remaining Electricity is you get free of Cost.And Solar enery you get all the time .Where as Wind will vary.And for solar panels, cost of investment is very low compared to Wind.
I have never tried solar but there is no doubt it is a good source of generating electricity free.
However, it is good to consider the fact that these solar panels also need maintenance and what is the cost of maintenance like and how often? If everything is put together, comparing it with the normal electricity that you have to pay for, is it really worth it ?

Solar panels are quite expensive to set up too and you would not want to end up investing too much until you realize it was a huge mistake.

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StarofBTC
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October 11, 2017, 12:52:05 AM
#24

In mining most important thing is that energy source to do mining process and it is also the most expensive thing when we use eletricity.So we can use solar and wind energy to drive the mining rig and this also give us most profits than normal electricity.
But this kind of mining needed one time vast capital because wind turbine and solar panels afe very expensive.If yku can afford to buy it then you will have make profits.
It can only be expensive if you are paying a huge electricity bill. There are some places that the electricity bill is minute and you can easily get your returns pretty fast. Electricity has always been the main bone of contemption when it comes to mining and if that can be a bit solved, then the rest is just history. However, like you said, if setting up these other means wont be too expensive most especially in maintenance and can serve you for a very long time, then I see no reason why it wont be a good idea.

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October 11, 2017, 01:30:38 AM
#25

If you are able to invest a big money in wind/solar infrastructure in a right place you will see a profit, if now, just relocate to place, there are grid is cheaper
also good link
https://ilsr.org/solar-cheaper-grid-electricity-yes-no/
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October 11, 2017, 02:33:06 AM
#26

it seems that mining using wind power is perfect for farming areas,, you can save electricity costs up to 30%,.
I've tried this way,., and proven 30% of the cost for reduced electricity usage ..
but due to lack of maintenance with the device I run for only two months and my device is having problems, so it is better for routine maintenance on all devices.,..

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October 11, 2017, 10:05:03 AM
#27

The idea of using green electricity seems cool to me, but I think it's only interesting if you have large farm in a sunny or windy location, considering you're mining 24/7. Bonaire could be such a place, not so much crime there either. But it's always 28 degrees Celsius out there so you need a lot of cooling power
It is surely very cool, but it is not about being cool alone, it is about being profitable since that is the main idea initially. For some place with a good solar energy, generating electricity via solar panel is good and as well the cost implication of setting up a cooling system for your rigs should also be taken into consideration. Mining is not trial and error, you just have to get it right.

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October 11, 2017, 10:39:43 AM
#28

The idea of using green electricity seems cool to me, but I think it's only interesting if you have large farm in a sunny or windy location, considering you're mining 24/7. Bonaire could be such a place, not so much crime there either. But it's always 28 degrees Celsius out there so you need a lot of cooling power
It is surely very cool, but it is not about being cool alone, it is about being profitable since that is the main idea initially. For some place with a good solar energy, generating electricity via solar panel is good and as well the cost implication of setting up a cooling system for your rigs should also be taken into consideration. Mining is not trial and error, you just have to get it right.

If the location finds more summer it is possible to start installing the solar panels to mines with the solar mining rig. You need to check the cost efficiency you have to invest to start that. I have found many of the people says that solar mining is not profitable if starts as a small scale business. Go with ASIC instead being worry about all these big solar set-up.

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October 11, 2017, 12:58:54 PM
#29

I see some very interesting videos about solar mining and I like idea to use clean energy to mine bitcoin.In this case initial investment is higher because we need to buy solar energy equipment+mining equipment.I read intersting article on this topic and writer say that this type of mining pays itself in period of 2 years,but he add another approach to this business-to sell some of the produced electricity to the grid.

In any case, everything needs to be thoroughly calculated before any kind of such investment,mining is not a child's play.

Interesting to read : https://www.greentechmedia.com/articles/read/solar-powered-bitcoin-mining-could-be-a-very-profitable-business-model#gs.T=aK9_s

Interesting to watch : https://www.youtube.com/watch?v=5Ssfz_lm9lM
Embarking on mining this way really need a lot of calculation just as you said and some feasibility studies considering the environment. Committing such a huge amount of money, it is a point of no return once done and obviously no one would want to be running losses when they should be making substantial amount of money to even get back the ROI.

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dagon666
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October 12, 2017, 12:06:50 AM
#30

I see some very interesting videos about solar mining and I like idea to use clean energy to mine bitcoin.In this case initial investment is higher because we need to buy solar energy equipment+mining equipment.I read intersting article on this topic and writer say that this type of mining pays itself in period of 2 years,but he add another approach to this business-to sell some of the produced electricity to the grid.

In any case, everything needs to be thoroughly calculated before any kind of such investment,mining is not a child's play.

Interesting to read : https://www.greentechmedia.com/articles/read/solar-powered-bitcoin-mining-could-be-a-very-profitable-business-model#gs.T=aK9_s

Interesting to watch : https://www.youtube.com/watch?v=5Ssfz_lm9lM
Embarking on mining this way really need a lot of calculation just as you said and some feasibility studies considering the environment. Committing such a huge amount of money, it is a point of no return once done and obviously no one would want to be running losses when they should be making substantial amount of money to even get back the ROI.

Awesome, this is exactly what we are looking for. With the planning we have been working out costs and solutions for a while and in the end of the day it is an investment that could go well or turn sour if not planned correctly, there is no doubt clean energy is the way of the future & we have been also looking into Tesla batteries though that would be later down the track Smiley
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October 12, 2017, 03:30:24 AM
#31

I see some very interesting videos about solar mining and I like idea to use clean energy to mine bitcoin.In this case initial investment is higher because we need to buy solar energy equipment+mining equipment.I read intersting article on this topic and writer say that this type of mining pays itself in period of 2 years,but he add another approach to this business-to sell some of the produced electricity to the grid.

In any case, everything needs to be thoroughly calculated before any kind of such investment,mining is not a child's play.

Interesting to read : https://www.greentechmedia.com/articles/read/solar-powered-bitcoin-mining-could-be-a-very-profitable-business-model#gs.T=aK9_s

Interesting to watch : https://www.youtube.com/watch?v=5Ssfz_lm9lM
Embarking on mining this way really need a lot of calculation just as you said and some feasibility studies considering the environment. Committing such a huge amount of money, it is a point of no return once done and obviously no one would want to be running losses when they should be making substantial amount of money to even get back the ROI.

Awesome, this is exactly what we are looking for. With the planning we have been working out costs and solutions for a while and in the end of the day it is an investment that could go well or turn sour if not planned correctly, there is no doubt clean energy is the way of the future & we have been also looking into Tesla batteries though that would be later down the track Smiley

This is a good alternative for electricity supply. But isn't it more expensive to run your miners with solar panels?

- solar panels are expensive, how much does a 1 watt panel cost and an ant miner is like 1300 watts.
- how much will it cost you for maintaining the panels until ROI?
- since it is solar it will only work during daytime max of 12-13 hrs per day, unless you will use a battery to store the electricity which will be added to your cost and has a maximum number of charging allowed.
- in case a typhoon hit you your panels are at risk of being damaged need to keep them first.

Here is my suggestion, why not contact a company who is in renewable power industry and buy the power from them at lower cost. you can even try to have your miner placed near their distribution facility. By doing this they are the one who will worry for the maintenance of the panels and they can give more much cheaper price than the market for this.

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October 12, 2017, 08:22:13 AM
#32

If we are using green energy its really good idea, but solar energy is far better than wind energy. cost of solar energy set up is cheaper than wind energy setup. If you already have set up of solar energy for your business place or home  then its profitable to use the same electricity for mining. otherwise its not affordable. Solar or wind energy needs storage systems like batteries etc. which are very expensive. If you are 24x7 hard core miner then only it will be profitable.

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October 13, 2017, 03:53:06 AM
#33

I have never heard or seen anyone have mining using the wind / sun. But I think this will reduce a little need for mining, mining requires electricity for 24 hours non-stop. If we use the wind / sun, it is a good idea, no need to pay for electricity and you will get free electricity.

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October 13, 2017, 06:28:47 AM
#34

I think this is a really good idea that will most likely be exploited in the near future. It could reduce electricity bills by a lot for bigger mining facilities!
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October 13, 2017, 09:34:23 AM
#35

Good idea. Take a look :
https://www.amazon.com/gp/aw/d/B01DXREBIS/ref=mp_s_a_1_5?ie=UTF8&qid=1507887095&sr=8-5&pi=AC_SX236_SY340_QL65&keywords=wind%2Benergy%2Bkit&dpPl=1&dpID=41oEBqSFF1L&ref=plSrch&th=1&psc=1
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October 13, 2017, 09:53:01 AM
#36

I am curious to know if anyone on the forum has used other energy alternatives for mining "Wind /Solar"

I live out on a farm and using wind and solar are my means of living, a few of us are looking at setting up some mining rigs
though I am interested in the statistics of using cleaner energy for mining and if people have had much success.

Thanks Smiley

sure! you can use solar power!
but to reach roi, you will need years!
jou just think, who you will be able to minin just when the sun shine... so, just for 12H and not 24H.
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October 13, 2017, 02:39:04 PM
#37

I have never heard or seen anyone have mining using the wind / sun. But I think this will reduce a little need for mining, mining requires electricity for 24 hours non-stop. If we use the wind / sun, it is a good idea, no need to pay for electricity and you will get free electricity.
Remember that free electricity does not happen. You need to buy equipment which is very expensive and you will recoup it over the years. It seems to me that it is better to invest the money in additional equipment and get more profit from. I don't know the technology of renewable energy which have profitability.

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October 14, 2017, 12:39:02 PM
#38

I have never heard or seen anyone have mining using the wind / sun. But I think this will reduce a little need for mining, mining requires electricity for 24 hours non-stop. If we use the wind / sun, it is a good idea, no need to pay for electricity and you will get free electricity.
Remember that free electricity does not happen. You need to buy equipment which is very expensive and you will recoup it over the years. It seems to me that it is better to invest the money in additional equipment and get more profit from. I don't know the technology of renewable energy which have profitability.
Actually, with the whole "eco-trend", there is a huge possibilities that you can get government help when buying wind turbines or sun panels. I mean, it's not like they are going to fund you them to mine bitcoins, but I'm aware of many programs and funds that can pay even up to 90% for these equipment to help transition private houses into eco-friendly and self-sufficient. And as your miner is in your house, and your house gets electricity from nature, your miner gets that free electricity from almost free equipment. It's worth researching requirements of such promotions in your country.
Rajat97
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October 14, 2017, 01:24:01 PM
#39

I am curious to know if anyone on the forum has used other energy alternatives for mining "Wind /Solar"

I live out on a farm and using wind and solar are my means of living, a few of us are looking at setting up some mining rigs
though I am interested in the statistics of using cleaner energy for mining and if people have had much success.

Thanks Smiley
You really should try this out. I dont know whether it would provide enough power but is worth a shot.
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October 14, 2017, 04:50:00 PM
#40

I think the decision becomes a lot simpler when you look at the two things separately.  1) can you mine in your area and be profitable? 2) Does the solar/wind generation in your area provide ROI in an acceptable timeline for you?

If you can answer yes to both those questions after some heavy analysis then there is no reason to not combine them.

My opinion is that solar/wind should be thought of as tool to reduce overall power costs.  Sell the power generated back to the grid (reduction in overall bill, and free from needing to scale at same rate as mining).  Then have miners on grid for stable 24/7 power supply, with an option for a short term switch to battery backup in case of grid interruption.  Specifically with Solar you would need some thought put into power generating times, and understanding when it is worth while to sell the power to the grid VS charging your batteries / using the power for yourself.
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