S9 in the UK... WORTH IT ???

[avizeke]

Hey all, forgive my ignorance as this is my first dive into the digital mining world and was looking at the S9 calculator and was trying to identify the profit margin if any if i was to buy a S9.

Intentions are to buy 10 s9's but before i invest i want to see it work. However i am stuck due to identifying the cost of a per kw/h against hash rate of an S9....

I believe the average  cost of KW/H is around 9 to 17 pence. However when using the calculater for the S9 it shows that its a minus 8k profit. Am i to assume that the UK electrical rate automatically exempts anyone from mining.

secondly what are you using in the uk for mining ?   and is it working for you ?

Thanks All

[shield132]

Hey all, forgive my ignorance as this is my first dive into the digital mining world and was looking at the S9 calculator and was trying to identify the profit margin if any if i was to buy a S9.

Intentions are to buy 10 s9's but before i invest i want to see it work. However i am stuck due to identifying the cost of a per kw/h against hash rate of an S9....

I believe the average  cost of KW/H is around 9 to 17 pence. However when using the calculater for the S9 it shows that its a minus 8k profit. Am i to assume that the UK electrical rate automatically exempts anyone from mining.

secondly what are you using in the uk for mining ?   and is it working for you ?

Thanks All

Minus 8K profit, I just checked nicehash's calculator with following price: 0.17 GBP/kWh (highest rate as you say..) but as I know prices in UK aren't more than 14 pence. Past earnings for one BITMAIN AntMiner S9 from nicehash seems to be 275GBP and this is pure profit. Not an expert in mining because really forgot that tasks (old miner) but I guess it's profitable, imagine man bitcoin is nearly 7000$ so how can it be unprofitable? It wasn't well profitable when price was low, nearly 1000-2000$, not it's very high.

[squall1066]

I mine in the UK and its BARELY profitable, in one setup I have 2x30amp with 4xs9 on each ringer, it costs me around £800 a month in power but I make half that again in profit, sounds quite nice but consider the cost of s9's and psu's and IMPORT DUTIES and you will see its roi is a long way away! so why do I do it? I use it in the winter for heating the house :-) lol with no heating costs in our harsh weather its a nice trade off.

personally I have a load of s9's sitting in hosting complexes, much better roi with added benefit if no import duties!

just some things to think about

[andytranter]

I mine in the UK and its BARELY profitable, in one setup I have 2x30amp with 4xs9 on each ringer, it costs me around £800 a month in power but I make half that again in profit, sounds quite nice but consider the cost of s9's and psu's and IMPORT DUTIES and you will see its roi is a long way away! so why do I do it? I use it in the winter for heating the house :-) lol with no heating costs in our harsh weather its a nice trade off.

personally I have a load of s9's sitting in hosting complexes, much better roi with added benefit if no import duties!

just some things to think about

+1 to that!

I have 1 Avalon 741 in the house which does a damn good job at keeping it warm in the winter. Come the summer time i will take it outside.

At 1150W it costs around £3-£4.40 per day, depending on your rates. My day rates are 16p per kwh, and night rates i dont know. my best guess is it costs ~£3 per day to run. Per THs you earn ~ $1.5 per day. Profit wise that is ~£4/day for me. I also consider that i have not turned the central heating on, and that probably saves £1-2 per day. I have just changed energy provider and i will start paying less for electricity - have you switched recently and got a good deal on electricity?


Like squall says - for any future purchases i will have them hosted so that i dont get hammered by the import VAT and duties. Additionally, i am happy with just 1 miner kept in house.