Bitcoin Mining in Inherited Apartment in a small town in Kazakhstan?

[anzm91]

Hi everyone,

I’m living in Germany and considering getting into Bitcoin mining, but with a bit of an unusual setup.

My grandmother from Kazakhstan sadly passed away this year, and my father is unsure what to do with her apartment in Kazakhstan – whether to sell it, rent it out, or keep it. I had the idea to keep the apartment and use it for Bitcoin mining instead of letting it sit unused.

The basic plan: I’d buy an Antminer (e.g., the S19K Pro or something similar) and run it there – possibly two or three devices. The apartment would have no other electricity usage besides the miners. Since winters there are extremely cold, cooling wouldn’t be a big issue. During the summer, I could simply shut everything down and maybe use the place for vacation.

Before I dive deep into researching electricity rates, ASIC import logistics, remote management, noise, heat, etc., I’d love to hear from people with real-world mining experience:

Is this kind of setup even fundamentally profitable these days?

ChatGPT says yes – especially considering low electricity prices in Kazakhstan – but I wanted to get insights from folks who’ve actually mined before or are currently mining.

I’d also really appreciate any thoughts on:
– Which ASICs are most worth it (new or used)?
– Expected lifespan if used mainly during cold months?
– Issues I might run into when managing it remotely?
– Risks like noise complaints, downtime, or power issues?

Thanks in advance for any input!

[philipma1957]

Hi everyone,

I’m living in Germany and considering getting into Bitcoin mining, but with a bit of an unusual setup.

My grandmother from Kazakhstan sadly passed away this year, and my father is unsure what to do with her apartment in Kazakhstan – whether to sell it, rent it out, or keep it. I had the idea to keep the apartment and use it for Bitcoin mining instead of letting it sit unused.

The basic plan: I’d buy an Antminer (e.g., the S19K Pro or something similar) and run it there – possibly two or three devices. The apartment would have no other electricity usage besides the miners. Since winters there are extremely cold, cooling wouldn’t be a big issue. During the summer, I could simply shut everything down and maybe use the place for vacation.

Before I dive deep into researching electricity rates, ASIC import logistics, remote management, noise, heat, etc., I’d love to hear from people with real-world mining experience:

Is this kind of setup even fundamentally profitable these days?

ChatGPT says yes – especially considering low electricity prices in Kazakhstan – but I wanted to get insights from folks who’ve actually mined before or are currently mining.

I’d also really appreciate any thoughts on:
– Which ASICs are most worth it (new or used)?
– Expected lifespan if used mainly during cold months?
– Issues I might run into when managing it remotely?
– Risks like noise complaints, downtime, or power issues?

Thanks in advance for any input!

if you add the epic controller you can run it quietly at reduced hash rates.

I sell these
https://www.ebay.com/itm/156984520065

the 3 board rate is 190 2

I run 2 board in it and do 100th

this earns $5.80 a day and burns 46kwatts at 3 cents that is 1.38
so 5.80-1.38= 4.42 daily profit for a unit

[FP91G]

Hi everyone,

I’d also really appreciate any thoughts on:
– Which ASICs are most worth it (new or used)?
– Expected lifespan if used mainly during cold months?
– Issues I might run into when managing it remotely?
– Risks like noise complaints, downtime, or power issues?

Thanks in advance for any input!

In Kazakhstan, electricity costs about the same as in Russia, averaging 5-8 cents. In an apartment in a small city, you can install 1-2 ASIC miners with a total power of no more than 7 kilowatts, and you will likely face inspections for high energy consumption. The authorities in Kazakhstan are also fighting against illegal mining.

I don't understand how you will manage the equipment from Germany. I mean the maintenance of the equipment as well.I don't want to talk about noise and other issues, but unfortunately, your energy consumption in the apartment is limited, and mining is illegal. Due to the low profit, I wouldn't take the risk.

Consider renting out the apartment; it might be more profitable and it's legal, or sell it.

[ABCbits]

My grandmother from Kazakhstan sadly passed away this year, and my father is unsure what to do with her apartment in Kazakhstan – whether to sell it, rent it out, or keep it. I had the idea to keep the apartment and use it for Bitcoin mining instead of letting it sit unused.

It's unrelated with mining, but i'd do research about feasibility of renting an apartment when you live in different country. I expect it'll be a challenge, since you can't easily go there if something gone wrong.

The authorities in Kazakhstan are also fighting against illegal mining.

In addition, that they performed large scale mining equipment confication in past[1]. While the government have plan to create cryptocurrency reserve[2], i unable to find news they would allow cryptocurrency mining again.

[1] https://www.thestreet.com/crypto/news/kazakhstan-confiscates-almost-200-million-in-crypto-mining-equipment
[2] https://bitcoinmagazine.com/news/kazakhstan-plans-to-establish-bitcoin-and-crypto-reserve