Want to create own mining-farm (newbie)

[nikomlr]

Hello guys, I got about 5.000€ to invest now - but I'm going to invest much more if this works out.
I'm thinking about getting the Antminer S9 + PowerSupply and an Avalon 471 + Power supply for the beginning.
I used the site "cryptocompare" and it told me I would get
with Antminer S9 about 700€ Profit each month with 14TH/s, 1300W and 0.30 KW/h (€)
with Avalon 741 about 350€ Profit each month with 7TH/s, 850W and 0.30 KW/h (€)
Is this really possible or is it the lack of knowledge which leads me astray?
Seems to be so easy..

[mickymax777]

I do not find mining easy, but I believe it to be a great investment you actually "create" your own coins. The profitability may not look great when you start but the value of the coins increase and that is what you want.

All the best with your ventures.

[mocacinno]

Hello guys, I got about 5.000€ to invest now - but I'm going to invest much more if this works out.
I'm thinking about getting the Antminer S9 + PowerSupply and an Avalon 471 + Power supply for the beginning.
I used the site "cryptocompare" and it told me I would get
with Antminer S9 about 700€ Profit each month with 14TH/s, 1300W and 0.30 KW/h (€)
with Avalon 741 about 350€ Profit each month with 7TH/s, 850W and 0.30 KW/h (€)
Is this really possible or is it the lack of knowledge which leads me astray?
Seems to be so easy..

I didn't re-do your calculations, but 700€/month is might be possible at the current BTC price and difficulty
However, before jumping in, you need to realise the following things:

• If the BTC price drops, so does your profit
• If the diff rises (more miners enter the network), your profit plummets
• If your antminer breaks after the 90 days limited warrantee period, you're scr*wed (and those things seem to break quite easily). Even if it breaks within the first 90 days, you need to realise that chinese warrantee isn't the same kind of warrantee we're used to in western countrys
• If you live in the EU, do know there usually are rather big custom's charges when importing ASIC's
• Most recent ASIC's are loud, and produce a lot of heat

So, bottom line, expect to pay more for your antminer than the price that is advertised on the seller's webpage (and a lot of those resellers turn out to be scams to, so be carefull). And once you're running your ASIC, prepare to see your profits going down a lot faster than you anticipated...
If, for some reason, you have calculated all these odds, and you still think it's a good idear: sure... why not... give it a try

[Sall-Mo]

I don't think mining is a good way to earn BTC. Now, mining is more demanding for computers, and it is not always profitable.
However, investment in BTC is inherently risky,But if you have a better idea, I think I'll be convinced.

[mocacinno]

I don't think mining is a good way to earn BTC. Now, mining is more demanding for computers, and it is not always profitable.
However, investment in BTC is inherently risky,But if you have a better idea, I think I'll be convinced.

I bolded a common mistake: the era where you could mine bitcoin using your CPU or GPU has long gone...
Mining is still a viable way to earn some BTC, BUT you need a very good electricity price, a good plan, a good location, enough startup capital and a lot of luck.

[neverluckymofo]

I do not think that mining is very feasible unless the electricity cost are low wherever you are farming at. Nonetheless, good luck in your venture.

[Rodrigo Santos]

You’re probably not going to get rich by mining Bitcoins at home unless you buy some heavy duty equipment and have very low electricity costs.
However this result can change depending on the change in mining difficulty and most importantly the change in the price of Bitcoin.