Mining with Zero electricity costs - right setup?

[Mummpl]

Hi,

I’m an absolute noob and don’t really know anything about mining any kind of coins.

My situation is that I have free access to electricity in my building and I would like some advise for picking the right currency to mine and the respective gear to buy.

I hope you guys can help me!

Cheers

[Sandal_Hat]

Who is paying for the electricity? They allow it to be used? Bare in mind that mining uses so much power people in the building will notice.

[B1tUnl0ck3r]

Who is paying for the electricity? They allow it to be used? Bare in mind that mining uses so much power people in the building will notice.

trustless world.

[Mummpl]

Who is paying for the electricity? They allow it to be used? Bare in mind that mining uses so much power people in the building will notice.

I live in a student residence with a flat rent including water and electricity. My renting contract allows me to use up to 10kW. I assume that „commercial“ use of the power is not really welcomed by the landlord but on the other hand it doesn’t say so explicitly in the contract and I’m also using my computer and phone commercially which I do charge with the same power.

I was thinking about one or two bitcoin miners but then thought there might be more economic ways of mining.
For Bitcoin i found the Antminer S7 (https://www.buybitcoinworldwide.com/mining/hardware/antminer-s7/) which would amortize itself within 4-5 Months at the present bitcoin price. It uses about 1,4kW so starting with one an maybe upgrading to 2 or a maximum of 3 in the future would be well covered by my contract.

Any other suggestions for mining hardware / different currencies to mine? I would like to spent no more than 500€ for the beginning.

[patofet]

You can try to mine ethereum with nvidia gtx1070 or something like that but be aware about heat, I have something similar of you(100% legal) and I can't live the same room that I have like 4x gtx1070

[realaccountakira]

Who is paying for the electricity? They allow it to be used? Bare in mind that mining uses so much power people in the building will notice.

I live in a student residence with a flat rent including water and electricity. My renting contract allows me to use up to 10kW. I assume that „commercial“ use of the power is not really welcomed by the landlord but on the other hand it doesn’t say so explicitly in the contract and I’m also using my computer and phone commercially which I do charge with the same power.

I was thinking about one or two bitcoin miners but then thought there might be more economic ways of mining.
For Bitcoin i found the Antminer S7 (https://www.buybitcoinworldwide.com/mining/hardware/antminer-s7/) which would amortize itself within 4-5 Months at the present bitcoin price. It uses about 1,4kW so starting with one an maybe upgrading to 2 or a maximum of 3 in the future would be well covered by my contract.

Any other suggestions for mining hardware / different currencies to mine? I would like to spent no more than 500€ for the beginning.

Well that clears it up. I guess you are in the clear if they explicitly say that you can use up to 10kW and have no provision for any "commerical" use of electricity.

Just make sure they don't hear or notice your miners. If you use ASICs the noise could end up being so loud (without major DIY modifications) that your landlords start making inquiries on what you are doing. Given this, I would recommend building GPU rigs as they are more quiet and don't make the room as warm as what ASICs would. Some 2nd hand R9 Fury GPUs would be good for faster ROI.

[B1tUnl0ck3r]

Who is paying for the electricity? They allow it to be used? Bare in mind that mining uses so much power people in the building will notice.

My renting contract allows me to use up to 10kW.

max it out and live somewhere else

[Raist]

Who is paying for the electricity? They allow it to be used? Bare in mind that mining uses so much power people in the building will notice.

My renting contract allows me to use up to 10kW.

max it out and live somewhere else

Great idea to make this place some sort of "pit". But you will have hard time to assure your landlord that you are not using those 10Kw for non-commercial purposes.

[leonix007]

Who is paying for the electricity? They allow it to be used? Bare in mind that mining uses so much power people in the building will notice.

I live in a student residence with a flat rent including water and electricity. My renting contract allows me to use up to 10kW. I assume that „commercial“ use of the power is not really welcomed by the landlord but on the other hand it doesn’t say so explicitly in the contract and I’m also using my computer and phone commercially which I do charge with the same power.

I was thinking about one or two bitcoin miners but then thought there might be more economic ways of mining.
For Bitcoin i found the Antminer S7 (https://www.buybitcoinworldwide.com/mining/hardware/antminer-s7/) which would amortize itself within 4-5 Months at the present bitcoin price. It uses about 1,4kW so starting with one an maybe upgrading to 2 or a maximum of 3 in the future would be well covered by my contract.

Any other suggestions for mining hardware / different currencies to mine? I would like to spent no more than 500€ for the beginning.

Well that clears it up. I guess you are in the clear if they explicitly say that you can use up to 10kW and have no provision for any "commerical" use of electricity.

Just make sure they don't hear or notice your miners. If you use ASICs the noise could end up being so loud (without major DIY modifications) that your landlords start making inquiries on what you are doing. Given this, I would recommend building GPU rigs as they are more quiet and don't make the room as warm as what ASICs would. Some 2nd hand R9 Fury GPUs would be good for faster ROI.

Consider also your electrical wiring designs, is the 10kw contract really be true then check the building wires going to your planned locations, check also the breakers.

mining is a fire hazard when not carefully considered those electrical designs

I bet you don't wanna burn building someday

[cvsea]

You should provide hosting services to others with rigs in your area  for a fee = no risk for you.
Whatever gear you buy now might not make a dime in a couple of weeks.

If you do fill the entire 10kw, will you live in the same place? With all that noise and heat?
Think it trough before you go spending any money.
If you must, buy high end cards that fit your budget and read this forum a few hours a day and you'll be a pro like everybody else around here.
rx 570/580 are your best bet with the important nvidia coins getting asic attention.

[leowonderful]

As for cheap miners, it’s usually possible to get the Antminers V9s for near MSRP individually as they’re generally not in very high demand right now. Great bang for your buck with them, or you can try ordering the new T9+s from Bitmain. IIRC there is a member selling his V9 for $150 and FS within the continental US in the Computer Hardware section right now, couldn’t hurt to take a look at that. Just keep in mind most ASIC miners are very loud, comparable to a vacuum cleaner for the S9/T9/V9 and many others.

[jillscarbrough]

good, you have no problem with electricity but whatever you use with Mining Hardware, mining will generate heat and noise. Now you have to think of a "reduction for that".