Looking to build a 200k$ mining farm. Asking for answers!

[Neolysnake]

Dear all,

I currently have the possibility to invest in a farm as the title says. Now I have a lot of questions and would like to see if some people can answer my questions if possible. Thank you in advance!

1 - What should I take in consideration?
I have a small rig of 6 GPU's mining on NiceHash, but other than that, not much experience... I am sure there are some red flags.

2 - What material should I buy?
I'm looking for the best ROI at the beginning in order to pay back cards, later it can go down it doesn't matter much. Not considering ASIC's because I can always resell GPU's.

3 - What to mine?
Nicehash? I know there are plenty of other options, but we do get paid in BTC and don't have to worry much about an algorithm.

4 - What is the best way to install my cards?
Is there a best way to install them? Like a pattern or?
   - How to cool down the room?
I have a few options, I can use air-conditioning or a zero degree room. Also, I've heard of water-cooling...

5 - Am I missing something?
As you can see, we need to plan and act but before that, I'd rather ask help from professionals!

Thank you very much for your help!

[deskless]

where are you building the farm?

[Neolysnake]

where are you building the farm?

In France,
Electricity wise, first we have a deal as it's included. Then they will readjust. Price is about 0.8$/kw here.
In terms of tax, we will hire a lawyer who will tell us what's the best course.

[deskless]

are you sure you will make profit with $.80 per kwh ?

[dagarair]

if you are asking these type of questions.... you really should not take peoples money and do this.  You should be versed in this stuff.  Not bashing you, just tossing avice your way.  I have way more than that in my personal farm but I knew what direction I wanted to go 3 years ago...

You bringing up nicehash to be honest scares me.

[Neolysnake]

if you are asking these type of questions.... you really should not take peoples money and do this.  You should be versed in this stuff.  Not bashing you, just tossing avice your way.  I have way more than that in my personal farm but I knew what direction I wanted to go 3 years ago...

You bringing up nicehash to be honest scares me.

Yes, you are right.
I am not taking anybody's money, I am working with someone and we want to do it together. Not planning to do it tomorrow nor if not profitable etc... Just planning at the moment.

Nicehash is just the easiest way for me for my small rig as I don't pay electricity and it's remote (4 GPU). Though I know that it's better to be on a mining pool, especially with that amount of Hash power.

Let say we have enough cash for this opportunity, and we want to see if it's going to be profitable or not. If not, I won't throw money away!

@deskless, Technically yes, but it always depends on bitcoin's price for sure.

[johny78]

With such big investment i would personally wait for next gen gpus
Mining isnt so profitable atm , and we are still in btc downtrend
equihash asics on the way, next gen gpus on the way, 1080ti still overpriced
Entering mining you need to think longterm now, 3 month roi is over
my 1080ti's still didnt roi , if btc hit 4-5k $ i will just shutdown my rigs and wait for better time to mine, i wont sell them,  0,17$ kwh here

[yrk1957]

$0.8 is 80 cents. I don't think you mean that. Maybe 8 cents which is $0.08.

GPUs are in tough spot right now. Prices are coming down slowly though. I would suggest to also have ASICs in the mix.

[huynhdat1989]

0.8$/kwh ís not profitable for mining. It will take you forever to ROI. After you reach your ROI, you will need to replace your mining hardware.

[fanatic26]

If you want to build a mining farm you need to go asic. Id focus on bitcoin or litecoin. GPU rigs are trash compared to ASIC. They cost more to build, more to maintain, have software problems, among other things. There are 30 failure points alone on a standard 6 card rig.

[xxcsu]

if you have to pay 0.8$/kwh, then forget about building a mining farm ...

[laineux]

I am living in France

Electricity is about 0,2$ / kWh
Hard to be profitable, except during winter when heat is useful
But from may to september, heat is an issue in France

I don't understand what he really wants to do

[s90x]

Please start with a single high end gpu + ryzen cpu, mine for a while and if doesn't suit you enjoy gaming on it or use for work

There is a lot to learn, if you start with maximum dollars you will also get maximum panic. Start slow, the times are changing.

[Lunga Chung]

   First thing first, please share more information on space where you plan to install the farm. How much m2 , what is the height of a ceiling, is it located in mountain area. Try to be as details as possible, also please share what kind of el. network you have, depending on your setup you will have to spread all the available power across the entire room (its not like just plugin  in  2 rigs in to wall outlet). If there is only a power cabinet on the farm without any additional el. infrastructure you will have to invest in that also.

As for cooling there are couple of methods but most cost effective one is sucking hot air from the premises...


From my experience this is the difficult part (believe it or not), setting up mining rigs is easy, but setting up a proper el. power and cooling is the complicated part...

[eltech]

Dans quel coin de France ?
 

[gameboy366]

Like the other guy said, in that scale only ASIC are profitable. Currently we have a lot of new asics with latest technology but all of current gen gpus are outdated. With GPU, there are LOTS of points of failure. It's almost full time job if you have many rigs. This is my personal experience from owning multiple gpu rigs and asics at my home. Don't think about selling gpus, if you have doubts and thinking of exit plans then it's not worth spending big money. Only enter it you believe in long term success. 2018 is year of ASICs.

But my best suggestion : If you invest only 1/4 of that money now in good cryptocurrencies then you will get way more then you will ever get with a mining farm, it's way less headache too.

[wheelz1200]

Infrastructure will cost you a lot unless you already have it set up.  My advice is to not nosedive in with $200k, you will have to be versed in maintaining the operation and its easier to learn rig by rig.  Adding one at a time to see where your maintenance threshold is (how much time it takes).  As you learn then i would grow.  Most who dive right in wind up over their heads and sell product for a loss.  Either way good luck to you.

[peterboy1]

if you needed to ask then no.

[RsvTu]

Many good comments here. Ill add some:

-Most important: At this moment to have decent profits you need person who have time, motivation and skills to manage what coin to mine, follow whole scene etc.
-If electricity price ~0.08€ or so its OK
-With mid size farm (200k) you have to start thinking also stuff like people said, airflow / heat issues. I would add also network planning, dual WAN connections, firewalls etc
-Would recommend to go mixed with asic and gpu

So to sum it up, there is many things to think, but if you have motivation and skills then its possible ofc.

ps. yes forget that nicehash

[senseless]

GPUs and ASICs are both a bad investment at this point, IMO.