Thinking about starting a mining farm in California

[F360]

Hi friends,
I need an advice from those of you who mine in California. I've been mining for about a year and made reasonable amount of money with my 12 rigs but i pay about 40% from profit for electricity. An acquaintance recently sold a piece of real estate and asked me for an advice about investing and I'm thinking if i should recommend him to invest in a mining farm or no. I promised him that i would help with maintenance for no cost and he understands the risks involved. I would do it for free just to help him but I'm afraid if this business goes down i will dirt my reputation. The amount he wants to invest is about 60k and i calculated that would make about 2000$ each month net profit.
I would like to hear your opinion about my math if i miss some variables in my calculation, especially from those of you miners from California.
Any thoughts are greatly appreciated!

[1715405467]

1715405467

[1715405467]

1715405467

[gooseloose]

Enable PMs on your account from newbies since it wont let me PM you to send you my contact info.

I'm also located in California, we can meetup to discuss in person.

Are you in norcal or socal?

[adaseb]

Hi friends,
I need an advice from those of you who mine in California. I've been mining for about a year and made reasonable amount of money with my 12 rigs but i pay about 40% from profit for electricity. An acquaintance recently sold a piece of real estate and asked me for an advice about investing and I'm thinking if i should recommend him to invest in a mining farm or no. I promised him that i would help with maintenance for no cost and he understands the risks involved. I would do it for free just to help him but I'm afraid if this business goes down i will dirt my reputation. The amount he wants to invest is about 60k and i calculated that would make about 2000$ each month net profit.
I would like to hear your opinion about my math if i miss some variables in my calculation, especially from those of you miners from California.
Any thoughts are greatly appreciated!

From what I heard California is one of the worst places to start a mining farm due to the high electrical prices.

There is an overall shortage of electricity, especially in the Summer time.

Most farms are being relocated to Quebec Canada or Washington States. Places which have a surplus of Electricity.

[Geraldo]

Crypto mining industry has gone wild, at least since a half years back. And overall that's hard to predict. Return on investment and profit can't calculate easily. But I can say for sure (my own experience), I've never lost profit since my first mining (2014). But it will be different for every condition.

What makes it different related to your case?

- Electricity cost,
- The ambient temperature in your mining area. (related to an extra cost)

Besides that.
How experienced you are in mining.

You can suggest your acquaintance invest in Crypto mining, but you need to explain what was the risk. Add may we can call it as "game of Californication." 

[ojherpeu]

According to your calculation, about two years to take back the investment, I think the investment risk will not be very big, if the price of bitcoin continues to rise, it is likely to recover the cost faster. Of course, if you open a mine in California, you may also need to know the local tax revenue and the stability of the electricity supply.

[deskless]

Will you be able to use flexible pricing for electricity cost?
I am also curious if someone is able to benefit by using flexible pricing while running a farm.