Making a mining pool for my city [Thought Challenge]

[BigChainSolutions]

I was discussing with my friends about an idea. That our small city that has around 90000 people could build our own bitcoin mining firm for our city and have our own pool.
The electricity cost in my country is the lowest in Europe. Now to challenge the idea I need some facts and I know someone here with more experience can help out or give some true facts.

Basically, we want to make an app for smartphones where everyone who has the app in our city can recover mined bitcoin from our pool. Basically, a universal basic income because our economy sucks (reason bankers and politicians).

Now to put some structure in my post I will ask some question and if someone wants to answer them please do it, thx

Let's say we have a capital of $2m to buy the best equipment out there:

what kind ROI could we expect?
how long would it take to see the first profits?
Is it even possible to do that?

And you need to know that our minimum wage in our country is 150 euros yes 150 euros imaging living from that

P.S who guess the country right I will send him 100 dgb

[1715185554]

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[1715185554]

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[1715185554]

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[ranochigo]

Let's say we have a capital of $2m to buy the best equipment out there:

Excluding landspace and electrical fees right?

what kind ROI could we expect?

Given that Bitmain S9i is the most efficient ASIC,
Number of S9is you can get: 2770
Amount of hashrate: 38780
If the hashrate increases at 10% per month, you can get about 50BTC per month.

how long would it take to see the first profits?

Depends on your operating cost.

Is it even possible to do that?

Yes. You just need loads and loads of resources (ie. land, electricity, funds). You have to contact the ASIC company for bulk orders but the shipping fees would be pretty nightmarish.

[BigChainSolutions]

Basically, it would give every citizen 4 euros per month the experiment would fail

Let's say we have a capital of $2m to buy the best equipment out there:

Excluding landspace and electrical fees right?

what kind ROI could we expect?

Given that Bitmain S9i is the most efficient ASIC,
Number of S9is you can get: 2770
Amount of hashrate: 38780
If the hashrate increases at 10% per month, you can get about 50BTC per month.

how long would it take to see the first profits?

Depends on your operating cost.

Is it even possible to do that?

Yes. You just need loads and loads of resources (ie. land, electricity, funds). You have to contact the ASIC company for bulk orders but the shipping fees would be pretty nightmarish.

[bob123]

That our small city that has around 90000 people could build our own bitcoin mining firm for our city and have our own pool.
The electricity cost in my country is the lowest in Europe.
[...]
Let's say we have a capital of $2m to buy the best equipment out there:
[...]

Basically, it would give every citizen 4 euros per month the experiment would fail

With 90.000 people and a capital of $2m thats roughly 22$ invested per person (on average). 4$ per month return doesn't sound that bad IMO.
Thats a ROI of 5,5 months. 18% monthly returns from your investment. Thats 216% yearly profit! Thats way better than any traditional investment.

[BigChainSolutions]

I mean to make a $4million in return in the first year is good. Maybe then people can invest together and/or borrow money inside the network if they need and pay back when they can. And maybe start a political party and win local elections and make some changes

That our small city that has around 90000 people could build our own bitcoin mining firm for our city and have our own pool.
The electricity cost in my country is the lowest in Europe.
[...]
Let's say we have a capital of $2m to buy the best equipment out there:
[...]

Basically, it would give every citizen 4 euros per month the experiment would fail

With 90.000 people and a capital of $2m thats roughly 22$ invested per person (on average). 4$ per month return doesn't sound that bad IMO.
Thats a ROI of 5,5 months. 18% monthly returns from your investment. Thats 216% yearly profit! Thats way better than any traditional investment.

[DarrinEspacio]

This is really a nice initiative and the coin you have chosen is right. Since bitcoin is the market leader and the most reliable coin so mining of bitcoin will be really profitable for you as it is now on demand. You initiative looks like the entrepreneur. Carry up this and how you will be successful in your plan.

[leoliln45]

From my perspective i think if peoples are Donets 4 Euros after 30 days this experiment will not work.

[mc.craigsvictor]

Well, I will tell that it is a big project. And for this you have to manage a lot of things before doing this. You need a lots of resources before doing this and you have to make sure for those things available.

[ScottDominic]

It is something very big that you are intend to do, just make a proper plan and work hard.

[Smarty14392]

Let's say we have a capital of $2m to buy the best equipment out there:

I think this is a bit low amount of investment as you are talking about 90000 peoples sharing the profit the investment should be way better than this according to me.

what kind ROI could we expect?

S9 is the best for sure for large-scale mining and for building a mining farm.

how long would it take to see the first profits?

You will get profits in about one year of mining and you could also get earlier if the initial profit is again invested in the project.

Is it even possible to do that?

Yes for sure it is possible. It is a good plan as the electricity cost is low in your area.

[Herbert2020]

just FYI
mining pool: is basically a server without any hashrate. people from different locations with actual mining hardware and real hashing power connect to that pool so that they can meet with others and share/pool the work.
mining farm: is a place owned by someone (like a storage space, a factory, your backyard,...) which has multiple ASICs that are producing the hashrate and mine bitcoin.

so which one do you want to have?
if it is a mining pool then there are two problems. people in your city have to have ASIC to connect and mine bitcoin and why would then connect to your pool? there are other pools out there.
if it is a mining farm then why do you need people to connect to you? and what is that part about "smartphones"? do you want to have some sort of hashrate-lending-service like the cloudmining services? in which case it is a terrible idea.