Bitcoin Forum
February 24, 2020, 09:40:25 PM *
News: Latest Bitcoin Core release: 0.19.0.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Rig hosting farms? Building your own mine is dumb  (Read 300 times)
jfe23
Newbie
*
Offline Offline

Activity: 3
Merit: 4


View Profile
November 09, 2018, 02:04:45 PM
Merited by dbshck (2)
 #1

Why build a mining farm? You're looking at 6-8 months best case before you even get to turn your machines on(I've tried, trust me). It's crazy, no offense. So much goes into building and maintaining a farm. I see a post where a guy wants to build a farm with 180k lol.
I host 2000 S9's with a company in the US who charges me .06 USD/kwhr. I signed a contract, ordered my miners to their location, and 4 days later they were all configured and paying out to my addresses. Plus they maintain them for me, and I still retain ownership at all times. I can see the hashpower and when they go down, I'm notified and not charged for the down period. It's like the monthly subscription service versus they all out buy method.

Yeah they probly have access to like .02 USD/kwhr but who the hell cares if they are making money, there's no chance Ill find a better deal within a half a year timeframe, and I was able to start mining while there's still a market to mine.

Idk how the fuck people haven't heard of this shit yet.

Yes I'm looking for validation here, what do you think?
1582580425
Hero Member
*
Offline Offline

Posts: 1582580425

View Profile Personal Message (Offline)

Ignore
1582580425
Reply with quote  #2

1582580425
Report to moderator
Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1582580425
Hero Member
*
Offline Offline

Posts: 1582580425

View Profile Personal Message (Offline)

Ignore
1582580425
Reply with quote  #2

1582580425
Report to moderator
1582580425
Hero Member
*
Offline Offline

Posts: 1582580425

View Profile Personal Message (Offline)

Ignore
1582580425
Reply with quote  #2

1582580425
Report to moderator
1582580425
Hero Member
*
Offline Offline

Posts: 1582580425

View Profile Personal Message (Offline)

Ignore
1582580425
Reply with quote  #2

1582580425
Report to moderator
Steamtyme
Legendary
*
Offline Offline

Activity: 924
Merit: 1655


Exchange Bitcoin quickly-https://blockchain.com.do


View Profile WWW
November 09, 2018, 02:43:06 PM
Last edit: November 09, 2018, 11:52:17 PM by frodocooper
Merited by dbshck (3)
 #2

You're no innovator. People have figured that shit out it's called hosting or colocation.

Glad it's working out for you and your gear. Some people have cheap enough power that they can successfully run all the machines they can afford at home or their business. Tough to do when you are talking about 2000 miners.

Some people really enjoy the hands on the maintenance and the troubleshooting from hosting there own miners. Then there's the people who can afford 2000 miners and a facility and decide to make a business of it with their sub 5 cent electricity, and offer hosting.

Everyone has different motivations and plans. Glad you found something that suits you and is working out.

Lunga Chung
Member
**
Offline Offline

Activity: 275
Merit: 18


View Profile
November 09, 2018, 04:45:17 PM
 #3

Mind sharing the company name where you host 2k miners?
jfe23
Newbie
*
Offline Offline

Activity: 3
Merit: 4


View Profile
November 13, 2018, 01:33:10 PM
Merited by dbshck (2)
 #4

I don't see why not. They're called Savage IO

I know I'm not the first to think of it, but I still see so many people thinking that building a mine is quick and easy. Maybe I'm salty because I failed so terribly at it, even with a huge financial backing. But we were doing a pretty large scale. Even Gigawatt went belly up recently, and my sources tell me Cryptowatt has only built 10 MW of the 75 they promised a year ago.
Steamtyme
Legendary
*
Offline Offline

Activity: 924
Merit: 1655


Exchange Bitcoin quickly-https://blockchain.com.do


View Profile WWW
November 13, 2018, 02:18:54 PM
Merited by dbshck (4)
 #5

Building your own facility from scratch is definitely not an easy thing. It takes a lot of planning, backing and time. I suspect most people have a major issue with the time aspect and making proper arrangments with the utility company for initial start-up.

After that though it all comes down to filling the space, and having a long term deal in place with the community and the utility company. This is what unfortunately is killing hosting sites and some larger scale farms in North America. The community changes the zoning laws - sometimes in a targeted plan; or the electricity costs your business model is built on go up by 40%. These are the real nail in the coffin, for those facilities.

It's no different with the facility you are at, hopefully they've secured a long term solid plan.

sarcheer
Copper Member
Full Member
***
Offline Offline

Activity: 331
Merit: 101


View Profile
November 13, 2018, 04:37:08 PM
 #6

What will you do if the facility you're hosting with goes belly-up? Ship 2000 miners to another facility? What if their bankruptcy proceedings drag on for months and months and the courts require the building and its contents held in place until asset distribution is finalized with creditors? These are some of the many, many reasons people choose to build their own farms and maintain control of their huge investments.

Miners:
Avalon 1041, Whatsminer M10, Antminer T15 x 2, DragonMint T1 x 3, Innosilicon T2T, R4 x 2
jfe23
Newbie
*
Offline Offline

Activity: 3
Merit: 4


View Profile
November 14, 2018, 01:57:41 PM
 #7

Yes actually, shipping 2000 miners isn't that expensive in for the total CAPEX I paid for them. They make that shipping amount in less than a week. I'd be more worried about the downtime. And I guess you just have to choose a company that protects you legally and has been hosting for years already, which is hard to find. What you're saying is a worst case scenario, and building a mine and maintaining it has an entire slew of more probable problems that will affect your investment. You have to decide which is more likely to occur, and take into account the fact that no one knows how long the market will be profitable for.
mikeywith
Hero Member
*****
Offline Offline

Activity: 686
Merit: 1998


be constructive or S.T.F.U


View Profile
November 17, 2018, 11:03:29 PM
Last edit: November 18, 2018, 10:55:28 AM by frodocooper
 #8

I am no psychologist but you do seem like you do not think you made the best decision when you chose to have your miners hosted for you. you are just hopping people will support your choice and say hey you made the best decision of your life.  ! i don't know exactly what are you hoping to read but I can tell you that there is nothing wrong with both methods. it all comes down to your way of doing things, skills , location and available time.

in most business, the greater the risk, the higher the rewards. you chose to take less risk by paying extra and getting less profit. nothing wrong with this.

myself on the other hand would only build my own, specially if the number was a big as yours 2000 S9's. as you mentioned you were able to start mining when there was a market for it. so assume you paid well over 1k per miner, you went above 2 million $ ! . I do not know about your whereabouts but where I live it would be very stupid to have 2000 Asics hosted. you looking at about  3 MW set up. nothing too complicated ! , i would have made much more profit building my own farm than having my 2000 Asics hosted at more expensive power rate.

but again as i mentioned it all depends, most Chinese farms buy their own power plant, typically building a whole complete infrastructure  from scratch in order to get dirt cheap power rate as appose of having the electric company supplying them with their own . this does not make them less smart than you are. it's just different for everyone.

Norm MacDonald
Member
**
Offline Offline

Activity: 126
Merit: 20


View Profile
November 22, 2018, 05:30:58 AM
 #9

Maybe you should ask the poor sorry folks that hosted at Giggawatt.......
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!