Bitcoin Forum
June 18, 2019, 06:21:45 AM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Looking to start up a mid-large scale mining operation in the US  (Read 153 times)
Zand_
Member
**
Offline Offline

Activity: 112
Merit: 17


View Profile
May 20, 2019, 06:49:15 PM
 #1

Long story short, I ran a small scale mining operation in the beginning of 2017 for about a year. It was more of a hobby but did yield some good profit and I learned a ton in the process. Fast forward to 2019, I'm getting bored with my current job and looking to venture out on my own and try something new. I'm willing to relocate to potentially anywhere in the US, leaning towards WA due to electricity prices but am open to other options. I have the capital required to get things going (wouldn't need a loan from the bank). I've looked at current hardware options and it seems like Whatsminer M20 and Antminer S17 will give the best bang for my buck, but before I even go there I need to consider some of the logistics.

For people who've started up their own mining operation, where do you recommend I start? I'm mostly curious about creating the business entity, leasing (or potentially buying) the industrial space needed, working with the state and utility company to get lowest possible commercial rates, figuring out total load and power requirements, etc...

Any help/feedback would be much appreciated, thank you!
1560838905
Hero Member
*
Offline Offline

Posts: 1560838905

View Profile Personal Message (Offline)

Ignore
1560838905
Reply with quote  #2

1560838905
Report to moderator
1560838905
Hero Member
*
Offline Offline

Posts: 1560838905

View Profile Personal Message (Offline)

Ignore
1560838905
Reply with quote  #2

1560838905
Report to moderator
Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Steamtyme
Hero Member
*****
Offline Offline

Activity: 672
Merit: 1054


Check out my .1 BTC Raffle - In Games and Rounds


View Profile WWW
May 23, 2019, 01:53:57 AM
Merited by frodocooper (3)
 #2

I haven't fired up a large facility but your biggest problem at the moment is going to be the Tariffs in the US, they are absolutely killing you guys on hardware prices right now. I believe it's something like 25% maybe 27.6 I'm not positive, but it's why a lot of people have held off on upgrading their equipment. Figuring out what and how you'll buy it may be more of a numbers game after you've talked to the power company, you may be limited on what they will provide your site. You might also decide to consider other countries like Canada, some provinces offer very appealing rates and have large farms already in operation. This may not be ideal though I'm not sure how hard it is to relocate internationally.

In regards to everything else , I lean towards finding the fastest way to get up and running even if this is only at a fraction of your end goal. So Ideally you will find a building up for sale considering you have the capital and don't need to borrow. Otherwise you are operating at the whims of the "Owner" - I've seen one hosting facility get burned this way. You may want to narrow down the areas you feel you can get a decent power deal, then search for property in that region until you find a place that has it all. I'll check around and link back but I have seen a few people posting "farms" for sale in the marketplace but those offers may have expired. Another option you may want to consider is getting into the Crypto/Solar arrays. There is a member here who has been expanding at a great pace by doing this as they are in a state with very good Solar rebate programs. Good luck.

philipma1957
Legendary
*
Offline Offline

Activity: 2492
Merit: 1755


Avalon 841 rocks


View Profile
May 23, 2019, 02:07:59 AM
Merited by frodocooper (2)
 #3

First off the s17 and the m20 are terrible gear choices for you.

The markup is 27.6% to bring them into the USA

They are really overpriced.

If you have money to spend you want 3-5 cent power this is far more important than gear.

I would suggest you look are the marketplace section for broker threads.

https://bitcointalk.org/index.php?board=75.0

read prices on gear and on power.

Feel free to pm me if you have questions.

read my thread on a small farm  note my gear mix

we are 70kwatts of gear
we are going to 140kwatts of gear


https://bitcointalk.org/index.php?topic=5099194.0

I am looking for some of these
https://bitcointalk.org/index.php?topic=5146263.0

I am waiting on some m20's and I have 1 s17
I would not go all out on m20's or s17's  my power deal allows me to mix old and new gear.

My risks are greatly reduce by mixing and hedging gear

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
Steamtyme
Hero Member
*****
Offline Offline

Activity: 672
Merit: 1054


Check out my .1 BTC Raffle - In Games and Rounds


View Profile WWW
May 23, 2019, 06:00:24 AM
Merited by philipma1957 (2)
 #4

Speak of the devil, lol. Phil is who I was referring to with the Solar setups, seeing as you were open to moving. On the note of Brokers and cheap older gen gear, here's a guy. I was going through his offerings and found this.
Announcement: 130+ MW of "Behind the Meter" Land & Power Available for Mining
Might be something you are into. You can also see the offerings he has for gear in that thread or ask him if you do reach out.

elokk
Hero Member
*****
Offline Offline

Activity: 657
Merit: 517


View Profile
May 26, 2019, 03:52:04 PM
 #5

I heard some hardware is starting to come out of Malaysia as country of orgin to get around tariffs

t.me/bitcoinasic

Earn 6.2% annually with a BTC interest account: https://blockfi.com/?ref=ce47b1e4
philipma1957
Legendary
*
Offline Offline

Activity: 2492
Merit: 1755


Avalon 841 rocks


View Profile
May 26, 2019, 06:04:37 PM
Last edit: May 27, 2019, 09:57:37 AM by frodocooper
 #6

Yes some is routing through other countries. Broker adds a fee and importer is Malaysia.

So a 1600 piece is 1600+200 = 1800 vs 1600+400 = 2000.

So far I have not been able to get a deal done since  MOQ is too big for me.  50 plus units.

I mine alt coins with https://simplemining.net...
I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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!