I Turned My Rigs Off...

[Pamadar]

Nowadays mining have proven not be profitable anymore owing to the unfavorable market. You pay more for energy while the payout tends to be little. Maybe there will be a turnaround but for now, not profitable.

Correct, it's not favorable for miners to mine as this point since the rewards is not profitable, you'll wasting you time and your rigs conditions only to expect nothing in returned, if you are aiming for long term holding chances if doing this for the sake of habitually activities but if it's not better to close it for a while.

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[sandra_x]

At least for the summer.

I run a small farm of ASIC A9 Zmasters and they were heating my shop and giving me a decent profit over the winter but even at $0.06 a KW it will cost me too much to run them through the hot weather. So I'm drinking Bushmill's, smoking a Cuban cigar, and crying a little.

At 0.06$ /KWhr and you will still mine at a loss? Seem the good days are gone with the bears for ASIC dedicated mining. My problem with ASIC mining is that you have to keep up with the Pace, as soon as a new batch of miners are released,boom..the difficulty spikes.If you miss the first deliveries (which are way too expensive anyway),you have missed out on it.

[sandra_x]

Nowadays mining have proven not be profitable anymore owing to the unfavorable market. You pay more for energy while the payout tends to be little. Maybe there will be a turnaround but for now, not profitable.

A way around it would have been to mine and accumulate your coins,holding till the markets are much more bullish- mining at a loss, only sustainable if you have small farm and anticipate the market to return bullish soon enough. For large farm, the only stay afloat with the highest level of optimization, only the most efficient miners are turned-on.The dynamics are very sensitive and are best left to the most sophisticated hands. Andrea Antonopolous made a case for this in his lecture on mining btc.

[mak013]

Nowadays mining have proven not be profitable anymore owing to the unfavorable market. You pay more for energy while the payout tends to be little. Maybe there will be a turnaround but for now, not profitable.

Correct, it's not favorable for miners to mine as this point since the rewards is not profitable, you'll wasting you time and your rigs conditions only to expect nothing in returned, if you are aiming for long term holding chances if doing this for the sake of habitually activities but if it's not better to close it for a while.

I`ve got x4 from my electicity bill this month with $0.06 for KWt. The worst profit ever was about x2.5 from electricity. Last part of the mining equipment was bought about an a year before. I dont know what you are doing to see that "mining not profitable".

[klaaas]

if you do see that you aren't making profits then why proceed?

He probably tried as long as he could to mine at a 'doable' loss.  It is always a struggle in bearish high diff miner times.

[GarySeven]

I already commented in a couple of the other threads touting the new Z11's which are a total waste of money IMO. They suck a lot of power, generate a lot of heat, and drive up difficulty in a declining market cap with un upcoming fork ahead.

Whats not to love love about Zcash?

[Anonylz]

Some are very strong on their argument that mining is still profitable, others argue on the opposite, but mining largely depend on your location or should say country of residence, either you have free electricity or you generate power alternatively, you could mining at loss,
This is problem faced by a mining project (name withheld) who was suppose to lunch but couldn't because of difficulties in mining and the low market condition.

[sirohige]

if you do see that you aren't making profits then why proceed?

He probably tried as long as he could to mine at a 'doable' loss.  It is always a struggle in bearish high diff miner times.

at this time indeed to do mining must really pay attention to exchange price and consider electricity cost and repair of existing equipment when condition of cryptocurrency price which is already very cheap and electricity and maintenance cost goes up hence it is no longer profitable and makes many miners use the rig goes out of business.

[Dewi Aries]

Some are very strong on their argument that mining is still profitable, others argue on the opposite, but mining largely depend on your location or should say country of residence, either you have free electricity or you generate power alternatively, you could mining at loss,
This is problem faced by a mining project (name withheld) who was suppose to lunch but couldn't because of difficulties in mining and the low market condition.

Right, actually mining is depends on what source and condition in that user itself. So debating about pros and contras actually is non sense because they only argue something that happen in themself.

[pinoycash]

Some are very strong on their argument that mining is still profitable, others argue on the opposite, but mining largely depend on your location or should say country of residence, either you have free electricity or you generate power alternatively, you could mining at loss,
This is problem faced by a mining project (name withheld) who was suppose to lunch but couldn't because of difficulties in mining and the low market condition.

If you are a mine and sell type of miners then you are surely mining at loss and wasting your time mining for nothing.

Its best to mine and hold and wait for the right time to sell, As for the electricity it should be covered from the pocket of the miners from the time being. This is the best and a little expensive to do during bear market

[evenotto]

Some are very strong on their argument that mining is still profitable, others argue on the opposite, but mining largely depend on your location or should say country of residence, either you have free electricity or you generate power alternatively, you could mining at loss,
This is problem faced by a mining project (name withheld) who was suppose to lunch but couldn't because of difficulties in mining and the low market condition.

If you are a mine and sell type of miners then you are surely mining at loss and wasting your time mining for nothing.

Its best to mine and hold and wait for the right time to sell, As for the electricity it should be covered from the pocket of the miners from the time being. This is the best and a little expensive to do during bear market

only in the hope of global market changes everyone should mine. It is better to work for the future, not for the current time - if you immediately sell what ur mined, you will not be able to catch more +% with the subsequent increase in value

[cepot9]

as a miner you must have prepared enough equipment to deal with what will happen like summer weather, market conditions are indeed bad but using mining properly will not close the door sufficient profit so all must choose and be consistent

[shinratensei_]

Some are very strong on their argument that mining is still profitable, others argue on the opposite, but mining largely depend on your location or should say country of residence, either you have free electricity or you generate power alternatively, you could mining at loss,
This is problem faced by a mining project (name withheld) who was suppose to lunch but couldn't because of difficulties in mining and the low market condition.

If you are a mine and sell type of miners then you are surely mining at loss and wasting your time mining for nothing.

Its best to mine and hold and wait for the right time to sell, As for the electricity it should be covered from the pocket of the miners from the time being. This is the best and a little expensive to do during bear market

only in the hope of global market changes everyone should mine. It is better to work for the future, not for the current time - if you immediately sell what ur mined, you will not be able to catch more +% with the subsequent increase in value

And they are still mining even they are all in the loss because they are waiting for the price to go up again and it just like when you are betting on something that can't be determined. But if you don't sell some and then how do you cover all of your costs and bill? Remember electricity is always increase.

[r32godzilla]

Do not make your decision too quickly. Experts say that this time is the best time to start with crypto mining because mining HWs are very cheap now.

[Denongels]

I don't have a rig, but I have a family that has a rig and uses some industrial electricity (ice factory) for mining, but according to him now the rig is not profitable at all and only enough to get $ 100 per month even though the price hasn't fallen, he can get $ 500 up and now he stops and sells the rig

[dragonmike]

I don't have a rig, but I have a family that has a rig and uses some industrial electricity (ice factory) for mining, but according to him now the rig is not profitable at all and only enough to get $ 100 per month even though the price hasn't fallen, he can get $ 500 up and now he stops and sells the rig

Get cheap electricity from the ice factory's corporate rate and then run the rigs inside the ice storage room!
Cheap power, free cooling, win-win!

[whiteblue]

as a miner you must have prepared enough equipment to deal with what will happen like summer weather, market conditions are indeed bad but using mining properly will not close the door sufficient profit so all must choose and be consistent

when the surrounding conditions or your environment are very hot and the cost of electricity is very expensive it will make many miners turn off the engine because they already know that it will only make a loss, they are waiting for the right moment to activate the miner again.

[Lizzylove1]

I guess you should have continue instead of turning it off and smoking cigar to cry a little. You said you are making little decent money, and your electricity seems to be cheap if I get your electricity submission conversion. Maybe except for the heat generated which can be moved to a better location with a coolant.

[pieppiep]

I guess you should have continue instead of turning it off and smoking cigar to cry a little. You said you are making little decent money, and your electricity seems to be cheap if I get your electricity submission conversion. Maybe except for the heat generated which can be moved to a better location with a coolant.

if in his country can get cheap electricity and have very cold weather temperatures or at least not too hot then he can relax a little and enjoy the benefits of mining results.

[EK701]

At least for the summer.

I run a small farm of ASIC A9 Zmasters and they were heating my shop and giving me a decent profit over the winter but even at $0.06 a KW it will cost me too much to run them through the hot weather. So I'm drinking Bushmill's, smoking a Cuban cigar, and crying a little.

Want to sell them?