Considering mining.... help with estimates

[TheLittleK]

So we have roughly $500 included with our rent for utilities and this is basically electricity. Electricity is at .23 euro for 1 kWh. Currently my panel can only handle 3k, but I was going to upgrade to 6000 watts. I’ve been eyeing the November batch of the m21s, probably 2 or 3. I wanted to use all the electricity available without paying extra out of pocket.
Are my calculations correct? Should I consider other miners . I can also move to a cheaper place, and then utilize more electricity since my company covers up to a price. Including rent and utilities. During the panel upgrade should I inspect or look to upgrade anything else? I’d be anticipating about 10amps per miner with this proposed setup.

[1714654349]

1714654349

[philipma1957]

So we have roughly $500 included with our rent for utilities and this is basically electricity. Electricity is at .23 euro for 1 kWh. Currently my panel can only handle 3k, but I was going to upgrade to 6000 watts. I’ve been eyeing the November batch of the m21s, probably 2 or 3. I wanted to use all the electricity available without paying extra out of pocket.
Are my calculations correct? Should I consider other miners . I can also move to a cheaper place, and then utilize more electricity since my company covers up to a price. Including rent and utilities. During the panel upgrade should I inspect or look to upgrade anything else? I’d be anticipating about 10amps per miner with this proposed setup.

do not mine at .23 euro a kwh you will be a loser.

I can't stress it enough.

0.04 euro  has always made money

0.08 euro has sometimes been good sometime bad.

0.12 euro has often been bad.

0.23 euro has almost always lost money.

also the 21s  at full speed 56th is crazy loud and pulls 14-15amps

you need to set to low speed it will only do 29th and pull 7 amps  29th is 0.0007105 btc a day or 8 usd or 7.136 euro a day

your power bill for that will be 9.93 euro a day  so you will lose 2-3 euro a day

[TheLittleK]

Thanks for the response, right now I pay about $100 A month, but like I said, I have up to $600 of utilities paid. So I thought get 2 or 3 miners, without going over could try to pocket some of the paid electricity. So perhaps I can order two s9, and see how it does.

Surprised how expensive it is here

[jbillk]

.23/kw is insane. If your not paying it, someone else is and it won't last. Not sustainable. Walk away.

[Steamtyme]

For your setup anything works as long as this is true - Your lease or rental agreement guarantees up to 600$ paid, without restriction.

500 @ .24 = 2083 KWH/30 = 61KWH per day /24 hours gives you room to run about 2.9 KW worth of gear.

You don't want to be to invested in hardware because at any moment really your landlord could decide to change the agreement at next renewal. Investing in things like upgrading the panel are not necessary, it adds to your cost and to utilize it you will end up going over your covered usage. Now without knowing where or how you plan to place these, I would say search the local markets to see what there is for older gear. You could run 2 S9's depending on the model. You could look at Avalons in the 9, 8 or even 7 series. Really whatever you can find cheapest with the most hashrate is your best option.

First time/Small miner reference for getting started.

[TheLittleK]

Thanks for the numbers so roughly I can keep it under 3kw. I guess the only thing that can screw me is prices going up. My company pays up to a certain price for rent and utilities. It’s a 4 year contract, so I will always have it paid for. I could have found a cheaper place, and then my housing budget could have gone to more utilities.

When I move back home to the states, it’s even worse. But the hope is in 3 years I pay off the two miners. Looks like the majority of bitcoin investing I can do is buying rather mining. I will check some other country’s in Europe for pricing.

I have some friends living in rural areas that might let me put a shed up.

[WhyFhy]

QFT!!! you might make it a couple months but expect issues down the road. TBH it seems the issue is addressed already with the price hike. (just like with old school phone plans,if you go over its gonna really cost you)

But you should consider hosting at a facility if its an option for you.