Beginner Antminer S17 Can this work?

[KristianGermany1992]

Hello Guys!

I am from Germany, and I would like to know how I can start mining.

All I have is a bitcoin account connected to a bankaccount and knowledge how nicehash works,
and the feeling that antminer s17 costs 2000 euros and is the best miner with 56thz.

the electricity is expensive here, 37 cents per KWH.

Do you guys have any idea if this could work or how to better do it?

I have 178 euros now, and was thinking of selling an expensive bike or something to get money for a mining device cant get any credit.

How much money would i make?

My estimation is that with a solar panel it could work.

that is all. look forward to your tipps!

Greetings

[1715451232]

1715451232

[1715451232]

1715451232

[VRobb]

Tag,
If you don't already own a miner (and the S17's are less than reliable with lots of them failing after not much time running) I'd recommend you just buy some BTC and sit back and watch its value increase.  Trying to buy a miner now is close to fruitless.  And we won't even get into your electricity cost...!

Tschuss,
Robert

[BitMaxz]

Base on your Electricity rate I think you can't able to make any profit with Antminer s17. Just calculated with some mining calculator.

If you want to calculate it with your self I suggest you try this tool below.

- https://www.mycryptobuddy.com/BitcoinMiningCalculator

The current profitable SHA256 miner according to whattomine is "MicroBT Whatsminer M30S++ 110T" with 37 cents/Kwh.

You can check it for yourself from this link below also you can see other ASIC miners there with higher profitability.
- https://whattomine.com/miners?cost=0.37&button=

[philipma1957]

Hello Guys!

I am from Germany, and I would like to know how I can start mining.

All I have is a bitcoin account connected to a bankaccount and knowledge how nicehash works,
and the feeling that antminer s17 costs 2000 euros and is the best miner with 56thz.

the electricity is expensive here, 37 cents per KWH.

Do you guys have any idea if this could work or how to better do it?

I have 178 euros now, and was thinking of selling an expensive bike or something to get money for a mining device cant get any credit.

How much money would i make?

My estimation is that with a solar panel it could work.

that is all. look forward to your tipps!

Greetings

power is too costly for you do not mine

[mikeywith]

the electricity is expensive here, 37 cents per KWH.

Forget about mining altogether, honestly you will most certainly end up losing money with the power rate you have, mining at its core is competing against other miners, the two most important factors are the miner's efficiency and the power rate, the latter is a lot more important.

Even if you had the most efficient gear which is say the S19 pro, you still make only 15$ in profit after the power bill,  someone else who has 6 cents per KwH which is just the average in China, makes the same amount with an old T17 which he can get for 15% of the price you need to pay for that S19 pro, and you will need at least 2-3 years to ROI if ever.

[lannister2k]

Id cut trying to mine btc, try mining other altcoins which might hold a price on the long term, in your case id look for long term investments not short term ones also do your research on the solar panels youre going to use, as they might not provide sufficient electricity or a stable circuit, , feel free to pm regarding any questions