Investing in solar power and miners

[Tolosi]

Hi,

I am thinking of investing about value equivalent to 1BTC at today's price 16.K in a dedicated solar power panels at my roof and use the energy produced for mining bitcoins.
If I buy second hand miners with 200TH hash power included in the package, how I would calculate time of investment return?

[1679889307]

1679889307

[BitMaxz]

There are some tools that you can use to calculate your ROI not accurate due to changes in the price of Bitcoin and difficulty but you can get an idea of how days or months you can reach the ROI.

Here's the tool that I'm talking about https://www.mycryptobuddy.com/BitcoinMiningCalculator

[joniboini]

So I just did some basic search because I'm also curious about this. I'll use the US price for the panel installation. It seems like you need to pay around $13K on average to install a 6kw solar panel. Since you need to buy a miner too, you probably need to spend another $3k at least to buy a 100+ TH/s miner, something like S19. That means your cost on average is around $16k.

If you use the calculator shared by Bitmaxz to calculate this, you'll need around 2 years to break even. This assumes the difficulty decrease by 7 percent each month, the BTC price stays the same, your panel doesn't break, your miner doesn't break, you constantly mine at 110TH/s, and so on. Do calculate on your own though, since there are a lot of assumptions here and I'm probably wrong about some things (the rig choice, price projection, etc).

Here's the ref link that I use to find the data for the calculations:

Code:

https://www.coinwarz.com/mining/bitcoin/calculator
https://news.energysage.com/5kw-solar-systems-compare-prices-installers/
https://modernize.com/solar/panel-cost-calculator

[philipma1957]

Hi,

I am thinking of investing about value equivalent to 1BTC at today's price 16.K in a dedicated solar power panels at my roof and use the energy produced for mining bitcoins.
If I buy second hand miners with 200TH hash power included in the package, how I would calculate time of investment return?

well assuming you can get 10 k-watts for 14000 you only have the power to run

10000/5 =2000 watts 24/7

best case.

or

10000/6 = 1667 watts 24/7. you can get a used s19 for 1500 use braiins down clock it to burn say 2000 watts gives you around 60th

that is 60 x 7 cents = 4.20 a day or 4000 days to break even

that is 11 years.

I also left tons of constants.
7 cents a th in earnings constant
difficulty constant
16k for a coin constant

I left out all the incentives you government may give you for having the solar panels.

[Tolosi]

Thanks all.

Looks like it is financially better option just to buy 1 Bitcoin and wait for next price increase.

[Queentoshi]

If I buy secondhand miners with 200TH hash power included in the package, how I would calculate time of investment return?

Since you are already talking about the time of investment return, you will not be happy when you invest heavily in mining, and it begins to look like your investment is being sucked away by the very many unplanned challenges that you will definitely face and also since you were planning secondhand miners that will be more prone to repairs and fixing. There is no assurance of investment returns, you may even encounter losses.

Looks like it is financially better option just to buy 1 Bitcoin and wait for next price increase.

This may be the better option for you, buy now the value is still low.

[Outhue]

Thanks all.

Looks like it is financially better option just to buy 1 Bitcoin and wait for the next price increase.

Yeah, at this point it's better to buy Bitcoin and wait, if you want to build a solar mining farm and still buy Asic miner it's going to cost a lot.

Buy a BTC at 16k and wait, if BTC goes back to 59-69k again then you will have enough to build yourself a mining farm with solar panels.

I have successfully build my own solar farm in 2021 but for GPU mining and now all I need is an Asic miner.

[fennic]

Hi,

I am thinking of investing about value equivalent to 1BTC at today's price 16.K in a dedicated solar power panels at my roof and use the energy produced for mining bitcoins.
If I buy second hand miners with 200TH hash power included in the package, how I would calculate time of investment return?

If you want to invest almost 16000 dollars or current value of BTC than you can get almost 350 to 500 TH power to mine crypto and Bitcoin and that is good investment for long term and it can generate good profits too.
And if you want to check mining Profitablity and other such things than you can check website that is I am giving link 🔗🖇️,
https://www.coinwarz.com/

[WhyFhy]

Thanks all.

Looks like it is financially better option just to buy 1 Bitcoin and wait for next price increase.

This is what I've been preaching these days. Most the coins already mined up.
A lot less gray hair worrying about the logistics involved. (especially on entry level)
The solar idea still isn't bad if you can cut out all the financing.
I don't know how that department really works though in your area of operation.

[altair_tech]

Solar almost never makes sense. Why do you want to do this?
Coal is basically solar energy, that was converted into plant matter through photosynthesis. Nothing wrong with using hydrocarbons.

[febriyana]

Hi,

I am thinking of investing about value equivalent to 1BTC at today's price 16.K in a dedicated solar power panels at my roof and use the energy produced for mining bitcoins.
If I buy second hand miners with 200TH hash power included in the package, how I would calculate time of investment return?

well assuming you can get 10 k-watts for 14000 you only have the power to run

10000/5 =2000 watts 24/7

best case.

or

10000/6 = 1667 watts 24/7. you can get a used s19 for 1500 use braiins down clock it to burn say 2000 watts gives you around 60th

that is 60 x 7 cents = 4.20 a day or 4000 days to break even

that is 11 years.

I also left tons of constants.
7 cents a th in earnings constant
difficulty constant
16k for a coin constant

I left out all the incentives you government may give you for having the solar panels.

Wow that is very long time to just only break even.
I prefer use the money to buy some goods to selling on the marketplace.
Maybe i can lose my money but atleast....
i can learn something how to make money more fast than waiting 11 years mining.

[gunhell16]

Hi,

I am thinking of investing about value equivalent to 1BTC at today's price 16.K in a dedicated solar power panels at my roof and use the energy produced for mining bitcoins.
If I buy second hand miners with 200TH hash power included in the package, how I would calculate time of investment return?

The question is how much is your budget for the second-hand miners that you say have 200TH power?

If we base it on the current price value of bitcoin (17kplus) with a hashpower of 200TH,  you can earn per hour around 12.75$ within 1 week you can earn 89-90$ depending on the value of bitcoin, if you sum it up in a month it will be around 382$ or more if Bitcoin goes up and if bitcoin goes down it will be less than that, this is based on my calculations.

[tjtonmoy]

I think you can not get the maximum output from any mining rig while powering it from solar power. And the cost to get back the total spend money and also profit from that would be a tough journey.
There's also the fact that used rig can be damaged overtime. So, to get the best out of it, I think buying some mining rig that is from a well-known brand and included warranty should be the best option. But I am not an expert. That's just what I should look into before buying something that expensive. Which could last me a long time.

[NotFuzzyWarm]

I think you can not get the maximum output from any mining rig while powering it from solar power.

And pray tell us why?

The power source a miner uses is irrelevant. The only thing that matters is how much power is produced. Properly size the solar array to produce at least as much power as the miner(s) draw and as long the sun is shining you are golden. Now, whether or not you can run 24x7 on the power source, that is a different matter.

[MarjorieZimmermanGinger]

Yeah, at this point it's better to buy Bitcoin and wait, if you want to build a solar mining farm and still buy Asic miner it's going to cost a lot.

This is an easier option, when one has the ability to build an investment in bitcoin, the power of building mining using ASIC requires basic and maintenance costs, so we need spare capital that we have to think about. Electricity costs, room temperature levels and other supporting tools also need to be considered in the process of mining, mining power will not be maximized if you don't have the power of tools as a support.

Buy a BTC at 16k and wait, if BTC goes back to 59-69k again then you will have enough to build yourself a mining farm with solar panels.

I have successfully build my own solar farm in 2021 but for GPU mining and now all I need is an Asic miner.

If financial strength is sufficient, it may be true as you say, Asic is a tool that can be used in mining, but there are many other tools that can help people to mine, most people who mine individually and independently have difficulty meeting targets from mining results, let alone talk about the number of mining tools we have and the timeframe for producing bitcoins.

Mining power is largely determined by the quality and number of tools used, when the capabilities of the machines we have are not balanced, then mining will produce little value.

[Mr. Magkaisa]

Hi,

I am thinking of investing about value equivalent to 1BTC at today's price 16.K in a dedicated solar power panels at my roof and use the energy produced for mining bitcoins.
If I buy second hand miners with 200TH hash power included in the package, how I would calculate time of investment return?

   -   As per my understanding of what you are saying, you want to mine bitcoin, using solar power to generate electricity when you mine Bitcoin? Why is electricity expensive in the country you are in or is electricity consumption cheap there? If you have a solar power panel you can somehow save on your electricity cost.

Because from the tone of your story mate, it seems that you have an idea that the cost of electricity is also expensive when we mine bitcoin, this is if you first buy the surplus miners that are sold to you. But my suggestion to you, is don't get into that if you don't have enough knowledge about bitcoin mining.

[BitcoinPanther]

Hi,

I am thinking of investing about value equivalent to 1BTC at today's price 16.K in a dedicated solar power panels at my roof and use the energy produced for mining bitcoins.
If I buy second hand miners with 200TH hash power included in the package, how I would calculate time of investment return?

   -   As per my understanding of what you are saying, you want to mine bitcoin, using solar power to generate electricity when you mine Bitcoin? Why is electricity expensive in the country you are in or is electricity consumption cheap there? If you have a solar power panel you can somehow save on your electricity cost.

Not really, imagine the start up cost of building a solar panel.  It will cost you thousands of dollar more just like stated on the earlier reply.  Then you have to buy a second hand miner, at least according to the computation you can have a ROI at the shortest time of  2 years (according to joniboini) and longest of 11 years (according to  philipma1957).  That is not factoring the possibility of the solar panel or the miner malfunction during the operation which may turn to worst thing of not getting ROI at all.

Because from the tone of your story mate, it seems that you have an idea that the cost of electricity is also expensive when we mine bitcoin, this is if you first buy the surplus miners that are sold to you. But my suggestion to you, is don't get into that if you don't have enough knowledge about bitcoin mining.

The OP had realized that buying Bitcoin is financially better option for him.

[Inwestour]

Thanks all.

Looks like it is financially better option just to buy 1 Bitcoin and wait for next price increase.

The implementation of the plan will require additional costs for the maintenance of solar panels, in addition, there may be force majeure situations, like a hurricane, or something like that. You need to find out if permission is required to install such equipment. But if you just buy one bitcoin now for 16k, then in the next bull run you can count on x3-x5 without nerves, and you don’t have to wait more than 10 years to recoup your investment.

[Cyber_Alien]

Thanks all.

Looks like it is financially better option just to buy 1 Bitcoin and wait for next price increase.

It's preferable to buying a used miner that might malfunction at any time. But if you invest in Bitcoin now, you will eventually profit from it.

[philipma1957]

Hi,

I am thinking of investing about value equivalent to 1BTC at today's price 16.K in a dedicated solar power panels at my roof and use the energy produced for mining bitcoins.
If I buy second hand miners with 200TH hash power included in the package, how I would calculate time of investment return?

   -   As per my understanding of what you are saying, you want to mine bitcoin, using solar power to generate electricity when you mine Bitcoin? Why is electricity expensive in the country you are in or is electricity consumption cheap there? If you have a solar power panel you can somehow save on your electricity cost.

Not really, imagine the start up cost of building a solar panel.  It will cost you thousands of dollar more just like stated on the earlier reply.  Then you have to buy a second hand miner, at least according to the computation you can have a ROI at the shortest time of  2 years (according to joniboini) and longest of 11 years (according to  philipma1957).  That is not factoring the possibility of the solar panel or the miner malfunction during the operation which may turn to worst thing of not getting ROI at all.

Because from the tone of your story mate, it seems that you have an idea that the cost of electricity is also expensive when we mine bitcoin, this is if you first buy the surplus miners that are sold to you. But my suggestion to you, is don't get into that if you don't have enough knowledge about bitcoin mining.

The OP had realized that buying Bitcoin is financially better option for him.

So much depends on the power company and if you can grid tie at fair offset rates.

Our largest field for mining does 280kwatts.

we burn 60 and offset 220. We do 5-6 hours a day yeah days last 19-15 hours in New Jersey but first 2 and last 2 hours are lower. So it comes to 5-6 hours depending on season.

So 5.5 year round. thus 5.5 x 230 = 1210 offset.

and 24-5.5 = 18.5 x 60 = 1110 pay back when it is "dark" So we gain 1265-1110 = 155  kwatts a day. this means  mining the gear is negative cost of 155 kwatts which is squared up on April of each year. The warehouse complex use other power so that 155 is spent.

this was an 800,000 build with a 27% tax credit from Feds first year. so 800,000x.73 = 584,000  after 1 year.

and state of NJ offers addition credits  of 10% so 584,000-80,000= 504,000 after first year.

you still get the 10% from NJ for 9 more years so 80,000 x 6 = 480,000 . thus in year 7  504,000- 480,000 = 24,000 on the loan.

This does not count the mining this does not count interest on the loan for the build. they are close to the same. unless there is a bull run.

So by year 7. the loan is done to 24,000 you still have 3 NJ credits coming for a grand total 240,000 over 3 years.

The gear is insured and warrantied.

But this is small scale commercial and it is good for NJ, USA as NJ has good programs for solar.