Bitcoin miners in Nigeria

[Amphenomenon]

The electricity bill in Nigeria is expensive and the light is not even constant and so is not profitable for mining bitcoin.Other means of generating are  expensive also.
Is there any Bitcoin miners in Nigeria?
If there is any, I have some questions

• how profitable is mining here?
• Are you mining as a solo miner or through a mining pool?
• what is the cost of setting it up?

[1714528005]

1714528005

[1714528005]

1714528005

[1714528005]

1714528005

[1714528005]

1714528005

[Charles-Tim]

You can read this to have more information about mining in Nigeria:

https://bitcoinmagazine.com/business/nigeria-bitcoin-miners-will-profit#:~:text=Nigeria%20is%20leading%20Africa%20in,challenges%20to%20find%20economic%20freedom.

According to the article, it is stated that the whole Africa are responsible for only 2% of bitcoin mining hashrate generation.

Although, there are miners in Nigeria, according to this research: https://ccaf.io/cbeci/mining_map, also in other Africa countries most especially the white African countries, Nigeria, South Africa, Angola etc.

There are some regions in Nigeria that electricity is constant. I remember when I was in North part of the county, Katsina. If the light is not good in their GRA, they still have more than 12 hours of light, but if their light is good, they get over 23 hours of light daily. Also in Batagarawa, a local government in Katsina that I have gotten to, they almost have regular light supply. But I do not know about now.

I was on a call with a friend sometimes ago, he told me how electricity in their area is very good. That is in Western part of the country.

But generally, we have poor electricity supply in Nigeria. In my area, we hardly have light and now the transformer is not good again after it was repaired 2 weeks ago. If you want to mine in Nigeria, you can do more research about where there is good electricity supply, so far you can pay for the electricity that you are using.

But the problem is, the electricity that is good here today may become bad, you should be prepare to change your location again. I am not a miner, so I may not have the accurate information. But I know that there are some miners in Nigeria, although they contribute negligible hashrate to the bitcoin network.

how profitable is mining here?

I believe bitcoin mining would be profitable in Nigeria, if you can have access to public electricity, not from diesel or petrol powered plant in your house. Mining with solar may also not be profitable in Nigeria.

Are you mining as a solo miner or through a mining pool?

Bitcoin mining difficulty has reached a very high level to the extent that solo mining has become not profitable unless the solo miner is very lucky. Best to join a mining pool.

what is the cost of setting it up?

It depends.

If you want to know more about the cost, research more on:

• ASIC cost (go for better ones that is generating terahash up to 100
• Cost of electricity the miners you bought will be consuming per certain period of time
• Also you may need cooling machines
• Cost of electricity the cooling machines will be consuming per certain period of time

Know that ASIC are making noise. You may need sound proof materials. I think you should make more research on this.

[Amphenomenon]

But the problem is, the electricity that is good here today may become bad, you should be prepare to change your location again. I am not a miner, so I may not have the accurate information. But I know that there are some miners in Nigeria, although they contribute negligible hashrate to the bitcoin network.

Overall the major issues Nigerians face in mining bitcoin is electricity but is mining altcoin like Bch, Doge and others profitable.

[Charles-Tim]

Overall the major issues Nigerians face in mining bitcoin is electricity but is mining altcoin like Bch, Doge and others profitable.

Mining bitcoin can also be profitable, also mining altcoins. It depends how close you are to access constant and cheap public electricity just like I explained above. But generally, electricity supply in Nigeria is poor.

[Nwada001]

It's just the knowledge and the funds to start the mining of a thing; if not, it could have been less expensive for me to conduct. 
I am lucky to come from a part of Nigeria where electricity is totally free. 
It could have been a bit profitable since electricity bills will be deducted from all budget expenses. It's just your maintenance that's if any of your appliance is damaged..

Overall the major issues Nigerians face in mining bitcoin is electricity but is mining altcoin like Bch, Doge and others profitable.

Mining bitcoin can also be profitable, also mining altcoins. It depends how close you are to access constant and cheap public electricity just like I explained above. But generally, electricity supply in Nigeria is poor.

 
If there is anyone planning on starting a mining company, I will definitely recommend Onelga LGA in River State, Egi, precisely because that's one place I know for sure that one is not going to think of all sorts of electrical bills and government settlements.

[uchegod-21]

I misread the OP as "Bitcoin mixers" in Nigeria.
Actually it is easier to have a Bitcoin mixer company than to mine Bitcoin in Nigeria. This is important now that chipmixer has paved way in the industry.
Talking about bitcoin mining in Nigeria, I believe we have discussed that in this board before where it was asked if the is a bitcoin mining pool in Nigeria?
If there's link to the thread it should be provided because it discussed it extensively.

[MeCsc]

I misread the OP as "Bitcoin mixers" in Nigeria.
Actually it is easier to have a Bitcoin mixer company than to mine Bitcoin in Nigeria. This is important now that chipmixer has paved way in the industry.

Can you enlighten me about the Bitcoin mixer

[Cantsay]

~~~
 Can you enlighten me about the Bitcoin mixer

Let's assume you bought a coin of $1200 from "Mr. Satoshi" and because he has your wallet address and because the whole concept of Bitcoin is transparent and anyone with your wallet address can monitor or track whatever transaction that you do (in this case Mr. Satoshi) and even if you decide to transfer your coin to a new wallet address they still can track it.

If you don't want them to track your transactions again that's where Bitcoin mixer comes in to save the day.
It's quite very easy. Create a new wallet address, go to a good bitcoin mixer and deposit you bitcoin into the deposit address generated by the mixer, and after sometime, your coin will be sent into your new wallet address (from a different wallet) that way no one except you will know who owns your new wallet address.

And if you still don't get it you can just click on my signature and navigate around the mixer to know how it works.

[DaNNy001]

It's just the knowledge and the funds to start the mining of a thing; if not, it could have been less expensive for me to conduct. 
I am lucky to come from a part of Nigeria where electricity is totally free. 
It could have been a bit profitable since electricity bills will be deducted from all budget expenses. It's just your maintenance that's if any of your appliance is damaged..

Overall the major issues Nigerians face in mining bitcoin is electricity but is mining altcoin like Bch, Doge and others profitable.

Mining bitcoin can also be profitable, also mining altcoins. It depends how close you are to access constant and cheap public electricity just like I explained above. But generally, electricity supply in Nigeria is poor.

 
If there is anyone planning on starting a mining company, I will definitely recommend Onelga LGA in River State, Egi, precisely because that's one place I know for sure that one is not going to think of all sorts of electrical bills and government settlements.

Yeah electricity is a major problem in Nigeria even outside of the fact of its involvement to mining. Starting a mining farm here in Nigeria is going to be really difficult especially as our government also has a restriction to crypto related issues but the good side is that it's like they have started embracing the fact that they can actually harbor some benefits from taxing of crypto related transactions and have decided to train some people on cryptography technology. but one thing is still missing from all ends, which is the lack of knowledge of the technology surrounding crypto. I could bet that even if Nigeria had stable electricity, most Nigerian don't know much about harnessing the benefits that comes with crypto. I think a firm or training institute should be put in place for people or individual to actually study the technical aspects that's surrounds crypto.

[Agbe]

The electricity bill in Nigeria is expensive and the light is not even constant and so is not profitable for mining bitcoin.Other means of generating are  expensive also.

Electricity in Nigeria is the major issue in the Mining field, yes as you said electricity tariff rate is very high, I paid #10,700 for my apartment last month and when I asked the cashier about the hike fee of the bill, he told me that because light was coming regularly that was why the hike of price came, and I tried to know from him that the more the regularity of the light the more the bill increase and he told me with capital letter YES. So think of it how much one will pay if using NEPA light for mining.

Is there any Bitcoin miners in Nigeria?
If there is any, I have some questions

• how profitable is mining here?
• Are you mining as a solo miner or through a mining pool?
• what is the cost of setting it up?

Yes there are Miners in Nigeria and they are not depending on the Nigerian public light. But private light. Mining is one of the profitable investment in the crypto ecosystem. Each mining they make there is a unit of bitcoin they received. Like each transaction you make, the nodes in the blockchain made there percentage and that is the Mining fee you pay when sending coin from your wallet. I am not a miner and I believed Solo mining is preferable to pool mining, but if group people come together they can go for pool mining else solo is nice. The cost is depend on the cost of the equipment, in Nigeria the electricity will be the highest cost.
And in the electricity aspect, I will recommend Solar System for having 24hrs light. And that will cost you #300k which can carry whole system.

[Amphenomenon]

Yes there are Miners in Nigeria and they are not depending on the Nigerian public light. But private light. Mining is one of the profitable investment in the crypto ecosystem. Each mining they make there is a unit of bitcoin they received. Like each transaction you make, the nodes in the blockchain made there percentage and that is the Mining fee you pay when sending coin from your wallet. I am not a miner and I believed Solo mining is preferable to pool mining, but if group people come together they can go for pool mining else solo is nice. The cost is depend on the cost of the equipment, in Nigeria the electricity will be the highest cost.
And in the electricity aspect, I will recommend Solar System for having 24hrs light. And that will cost you #300k which can carry whole system.

According to Charles-Tim reply Solar may not be profitable and also the drawbacks I see in solo mining is how profitable is solo mining during rainy season?
I don't think solo mining would be effective now since bitcoin mining is becoming harder for altcoin it may likely be better

[Agbe]

According to Charles-Tim reply Solar may not be profitable and also the drawbacks I see in solo mining is how profitable is solo mining during rainy season?

If solar wouldn't benefits Miners they would not used it, if I am not mistaken or I have forgotten the country, but I believed in Russia, they have a mining firm that uses Solar System. But what I will say is, if you want to use Solar System in Nigeria for mining it will affect you because of the weather condition in the Country, but if you are at the northern part of the country then it might favour you to some extent but if it is at the South South then you will run with lost. Therefore, you can backup with a generator then from the month of November to March, you can use the Solar System very well.

I don't think solo mining would be effective now since bitcoin mining is becoming harder for altcoin it may likely be better

I will say yes. All depends on your effort. If others are using it to make money, you can also make it from it. Bitcoin mining is not becoming more harder, they way it was that is how it is. The only problem we have in this part of the world (Africa), is our leaders who do not support bitcoin in their domains and also the inefficient of electricity.

[CryptopreneurBrainboss]

I don't think solo mining would be effective now since bitcoin mining is becoming harder for altcoin it may likely be better

I will say yes. All depends on your effort. If others are using it to make money, you can also make it from it. Bitcoin mining is not becoming more harder, they way it was that is how it is. The only problem we have in this part of the world (Africa), is our leaders who do not support bitcoin in their domains and also the inefficient of electricity.

You wan dey mine altcoins, altcoins wey go just fit vanish from the market without leaving a trace on how e waka? Even Bitcoin mining is not even advisable to engage in such since profitability no be something you fit associated with am for this side. I never hear say any Nigeria dey mine and all those things you dey see online like phone mining and cloud mining na just waste of time and I no go advise anybody to believe this things. Infact if you dey mine anything with your phone like actually mining and not the ponzi schemes wey full everywhere then you dey do more damages to your phone than any profit wey dat mining go give you.

If you dey find wetin go give you profit in the cryptocurrency industry there are better things to engage yourself with which are better than mining especially for Africans. We get trading, investing wey dey in different forms. This investing na broader topics so I go leave am but you see the basic investment strategy wey be say you go just buy and hold a coin is actually more profitable than mining. You see all the capital you go need to start up a mining farm, if you carry am just buy Bitcoin and hold, at the end of the day you go cash out majority and no forget the expenses for mining no dey end for the set-up day

[royalfestus]

All miners in the world face the challenge of electricity, but I found that Nigeria had one of the cheapest electricity supplies, so the biggest challenge is irregular electricity supply. Electricity regulations are not applicable to bitcoin mining, as they are everywhere else. The other challenge is assembling the gadget for mining, which is not cheap

[Charles-Tim]

Electricity in Nigeria is the major issue in the Mining field, yes as you said electricity tariff rate is very high, I paid #10,700 for my apartment last month and when I asked the cashier about the hike fee of the bill, he told me that because light was coming regularly that was why the hike of price came, and I tried to know from him that the more the regularity of the light the more the bill increase and he told me with capital letter YES. So think of it how much one will pay if using NEPA light for mining.

Is it postpaid or prepaid? I guess it is postpaid, not accurate calculation of the amount of electricity used.

As far as I know, electricity usage is not high in Nigeria if compared to western nations, and US is having the highest bitcoin mining hash rates. Purchasing power in those developed countries are much more than in Nigeria, also goes to electricity cost.

Maybe this can be helpful about electricity cost: https://www.globalpetrolprices.com/electricity_prices/

You can use the link to check both for household and business. Also use the methodology used.

Yes there are Miners in Nigeria and they are not depending on the Nigerian public light.

Do you have any prove that bitcoin miners in Nigeria do not depend on public electricity? Do you know that there is possiblity of miners to use public electricity and pay less? We are Nigerians and I have read many news like that in China before the crackdown on mining that got mining hashrate to zero in China before it started to increase back again.

About mining with solar, maybe it is possible that is can be profitable. I put a link up there about a question I asked on mining discussion and experienced miners and other posters are pointing towards mining may not to be profitable in Nigeria with solar. Although, you can give it a try, but it is not what I can risk money on.

About supporting the mining with generator. Have you on your generator normally before with certain amount of fuel and see the amount of hours it will take before the whole fuel is consumed? If you use air conditioner, the hours can be reduced to divided by 2 of the normal hours it supposed to use. Miners are consuming electricity and it is like you are underestimating it. Mining with fuel generator will only lead to loss, even if used as support.

And in the electricity aspect, I will recommend Solar System for having 24hrs light. And that will cost you #300k which can carry whole system.

Maybe you just want to use the solar to power your energy reserving less consuming energy light bulbs, blender, television and laptop which are less consuming electricity and I still do not think 300000 naira solar with battery can power those I just mentioned with 12 hours supply. It will only surprise you that the power supply is not sufficient to power just one modern day ASIC that generates up to 100 terahash per seconds.

If you need a solar panel, with battery to power such miner, you will spend million of naira on solar power. Also do not forget about the maintenance costs. Expect those Chinese battery not to last more than 3 to 5 years. Also solar panel may be bad or not be functioning properly again and may need replacement.

Infact if you dey mine anything with your phone like actually mining and not the ponzi schemes wey full everywhere then you dey do more damages to your phone than any profit wey dat mining go give you.

We get trading, investing wey dey in different forms.

Cloud mining are just scam. Phone mining is rubbish and also it is just no more than cloud mining because you will still depen on thrid party most likely (I mean bitcoin mining). Even how much hash rate phone can generate? Absolutely waste of time and waste of phone battery power. If anyone wants to mine, the only way now is to just join a mining pool with your miners which is what this thread is all about, or to be a solo miner if you are rich enough to become one, to the extent that it can lead to you having a mining pool.

About trading, it is easy to start, but it can be riskier than mining. I will advice just investment, or to just use the amount of money that someone can afford to lose to trade.

[Merit.s]

And in the electricity aspect, I will recommend Solar System for having 24hrs light. And that will cost you #300k which can carry whole system.

To use solar for mining is very expensive and I will not advise anyone to try this. You said #300k,this amount is too cheap to get on solar to mine bitcoin. At least up to #2m worth of solar panel and the installation, na e go fit mine bitcoin. Solar should be used as an alternative in mining, maybe you can use it when the sun is high and in the evening, you swap to electricity or vice versa. In raining season how will you mine bitcoin when there is no sufficient sun to use. Therefore solar mining is very expensive to use and will be impossible for an average Nigeria to mine solo. Electricity is very cheap in Nigeria compare to oversea but our problem is that light is constant like foreign countries. Also put in consideration that bitcoin was banned in Nigeria and if you are a miner you might just get caught up with the law,because na CBN itself dey against bitcoin.

[Charles-Tim]

Electricity is very cheap in Nigeria compare to oversea but our problem is that light is constant like foreign countries.

I guess this is what you mean:

Electricity is very cheap in Nigeria compare to oversea but our problem is that light is not constant like foreign countries.

Also put in consideration that bitcoin was banned in Nigeria and if you are a miner you might just get caught up with the law,because na CBN itself dey against bitcoin.

CBN has no say on bitcoin and crypto mining mining generally. I do not know if those that are distributing electricity has say on it, but highly likely. Also definitely the government has say on it.

[Lida93]

It's just the knowledge and the funds to start the mining of a thing; if not, it could have been less expensive for me to conduct. 
I am lucky to come from a part of Nigeria where electricity is totally free. 
It could have been a bit profitable since electricity bills will be deducted from all budget expenses. It's just your maintenance that's if any of your appliance is damaged..

Overall the major issues Nigerians face in mining bitcoin is electricity but is mining altcoin like Bch, Doge and others profitable.

Mining bitcoin can also be profitable, also mining altcoins. It depends how close you are to access constant and cheap public electricity just like I explained above. But generally, electricity supply in Nigeria is poor.

 
If there is anyone planning on starting a mining company, I will definitely recommend Onelga LGA in River State, Egi, precisely because that's one place I know for sure that one is not going to think of all sorts of electrical bills and government settlements.

You are correct mate, Onelga is one of the local government areas with constant power supply in Rivers state Nigeria as an oil producing community they don't have to pay for the constant electricity they receive. I have been their countless time and it's a plus for anyone planning of where to settle a mining farm.

Another place still in Rivers state of Nigeria that enjoys uninterrupted constant power supply is Bonny LGA, also an oil and gas producing LGA, recently they celebrate decade of uninterrupted power supply in their communities , all unpaid for as part of what they benefit as host community to the oil exploration companies. These are sites that can be economical and profitable for potential miners in Nigeria.

[Nwada001]

You are correct mate, Onelga is one of the local government areas with constant power supply in Rivers state Nigeria as an oil producing community they don't have to pay for the constant electricity they receive. I have been their countless time and it's a plus for anyone planning of where to settle a mining farm.

Another place still in Rivers state of Nigeria that enjoys uninterrupted constant power supply is Bonny LGA, also an oil and gas producing LGA, recently they celebrate decade of uninterrupted power supply in their communities , all unpaid for as part of what they benefit as host community to the oil exploration companies. These are sites that can be economical and profitable for potential miners in Nigeria.

You can come straight away to Onelga and start your mining company. Let me be your landlord; I will probably give you a space at a discounted rate 😏

Jokes aside, this thing that a few areas are enjoying in Nigeria could have been possible all over the country if our resources were being managed properly and channeled in the right direction. Electricity should not have been part of the calculated challenges Nigeria should face. 

[Agbe]

Maybe you just want to use the solar to power your energy reserving less consuming energy light bulbs, blender, television and laptop which are less consuming electricity and I still do not think 300000 naira solar with battery can power those I just mentioned with 12 hours supply. It will only surprise you that the power supply is not sufficient to power just one modern day ASIC that generates up to 100 terahash per seconds.

If you need a solar panel, with battery to power such miner, you will spend million of naira on solar power. Also do not forget about the maintenance costs. Expect those Chinese battery not to last more than 3 to 5 years. Also solar panel may be bad or not be functioning properly again and may need replacement.

I am a solar expert to some extent. A Solar that can carry a deep freezer and TV, electric iron can not carry the Mining machine? Let me give a break down of the solar I am using which is not up to the #300k that I earlier mentioned. Solar Panel 150W #36,500 x2, Controller #10,000 x1, Battery 200A, #120k, x1, Inverter 1KVA #45,000, Cable (2yards) #18,000 and Labor #15,000 and the sum total is #244,500 now what you just have to do is to add one extra battery. Backpack Bag Bitcoin Mining Machine is also there to use which can be put at your back move it along. Therefore the 1 million you mentioned is for a very big solar generating plant.

~

How do know that to use Solar in Nigeria is too expenses or are trying to make a guest work. It is nor. Do you know that people are mining bitcoin in their rooms, or palours? What do you think they are using, is it electricity plant? This are the statement people made that is making others to be afraid to go into mining business, mining is not expenses as you thought.

~

My broda that is GAS TOBINE and it is not NEPA as piple sae. Gas Tobine is most found in the rural areas, come to my LG, you will see dem many. Gas Tobine is good but when it has easy my broda in some times it take months for the Shell company to fix it for the community even though they have light in the House Boats.