MINING WITH SOLAR POWER | WHAT WOULD YOU DO IN MY CASE?

[desouza420]

Hello people
i have solar power installed in my house and lets say i have about free 500w that i can spend to a rig (with more than 500w i would spend more than i produce)
i have two options 
A) i can sell the extra power that i produce back to the electricity company thats about 1000smth euro per year or 100-120 per month and thats a stable profit
b) i can use all the remaining free kW to mine something
what would you do if you were me?
thanks in advance

[1715158494]

1715158494

[1715158494]

1715158494

[1715158494]

1715158494

[Wapfika]

Hello people
i have solar power installed in my house and lets say i have about free 500w that i can spend to a rig (with more than 500w i would spend more than i produce)
i have two options 
A) i can sell the extra power that i produce back to the electricity company thats about 1000smth euro per year or 100-120 per month and thats a stable profit
b) i can use all the remaining free kW to mine something
what would you do if you were me?
thanks in advance

Follow step A if that option is available because that's sure profit. You can always use that stable profit to purchase crypto currency instead of investing directly on mining that doesn't give you a sure profit. The migration of ETH from PoW to PoS removes the possibility of stable profit on altcoin mining since the rest of the PoW out there is already a gamble(except Bitcoin) because altcoins value is very unstable and volatile to the downward movement.

Buying crypto will makes you avoid the risk of owning a mining rig since it requires a proper care and maintenance which is just a waste of investment if your rig broke down after few months of mining.

[Bitcoin_Arena]

500watts (0.5Kw) isn't that much mate.

Remember mining gear has to always run day and night if you are to go anywhere close to the daily profit target. I don't know what kind of mining equipment you have but you can't even run some GPUs on power of 500 watts

[desouza420]

500watts (0.5Kw) isn't that much mate.

Remember mining gear has to always run day and night if you are to go anywhere close to the daily profit target. I don't know what kind of mining equipment you have but you can't even run some GPUs on power of 500 watts

i dont have any equipment but a rig with 2 powerful GPUS consume about 500w

[Bitcoin_Arena]

i dont have any equipment but a rig with 2 powerful GPUS consume about 500w

That would mean your solar batteries would sustain the GPUs for not more than an hour before they run out of juice if running in times when there is no sun like at night. Also during the day there will be fluctuations of light intensity from the sun due to weather changes so, you won't be able to run the equipment on that solar power constantly.

You would need a solar power system with capacity way more than 500w for it to handle the two running GPUs day and night.

Do you think it's worth it? Personally, I don't think so. IMO solar system is just good for backup.

[desouza420]

i dont have any equipment but a rig with 2 powerful GPUS consume about 500w

That would mean your solar batteries would sustain the GPUs for not more than an hour before they run out of juice if running in times when there is no sun like at night. Also during the day there will be fluctuations of light intensity from the sun due to weather changes so, you won't be able to run the equipment on that solar power constantly.

You would need a solar power system with capacity way more than 500w for it to handle the two running GPUs day and night.

Do you think it's worth it? Personally, I don't think so. IMO solar system is just good for backup.

no you got it wrong..lets not make it complicated . for simplicity lets say i have free 500w for 24/7 365
would it mine with it or take the profit by selling it back ?

[Bitcoin_Arena]

no you got it wrong..lets not make it complicated . for simplicity lets say i have free 500w for 24/7 365
would it mine with it or take the profit by selling it back ?

I haven't complicated anything. if a machine is rated 500 watts. That means, if it runs for an hour, it will consume 500 watts. So that will be it for you for a day. 1 hour of mining with all other factors constant.

I hope you have understood me. Though not so much, but I have some experience with solar power usage.

[batsonxl]

Option A is best. 100€ each month good profit you can buy coins for that money. If you go mining you need pay for gpu and thats alot then all day mining will not bring you 100€ equalent money for month.lets say you will buy used 2 3080 it will consume plus minus 500w, you need pay for gpus 700-900€ now your whole year profit allready gone.I would go option a and buy favourite coins for that money.

[JayDDee]

if a machine is rated 500 watts. That means, if it runs for an hour, it will consume 500 watts.

500 watts for 1 hour is 500 Watt hours. Watt is power = energy / time.

Anwer to OP: it depends on the energy cost vs mining earnings. Right now it's probably better to sell your excess.

[decodx]

i dont have any equipment but a rig with 2 powerful GPUS consume about 500w

If you don't have any mining equipment, then your options are even more limited. Keep in mind, even with free electricity, buying a mining rig will only pay off if the price of BTC goes up. This means that miners who buy equipment are basically betting that the next bull run will happen.

Given that you mentioned the ability to sell excess electricity generated, the best solution would be to do so and use the funds to purchase crypto. This approach allows you to indirectly participate in the cryptocurrency market without the need for mining equipment, thereby potentially capitalizing on the market's movements.

[Bitcoin_Arena]

500 watts for 1 hour is 500 Watt hours. Watt is power = energy / time.

Yeah, Watt hours. That's what I mixed up. My bad.

Maybe OP should specify what the actual capacity of his batteries is in watt-hours. The storage capacity will be the limiting factor since he is looking at the gear well within the 500 watt limit.

[JayDDee]

500 watts for 1 hour is 500 Watt hours. Watt is power = energy / time.

Yeah, Watt hours. That's what I mixed up. My bad.

Maybe OP should specify what the actual capacity of his batteries is in watt-hours. The storage capacity will be the limiting factor since he is looking at the gear well within the 500 watt limit.

With all due respect to Mr Watt, it's stupid to standardize to a derivative, it requires too much calculus. Imagine doing that for speed and distance? Oh, we do: light years.

I've never really found a good case for using solar to mine, they just don't fit well together. The best case is consuming overproduction when there's no way
to sell back to the grid, but that means the mining equipment is only running part time which lengthens the ROI.

Selling to the grid or storing excess always seems preferable.

[Stalker22]

~
what would you do if you were me?

You can research which cryptocurrency is currently the most profitable to mine with your hardware and try it out for a month to see how much income you can generate. This will give you a better idea of the potential earnings from mining and help you make an informed decision on whether to continue mining or sell the extra power back to the electricity company. It should be a simple calculation after that. Either continue mining, or sell electricity and buy crypto directly with that money. Also keep in mind that mining can put a significant amount of stress on your hardware, which can lead to a shorter lifespan and more frequent breakdowns.

[FP91G]

Hello people
i have solar power installed in my house and lets say i have about free 500w that i can spend to a rig (with more than 500w i would spend more than i produce)
i have two options  
A) i can sell the extra power that i produce back to the electricity company thats about 1000smth euro per year or 100-120 per month and thats a stable profit
b) i can use all the remaining free kW to mine something
what would you do if you were me?
thanks in advance

"100-120 per month stable profit"
Take your profit and don't think about mining. With your free 500 watts, you won’t earn even half of this amount, but you still need to buy a mining farm or asics.
Use your profit to buy cryptocurrency, or consider expanding the capacity of your solar power plant.

[fmz89]

Hello people
i have solar power installed in my house and lets say i have about free 500w that i can spend to a rig (with more than 500w i would spend more than i produce)
i have two options 
A) i can sell the extra power that i produce back to the electricity company thats about 1000smth euro per year or 100-120 per month and thats a stable profit
b) i can use all the remaining free kW to mine something
what would you do if you were me?
thanks in advance

500w solar power only manage produce 2,5kw/day at most so 2,5 x 30 =75kw x 0.1$ =  7.5$ monthly thats the truth

just if you can produce 82kw/day using antminer L7 nicehash scrypt you can get 20$/day,

to be honest to produce 82kw/day you need atleast 82/5= around 17kw sollar cell, and with some lifepo4 batteries to fuel 82kw capacity minimum

all those requirtment cost heavy, and yes you get more profit mining instead if you already had the facility & electricity company paid under 0.2$/kwh

[FP91G]

Hello people
i have solar power installed in my house and lets say i have about free 500w that i can spend to a rig (with more than 500w i would spend more than i produce)
i have two options 
A) i can sell the extra power that i produce back to the electricity company thats about 1000smth euro per year or 100-120 per month and thats a stable profit
b) i can use all the remaining free kW to mine something
what would you do if you were me?
thanks in advance

500w solar power only manage produce 2,5kw/day at most so 2,5 x 30 =75kw x 0.1$ =  7.5$ monthly thats the truth

just if you can produce 82kw/day using antminer L7 nicehash scrypt you can get 20$/day,

to be honest to produce 82kw/day you need atleast 82/5= around 17kw sollar cell, and with some lifepo4 batteries to fuel 82kw capacity minimum

all those requirtment cost heavy, and yes you get more profit mining instead if you already had the facility & electricity company paid under 0.2$/kwh

Maybe in his country, the state subsidizes green electricity and energy companies buy electricity at high prices for households. The batteries in the house will be enough for lighting at night, but not for mining, if it is not a lot of batteries. There are many ambiguities here, but if the author does not appear, then he has already made a choice.

[joker_josue]

A) i can sell the extra power that i produce back to the electricity company thats about 1000smth euro per year or 100-120 per month and thats a stable profit

This is the best option, resell that extra energy, and get those 100$ you claim to get.
With that money, you buy BITCOIN and get more coins than you can mine.

Regardless of your mining system, you should work with "safety" margins of 100-200w/h to ensure your equipment is always up and running.
Of course, if you are connected to the normal network, there is this margin. But, with your own production system, you have to have that kind of margin, to be able to ensure that it works.
This margin allows you not to overload your network or the equipment, as well as support the "peaks" that the equipment can generate at some point in operation.

[sxemini]

Dudes he specify it. He has 500w per h, so he has for the whole day 24x500w/h = 12kw/h per day

[FP91G]

Dudes he specify it. He has 500w per h, so he has for the whole day 24x500w/h = 12kw/h per day

Then I don't understand his electricity prices to earn 100-120 euros with 12kw/h per day or 360kw/h per month. Who buys electricity at 0.28 euro per kw/h? I know that such prices exist, but in these countries it is unprofitable to engage in mining, but it is better to build solar panels if there is a quota.