Cool mining set up that more miners should copy.

[stompix]

Getting old cooking oil forever (years) can be done.

17 million population, 8 litre consumtion, 9.2 kWh per liter

So you have 72kwh per capita, that's 1 day of running an s19, but running 24/365 you will power about 40 000 with all the oil in the country.

Now this happens only:
- nobody eats a gram of that oil, not a gram is lost while frying, and all the oil that is used goes into the generator
- used oil has the same qualities as raw vegetable oil
- the machines are perfectly efficient

Since none of this is actually happening as half is eaten as it is and just by frying you lose up to 25% of the oil, and around 33% of its calorific value, and the efficiency is in the 30%, the numbers will probably be in the low thousands for the entire country!
So 1/2, 75%, 66%, 30%, and 40 becomes 3.

Now let's split the income of 1000 S19 to 17 million people, yeah, you got 15 cents a year!

[1714870950]

1714870950

[1714870950]

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[Wind_FURY]

Oh, the irony!
Just had a power failure while writing this post, I was going to kill somebody if the ups would have failed and lost it.

For those who replied negatively, listen, it's probably just a prototype showing that it could be done. Because why not, right?

Because scaling is a b1tch!
What works for a hobby miner it becomes impossible to run when you multiply it by a dozen.
1 S9? I can run it in my bathroom! 20? I will turn off the power on the street, my neighbors will call the police and I won't be able to hear even 10 cops cars over the noise, and probably from the heat my bathtub will melt before they arrive!

Same here, you got enough power for 5kw miners, how do you get the cheap or zero cooking oil for more?
It's like living on soda cans, you can pick a few hundred each day but can you pick 10 000 a day? Scaling!

You're right, but the point of the project is about the diversion of the waste. Instead of having something thrown somewhere, why not burn it and produce something with it?

If you're a miner and could have the opportunity to add the concept to your farm, why not? The concept could be more about helping the community around where you do business, than adding more Bitcoin to your profits. Breaking even after costs from such a project could, for me, be considered a success because it diverted waste into something more productive.

[Wind_FURY]

Bump!

Is this you, philipma1957?

https://bitcoinmagazine.com/business/nodal-power-secures-13-million-seed-round-to-drive-renewable-energy-transformation-at-landfills

 

Using the methane processed from waste to produce cheap energy for mining Bitcoin will probably be the next popular narrative during the next bull cycle. So if some Bitcoiners don't want to trade shitcoins, then perhaps if given the opportunity, maybe investing in clean energy mining-related stocks might be a better alternative?

Plus difficulty went up by 6%, but the price is currently down again. The miners are more bullish than the speculators?

[philipma1957]

Bump!

Is this you, philipma1957?

https://bitcoinmagazine.com/business/nodal-power-secures-13-million-seed-round-to-drive-renewable-energy-transformation-at-landfills

 

Using the methane processed from waste to produce cheap energy for mining Bitcoin will probably be the next popular narrative during the next bull cycle. So if some Bitcoiners don't want to trade shitcoins, then perhaps if given the opportunity, maybe investing in clean energy mining-related stocks might be a better alternative?

Plus difficulty went up by 6%, but the price is currently down again. The miners are more bullish than the speculators?

I wish it was me.

Miners with good power setups are endlessly bullish.
I profit as I type. Less profit then last month but still profit.

A miner with good power cost can structure certain profits as long as he or she is not a greedy moron.

As to big crazy profits like a buy and hold for 10 years no as it is more work to mine with less risk and lower profit than it is to buy and hodl for ten years.

Look at the diff rate today we are up 6% as I type.

https://newhedge.io/terminal/bitcoin/difficulty-estimator

Latest Block:   804555  (23 minutes ago)

Current Pace:   106.8591%  (172 / 160.96 expected, 11.04 ahead)

Previous Difficulty:   52391178981379.36                           
Current Difficulty:   55621444139429.57                           
Next Difficulty:   between 56316973197977 and 60170541114438
Next Difficulty Change:   between +1.2505% and +8.1787%
Previous Retarget:   Yesterday at 12:57 PM  (+6.1657%)
Next Retarget (earliest):   September 4, 2023 at 3:22 PM  (in 11d 23h 36m 21s)
Next Retarget (latest):   September 5, 2023 at 9:25 AM  (in 12d 17h 39m 0s)
Projected Epoch Length:   between 13d 2h 25m 57s and 13d 20h 28m 36s

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A lot of this growth is 3 and 4 cent power guys trying to push out all people over 6 cent power.

[stompix]

Plus difficulty went up by 6%, but the price is currently down again. The miners are more bullish than the speculators?

If we talk about this 6% jump it means that miners were bullish 6 months ago! 

6% at 400 exa is around 240 000 Asics, that's something around 720 MW, you don't set up things like this overnight.
If you go through press releases from Riot or Mara or other big players you will see some of them have already listed their plans for q4 2023 or een q1 2024, some are going all out some are just restructuring and some are just dropping their gear or returning it, like Core did to extinguish 40 millions of debt.

Using the methane processed from waste to produce cheap energy

Now, the problem! Is it really cheap? Because nobody is mentioning any price!

You're right, but the point of the project is about the diversion of the waste. Instead of having something thrown somewhere, why not burn it and produce something with it?
If you're a miner and could have the opportunity to add the concept to your farm, why not?

Hihi, that triggers memories, yeah, been there, done that and now I only have three miners in the basement, because with all subsidies for biofuel, with another set of subsidies for reducing energy demand through this, we still ended up this year barely a few cents under what the grid operator charges, so we would rather make heating pellets and sell them than burn it for electricity. And this is Europe, no way in hell you're going to compete with a gas or coal plant in the US without someone taking all the initial cost off your shoulders or the government actively subsidizing your business.