50k Budget, New to Mining

[ron8]

Hey all, I’ve been interested in mining for a while now, used to GPU mine but nothing substantial. I have around $50k USD saved up, and I’m ready to start mining like a big boy. Does anyone have any advice on what machines I should purchase? I’m looking for something predictable, and that will hold its value. I was looking into the Goldshell AL box, but from what I can tell, once the bitmain AL3 releases, the AL box will be practically useless. Any help is appricated, thanks all ; )

[EastCoastASICRepair]

Would recommend S21s or Whatsminer M60s. Mining BTC is going to be the most predictable long-term

[NotFuzzyWarm]

Make and model of miner be damned - 1st question you have to deal with is: What does your electricity cost? If it is more than 5 or 6 cents per kWh then forget it.

[philipma1957]

Make and model of miner be damned - 1st question you have to deal with is: What does your electricity cost? If it is more than 5 or 6 cents per kWh then forget it.

yeah if you are not say 7 cents or lower do not mine.

bitmain t21
bitmain s21

and

bitmain L7

you also need  1 phase 220/240 power

you could do around 14 pieces of gear for 50k

but that is close to 52kwatts of power  an hour or 38,000 kwatts a month

at 7 cents a 2660 power bill
at 6 cents a 2280 power bill
at 5 cents a 1900 power bill

if you are 11 t21s they make 3200 usd a month pre power
you would have 3 L7's they would make 1822 a month pre power

so 5000 income against the power numbers above.

if I have reliable power deal that supports that much gear I would still mine

[mikeywith]

There is nothing predictable when it comes to mining, take a look at our difficulty speculation thread and you will see that most things in mining happen out of order, however, with that being said, Sha258 is the most saturated algorithm, there are billions of dollars worth of gears that are already online and running, so it's physically impossible for difficulty to do 2x in a month, whereby with almost all other algorithms, a 2x jump in a very short period is doable.

The next thing to BTC would be anything LTC, although it's a lot less saturated and still has a huge potential to grow, it's the second best and far better than all other algos, with that said, I second NFW and Phill, if your power rate is not below 6 cents, forget it, in fact, if you backtest the past decade mining yields vs buying coins and holding, you would probably find that in 90% of cases those who bought the coin and did nothing ended up making more profit, you need to be very lucky to buy mining gears at the perfect time and be met with the perfect conditions to end up making some real profit otherwise -- it's a waste of time.

Not to long ago when the S19 was first sold, for 0.5BTC, I dare anyone to say they made their ROI on that 0.5BTC investment, there is no way on earth that an S19 made half a bitcoin after paying the power bill, go a little further, S17 went for like 0.4BTC, probably only a few S17s on planet earth made as much up to today's date, it's all just psychological effects, mining gives you the illusion that you are somehow increasing your wealth, because you see incoming BTC every day, it's a lot easier for your brain to mine than to hodl, but in the vast majority of cases, after a few years have passed, you will always regret not buying coins instead.

The above is based on my very long experience with mining, I have a very good power rate, probably better than 90% of miners, but looking back at how much BTC I spent, had I just kept those BTC I would have been freaking rich by now, however, with all the gears I run now -- I am just way too far from rich.

[philipma1957]

There is nothing predictable when it comes to mining, take a look at our difficulty speculation thread and you will see that most things in mining happen out of order, however, with that being said, Sha258 is the most saturated algorithm, there are billions of dollars worth of gears that are already online and running, so it's physically impossible for difficulty to do 2x in a month, whereby with almost all other algorithms, a 2x jump in a very short period is doable.

The next thing to BTC would be anything LTC, although it's a lot less saturated and still has a huge potential to grow, it's the second best and far better than all other algos, with that said, I second NFW and Phill, if your power rate is not below 6 cents, forget it, in fact, if you backtest the past decade mining yields vs buying coins and holding, you would probably find that in 90% of cases those who bought the coin and did nothing ended up making more profit, you need to be very lucky to buy mining gears at the perfect time and be met with the perfect conditions to end up making some real profit otherwise -- it's a waste of time.

Not to long ago when the S19 was first sold, for 0.5BTC, I dare anyone to say they made their ROI on that 0.5BTC investment, there is no way on earth that an S19 made half a bitcoin after paying the power bill, go a little further, S17 went for like 0.4BTC, probably only a few S17s on planet earth made as much up to today's date, it's all just psychological effects, mining gives you the illusion that you are somehow increasing your wealth, because you see incoming BTC every day, it's a lot easier for your brain to mine than to hodl, but in the vast majority of cases, after a few years have passed, you will always regret not buying coins instead.

The above is based on my very long experience with mining, I have a very good power rate, probably better than 90% of miners, but looking back at how much BTC I spent, had I just kept those BTC I would have been freaking rich by now, however, with all the gears I run now -- I am just way too far from rich.

No question low cost power will make money and it is less risk than buy and hodl.

But mining almost never makes the money dca and hodl will make.

[mikeywith]

Power is the main factor, but still, mining is risker than just buy and hodl, when you buy BTC, your only risk is losing it, all you have to do is just keep it safe, it's only two tasks job, store safe + be patient.. with mining it's a lot of things involved, maintaining a mining farm is no easy job and you have been there, you are always at risk of gears falling, cooling issues, electricity infrastructure, difficulty growing way too fast.

Also with mining, there is another downside, you have to constantly sell BTC to pay the power bill, even if the price is low you don't have the option of holding during downside markets, in fact, it's even worse, the lower the price goes the more BTC you have to sell to maintain your mining operations, obviously, not all mining operations end up losing money, but as I said, for mining to beat hodl you need a lot of stars to align. one thing goes south and the whole project is rekt.