shanhaigamefi (OP)
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April 25, 2024, 08:15:11 AM |
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how would you build your mining farm?
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philipma1957
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April 25, 2024, 12:40:35 PM |
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how would you build your mining farm?
I would find cheap power. Before I did anything else. With out cheap power you lose.
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stompix
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April 25, 2024, 09:10:29 PM |
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Simple, you don't. Just like trying to grow bananas in Nanavut, mining with expensive electricity means losing time and money.
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TheUltraElite
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April 27, 2024, 09:53:30 AM |
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That amounts to a little more than 3 BTC at current market price of 63K USD and I would rather hold that bitcoin and invest in some casinos bankrolls to allow the money to grow. Mining itself need a set of miners, cheap electricity, maintainance and other costs. If you dont have access to such cheap ingredients, then the recipe will not work out or give the best "taste" Hence dont mine, rather buy bitcoin when it becomes cheap again.
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NeuroticFish
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April 27, 2024, 05:13:19 PM |
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how would you build your mining farm?
Nope. I would just buy some Bitcoins and watch them grow. Mining is a business. One with ups and downs. Just think: with ever rising difficulty, reward halving just a couple of days ago... it doesn't look like a good moment to enter (it could have been 1 year ago). Plus, until you gather a bit of experience... the next crypto winter may come.. you know, the moments the miners take a very close look whether they should continue or stop. Imho nowadays the proper way to enter this business is to also have you own production of electricity (probably solar). And I fear you may need more than 200k to get something proper. But my experience is limited and I may be wrong, look for other answers too (plus as @Yamane_Keto said, there are very good answers in the other topics, you may want to read those first).
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philipma1957
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April 27, 2024, 05:29:05 PM |
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how would you build your mining farm?
Nope. I would just buy some Bitcoins and watch them grow. Mining is a business. One with ups and downs. Just think: with ever rising difficulty, reward halving just a couple of days ago... it doesn't look like a good moment to enter (it could have been 1 year ago). Plus, until you gather a bit of experience... the next crypto winter may come.. you know, the moments the miners take a very close look whether they should continue or stop. Imho nowadays the proper way to enter this business is to also have you own production of electricity (probably solar). And I fear you may need more than 200k to get something proper. But my experience is limited and I may be wrong, look for other answers too (plus as @Yamane_Keto said, there are very good answers in the other topics, you may want to read those first). this is a great time to build a mine. but and this is the big but five or six cent power is a must. the s21 the modded t21 i did on my thread and ths L7 are very very very very good to make a mine with but you need five or six cent power. If you gave me the choice of 200k in btc or a proper mine with five cent power. I would want the mine. I could do 30 t21s which is about 120k and 10 L7 units which is about 50k and infrastructure setup which is 30k 200k would score good money doing this. better than buying the coins. but finding a real 5 cent power deal is hard to do.
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goldkingcoiner
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how would you build your mining farm?
I would only build a mining farm where it is worth mining. If the electricity is not cheap enough for a profit, then what is the point?
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philipma1957
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April 27, 2024, 09:49:23 PM |
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how would you build your mining farm?
I would only build a mining farm where it is worth mining. If the electricity is not cheap enough for a profit, then what is the point? yeah 2 year commitment for 5-6 cent power works. other than those numbers don’t bother.
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NeuroticFish
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April 28, 2024, 04:38:02 PM |
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this is a great time to build a mine. This is a surprise for me. I value a lot your experience, plus.. did you also take into account the fact OP said he's inexperienced? Extending a mine, possibly. Investing something in power generation? Yes. But new mine... hmmm..., I felt like it's late in the current cycle. But well, you do know better. If you gave me the choice of 200k in btc or a proper mine with five cent power.
I would want the mine. I don't doubt that. You have the experience and... the virus to say so
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Yamane_Keto
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April 28, 2024, 04:57:34 PM |
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this is a great time to build a mine. but and this is the big but five or six cent power is a must.
the s21 the modded t21 i did on my thread and ths L7 are very very very very good to make a mine with but you need five or six cent power.
I will choose to wait a little to see what Canaan and MicroBT will offer, as the latest version of the S21 Pro with the energy efficiency of 15J/TH, 234Th/s and a price of ~$5,500 means that the possibility of mining at a loss will be less, if Canaan and MicroBT provide better models. I will buy them, otherwise the S21 Pro is an ideal choice.
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えいごをはなせますか。
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philipma1957
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April 28, 2024, 09:23:15 PM |
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this is a great time to build a mine. but and this is the big but five or six cent power is a must.
the s21 the modded t21 i did on my thread and ths L7 are very very very very good to make a mine with but you need five or six cent power.
I will choose to wait a little to see what Canaan and MicroBT will offer, as the latest version of the S21 Pro with the energy efficiency of 15J/TH, 234Th/s and a price of ~$5,500 means that the possibility of mining at a loss will be less, if Canaan and MicroBT provide better models. I will buy them, otherwise the S21 Pro is an ideal choice. no as I said 5 or 6 cent power and t21's modded for this 200k price point is better t21 to my house for 3229 in under 2 weeks the mods to go to 1 phase 230 volts cost . 300 a unit. so 3529 a unit running at 190th doing 17-19 watts are killer compared to the s21pro which would be 5300 and come 3 months later. I save 1700 a unit and mine for 3 months ahead of time the s21 pro would take over 18 months to get close to my head start my problem is getting 5-6 cent power from a trusted supply
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cherrynaituo
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April 30, 2024, 03:15:47 AM |
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how would you build your mining farm?
Nope. I would just buy some Bitcoins and watch them grow. Mining is a business. One with ups and downs. Just think: with ever rising difficulty, reward halving just a couple of days ago... it doesn't look like a good moment to enter (it could have been 1 year ago). Plus, until you gather a bit of experience... the next crypto winter may come.. you know, the moments the miners take a very close look whether they should continue or stop. Imho nowadays the proper way to enter this business is to also have you own production of electricity (probably solar). And I fear you may need more than 200k to get something proper. But my experience is limited and I may be wrong, look for other answers too (plus as @Yamane_Keto said, there are very good answers in the other topics, you may want to read those first). this is a great time to build a mine. but and this is the big but five or six cent power is a must. the s21 the modded t21 i did on my thread and ths L7 are very very very very good to make a mine with but you need five or six cent power. If you gave me the choice of 200k in btc or a proper mine with five cent power. I would want the mine. I could do 30 t21s which is about 120k and 10 L7 units which is about 50k and infrastructure setup which is 30k 200k would score good money doing this. better than buying the coins. but finding a real 5 cent power deal is hard to do. It's true that the prices of miners are now down from what they used to be as well. Aside from the cost of power, which needs to be figured out and reduced, now is indeed the best time to get in the game
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FP91G
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May 01, 2024, 10:08:41 AM |
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how would you build your mining farm?
Buy 20 Goldshell AL-BOX ASICs. Your energy consumption will not exceed 3.6 Kilowatts Model AL-BOX from Goldshell mining Blake3 algorithm with a maximum hashrate of 360Gh/s for a power consumption of 180W https://www.asicminervalue.com/miners/goldshell/al-boxBut only you will need the services of an insurance company against risks and failures in this business.
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Dragon76
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May 01, 2024, 05:12:10 PM |
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how would you build your mining farm?
I wouldn't build my own farm. I would buy the miners and have hosted somewhere else and pay them a monthly fee. A lot faster and will be makin bitcoin in days. Let the people who already have the deals in place with the utilities deal with the headachs.
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FP91G
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I wouldn't build my own farm. I would buy the miners and have hosted somewhere else and pay them a monthly fee. A lot faster and will be makin bitcoin in days. Let the people who already have the deals in place with the utilities deal with the headachs.
If you give your equipment to other people, then most likely you will be cheated because you will not be able to control most of the nuances of mining, such as additional energy costs for cooling, forced downtime or repair time. Without a good engineer this business will fail. You can learn it yourself or look for a partner, but I would not give my equipment to other people or companies.
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philipma1957
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May 02, 2024, 12:50:30 PM |
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I wouldn't build my own farm. I would buy the miners and have hosted somewhere else and pay them a monthly fee. A lot faster and will be makin bitcoin in days. Let the people who already have the deals in place with the utilities deal with the headachs.
If you give your equipment to other people, then most likely you will be cheated because you will not be able to control most of the nuances of mining, such as additional energy costs for cooling, forced downtime or repair time. Without a good engineer this business will fail. You can learn it yourself or look for a partner, but I would not give my equipment to other people or companies. I would not be using a host. My deal in Clifton ,NJ went bad. I won’t say I was cheated. I will say I am unhappy about the handling of the end of the deal. We had from Dec 2018 to Jan 2024.
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Artemis3
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CLEAN non GPL infringing code made in Rust lang
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May 02, 2024, 09:06:10 PM |
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how would you build your mining farm?
You don't, buy bitcoin and hold. Wait for the next bear market to get cheap miners from those quitting the business after foolishly getting in debt during the bull. I have seen it so many times its even boring. Of course you need to move to a country with cheap electricity or perhaps even generate your own so the initial investment may not be worth it. Naturally the latest generation miner will be too expensive for a quick ROI, so perhaps a generation and two behind with the proper firmware can do the trick... Bear market is also good to get cheap coins, so its always been a choice. Maybe use half and half or something. In any case mining is destined to be less and less profitable over time, its only the bitcoin market price that keeps extending this, there will be a healthy variance of people coming and leaving but should gradually be more and more expensive to mine. Some people even mine "at a loss" because they hold all their sats for a better market future, and have fiat income to burn in bills and whatnot. That may be an interesting long term strategy. At this point people should have already diversified and paying in bitcoin and getting paid in bitcoin. You might as well move to El Salvador if you want this right now. Escape the fiat trap while you can, nobody can decree creating extra bitcoins when their budget doesn't fit, unlike fiat, always a time bomb... Of course if you are going to hold bitcoin you need to learn how to do it properly, how to create a cold wallet (its a piece of paper with handwritten words aka seed) learn the process well. In the next worldwide economic collapse, those who held to bitcoin will emerge. Of course non fiat physical objects are viable as well, if you are not in a place with a hostile State that can decide to confiscate your belongings, like the USA in 1933 decreed all gold belonged to the State and you were ordered to sell it to them for cheap... This is the other problem of a mining farm, it can easily be seized. Sadly i have seen it as well. Hiding a paper with 12 handwritten words is much easier, or the gazillion creative ways to steno-graph them so they are hidden in plain sight but you could also add encryption and other tricks into the mix, everyone should come with their own method, the State should not know, its them who destroy your wealth in the first place, inflation is the most tyrannical tax people can do nothing about. Less State, more freedom.
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spectre71
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May 03, 2024, 03:49:36 AM |
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Not enough money to make it worthwhile.
Better off putting it into bitcoin over a few diff wallets and enjoy life.
Garage style mining is over if weren't already in it.
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FP91G
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May 03, 2024, 01:27:50 PM |
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Not enough money to make it worthwhile.
Better off putting it into bitcoin over a few diff wallets and enjoy life.
Garage style mining is over if weren't already in it.
I recently watched a communication between Russian miners. They have a small capacity, no more than 10 megawatts, but their cost of bitcoin mining is roughly in the range of $30,000 to $35,000. I believe them, and that's why if you have the money, it's more profitable to mine bitcoin. Buying it at $59,000 is expensive. philipma1957, have you calculated your cost of mining bitcoin?
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