Advice for mining

[cryptotraderuk]

I have been out mining for over 5 years a lot has changed. I have a budget of 20000 GBP for equipment whats best wat forward make make some serios money is it possible.

[NotFuzzyWarm]

#1 question you need to ask yourself is: What does electricity cost? If it is more than around 10 cents - forget it as it will cost you more to run than you can earn.

[BitMaxz]

Why not use some tools since you are looking for profitable ASIC units? If you have a cheap electricity then you can proceed to next step by looking for profitable unit.

You can use this tool: https://whattomine.com/asics or this one: https://www.asicminervalue.com/ and then just edit the power cost and it will automatically shows all profitable units.

Keep in mind to always buy directly from the manufacturer if you are going to buy a brand new.

[Emily357]

I think mining has helps a lot of people in this world. Alot of people have made it through the word mining because it help the people to know more about crypto currency and help people to understand how it goes and done.
I can use myself as an example, I started mining stuff since 2018 and up till now I am still doing them because it has help me alot too and I won't stop or give up on mining. I have experience alot about mining and how crypto currency goes, when and what to buy the coin and what type of coin will I buy for further to make enough gain

[Nexus9090]

I have been out mining for over 5 years a lot has changed. I have a budget of 20000 GBP for equipment whats best wat forward make make some serios money is it possible.

Forget large scale mining in the UK, unless you have free electricity then you'll never get a return on your investment.

You might want to consider hosted mining off-shore perhaps in the USA.

See this thread for someone who's using hosted mining.

https://bitcointalk.org/index.php?topic=5519779.msg64755302#msg64755302

[eb66]

#1 question you need to ask yourself is: What does electricity cost? If it is more than around 10 cents - forget it as it will cost you more to run than you can earn.

To really make a profit at mining over time, and to withstand the downturns in the cycle, you need power under 5 cents per kWh.

Mining is a cyclical game of inches. You are competing vs many skilled operators.