Does it pay to mine in Denmark (0.35 $ / kWh)?

[klausenbusk]

Hello

The question is simple, can it pay to mine in Denmark (in a pool)?

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[terrytibbs]

Calculate for yourself: http://bitcoinma.appspot.com/

[BinaryMage]

Hello

The question is simple, can it pay to mine in Denmark (in a pool)?

Depends on the price of Bitcoin, the difficulty level, and the efficiency of your hardware. Right now, GPU mining is not going to be profitable for you, but FPGA mining would. Mining calculators like this one might be useful, though remember they're just estimates.

[klausenbusk]

@BinaryMage and @terrytibbs

It seems like i will lose -0.76$ per day, if i mine
But what is FPGA? I don't understand what i find on google.

[terrytibbs]

But what is FPGA? I don't understand what i find on google.

FPGA hardware is more expensive for mining than an equivalent GPU, but power consumption for FPGAs can be nearly an order of magnitude less.

Great for your situation, but still not ideal! Mining is a very competitive business, and if you have two-or-three times the electric rate of another miner, you are at a disadvantage from the start.

[someone703]

Yea, with FPGA (if I recall correctly) you'd be looking at paying like double what you would for a comparable mhash/s GPU but the kWh usage is like 1/10th of the usage making it much more efficient.

I've never really seen any mention how likely or easily one could resell their FPGA at a later date though since it seems to be very much a niche product.

With GPUs you can resell to other miners or other gamers.

[BinaryMage]

GPUs indeed have more resale value, though for you they would lose money. Honestly, I would recommend waiting at this point. FPGA mining may become viable for you in the future, but the ROI is pretty far out unless you build a DIY one, and without any prior experience I doubt you'd want to take that on.