Question about mining and profitability?

[iTzCorky]

Hey guys I have been thinking about getting into mining some bitcoin and have been doing my research about it. I am thinking about buying 3 TH worth of Antminer s1's but everyone always talks about energy cost so I recently got my kw/h at about 0.0699 is this sufficient enough to mine with?

[rarkenin]

Well, you can do some calculation. The Antminer S1's power efficiency is given as:

Power efficiency:  2 W/GH/s on wall

We can determine that with 3TH, you'd be using 6kW. Let's type this into CoinWars (this is a link to a URL shortener info page, so you can verify I'm not dumping you onto a malware site). We're using Coinbase exchange values. This brings in $44.56/day at the current difficulty.

Assuming diff. doesn't skyrocket, and the price doesn't drop, you're looking at eventual profitability according to BitcoinX

[iTzCorky]

Well, you can do some calculation. The Antminer S1's power efficiency is given as:

Power efficiency:  2 W/GH/s on wall

We can determine that with 3TH, you'd be using 6kW. Let's /rIF2e8+]type this into CoinWars (this is a link to a URL shortener info page, so you can verify I'm not dumping you onto a malware site). We're using Coinbase exchange values. This brings in $44.56/day at the current difficulty.

Assuming diff. doesn't skyrocket, and the price doesn't drop, you're looking at eventual profitability according to BitcoinX

Thank Rarkenin. I have about another 20k im going to invest but I think I will do it with the s3's. My motto go big or go home XD.

[iTzCorky]

No problem, feel free to tip at 1EYhYbBKRSM85EaoUbgQmnCwQerQWL99so if it helped. I can also do the S3 calculation if you'd like.

Ok cool Rarkenin. Let me get my orders here and get them set up and running and I shall tip ya for the help

[Kprawn]

How stable is your electricity costs? Some countries have HUGE electricity increases every year, so people forget that electricity cost goes up.

Factor increased electricity cost into your ROI calculation. 

[iTzCorky]

How stable is your electricity costs? Some countries have HUGE electricity increases every year, so people forget that electricity cost goes up.

Factor increased electricity cost into your ROI calculation. 

Its fixed so no increase

[KimNam]

forget S1, it's time for S3
but i saw in S3 discussion, even for S3 price right now, it's still hard to make ROI
why don't buy 2TH or 3 TH hardware instead? look for cheapest $ / GHS and watt / GHS

[LightningBlade]

Hey guys I have been thinking about getting into mining some bitcoin and have been doing my research about it. I am thinking about buying 3 TH worth of Antminer s1's but everyone always talks about energy cost so I recently got my kw/h at about 0.0699 is this sufficient enough to mine with?

0.07cent/kwh is not low enough for ROI. Good luck with any miner..

[DrG]

The next difficulty jump is going to be over 10% at least.  We caught a breather with the 3% jump last time but we may not see that again for a couple months.

To guarantee ROI you need closer to 0.02 like WA state.  It's possible with 0.07 but you're slicing it thin.

[byt411]

Hey guys I have been thinking about getting into mining some bitcoin and have been doing my research about it. I am thinking about buying 3 TH worth of Antminer s1's but everyone always talks about energy cost so I recently got my kw/h at about 0.0699 is this sufficient enough to mine with?

0.07cent/kwh is not low enough for ROI. Good luck with any miner..

I bet everything that I have that 0.07 US cents per kWH, or $0.0007/kwh is definitely good enough for ROI.

[iTzCorky]

I expect to lose money until I hit my goal of 500 TH/s but I am just going with S1's for now I will go for s3's later on.

[iTzCorky]

The next difficulty jump is going to be over 10% at least.  We caught a breather with the 3% jump last time but we may not see that again for a couple months.

To guarantee ROI you need closer to 0.02 like WA state.  It's possible with 0.07 but you're slicing it thin.

I plan to switch to green is what they call it for my system. I have solar power but I can upgrade to go full green and get it for 0.03 which is great

[rmoraos]

Forget the energy costs, internet problems, stuck miners ...  mine in this cloud, cheap and reliable:

http://bit.ly/1rcFb3K

Best Regards.

[rarkenin]

Forget the energy costs, internet problems, stuck miners ...  mine in this cloud, cheap and reliable:

http://bit.ly/1rcFb3K

Best Regards.

Please do not use shortlinks. We don't know if they lead to coin-stealing malware embedded into web pages or not.

[philipma1957]

Hey guys I have been thinking about getting into mining some bitcoin and have been doing my research about it. I am thinking about buying 3 TH worth of Antminer s1's but everyone always talks about energy cost so I recently got my kw/h at about 0.0699 is this sufficient enough to mine with?

not only is your plan good  the gear can be down clocked and under volted  adding to your prfits.

 links for you:

https://bitcointalk.org/index.php?topic=589429.0




original undervolt- under clock link

https://bitcointalk.org/index.php?topic=526060.0

youtube over clock link

https://www.youtube.com/watch?v=72FU4Z_n0B4

youtube for under volt


UnderVolt Antminer S1 Video-Guide

http://youtu.be/Cj9hgoUnpTc

https://bitcointalk.org/index.php?topic=688408.0

and the thread for that on bitcointalk


at 7 cents a kwatt  you should do your down volt down clock at diff of  45,000 m to 50,000 m   if coins are around 625 usd at that time.

  you can do 140gh at 180/190 watts  with the pencil mod.

[DumDumz]

why did you not think to use ANTMiner S3?
excellent energy efficiency 1W/Gh/s .
Low price, hig has rate .

[Muhammed Zakir]

I would recommend you s3. Buy s3 instead of buying s1.
A simple comparison:

S1 : 180 GH/s          | Power Consumption : ~360 Watt from the wall
S3 : 478 GH/s±5%   | Power Consumption : ~366 Watt from the wall

I know the price for S3 is a bit higher than S1 but it is worth buying. You can consume power with good hash rate.
Kindly,
       MZ

[iTzCorky]

I would recommend you s3. Buy s3 instead of buying s1.
A simple comparison:

S1 : 180 GH/s          | Power Consumption : ~360 Watt from the wall
S3 : 478 GH/s±5%   | Power Consumption : ~366 Watt from the wall

I know the price for S3 is a bit higher than S1 but it is worth buying. You can consume power with good hash rate.
Kindly,
       MZ

Thanks for the heads up everyone I shall start investing in S3's right away. You guys are awesome