New to the forum and need some mining advice for setup.

[TheCryptoBank]

Firstly, hello all!

I have been considering joining this forum for a few weeks now but thought it might be best to brush up on some of my knowledge before doing so.

Anyways, so i hope to become a valued member of the community and take a highly active part in various discussions and activities.

Now, where the "mining support" part comes in:

I am thinking of setting up my own mining rig. I want something quite impressive and am willing to go to the lengths to achieve this. Ideally i would want a setup with atleast 100Ths (correct me if i am wrong in my technical wording). Is this possible? What sort of mining hardware would i need?
I want to have a stable and reliable setup. Electricity consumption is not an issue. Space neither.

Let me know your thoughts on how practical this will be?

Any help will be greatly appreciated.

Kind regards,

[byt411]

Firstly, hello all!

I have been considering joining this forum for a few weeks now but thought it might be best to brush up on some of my knowledge before doing so.

Anyways, so i hope to become a valued member of the community and take a highly active part in various discussions and activities.

Now, where the "mining support" part comes in:

I am thinking of setting up my own mining rig. I want something quite impressive and am willing to go to the lengths to achieve this. Ideally i would want a setup with atleast 100Ths (correct me if i am wrong in my technical wording). Is this possible? What sort of mining hardware would i need?
I want to have a stable and reliable setup. Electricity consumption is not an issue. Space neither.

Let me know your thoughts on how practical this will be?

Any help will be greatly appreciated.

Kind regards,

Easy, Get a ton of AntMiner S3+s and a bunch of AsicMinerTubes. Done.
Gaining profit is another thing, since that highly depends on your electricity price.

Unless you have millions to invest in a large datacenter, don't even think about it.

[jonnybravo0311]

Firstly, hello all!

I have been considering joining this forum for a few weeks now but thought it might be best to brush up on some of my knowledge before doing so.

Anyways, so i hope to become a valued member of the community and take a highly active part in various discussions and activities.

Now, where the "mining support" part comes in:

I am thinking of setting up my own mining rig. I want something quite impressive and am willing to go to the lengths to achieve this. Ideally i would want a setup with atleast 100Ths (correct me if i am wrong in my technical wording). Is this possible? What sort of mining hardware would i need?
I want to have a stable and reliable setup. Electricity consumption is not an issue. Space neither.

Let me know your thoughts on how practical this will be?

Any help will be greatly appreciated.

Kind regards,

100TH/s is not a small endeavor.  You're looking at a pretty decent chunk of change to get that going, and you're going to need a pretty significant amount of power to do so.  Let's look at some examples:

1) 67 of the new Dragon miners (1.5TH/s each).  Cost about $1300 each.  Each is about 1100W.
2) 19 Spondoolies-Tech SP31 (5.5TH/s each).  Cost is $3920 each.  Each is 3000W.  Won't be available until end of October.
3) 221 Antminer S3 plus power supplies (453GH/s each).  Cost is 0.58BTC each.  Assuming you're on 208/230/240V power, you will need also 40 2000W server PSUs with breakout boards (will power 4 each).

As of right now, the only in stock hardware are the dragons, so let's say you went that way.  You need access to about 75kW of power to run them all.  Initial hardware investment will be about $85000 - $90000.  You'll also need a facility to house those units with enough airflow to get rid of all that heat.

[notlist3d]

I am thinking of setting up my own mining rig. I want something quite impressive and am willing to go to the lengths to achieve this. Ideally i would want a setup with atleast 100Ths

Are you talking about Scrypt Mining or SHA (Bitcoin) Mining?

I could see 100 MHz of Scrypt as very doable.  100 TH of SHA would take a very large setup.

[philipma1957]

Firstly, hello all!

I have been considering joining this forum for a few weeks now but thought it might be best to brush up on some of my knowledge before doing so.

Anyways, so i hope to become a valued member of the community and take a highly active part in various discussions and activities.

Now, where the "mining support" part comes in:

I am thinking of setting up my own mining rig. I want something quite impressive and am willing to go to the lengths to achieve this. Ideally i would want a setup with atleast 100Ths (correct me if i am wrong in my technical wording). Is this possible? What sort of mining hardware would i need?
I want to have a stable and reliable setup. Electricity consumption is not an issue. Space neither.

Let me know your thoughts on how practical this will be?

Any help will be greatly appreciated.

Kind regards,

100TH/s is not a small endeavor.  You're looking at a pretty decent chunk of change to get that going, and you're going to need a pretty significant amount of power to do so.  Let's look at some examples:

1) 67 of the new Dragon miners (1.5TH/s each).  Cost about $1300 each.  Each is about 1100W.
2) 19 Spondoolies-Tech SP31 (5.5TH/s each).  Cost is $3920 each.  Each is 3000W.  Won't be available until end of October.
3) 221 Antminer S3 plus power supplies (453GH/s each).  Cost is 0.58BTC each.  Assuming you're on 208/230/240V power, you will need also 40 2000W server PSUs with breakout boards (will power 4 each).

As of right now, the only in stock hardware are the dragons, so let's say you went that way.  You need access to about 75kW of power to run them all.  Initial hardware investment will be about $85000 - $90000.  You'll also need a facility to house those units with enough airflow to get rid of all that heat.

this is pretty accurate.  The 67 dragon miners can be had for 1200 each in a bulk order maybe less . If you order without the stock psu you would need to supply your own psu's Or pay 1300 with the stock psu.

  that is 87,100 usd.  you need a warehouse and you need  about a 90kwatt power supply .  that is possible for some.  you need fans for cooling the heat .  you need  cheap power 9 cents a kwatt or less.  good luck with that.

[TheCryptoBank]

Sorry for the delayed reply, i have been away on business and have secured a lucrative deal in terms of electricity supply! I have managed to get a deal that is extremely good in terms of price, actually it is so good that you might aswell class it as "free". So this helps to bring a major expense down to a complete minimum.

Anyways, thanks for all the replies! They have been very useful and i have taken note!

I have taken a good look at each option and have also carried out some research into some other models of hardware. The SP31' seem like a good choice and of course we are getting close to their stated dispatch time so they could be an option.

Now here's the next part in the plan: Funding! Obviously this is quite a complex subject for some.
We have an interesting proposal to interested investors. Something complete unique in terms of what is currently available to investors.
Now i have looked into various options and again am interested to gauge members thoughts and suggestions. We would ideally need somewhere in the range of around 120,000USD investment for plan A. Plan B is considerably more but then the returns are much more lucrative and the prospective investors would not just hold investment in the Bitcoin part of the enterprise.

What i would like to know is what are users thoughts on gaining finance? Is it doable? What route would you look into? We have considered BTCjam but are not too sure how good is the funding power there? And of course, as a primary investment offering such a high amount may be perceived negatively.
What are your thoughts? Also, what are your thoughts on the BTCjam business model? Is it something you would like to be involved in?

Looking forward to replies, thanks once again!

All the best,