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Author Topic: My dilemma - some advice needed  (Read 560 times)
kenetixsystems
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June 02, 2012, 04:14:23 AM
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So I have a 400.00 a month office space lease. I used it for my work when I am not at my onsite job. I no longer need this space since acquiring a bigger home. Now I have approx 8 months left on this lease. Basically I am paying 400.00 a month for it to just bite the dust. Electricity, as well as utilities are all payed for by the landlord.

I have been bitcoining, for about maybe a month now I run about 800 mhash. I get about a coin every 2 days, now this obv doesn't equate to 400.00 a month. For all the pros here, what is some good advice, should I invest in some more mining rigs, approx how much mhash would I need to accomplish to go over 400.00 a month. Or would I be just better off paying the 3200.00 to break the lease?

I really enjoy bitcoining, but I am seriously wondering if this office space would benefit me in any way.


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Stephen Gornick
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June 02, 2012, 06:11:06 AM
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The term penny wise pound foolish might apply here.
 [Edit: Oh ... $3,200  to break the lease.  I first read that as $320.    Ya, man, if you are paying for the space regardless, put those free watt hours to work!  Are you sure you can't negotiate some deal to get out for a lower amount?]

A 5 Ghash/s operation will generate a little over $400 per month at the current difficulty and exchange rate:
 - http://ferroh.com/calculator

There will need to be some method that removes the heat for a 5 Ghash/s in an office area.

Also, you are assuming the landlord won't notice the $250 increase in the electric bill and that using the space for this purpose is not a violation of the lease agreement (sometimes they prohibit data processing gear or have caps on electric use).

If you had no restrictions on how much electricity you use and can easily vent then this could be doable, but then what do you do after the 8 months?

There might be a mining operator in your area that is looking to expand but is out of either physical space or electrical capacity who might be interested in subletting your space, but then for a period of just months, that's probably a deal killer.  [Update: But after noticing that you are describing paying the full rental amount regardless of whether you stay or not, ... this is now probably something  to consider.]


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June 02, 2012, 10:25:21 AM
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Quote
The term penny wise pound foolish might apply here.
 [Edit: Oh ... $3,200  to break the lease.  I first read that as $320.    Ya, man, if you are paying for the space regardless, put those free watt hours to work!  Are you sure you can't negotiate some deal to get out for a lower amount?]

A 5 Ghash/s operation will generate a little over $400 per month at the current difficulty and exchange rate:
 - http://ferroh.com/calculator

There will need to be some method that removes the heat for a 5 Ghash/s in an office area.

Also, you are assuming the landlord won't notice the $250 increase in the electric bill and that using the space for this purpose is not a violation of the lease agreement (sometimes they prohibit data processing gear or have caps on electric use).

If you had no restrictions on how much electricity you use and can easily vent then this could be doable, but then what do you do after the 8 months?

There might be a mining operator in your area that is looking to expand but is out of either physical space or electrical capacity who might be interested in subletting your space, but then for a period of just months, that's probably a deal killer.  [Update: But after noticing that you are describing paying the full rental amount regardless of whether you stay or not, ... this is now probably something  to consider.]



I'm sure several industrial fans would help bump up the electric bill as well Wink

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Faisal7
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June 02, 2012, 07:10:13 PM
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So I have a 400.00 a month office space lease. I used it for my work when I am not at my onsite job. I no longer need this space since acquiring a bigger home. Now I have approx 8 months left on this lease. Basically I am paying 400.00 a month for it to just bite the dust. Electricity, as well as utilities are all payed for by the landlord.

I have been bitcoining, for about maybe a month now I run about 800 mhash. I get about a coin every 2 days, now this obv doesn't equate to 400.00 a month. For all the pros here, what is some good advice, should I invest in some more mining rigs, approx how much mhash would I need to accomplish to go over 400.00 a month. Or would I be just better off paying the 3200.00 to break the lease?

I really enjoy bitcoining, but I am seriously wondering if this office space would benefit me in any way.



You're screwed. But isn't that what Bitcoin is all about? screwing yourself.

If you were to attempt to set up a 5 Ghash mining operation as one suggested, that would be a huge risk considering what it would cost you in time, money and energy to do that, and only to see that the day you got it all set up, Bitcoin value falls on its face.

Loser.

Just take your losses and move on if you have a clue.

1ZgMkR6iRRkyWGDyM48G5wqUepMD1KCuJ
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June 02, 2012, 08:16:03 PM
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Lol, Faisal, you are quite the Debbie downer. Trying to let off some steam about not being an early adopter?
Quote
You're screwed. But isn't that what Bitcoin is all about? screwing yourself.
I might even sig this

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
IveBeenBit
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June 02, 2012, 09:13:47 PM
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I'm more familiar with residential leases (so take what I say with a grain of salt), but to pay the full amount of your remaining term just to break the lease sounds pretty ridiculous to me. Have you read all the fine print in the lease? If not, then do so and check what the actual penalty would be.

Assuming the landlord really does want the full payment for the remaining months, sit down with him and see if he will cut you a break anyways as a "nice guy." You never know...he may have a better offer on the table from someone else but he could not let them move in because you were already in that space.

If he refuses, and you actually can put a bunch of computer equipment in the office (again, read the fine print for restrictions) then tell him, "Well, since I have to pay for this place anyways, I have a contingency plan to move a data processing center in here which will cost you $X in electricity per month for me to run, but at least I'll still be making rent payments."

If he says you can't do that, tell him it's not forbidden in the lease and you'll see him in court if he wants to push it. "Oh, by the way, did I mention that I'd be willing to buy out of this lease for a REASONABLE penalty?"

The point is to create too much expense and hassle for him. No one wants to go to court (including you).

This is all assuming you'd be allowed to do such a thing. Read the lease carefully if you haven't recently.

If you do wind up mining, check what amperage your circuit breaker is at. I have no idea how much juice mining takes up but if it's enough to heat a whole office you may start tripping breakers.
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