Topic: £16,000 ($23,209) for profitable Bitcoin Mining farm? - page 2. (Read 2572 times)

Whilst a water cooled submerged container is an interesting idea  I think you will find that the boards are in tanks of Novec Fluid and that the Container is just a rendered concept.


Rich

Oh my god. Bitfury is the one where they utilize water cooling by submerging the "containerized data center"? I saw an article about a Bitcoin mine in China using water cooling and the miners were submerged completely under water!

You got any idea how much they costs? Their specs?

I'm not even sure I would count of SP50 at this point.  Bitfury beat them to the chip dev it seems.  So SP team has a chip that uses twice as much as bitfury.... and they have not shown a single chip that I know of.   So they might have lost the war before SP50 comes out, unless they can beat bitfury's price by a lot. 

And keep in mind they went head to head with bitmain during sp20 and S5 day's.  They reported loss twords end of it.  So I don't see them trying to go head to head with another company's price again.

Yes, you are right, the SP50 are only available to large well funded projects (just confirmed with the website). Perhaps by September there might be one second hand, but as you say there is no price available, and the official sales team wouldn't give me one either haha! So I guess I am stuck with the S7's for now, unless a new miner comes out by September.

Also, I have no idea why the S7 with power supply are being sold for so much by other companies? In UK average price is around 1500-1800 pounds per  S7 unit with power supply. BUT, if I ordered from the official Bitmain website, it would only cost $986.34/655.92 pounds (batch 9) and even with VAT and duty import charges that is still only around 200 pounds extra (855.92 pounds) and they only charge 52 dollars for shipping! With the pound to dollar conversion, I would be saving a lot of money.

THAT IS LIKE 644.08 POUNDS CHEAPER! People on ebay are literally outbidding each other well into the 1000 + pounds area. Lol, people really over estimate the prices from the official company. Although for some reason the batch 9 is cheaper than the batch 3. 

Looks like India would be cheapest electrcity! I'm going to email energy companies there for quotes and research just how unstable the supply is and in general how corrupt it is.

BTW - if the recent rate of difficulty increases continues, even at 3 cent/KWH an S5 will be UNprofitable probably in late May possibly sometime in June, the S7 and Avalon 6 will be bloody near unprofitable as soon as the halfing happens - and at higher electric costs it just gets worse fast.

 Have to find a NEW SP50 around somewhere first - so far as anyone knows outside of Spondoolies themselves or possibly someone under NDA, they seem to not be in existance or production yet.

 There has been NO announcement on price on the things anywhere public that I'm aware of (I've looked), just quite a bit of speculative guessing.



 While 7 cents/KWH (US) is fairly cheap, it's not VERY cheap or even close. 5.54 is getting close to the VERY cheap range, but definitly is not VERY VERY cheap 3 cent/KWH or less like most of the major farms seem to have access to - and if you expect to be profitable for the long term you've got to get at least fairly close to their ballpark.

Sounds like you found a deal for 6 cent's if that is correct and a good hosting center.    Might look into it more spending on VAT there.  I'm hoping after having some good one will offer .05.... but we will have to wait and see.

On 3rd world countries its just a lot easier then it sounds.  Your talking about places that a lot have corruption, not stable electric grid, theft, etc.   So HUGE possible profit's but just as big problems and possible risks.   Some have done it in countries such as Venezuela is a great example.  As long as it goes smooth huge profits.  If you have a issue... hard to tell how bad it can go.

i would suggest you spend money to purchase the coins rather than investing for a farm ,difficulty is increasing with passing time and its high time a new ASIC machine will be released by bitmain which will be twice faster than S7 . do take these things into consideration while investing into mining at this juncture of time.

I confirmed with Bitcoin Miners UK that they have a fixed rate of 4 pence kwh in Iceland, which is 0.06 dollars? Is that 6 cents? At least that's what an online conversion calculator said. I'm surprised no one is biting their hand off for their miners, 10TH/S for something like £3500 and they are water cooled and have low power rating! I just figured with the SP50's coming out 10TH/S will be too small/out of date.

I'm even more surprised, that no one has looked into 3rd world countries for electrcity, have you seen India!!!!?? It's ridiculously cheap, or tehran.

I will have to clarify with Spondoolies Tech, before confirming that :p. I was hoping one SP50 costs £13,970! Most likely you will correct me! :/

Where would you plan to buy the SP50?  They are not likely to be available via the normal channels.  Nice if they were.

As well what price did you assume for the SP50 when working out your profit?   It would be interesting to know your assumptions.

Our starting price for S7s is $52/kw, which is roughly 7 cents/kwh. To my knowledge, no one is hosting in Iceland for less than 9 cents/kwh, except on a multi-MW basis.

Great North Data, $52/kW is the price for new reliable gear like S7s. E-mail me at [email protected]. Given you're talking about a bulk order we may be able to work something out.

I know it's not the best source.  But wikipedia shows average of  5.54 us cent's/kwh for Iceland - https://en.wikipedia.org/wiki/Electricity_pricing

Are you saying you can beat 5.54 cents per kwh?

What's the name of your company, what's your kwh price?

Thanks

Hi,

Yes, the difficulty could indeed grow exponentially by September. Regarding the halving of the bitcoin reward, I was gutted to hear about by the way, I will still be making profit according to the calculations with an SP50 110 TH/S. I would have to buy two though to be making decent money (220 TH/S). But as you say the difficulty could grow, which would reduce profits, but I DO NOT want to rush into anything, I need to plan, research and be well prepared before investing. Smart investment.

We're located in Canada and far cheaper than Iceland.

We would need to know how cheap before we really recommend such a big investment.  Difficulty is just going crazy so I would want a really cheap electricity.

At this point I have my hobby mining area set up.  Wiring, cooling, a decent amount of PSU's.   These are things I have ROI'ed on already.  But for someone new they need to ROI on these things.... which add up so need pretty cheap electricity with current difficulty jumps.   They will have cost's besides miner on first setup.

Could you link or PM me the firms you are e-mailing?
I'm looking for something similar myself!

Thanks!

Sept?  You can email them for curiosity sake, but I'm going to suggest that you rethink this.  Reward reduces by 50% in July and the difficulty is nowhere near done growing.  You simply cannot make solid market predictions that far out.