£16,000 ($23,209) for profitable Bitcoin Mining farm? - page 3.

Vociferous

newbie

Activity: 29

Merit: 0

Quote from: SFR10 on February 14, 2016, 12:26:37 PM

IIRC electricity there is very cheap, so that would be the ideal thing to do if your after having your own mining farm. I would advise on Antminer S7 only but If I were on your situation, I would wait until the halving is done before starting to order these miners as their price will surely go down and maybe even new miners pop out that would be more efficient. IIRC Bitfury introduced a new chip that would probably be the first choice once released so don't buy yet.

Hey,

Thanks for your reply. I aim to start in September. So plenty of time to shop around for miners and best rental spaces in Iceland and paper work regarding taxation etc. I am currently emailing data centers in Iceland to see their monthly renting prices.

V.

SFR10

legendary

Activity: 2968

Merit: 3406

Crypto Swap Exchange

IIRC electricity there is very cheap, so that would be the ideal thing to do if your after having your own mining farm. I would advise on Antminer S7 only but If I were on your situation, I would wait until the halving is done before starting to order these miners as their price will surely go down and maybe even new miners pop out that would be more efficient. IIRC Bitfury introduced a new chip that would probably be the first choice once released so don't buy yet.

Vociferous

newbie

Activity: 29

Merit: 0

Hey guys,

I am quite new to this, but I was considering starting a bitcoin mining farm. I was considering investing 16k. Do you think it is worth buying the hardware and setting it up in a data center in Iceland?

I know the difficulty is going up for Bitcoin reducing profits by $100 per month? Anyways I was thinking about buying the s7 antminers. Perhaps a second hand SP50!?

Anyways, any help would be great.

Thanks

V

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