Topic: $2 million asic purchase (Read 599 times)

Imagine had OP invested when he made this post. Would have already double maybe tripled their money.  Can’t do that with no damn asic. 

BR

That's a plan without re-investing in ASICS. What if you re-invest the money 

hehe, yes, Serbia is far cheaper than California.

wow, that is dirt cheap compare to los angeles, just additional service of 5000 amps would cost 500k+ and would take 9-12 moths

It is 10 days - 2 weeks for 1 station to develop, and a cost of around 50k euros. It is good offer.

agree.. how long it took the power company to bring out the substation to the site? in los angeles, setup for mw substation would cost 2 arms and 2 legs. i would assume cost of building would be similar if not more than a cost of a data center

Currently we have 110MW power line at disposal at 0.65 eur/kwh. Substations, each for 3MW, are being build at the moment.
The investors already sold mining contracts, and they were doing cloud mining for the last couple of years on a 'smaller scale' around 500KW.

Not many people, especially new in the game, understand HODL, but want to mine. I personally left mining 2 years ago but still doing consultancy there.

spot on.. plus 99% of the existing building wont have the power capacity to support the kw need for such operation and new power is needed, they power you are looking at would probably need a substation builtout

Hello,

I've messaged you with regards to details let me know if you wish to get in touch!

Thanks,

THCG (The Hedge Coin Group)

You seem to be leaving out an important bit. Difficulty.  https://bitcoinwisdom.com/bitcoin/difficulty   

You also leave out the facility needed. Ac.  Power.  Etc.   look at the rise of all coins. Look at where we are on the stage of the game.  I stand by buying the coins.  Save yourself a major headache. And if you have to burn it somewhere wait for the new machines to come out. 

BR

You should throw all of this 'advice' away. People that think just buying coins and hodling dont really understand how this game works.

$2 million worth of s9s right now is about 1250 machines after buying PSUs.

1250 machines @ 13.5th = 16.875ph

16.875ph is worth roughly $50k per day. Calculate power at $0.06/kwh the daily profit is $42.8k

$48.2k x 365 = $15.62 million per year. Obviously there is other operational costs involved so say 20% goes to that, leaving $12.5 million in profit for the year.

Buying and hodling $2 mil in coins means the price needs to go up over 6x in one year to make the same profit.

Then you consider the fact that the hardware will be printing money for you for AT LEAST another 2 years at zero additional cost, the fact that the hardware has a strong resale value when you do decide to upgrade, and the fact that the coins you receive from mining will appreciate just as fast as the coins you would have just purchased with cash. Why would anyone choose to just buy and hodl while leaving millions of dollars on the table?

Yes the profitability is not a static number, these numbers are just to be used as a general example. If btc continues to rise faster than the network difficulty you will actually profit more than what I have shown with some basic back of the napkin math.

I agree that HODL is better strategy, but investors are running cloud mining services and therefore need more machines.

Do your investors a huge favor. Take that money and put it across to the top 10-20 alts. 50% bitcoin splitting the rest up depending on your research of each coin and how you think it will play a role in future.  Mining is a war amongst asic manufacturers now. I wouldn’t waste my time or money.  Again I say this ask any legendary member of this forum what would have been the better buy.  Coins or machines.  Hands down it would have been the coins.

Checkout coinmarketcap and really do your research.  I can’t stress this enough.  I can tell you haven’t done enough because your still looking to buy machines.

BR

Hi,

I have investors with $2 million they would like to spend on ASIC machines. Does anyone have any contact from sales in Bitmain or Bitfury? Or any other company that would be interested in this OTC trade.

Thanks