Topic: bad time or good time to buy asic miner (Read 343 times)

if they work simply sell them at 2x what you paid.

keep ½ the cash and put the other ½ into coins.

this means 1500 in cash becomes 1500 and 1500 in coins.

so the coins would be free.

Nice! There are definitely opportunities that pop up from time to time to buy equipment at below-market prices. That's why I prefer slowly building up more equipment over time, instead of buying it all at once. I also like ordering 1 unit of a GPU/ASIC first to learn how it works, then doing a bulk order.

I agree with you, bro

Yup I got them.  they turn on and hash as expected, noise levels are what I am expecting, no drops that i have seen so far.

I think the guy thought they were "computers".  he was not sure

Short questions:
Did you get the units, as are they in your possession right now?
Do they work at a full hash rate without strange noises and don't change out of the blue the pools they mine or the username?
In that case and of course excluding other shenanigans, yeah, it's a deal, end of march I saw kaboom selling the M31S+ for 5k, no clue about those Goldshell.

You haven't got them but you paid for them upfront, just please tell me it's not the case.

so a bit of an update on my situation.  I was checking facebook marketplace and I found someone selling 2 x M31S+ and  2 x Goldshell Hs5 units for $1500 each.  I am NOT joking and totally serious.  He did not know what he had.  Someone owed him money and offered these.  he took them and then tried to sell them.  I saw them and pounced.

Did I win the lottery?  First of all I cant find any of these units anywhere unless it is from ebay,etc for $8k++++

Remember I am entirely new to Asic mining (was a GOU miner for years).  These are my first units.  Did I get a deal?

I am always  disappointed about mining. I have to spand my many tims in mining. My opinion mind to say i don't expect this with mining.I think mining it's totally depend on our equipment  and technology.That's the point of view you have to enough this then this platform for you.I have always bad time in mining.Are you want to miner? Your need to high configuration cpu software and to enough knowledge a technology.Then you are a make good miner and you also buy asir miner.Then you can see a goid time for you.

The problem with repairing mining equipment is it's difficult to find enough electronic repair technicians who do it at a large scale. Repairing hashboards is probably a skill that takes months to learn, not accounting for the dozens of ASIC models on the market. BGA rework is expensive, so it's probably cheaper just to buy a new hashboard.

I do think there are opportunities for things like devfee removal, automatic shutoff when the electricity cost is too high (large farms usually have realtime energy prices) and even a web application for managing the customer relation stuff. The devfee part is very interesting because it could increase profit by 3-5%.

You're right that I don't need a large farm to do this kind of development. I can only afford a small warehouse with 50 ASICs / 200 GPUs (after ETH PoS) anyway. But I have no better investment to put the money into, and I think showing the medium-sized farm to potential customers will help sell the software and consulting. No other investment has the same tax benefits that mining does except maybe real estate.

This is true, but there are aspects of setting up even a medium farm that there are no 'professionals' for. The biggest problems are leasing a warehouse or leasing land, and asking the utility to install megawatts of power. This is really hard because there are so many utilities and every site is different. Sometimes you have to pay $30k upfront and the transformer takes 3 months to arrive, then it takes 1 month to install. Except for the mining containers, there is no guidebook to mining at scale!

What kind of software are you planning on writing? the mining field is pretty limited in that aspect, it's either a mining pool, a monitoring software, or firmware, none of these require having a large farm, just a few gears for testing, and a ton of coding skills and free time.

The other part would be the electrical and airflow design, you could learn a lot of things by trial and error when applying it to your own farm, but I am pretty sure a professional in those fields who knows nothing about mining will do a better a job.

With that said, if you really have the skills and time, then the best service you can offer would be miners repair, if you build the right team for it, you will make a lot of money, the only thing that is lacking in supply in all this mess are companies that can fix mining gears.

You made me think for a second those things went on discount and Bitmain is selling the hydro for the same price as the 19pro, that would have been something, you first said you will be making $26 a day from it there was no way you could ROI since Bitmain sells those for 15k but only with 50 MOQ (rumors) so you would still have needed 600 days to ROI at that profit,
Throwing in 5 cents per kWh, which is the average for a wannabe miner, a measly 1% in difficulty per month which we all know is going to be history by the time xp deliveries kick in, and a 5% increase per month in BTC price and you will ROI in two years, change the diff to 2% per month and you're done for.


You're missing other peoples' money to play with, very low-cost electricity as in 2-3 cents, discounts on bulk orders, tax deductions, and a lot more.


So I was off by what, two years? 
Seems like my stupid scenario of the gold rush is finally happening, with people throwing more money into this than they could ever hope to recoup and bringing down every hobby, home, small farm miner with them.

The coin trading markets are of course efficient, meaning it's impossible to time the market. But I don't think the mining equipment market is perfect. There are always plenty of suckers who buy video cards even when they know proof-of-stake is scheduled for July and has been going according to plan. I might regret purchasing the Antminer L3+'s in the end, even though they are at the cheapest price in the past year.

The reason I want to go larger scale is not necessarily to profit from the equipment. Miners never get rich, in general, unless they're already rich or mine & HODL during a bear market then the coin booms. I already know that. What I want to do in the end is software development / consulting for large scale farms, which is probably far more profitable and scalable than the mining process itself. But in order to do that, I need to have my own farm to develop/test the software on.

But anyway, one absolutely can get more coins with mining than buying, because there is a tax deduction up front for the equipment (at least in the U.S.). It is guaranteed that they get 22-37% of their investment back in a few months through their tax refund. There's no such deduction when it comes to just purchasing the coin. And if the farm owner keeps rolling their profit into more equipment, they pay 0% tax perpetually. When it comes to selling coins, there is a 15-20% capital gain tax.

There is a problem with your calculation method. What really affects your return cycle is your electricity cost. If you have good cost control, some BTC miners can make a return within a few months, such as S9, T17. Of course, at the same time you need a reasonable mining machine purchase price. It is important to find a suitable mining machine supplier, like me. Support newegg or ebay transactions, lol

This is called timing the market, if one can do it as perfectly as you describe it, they would be better off with just trading and not having to deal with all the mess associated with mining gears.

treating the gear as if you are holding that asset it mines is just a bad idea, when you invest in a mining gear it has to generate more of that given asset than you could otherwise buy with the cash you are willing to invest, or else, it's just a losing game, as it stands right now, most new gears have over 1 year ROI, thanks to the unlimited money supply the U.S investors have, they are throwing money at Bitmain and MicroBT and now Intel, like there is no tomorrow, some of them, will go broke that is for sure, but to many of them they don't play our rules, they recycle otherwise wasted energy and mine at a cost near zero, you are competing against those same people, so good luck.

Video cards can work without breakdowns in mining for up to 7 years, but ASICs do not have such reliability. Why are you now engaged in mining if there are a lot of risks that do not pay off the investment? With the massive development of mining in many countries, the profit in this area falls every year and you cannot buy as many asics at MSRP.

That tool doesn't seem to take into account the halving in early 2024.

I would also include the price of the equipment in the calculation. During a gold rush, not only does your equipment make more $$$, but the value of the equipment goes up. Let's say you own a few Antminer L3++'s and DOGE boomed, so you made a killing. The DOGE price is starting to fall. You can make even more profit by selling your equipment, then using all the funds to buy hardware for other algos that aren't overpriced.

Likewise, during a bear market, not only does your profit margin get squeezed; but your equipment falls in value too. It's better to try to sell if the price has went downhill for 1-2 months and the momentum has ended.

Yeah, agree if you have a high electricity rate the ROI will be more than 1year.  Unless you have free electricity from solar or wind turbines.

My calculation is from the total income calculated from asicminervalue.com which excludes the electricity rate but right now the total income for 1 year is changed due to an increase in difficulty and the price of Bitcoin.

So the ROI depends on the price of Bitcoin, Electricity rate, and difficulty and I think extra expenses like maintenance.

Adding this tool how long you will reach your ROI I tested it and the calculation is more than 2.5 years.
- https://www.mycryptobuddy.com/BitcoinMiningCalculator

Hard to tell where the crypto market will be in the next 5-6 months, so you can't really conclude if this is the best or worst time to buy. whattomine (https://whattomine.com/miners) ranks ASICs from the estimated most profitable to the least at the moment, but the highest ranked are either out of stock from the official stores or not yet produced.

Did you exclude the electricity price from your number? As per mining calculator, with s19 pro and electricity price like 0,06$ per KWh (which is a low price)  you will earn 17,5$ daily. So even with low electricity price it requires 1,5 years of non-stop work (may be longer if you consider halving) of s19 pro that costs 9,5$k + probably some other expenses.
So generally, OP is right. According to mining calculators, purchase of asic miner would pay off in about 2 years depending on your electricity price.


Right now, crypto mining is not a free money. For single individuals mining profitability depends on upcoming BTC price. If it rallies anytime soon then your purchase pays off faster.



Reported. Burn in hell.

I have a similar plan. I am going to buy up old-gen ASIC miners like the Antminer L3/S9/S15 in order to demonstrate a decent power demand to the utility. Since they're At 7¢/kWh, I know I won't make much profit with those, but I can get an immediate tax write-off and get a small warehouse started up in May/June. The point is to try to draw in a few initial smaller investors with the hardware they're already familiar with: ASIC machines, as well as start building a customer base by offering GPU colocation to people who have even 1 rig.

I won't be able to compete with the 4/5¢ mega-miners on cost, but I can offer non-voting stock (not a mining contract) in a real company who's responsive to their needs and can give personal attention. Why stock shares? Because the tax benefits pass through to them, which is one way I'll differentiate my operation from the others. "Instead of being locked into a fixed contract with this mega farm who's 4000 miles away, why not go with this little guy who's more likely to act in my economic interest by reacting quicker to the market?"

By July/August, ETH PoS should've happened. Video card prices will crash. That's when I'll turn around to tell the investors, "hey, in 2019 you could've bought a video card for $135, made $600 of profit on it, and sold it for $300 in 2021. This is the perfect opportunity to diversify by venturing into GPU mining". Hopefully they will trust me by then, and I can raise enough $$ to buy hundreds of video cards. I should fill the warehouse to capacity by then.

Then I would expand the farm to a new location with metal sheds or containers, while alternating between GPU/ASIC based on which route I think is best at the time. That's when I can start offering mining contracts.