mining is like the tide
low tide = low profit
high tide = high profit.
it is low tide right now.
so the single most important thing in low profit times = power costs.
So the number one question for you what does power cost you?
if you are above 10 cents a k-watt do not get involved with a lot of gear.
the 3 best miners right now are:
bitmain s15 1250 usd plus tax plus shipping this makes a little if you have 10 cent power
bitmain t15
whatsminer m10 799 usd no tax to use if you buy 1 with shipping it is 880 this is in the red if you have 11 cent power on efficient setting
Topic: breakdown of mining costs (Read 240 times)
you could ask this guy: https://bitcointalksearch.org/user/philipma1957-64507 , philipma1957
he is pretty good at calculating this sort of things
or read his posts, he runs a rather effective solar array and some miners
you can have a look here :
https://whattomine.com/asic
this will give you an up to date rundown on the costs and profitability of the equipment
and to be thinking of mining at the moment is slightly optimistic, unless you expect bitcoin price to go to at least 6.500$ levels
anything lower than that and electricity costs of over 4-5 cents makes mining unprofitable
he is pretty good at calculating this sort of things
or read his posts, he runs a rather effective solar array and some miners
you can have a look here :
https://whattomine.com/asic
this will give you an up to date rundown on the costs and profitability of the equipment
and to be thinking of mining at the moment is slightly optimistic, unless you expect bitcoin price to go to at least 6.500$ levels
anything lower than that and electricity costs of over 4-5 cents makes mining unprofitable
https://bitcointalksearch.org/topic/first-timesmall-miner-reference-for-getting-started-4636521
Here's a good place to get started. It outlines what you need to consider before getting started.
Basically your cost is for your hardware, then whatever power it takes to run the gear, at your local electricity rates.
As for how often you need to upgrade. I'd say it's a necessity once your gear is unprofitable/obsolete. This point is different for everyone based on electricity rates and Diff increases, against current price.
Here's a good place to get started. It outlines what you need to consider before getting started.
Basically your cost is for your hardware, then whatever power it takes to run the gear, at your local electricity rates.
As for how often you need to upgrade. I'd say it's a necessity once your gear is unprofitable/obsolete. This point is different for everyone based on electricity rates and Diff increases, against current price.
Hi - there
I would like to ask for a general breakdown of mining costs (for bitcoin) if anyone has experience with this.
How much goes on electricity and how much goes on hardware ?
How often do you need update the hardware, is it once a year, once every two years?
Thanks in advance
G
I would like to ask for a general breakdown of mining costs (for bitcoin) if anyone has experience with this.
How much goes on electricity and how much goes on hardware ?
How often do you need update the hardware, is it once a year, once every two years?
Thanks in advance
G
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