Chinese Bitcoin Mine That's Making $1.5M a Month - page 3.

mayax

legendary

Activity: 1470

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Quote from: RoadStress on February 06, 2015, 05:39:36 PM

Thanks to Vice we saw a bit of life in China, but the video is a bit confusing. In the intro they say that the mine generated 4050 BTC in November and the owner of the miner says that they generated ~100BTC per day which would equal to ~3kBTC per month. Either they run into a big loop of luck or something is wrong.

they lie, of course.

RoadStress

legendary

Activity: 1904

Merit: 1007

Thanks to Vice we saw a bit of life in China, but the video is a bit confusing. In the intro they say that the mine generated 4050 BTC in November and the owner of the miner says that they generated ~100BTC per day which would equal to ~3kBTC per month. Either they run into a big loop of luck or something is wrong.

M28MmickT

sr. member

Activity: 433

Merit: 250

BTG CEO

Quote from: ColderThanIce on February 06, 2015, 05:04:32 PM

Quote from: mayax on February 06, 2015, 04:49:48 PM

a lot of shit. it's only the BTC propaganda

the daily revenue is around 1 MIL per day for ALL the miners. maybe these chineses are the only miners.

the article says they make 1.5 million per month, not per day. even with the price drop, theyre probably still making 750k usd per month or so, which isn't bad at all. Cheesy

What is sh*t is having to be told by a newb you commented sh*t, nothing new though mayax hey.

Colder, business is business and you're right that isn't at all bad

ColderThanIce

sr. member

Activity: 373

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Quote from: mayax on February 06, 2015, 04:49:48 PM

a lot of shit. it's only the BTC propaganda

the daily revenue is around 1 MIL per day for ALL the miners. maybe these chineses are the only miners.

the article says they make 1.5 million per month, not per day. even with the price drop, theyre probably still making 750k usd per month or so, which isn't bad at all. Cheesy

mayax

legendary

Activity: 1470

Merit: 1004

a lot of shit. it's only the BTC propaganda

the daily revenue is around 1 MIL per day for ALL the miners. maybe these chineses are the only miners.

unamis76

legendary

Activity: 1512

Merit: 1012

Amazing! So these are the guys that appeared on several crypto media... They have nice farms going on! Seeing it in video just made me even more amazed.

Hope they keep up, even with declining prices. I wish I had such farms, haha Grin

redsn0w

legendary

Activity: 1778

Merit: 1043

#Free market

Awesome video , ~ 4'000 bitcoin per month it is very great. The unique problem now it is the low price of it, but maybe they can hold a part ( and pay the electricity bill + "workers").

girb16

newbie

Activity: 36

Merit: 0

Leave it to the Chinese to maximize output. They do it in farming and manufacturing, why not Bitcoin.

ebliever

legendary

Activity: 1708

Merit: 1036

The authors of the article sounded surprised that the operators live on site. That's actually pretty normal in China. I have a sister-in-law who is a rep for Chinese manufacturers and she's had to get used to that on her trips to China.

Granted their electricity costs are down, as well as BTC profits, but I wonder how viable they are when the cost of the frequent upgrades of their ASIC hardware is thrown in. I expect to see a good chunk of the manufacturing capacity for BTC mining hardware to disappear in 2015, along with serious consolidation between the hardware manufacturers. Unless the price spikes back up.

BitUsher

legendary

Activity: 994

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Quote from: hilariousandco on February 06, 2015, 02:31:52 PM

They sure won't be making 1.5 million a month with these current prices.

Oil is cheaper now so electricity may have gone down for them and difficulty has leveled off so they probably are making less but not that much less in profits. In addition on must consider them phasing out their old hardware and using newer hardware which could make them even more profitable as difficulty increases has flat-lined.

One neat thing is they don't have a heating bill as office and housing is nice and toasty. Would be better if they recaptured more of that heat though, perhaps they will do so to increase profits for future mines?

o0‡0o

full member

Activity: 227

Merit: 103

Have faith.

Quote from: hilariousandco on February 06, 2015, 02:31:52 PM

They sure won't be making 1.5 million a month with these current prices. I wonder when this was filmed? I watched the trailer earlier today but will watch the whole thing when they put it on their YouTube channel.

it was made when the price was $375

hilariousandco

global moderator

Activity: 3990

Merit: 2717

Join the world-leading crypto sportsbook NOW!

They sure won't be making 1.5 million a month with these current prices. I wonder when this was filmed? I watched the trailer earlier today but will watch the whole thing when they put it on their YouTube channel.

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

Quote from: o0‡0o on February 06, 2015, 01:58:41 PM

They have there own generator and as such depend on the oilprice, the real cheap black shit like they use on the big ships

That's actually brilliant.

o0‡0o

full member

Activity: 227

Merit: 103

Have faith.

They have there own generator and as such depend on the oilprice, the real cheap black shit like they use on the big ships

newIndia

legendary

Activity: 2226

Merit: 1052

Quote from: BitUsher on February 06, 2015, 01:42:10 PM

Chinese Bitcoin Mine That's Making $1.5M a Month

6 of these locations in china secure and process 3% of the Bitcoin transactions.

http://motherboard.vice.com/read/chinas-biggest-secret-bitcoin-mine

Is it Discus Fish anyway ?

AgentofCoin

legendary

Activity: 1092

Merit: 1001

Quote from: readysalted89 on February 06, 2015, 01:44:50 PM

Quote from: BitUsher on February 06, 2015, 01:42:10 PM

Chinese Bitcoin Mine That's Making $1.5M a Month

6 of these locations in china secure and process 3% of the Bitcoin transactions.

http://motherboard.vice.com/read/chinas-biggest-secret-bitcoin-mine

How much of that would be profit at today's prices? I don't know what Chinese electricity prices are.

Video says that their electricity costs are $80,000 a month. I think that is per location, but not sure.
Good video, i enjoyed it.
Thanks.

readysalted89

sr. member

Activity: 327

Merit: 250

Quote from: BitUsher on February 06, 2015, 01:42:10 PM

Chinese Bitcoin Mine That's Making $1.5M a Month

6 of these locations in china secure and process 3% of the Bitcoin transactions.

http://motherboard.vice.com/read/chinas-biggest-secret-bitcoin-mine

How much of that would be profit at today's prices? I don't know what Chinese electricity prices are.

BitUsher

legendary

Activity: 994

Merit: 1035

Chinese Bitcoin Mine That's Making $1.5M a Month

6 of these locations in china secure and process 3% of the Bitcoin transactions.

http://motherboard.vice.com/read/chinas-biggest-secret-bitcoin-mine

Topic: Chinese Bitcoin Mine That's Making $1.5M a Month - page 3. (Read 2992 times)