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Hello,
Thank you for advice, but 3 or 5€ per year is very low. Maybe if I use this strategy i have to mine an other coin ?
To deal with more money you would need to use a bigger miner. As philipma1957 your landlord will notice at a point. You put in one miner maybe not depending on miner. But lets say 2-3 S5, SP20, Avalon 4.1's they will notice the electricity price going up.
I'm not sure your contract as far as what is ok and not ok. I have only had student housing that it would have been ok to do for "free"/included electricity. But as it would have raised my roomates rates 25 dollars each i did not mine and make them pay what was called the "peak rate". It just would have been a jerk move. In most housing contracts there is something to deal with if electricity go to high.
Of course if i use more he will ask me a bit more money to cover charge, but it will be the right price then.
It's a touchy subject a you really don't want to go to a landlord and mention mining. (I know within past 2 weeks I had one electrician practically run from doing a job when he saw a few miners sitting around. High electricity usage and unknown scares some.). But you might search online and see what electricity price is to get a idea from your location. Best would be to ask landlord make sure price of electricity and talk to him in advance before buying a bigger miner (I'm not sure if your contract allows to tack on a overage charge ontop). But I do realize this is a conversation you chances are do not want to have with landlord.
Ok thanks for the advice, i am gonna search a bit then
I am currently in the process of liquidating all of my mining equipment... A total of 50 T/hash of SHA256; and roughly 80 GPUs total.
The reason?I lost/am losing my free electricity. Without that-- I would likely not get into mining right now, unless the AC was cheap/or I had a well thought out business plan to make an ROI.
I have been in a long term commercial lease (large space and large power capacity) for 5 years.
My lease just happens to be up...
but at the same time; the building was sold to a new owner - who wanted to do a walk through after purchase and well... needless to say; after seeing our mining setup-- was not too happy. (We've been mining for over 14 months - highly profitable with zero AC costs).
So; the new landlord then digs up my lease; combs through the fine print, then sends me a not so nice letter demanding I cease all mining immediately (Basically our lease has a clause which describes our business/subletting/etc) - and that we will only operate "that type of business" under the lease - unless permission is given by the landlord.
They did not see mining bitcoins -
which is in effect at it's simplist form turning electricity into currency - as "our business description" when we leased.
So miners were shut down.
Now, this just so happened all within 30 days of the end of our lease anyhow... and it was unlikely I'd find another space with free AC and that kind of power for no charge. So liquidation was a likely possibility anyhow.
But going back to what others have stated: Lease agreements have all sorts of fine print that can be argued to favor the landlord. Leases both residential and commerical - will often use language like "reasonable use" when utilities are included. If your landlord does in fact see that you are pulling (in our case - 32,000 watts - 24/hrs day) - they will no doubt find any way to get you to stop. And their lease document will likely have clauses which allow them to do just that.
Now; to simply close out my comments; I'd like to address my standpoint on the ethics of our mining situation: 1.) I was actually going to purchase the building during the sale process,,, but we could not agree on the fair value of the property (about 1.6 million difference) - so during the initial negotiations; locking in the 2M loan for the mortgage, the credit checks; life insurance; etc - I had access to all of the financials of the building operations - and the building - even with our AC was highly profitable for the owner.
Second: I work in media/content delivery/production - and I contemplated making the argument "Well what if instead installed servers: video streaming servers/or a large networked render farms which could do cloud rendering on demand... similar to mining right? This could, given the setup- pull a high draw as well. And this setup WOULD be within my business description.
But 30 days out it wasnt worth the fight... It boiled down to the landlord didnt like "how" I was making money. Had I installed 32kW of servers - there would have never been a problem.
Which leads me to my last point: Much of the world still sees Bitcoin as a "shady" product to be involved with. The vast majority of the public has only heard about Silk Road; Bitcoin Corruption; Scandals; Buying Drugs Online; etc. So keep in mind that if you are called out on it - there could be reputation harm as well.
I don't think that was the case with my situation... but certainly something to consider.
Cheers,
Strato
EDIT: Also - we were highly profitable, and likely could have been as well even with AC costs which are high in my area. We followed the model of Bitmain. We purchased miners only with short pre-sale windows - never long term "reserve" orders. We used the miners to mine using clock speeds - not burning them out. And we then would sell the miners as soon as the next-better-faster-more power effecient product was likely to hit to the streets.
So if you do delve into mining: I would recommend giving high consideration to an ongoing churn/exit strategy of equipment. Always by cycling your equipment. Always be current generation mining; selling while at the end of that generation... but still will fetch a good price, etc. Don't hold miners long periods - because they become obsolete rapidly.
