ETH mining in Germany with Innosilicon A11 Pro

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: B1994 on July 20, 2021, 12:12:26 PM

Okay, I get your first point. But, first of all I already have a company and second the electricity costs are not scam. I get the electricity costs from the company of my father, who only pays 0.05 kWh EUR (thanks to good contracts with the energy provider, since his company uses a lot of energy per year). Regarding the taxes: the Htax factor in my county is 300%, meaning that if I make 38k Eur in profit I have to pay 7765€ Einkommensteuer (personal income tax) + 1417€ Gewerbesteuer (commercial tax), which makes 9182€ in total taxes paid after one year and would still leaves a profit of about 20-30k EUR IF Diff goes back to 30k and the BTC price only increases to 50k. Last part confirms your first statement of ROI = 3 years.

With such taxes, you will very much lose to miners from other countries.
In Russia, miners can legalize and pay from 4 to 13% of the money they receive from the cryptocurrency exchange. But many miners exchange cryptocurrency for fiat and pay nothing.
There are also small taxes in Kazakhstan, but a 25% mining tax is a lot and unprofitable.

B1994

newbie

Activity: 23

Merit: 1

Quote from: B1994 on July 20, 2021, 12:12:26 PM

Quote from: sxemini on July 20, 2021, 07:42:57 AM

Quote from: B1994 on July 20, 2021, 04:21:51 AM

Quote from: adaseb on July 19, 2021, 11:04:25 PM

Quote from: B1994 on July 17, 2021, 04:28:26 AM

Thanks all for the answers! Small update on the costs: I managed to get 0.05 EUR kWh electricity costs from a nearby company. But still, I guess ETH is not worth it to mine, but what about BTC? If I buy antminer S19 pro, which are still available for about 8-10k EUR, I could make a decent profit as passive income per year at such low kWh costs. What do you think?

Regarding BTC hashrate, keep this in mind. Currently the hashrate is lower than usual because of China banning bitcoin miners. So many miners shut down their farms and are either relocating their farms or just selling them off to other people.

So what this means is that the previous ATH hashrate will most likely return in the near future. Because those ASICs are still profitable and someone, somewhere will buy them and turn them on again.

So you need to run your calculations on a higher difficulty has a the one that we had a few months back.

Let's just see what happens if the difficulty would jump to 30T before I have payed back my investment:
(((((550.000.000.000.000* 6.25 * 600 * 65535) / 2^48) / 30.000.000.000.000) * 6 * 24) * 0.99) *365 = 0.83 BTC/year

For the yearly electricity costs:
17Kw * 24h * 365 days * 0.05€/kwh = 7,5k€

So basically, if I estimate what the bitcoin price would be in 1 year, for instance 50k multiply this with 0.83, then substract 7500€ I'll see how much income I have made. Now I have to see if this income is sufficient to pay back my initial costs for mining hardware. According to my calculations I would make 34k EUR in one year if the BTC price goes up to 50k again as well as the Diff to 30k. I think it all depends on the BTC price, because if the initial investment for hardware costs are 60k and I only make 34k profit per year, I need almost two years to breakeven. Does this calculation make sense for you?

ROI for the s19 is 3 or more years if you buy it for 8 - 10k. Innosilicon ETH miner is also not worth the money. Your problem is, you think it is so easy to get your money back, but you will only buy ASIC for horrible price. You must also pay tax in germany -> you must register a company and so on.
And again your electric price is not possible in germany -> if you get 0.05 cent than it is scam -> in our company we need 500 000 kwh in 1 year and our price is with all taxes, EEG and so is 0,22€.

Okay, I get your first point. But, first of all I already have a company and second the electricity costs are not scam. I get the electricity costs from the company of my father, who only pays 0.05 kWh EUR (thanks to good contracts with the energy provider, since his company uses a lot of energy per year). Regarding the taxes: the Htax factor in my county is 300%, meaning that if I make 38k Eur in profit I have to pay 7765€ Einkommensteuer (personal income tax) + 1417€ Gewerbesteuer (commercial tax), which makes 9182€ in total taxes paid after one year and would still leaves a profit of about 20-30k EUR IF Diff goes back to 30k and the BTC price only increases to 50k. Last part confirms your first statement of ROI = 3 years.

So I asked the CEO and the company uses 84mio kWh per year and they get electricity costs of 0.3-0.4 kWh EUR, even better than 0.05 kWh

B1994

newbie

Activity: 23

Merit: 1

Quote from: sxemini on July 20, 2021, 07:42:57 AM

Quote from: B1994 on July 20, 2021, 04:21:51 AM

Quote from: adaseb on July 19, 2021, 11:04:25 PM

Quote from: B1994 on July 17, 2021, 04:28:26 AM

Thanks all for the answers! Small update on the costs: I managed to get 0.05 EUR kWh electricity costs from a nearby company. But still, I guess ETH is not worth it to mine, but what about BTC? If I buy antminer S19 pro, which are still available for about 8-10k EUR, I could make a decent profit as passive income per year at such low kWh costs. What do you think?

Regarding BTC hashrate, keep this in mind. Currently the hashrate is lower than usual because of China banning bitcoin miners. So many miners shut down their farms and are either relocating their farms or just selling them off to other people.

So what this means is that the previous ATH hashrate will most likely return in the near future. Because those ASICs are still profitable and someone, somewhere will buy them and turn them on again.

So you need to run your calculations on a higher difficulty has a the one that we had a few months back.

Let's just see what happens if the difficulty would jump to 30T before I have payed back my investment:
(((((550.000.000.000.000* 6.25 * 600 * 65535) / 2^48) / 30.000.000.000.000) * 6 * 24) * 0.99) *365 = 0.83 BTC/year

For the yearly electricity costs:
17Kw * 24h * 365 days * 0.05€/kwh = 7,5k€

So basically, if I estimate what the bitcoin price would be in 1 year, for instance 50k multiply this with 0.83, then substract 7500€ I'll see how much income I have made. Now I have to see if this income is sufficient to pay back my initial costs for mining hardware. According to my calculations I would make 34k EUR in one year if the BTC price goes up to 50k again as well as the Diff to 30k. I think it all depends on the BTC price, because if the initial investment for hardware costs are 60k and I only make 34k profit per year, I need almost two years to breakeven. Does this calculation make sense for you?

ROI for the s19 is 3 or more years if you buy it for 8 - 10k. Innosilicon ETH miner is also not worth the money. Your problem is, you think it is so easy to get your money back, but you will only buy ASIC for horrible price. You must also pay tax in germany -> you must register a company and so on.
And again your electric price is not possible in germany -> if you get 0.05 cent than it is scam -> in our company we need 500 000 kwh in 1 year and our price is with all taxes, EEG and so is 0,22€.

Okay, I get your first point. But, first of all I already have a company and second the electricity costs are not scam. I get the electricity costs from the company of my father, who only pays 0.05 kWh EUR (thanks to good contracts with the energy provider, since his company uses a lot of energy per year). Regarding the taxes: the Htax factor in my county is 300%, meaning that if I make 38k Eur in profit I have to pay 7765€ Einkommensteuer (personal income tax) + 1417€ Gewerbesteuer (commercial tax), which makes 9182€ in total taxes paid after one year and would still leaves a profit of about 20-30k EUR IF Diff goes back to 30k and the BTC price only increases to 50k. Last part confirms your first statement of ROI = 3 years.

sxemini

member

Activity: 1558

Merit: 69

Quote from: B1994 on July 20, 2021, 04:21:51 AM

Quote from: adaseb on July 19, 2021, 11:04:25 PM

Quote from: B1994 on July 17, 2021, 04:28:26 AM

Thanks all for the answers! Small update on the costs: I managed to get 0.05 EUR kWh electricity costs from a nearby company. But still, I guess ETH is not worth it to mine, but what about BTC? If I buy antminer S19 pro, which are still available for about 8-10k EUR, I could make a decent profit as passive income per year at such low kWh costs. What do you think?

Regarding BTC hashrate, keep this in mind. Currently the hashrate is lower than usual because of China banning bitcoin miners. So many miners shut down their farms and are either relocating their farms or just selling them off to other people.

So what this means is that the previous ATH hashrate will most likely return in the near future. Because those ASICs are still profitable and someone, somewhere will buy them and turn them on again.

So you need to run your calculations on a higher difficulty has a the one that we had a few months back.

Let's just see what happens if the difficulty would jump to 30T before I have payed back my investment:
(((((550.000.000.000.000* 6.25 * 600 * 65535) / 2^48) / 30.000.000.000.000) * 6 * 24) * 0.99) *365 = 0.83 BTC/year

For the yearly electricity costs:
17Kw * 24h * 365 days * 0.05€/kwh = 7,5k€

So basically, if I estimate what the bitcoin price would be in 1 year, for instance 50k multiply this with 0.83, then substract 7500€ I'll see how much income I have made. Now I have to see if this income is sufficient to pay back my initial costs for mining hardware. According to my calculations I would make 34k EUR in one year if the BTC price goes up to 50k again as well as the Diff to 30k. I think it all depends on the BTC price, because if the initial investment for hardware costs are 60k and I only make 34k profit per year, I need almost two years to breakeven. Does this calculation make sense for you?

ROI for the s19 is 3 or more years if you buy it for 8 - 10k. Innosilicon ETH miner is also not worth the money. Your problem is, you think it is so easy to get your money back, but you will only buy ASIC for horrible price. You must also pay tax in germany -> you must register a company and so on.
And again your electric price is not possible in germany -> if you get 0.05 cent than it is scam -> in our company we need 500 000 kwh in 1 year and our price is with all taxes, EEG and so is 0,22€.

B1994

newbie

Activity: 23

Merit: 1

Quote from: adaseb on July 19, 2021, 11:04:25 PM

Quote from: B1994 on July 17, 2021, 04:28:26 AM

Thanks all for the answers! Small update on the costs: I managed to get 0.05 EUR kWh electricity costs from a nearby company. But still, I guess ETH is not worth it to mine, but what about BTC? If I buy antminer S19 pro, which are still available for about 8-10k EUR, I could make a decent profit as passive income per year at such low kWh costs. What do you think?

Regarding BTC hashrate, keep this in mind. Currently the hashrate is lower than usual because of China banning bitcoin miners. So many miners shut down their farms and are either relocating their farms or just selling them off to other people.

So what this means is that the previous ATH hashrate will most likely return in the near future. Because those ASICs are still profitable and someone, somewhere will buy them and turn them on again.

So you need to run your calculations on a higher difficulty has a the one that we had a few months back.

Let's just see what happens if the difficulty would jump to 30T before I have payed back my investment:
(((((550.000.000.000.000* 6.25 * 600 * 65535) / 2^48) / 30.000.000.000.000) * 6 * 24) * 0.99) *365 = 0.83 BTC/year

For the yearly electricity costs:
17Kw * 24h * 365 days * 0.05€/kwh = 7,5k€

So basically, if I estimate what the bitcoin price would be in 1 year, for instance 50k multiply this with 0.83, then substract 7500€ I'll see how much income I have made. Now I have to see if this income is sufficient to pay back my initial costs for mining hardware. According to my calculations I would make 34k EUR in one year if the BTC price goes up to 50k again as well as the Diff to 30k. I think it all depends on the BTC price, because if the initial investment for hardware costs are 60k and I only make 34k profit per year, I need almost two years to breakeven. Does this calculation make sense for you?

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: B1994 on July 17, 2021, 04:28:26 AM

Thanks all for the answers! Small update on the costs: I managed to get 0.05 EUR kWh electricity costs from a nearby company. But still, I guess ETH is not worth it to mine, but what about BTC? If I buy antminer S19 pro, which are still available for about 8-10k EUR, I could make a decent profit as passive income per year at such low kWh costs. What do you think?

Regarding BTC hashrate, keep this in mind. Currently the hashrate is lower than usual because of China banning bitcoin miners. So many miners shut down their farms and are either relocating their farms or just selling them off to other people.

So what this means is that the previous ATH hashrate will most likely return in the near future. Because those ASICs are still profitable and someone, somewhere will buy them and turn them on again.

So you need to run your calculations on a higher difficulty has a the one that we had a few months back.

FP91G

legendary

Activity: 1834

Merit: 1131

Use a calculator to calculate profit and payback
https://whattomine.com/
I understand that these will be approximate values, but this will give you an understanding of which ASIC is better to buy.
Now I would buy an ASIC for Ethereum, but the main thing is not to buy from scammers.
When you decide to buy, it is better to ask for advice in this thread.

B1994

newbie

Activity: 23

Merit: 1

Thanks all for the answers! Small update on the costs: I managed to get 0.05 EUR kWh electricity costs from a nearby company. But still, I guess ETH is not worth it to mine, but what about BTC? If I buy antminer S19 pro, which are still available for about 8-10k EUR, I could make a decent profit as passive income per year at such low kWh costs. What do you think?

adaseb

legendary

Activity: 3808

Merit: 1723

Quote from: DrX on July 16, 2021, 05:14:56 AM

NOTE FROM https://www.innosilicon.com

Fraud websites:
innosilicon.shop & innosilicon.us.com & innosilicon-a10-pro.com & innosilicon.company & innosilicon.shopping & innosiliconmining.tech & innosiliconSHOP.com & innosiliconMINERS.com & innosilicon.website & innosilicon.co.uk & innosiliicon.com & inņosilicon.com & innosilicon.online

I wonder how many people got scammed who spelled silicon incorrectly. I think the company should of bought the domains with wrong spelling years ago to prevent this from happening. Because if you are not careful the last 3 seem very legit for the untrained eye.

Back to OP, I think your power costs are way too high. If ETH keeps dipping and difficulty keeps going up your ROI won't be 60 days. Only way I see this paying off is if you get the ASIC early and ETH goes to like $5000 in the near future while the difficulty doesn't climb exponentially. I would just invest directly in some coins.

FP91G

legendary

Activity: 1834

Merit: 1131

Quote from: B1994 on July 16, 2021, 04:40:42 AM

Hello Community,

I was thinking of buying 4x Innosilicon A11 Pro 8 GB for ETH Mining. I got access to industry electricity costs in Germany, so I get 0.16 EUR kWh. IF I get original Innocilicon miner my initial investment including cables etc. would be around 20k EUR.

According to the calculation of https://whattomine.com/coins/151-eth-ethash?hr=8000&p=10000&fee=1.0&cost=0.2&hcost=20000&span_br=1h&span_d=24&commit=Calculate I would break even in about 60 days.

What do you think? Is it still worth to invest in ASICs for ETH mining, especially in Germany? I would like to hear opinion from experienced miners preferably

Would be really nice if you could send me reliable websites where I can buy the ASICs from.

Best regards

I would also like to buy an ASICs for $ 24,000, which gives $ 420 profit per day.
I will recoup my investment in 60 days and become a very rich miner

Do you seriously think that someone will make such gifts?
Even after the end of Ethereum mining, this ASIC will be able to mine Ethereum Classic (I have no information)

batsonxl

member

Activity: 1201

Merit: 26

20k euros waaww, hold your money and buy some coins when it is dirty cheap Cool

Lafu

legendary

Activity: 3136

Merit: 3213

Quote from: B1994 on July 16, 2021, 04:40:42 AM

Hello Community,

I was thinking of buying 4x Innosilicon A11 Pro 8 GB for ETH Mining. I got access to industry electricity costs in Germany, so I get 0.16 EUR kWh. IF I get original Innocilicon miner my initial investment including cables etc. would be around 20k EUR.

According to the calculation of https://whattomine.com/coins/151-eth-ethash?hr=8000&p=10000&fee=1.0&cost=0.2&hcost=20000&span_br=1h&span_d=24&commit=Calculate I would break even in about 60 days.

What do you think? Is it still worth to invest in ASICs for ETH mining, especially in Germany? I would like to hear opinion from experienced miners preferably

Would be really nice if you could send me reliable websites where I can buy the ASICs from.

Best regards

To Answer your Question straight i guess its not worth in Germany if you not have free electricity in Germany !
But yeah its everyones one decision what to do , i stoped mining a few years with Asics here because the electricity costs are to high.
Only free electricity will get you some profit.

Anyway , i guess you are german then and maybe you should be ask in our german board that question also .
Here are the German Board : https://bitcointalk.org/index.php?board=16.0 and i think you will be getting there your answers.

miner29

full member

Activity: 1275

Merit: 141

So you havent preordered….which means you wont be getting one this year…even if they do ship., which they havent yet and no update on if/when they will ship.

Also from a previous post power cost was pointed out as an issue.

What would be your pay off is Eth falls to $1000? $500….$100… These are all real possibilities….as you may not have noticed Eth is not gaining value lately.

B1994

newbie

Activity: 23

Merit: 1

Quote from: DrX on July 16, 2021, 05:14:56 AM

NOTE FROM https://www.innosilicon.com

Fraud websites:
innosilicon.shop & innosilicon.us.com & innosilicon-a10-pro.com & innosilicon.company & innosilicon.shopping & innosiliconmining.tech & innosiliconSHOP.com & innosiliconMINERS.com & innosilicon.website & innosilicon.co.uk & innosiliicon.com & inņosilicon.com & innosilicon.online

Thank you! Adjusted my post

DrX

member

Activity: 233

Merit: 20

NOTE FROM https://www.innosilicon.com

Fraud websites:
innosilicon.shop & innosilicon.us.com & innosilicon-a10-pro.com & innosilicon.company & innosilicon.shopping & innosiliconmining.tech & innosiliconSHOP.com & innosiliconMINERS.com & innosilicon.website & innosilicon.co.uk & innosiliicon.com & inņosilicon.com & innosilicon.online

B1994

newbie

Activity: 23

Merit: 1

Hello Community,

I was thinking of buying 4x Innosilicon A11 Pro 8 GB for ETH Mining. I got access to industry electricity costs in Germany, so I get 0.16 EUR kWh. IF I get original Innocilicon miner my initial investment including cables etc. would be around 20k EUR.

According to the calculation of https://whattomine.com/coins/151-eth-ethash?hr=8000&p=10000&fee=1.0&cost=0.2&hcost=20000&span_br=1h&span_d=24&commit=Calculate I would break even in about 60 days.

What do you think? Is it still worth to invest in ASICs for ETH mining, especially in Germany? I would like to hear opinion from experienced miners preferably

Would be really nice if you could send me reliable websites where I can buy the ASICs from.

Best regards

Topic: ETH mining in Germany with Innosilicon A11 Pro (Read 231 times)