Topic: How much can you make per month with 10th/s (Read 4168 times)

Depend as my real experiences and mining in my country, before halving day with 10 THs I got about $160 per month. For maintenance cost about $70, so get nett profit $90. Big factors for maintenance is electricity cost. But for now, I still turn off for mining, waiting the bitcoin price reach $900 or more.

 I'd refer him to Phil who has direct experience.

 9-)

We must count for maintenances cost and electricity cost, because the big factors is maintenance including electric cost.

It's rather expensive to start up, and it's difficult to repair. Most people won't be willing to spend so much on solar panels; it's usually not even worth mining if you have to find alternative sources of electricity (most times). Panels just aren't efficient enough for most people to use; you need to live in the right area to get ideal sun exposure and power output, and there's no guarantee that you'll have power 24/7. Plus, you'll need to wire your miners up to the grid to supplement for times when you don't have power. Most panels are also tested under laboratory conditions, and most won't even reach 70% of their rated output under the sun(which, by the way, is maximum. Some cheapo-brand ones do even worse, not even managing to reach rated capacity no matter how much sun they are exposed to.)

you can also refer to QuintLeo for a slightly more extended explanation, he does it better than I usually do.

 There are plenty of places in the USA you can get power for less than 10c / KWH.

 There are a few you can get under 5 even as a small miner.

 There are 2 areas you can get under 3 as a "home or VERY small business" miner, and another one next to those at a little over 4.


 That's ALL UP costs - keep in mind that there are some power companies *coughALLIANTcoughENERGYcough* where you end up paying more on the final bill for "surcharges and fees" than you pay on the base rate.


 THe problem with solar energy is 2fold.

 (1) The sun only shines part of the day, you have to have VERY LARGE battery banks OR a "grid tie" arrangement to keep the miners going 24/7
 (2) UP FRONT COST - when you amortise that over the lifetime of the gear, the end result tends to be a VERY VERY HIGH cost per actual killowatt generated.

 Keep in mind the solar panels are rated at their PEAK power output, with a high amount of sunlight feeding into them - their AVERAGE output is quite a bit lower over the course of a day, commonly 30-40% of that peak (less if you don't set them on a tracking mount, more if you do) and then you lose even more on days that are cloudy, rainy, or anything else that obscures the Sun for any part of the day.


 Similar issues apply to Wind power - you're going to get output at night, but even in places with a high "average" wind speed (NW Iowa for example, from personal experience) you still end up with periods of "not enough wind to turn the generator", others of "not enough wind to get full output from the generator", and sometimes "so much wind that the blades have to be feathered or the whole windmill turned out of the wind to avoid damaging or even destroying the blades and little-to-no output from the generator".
 You're not reliant on the sun, but the wind is even LESS predictable and a lot MORE variable on a shorter-term basis.

 If your power is $1 an hour you have bigger issues than trying to mine Bitcoin.  Also, I would like to see some proof that 1 person in 10 is making solar-powered Bitcoin mining a profitable venture.  They must have syndicated a TV show of their environmentally-friendly efforts because otherwise, there is no model using solar power and Bitcoin miners that will provide a positive return.  Maybe you mean SROI (social return on investment) because others will look on you favourably for not polluting the earth quite so much?
 

The only problem is that solar panels are expensive to set up and even more expensive to repair. Many people on this forum have tried using solar panels as an alternative to normal power, and 9/10 times roi was not reached, and those members have wasted money. Don't try panels unless you have electrical costs that are 1$/kwh or something- even then, the investment isnt worth it.

Solar panels  are good  on  mining  activity  because you would really save up  money on  electrical  charges  but  be  sure  to consider  the place  where you  put  those  panels and  we  know  solar panels are not  cheap,  it would really cost    you even  more . Back to  topic , 10 ths  is  jsut  like having  one  s9  miner  because   one  miner could max to 14ths but  profits would  still depend  on   your electricity cost.

Of course you could... but there's the up-front investment to get the solar panels.  Probably cost you less to move

What if you are not in a position to move to Chine, could you reduce your electricity bill by making use of solar panels?

I would have to move to China for the model to efficient in the first place 

It would be much better to give the earnings for the difficulty period and then adjust.  I know it's guesswork but if I remember correctly philipma1957, you recently suggested 4%?

So lets call it free electricity and 14 days ( by the way I'm getting 7.70 per day @ 10TH/s)


 I'm going to stop there.  That's 30 fortnights (or 60 weeks) of mining.

Total - $1902.59

I stopped there for the simple reason that @ $0.10 per kWhr ( or $0.0001 /Whr) the electricity cost = the earnings.  (yea I know we said free but I changed my mind!)

At this point the miner is no longer profitable since:
0.1 W/GH/s * 10,000GH/s * $0.00010/Whr * 24 hr/day * 14 days = $33.60

Now lets say you had to pay electricity for 30 periods = $1008
Subtract that from your earnings $1902.59 - $1008 = $894.59
You can't buy a 10TH/s state of the art 0.1W/GH/s miner these days for under $2100 so you're still out over $1000 and you can't make any more with that miner.

Don't give up hope, there are options.
1) difficulty wont increase by 4% per period which would prolong your miner's useful life

 okay, say it's only 3% - that gives you 9 more earning periods before the miner no longer makes more than it costs in electricity
 (magical math) $107.80 * (1-0.97³⁹)/(1-0.97) = $2497.88
 in that case you are up almost $400 (or < $1 for every day of mining you did)

2) bitcoin value could increase by x%

 I'm not going to do the math but trust me, it would be better to simply buy the bitcoin and wait.

3) You really do get free electricity!

Okay @ 4% difficulty increment that's  $107.8 * 1/(1-.96) = $2695  (not entirely accurate) actually $2656 up to the next halving then maybe another $20 to obsolescence
         @ 3% "                               "    $107.8 * 1/(1-.97) = $3593 (not entirely accurate) actually $3442 up to the next halving then maybe another $75  to obsolescence

Oh shoot!  I forgot to buy you a power supply... and you'll need a good one to last 208+ weeks of 24/7 mining.  That's going to eat into your profit.

4)  More efficient miners are produced.

You could upgrade and try to sell your old one for at least the difference between what you made to far and what you paid initially? (slim chance)

5) You could start with older machines if you don't pay for electricity.

If you get a good deal you can still make some money before they are rendered obsolete by the diff increments.

6) You could sabotage an industrial bitcoin mining farm to keep difficulty from increasing.  That wouldn't be right

Honestly, it's not worth mining bitcoin anymore for the average joe.  It's a hobby at best because there is only really one company still selling to the public in any real quantity and the prices they ask are very high; over 300 days to break even on the cost with free electricity and a freely available power supply unit. 

adaseb gave the free power number in usd and is correct.


okay with free power  10 th should be .35035 btc

with 10 cent power and .25 watt  efficiency  .05656 btc  this is what s-7 efficiency is

with 10 cent power and .10 watt efficiency .2261 btc this is what s-9 efficiency is


keep in mind price could move a lot and difficulty could move a lot

$214.50 per month

How much do you pay for electricity?

I understand that there are mining calculators out there but those results tend to be inaccurate, so I want to hear it from you guys. How much would I be making per month at the current difficulty after the block halving with 10th/s