I should add, I typically buy gear if i can get my money back in 2-3 months tops, but once profits start to appear you must act quick. I bought 280x/290x's on a black friday sale, about $7500, literally days before newegg jacked the prices up. I was really lucky. If you act quick, before other people's hardware deploys, you'll do really well. Right now I typically run at a loss unless my rigs are rented out. On the doge run up in 2013 there was some 400-500 dollars days for a couple weeks.
I suspect there is a lot of hardware idling waiting to deployed right away, we'll need to see the price run up considerable, then have the difficulty plateau a bit, with still decent profit. At that time deploy new hardware.
Topic: I have 3KW of power that could be used 24/7 but... - page 2. (Read 3503 times)
I'm too late? Isn't coin mining something that is actively going on as a hobby and industry? From what I have read, it only costs a few grand to get into this and there seem to be LOTS of small players in this so am not sure why someone would be too late.
I can throw 5KW (and more) 24/7 into this if there is a value in it. I am generating my own power with a 10KW solar install that was being used to offset the cost of running the server room. That is why I have power to throw into something interesting.
What I am wanting to learn from this post is which type of mining is still worth doing, how can I start on a small scale, so I can learn more about it, adding resources as it makes sense. I have the power right now, I have a large amount of hardware left over from another venture but it seems CPUs aren't worth much so am looking for input on what might be worth trying/doing.
Thanks.
PS: This is an interesting article.
http://coinbrief.net/bitcoin-mining-worth-it/
[/quote
do you want some gear? are you usa based I am in New Jersey.
I have 4 spondollies sp20's and 1 ant miner s-5 plus I have psu's.
send me a pm and I can talk about a setup for you.
Basically you should start with 2 sp20's and 2 evga 1300 g2 psu's.
that is about 1 thousand dollars. It allows for more machines as you can run 3 to 4 units on a pair of evga 1300 g2's depends on your speeds.
if you clock the 2 units to 1450 gh each you will earn . your money back by august 31st
so every one that says do not do this is wrong.
you should mine you have free power. what you should not do is buy a ton of gear.
2 units of sp20 running at 2900 total will use about 1900 maybe 2000 watts.
your worst case is btc tanks it all dies off and you have 2 evga 1300 g2 psu's worth over 120 usd each. so your downside is spend 1000 usd and end up with 240 worth of psu's
here is the calculator
I can throw 5KW (and more) 24/7 into this if there is a value in it. I am generating my own power with a 10KW solar install that was being used to offset the cost of running the server room. That is why I have power to throw into something interesting.
What I am wanting to learn from this post is which type of mining is still worth doing, how can I start on a small scale, so I can learn more about it, adding resources as it makes sense. I have the power right now, I have a large amount of hardware left over from another venture but it seems CPUs aren't worth much so am looking for input on what might be worth trying/doing.
Thanks.
PS: This is an interesting article.
http://coinbrief.net/bitcoin-mining-worth-it/
[/quote
do you want some gear? are you usa based I am in New Jersey.
I have 4 spondollies sp20's and 1 ant miner s-5 plus I have psu's.
send me a pm and I can talk about a setup for you.
Basically you should start with 2 sp20's and 2 evga 1300 g2 psu's.
that is about 1 thousand dollars. It allows for more machines as you can run 3 to 4 units on a pair of evga 1300 g2's depends on your speeds.
if you clock the 2 units to 1450 gh each you will earn . your money back by august 31st
so every one that says do not do this is wrong.
you should mine you have free power. what you should not do is buy a ton of gear.
2 units of sp20 running at 2900 total will use about 1900 maybe 2000 watts.
your worst case is btc tanks it all dies off and you have 2 evga 1300 g2 psu's worth over 120 usd each. so your downside is spend 1000 usd and end up with 240 worth of psu's
here is the calculator
I'm too late? Isn't coin mining something that is actively going on as a hobby and industry? From what I have read, it only costs a few grand to get into this and there seem to be LOTS of small players in this so am not sure why someone would be too late.
I can throw 5KW (and more) 24/7 into this if there is a value in it. I am generating my own power with a 10KW solar install that was being used to offset the cost of running the server room. That is why I have power to throw into something interesting.
What I am wanting to learn from this post is which type of mining is still worth doing, how can I start on a small scale, so I can learn more about it, adding resources as it makes sense. I have the power right now, I have a large amount of hardware left over from another venture but it seems CPUs aren't worth much so am looking for input on what might be worth trying/doing.
Thanks.
PS: This is an interesting article.
http://coinbrief.net/bitcoin-mining-worth-it/
I can throw 5KW (and more) 24/7 into this if there is a value in it. I am generating my own power with a 10KW solar install that was being used to offset the cost of running the server room. That is why I have power to throw into something interesting.
What I am wanting to learn from this post is which type of mining is still worth doing, how can I start on a small scale, so I can learn more about it, adding resources as it makes sense. I have the power right now, I have a large amount of hardware left over from another venture but it seems CPUs aren't worth much so am looking for input on what might be worth trying/doing.
Thanks.
PS: This is an interesting article.
http://coinbrief.net/bitcoin-mining-worth-it/
3KW will get you about 7-8 THS for bitcoin mining, will generate about 0.08 BTC a day at current difficulty. Difficulty will continue to rise, about 5% increase every 12 days currently.
As someone said above, spend your $3000 and buy 12 bitcoins directly. Small-time mining is a dying breed at this point in time. You will never get your 12 coins back by mining now. You are at least 2 years too late.
As someone said above, spend your $3000 and buy 12 bitcoins directly. Small-time mining is a dying breed at this point in time. You will never get your 12 coins back by mining now. You are at least 2 years too late.
I have been doing some research, that is why I decided to post. Reading tons of stuff doesn't ever come close to what responses from real people who are doing similar things 
.
Thanks for the input, it is appreciated.
.Thanks for the input, it is appreciated.
I am not sure if this is in the correct forum but here goes.
This belongs in mining. I mentioned that I had many dozens of relatively idle CPUs which could be doing other work.
I was told that CPU based coins are not worth the time/effort at this point so I wanted to ask a similar question based on another resource.
That is correct, you can't do anything with your CPUs. I was told that CPU based coins are not worth the time/effort at this point so I wanted to ask a similar question based on another resource.
This 3KW of power, I look at as a resource so my question is, what kind of hardware might be worth building or buying in order to general coins which might have some value.
Do some searches on mining hardware. Checkout some ASICs like bitmain's S series.
If you're not paying for the power...
I did some rough calculations, with 8 antminer s3's you'll gross about 10 dollars a day, with 25~ nvidia gpu's you'll end up with about the same. Setting up a farm is a major undertaking. Gpus are more versatile, but require more maintenance. I run 30 gpus, it just breaks even these days. My rigs suck about 4-4.5Kw
Maybe 6 months to break even if btc price doesnt move much.
3000 dollars for hardware would buy you 12BTC, you will not earn that much with antminers ever, with increasing difficulty. I wont play the asic game. I spent 1000 dollars in 2012 for gpus and my entire farm is paid for twice over.
I did some rough calculations, with 8 antminer s3's you'll gross about 10 dollars a day, with 25~ nvidia gpu's you'll end up with about the same. Setting up a farm is a major undertaking. Gpus are more versatile, but require more maintenance. I run 30 gpus, it just breaks even these days. My rigs suck about 4-4.5Kw
Maybe 6 months to break even if btc price doesnt move much.
3000 dollars for hardware would buy you 12BTC, you will not earn that much with antminers ever, with increasing difficulty. I wont play the asic game. I spent 1000 dollars in 2012 for gpus and my entire farm is paid for twice over.
I am not sure if this is in the correct forum but here goes.
I asked a few months back, a question about generating coins. I mentioned that I had many dozens of relatively idle CPUs which could be doing other work. Those servers are always on, 24/7 as backup to another network so for the most part, they are sitting idle.
I was told that CPU based coins are not worth the time/effort at this point so I wanted to ask a similar question based on another resource.
I have some 3KW of power which I can use 24/7, again, mainly, that power is being used for a redundant network but soon, it will not be being used for anything so available for something else.
This 3KW of power, I look at as a resource so my question is, what kind of hardware might be worth building or buying in order to general coins which might have some value. I am not expecting to get rich from this but I would like to take part in what appears to be an interesting movement.
Thanks for your thoughts and input on this. I will answer questions if you have any as I was not sure what all to include for info.
I asked a few months back, a question about generating coins. I mentioned that I had many dozens of relatively idle CPUs which could be doing other work. Those servers are always on, 24/7 as backup to another network so for the most part, they are sitting idle.
I was told that CPU based coins are not worth the time/effort at this point so I wanted to ask a similar question based on another resource.
I have some 3KW of power which I can use 24/7, again, mainly, that power is being used for a redundant network but soon, it will not be being used for anything so available for something else.
This 3KW of power, I look at as a resource so my question is, what kind of hardware might be worth building or buying in order to general coins which might have some value. I am not expecting to get rich from this but I would like to take part in what appears to be an interesting movement.
Thanks for your thoughts and input on this. I will answer questions if you have any as I was not sure what all to include for info.
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