Topic: If you have $200,000，but no miners, no mining experience，and no cheap electricit (Read 511 times)

I will start with stating again that I am in favor of holding, not mining.


This is a pretty nice list, although OP can also buy second-hand directly from US for example; it could be more convenient as price and as delivery time, although there's a known risk of second-hand stuff that you don't know how much wear the hardware has already taken. Plus, there is some knowledge involved in the right settings for electric, network, cooling, error detection and so on, which OP has to "buy" in a way or another - either shipping his hardware into others' care (with possible risks), either hiring staff, either learning himself (possible to make more sense to learn from his staff while everything is running).


Interesting approach. But imho this involves quite a lot of knowledge and some luck too. I don't disagree, selling near an ATH and buying when there are lows can be a strategy. But not for most people imho.


This was also my point in this topic.


In 2016 there were quite a lot of options. Heck, Bitcoin itself was priced under 1k back then.

At first, you have to find a supplier who will send you miners, okay, we all almost buy exclusively from Bitmain. You have to buy miners from Bitmain, pay money to them, then have to wait to get them shipped and received in your country, you have to pay customs, you have to find a mining datacenter with low electricity costs, you have to set up miners, take care of their cooling, some of them might have problems and then you have to return them back and ask Bitmain for repair. I personally find it too much of a trouble, especially if you are far from China.

When I say trading, I don't mean frequent trading, to be honest. I mean to only trade a few times in a year, probably once or twice, you have to aim to catch only good moments, not every moment. History shows that even holding alone is very profitable, highly rewarding and less risky and problematic compared to mining. If it was 2016, I would suggest him to buy GPUs and start mining altcoins or via nicehash but today I think that it doesn't worth it to start a mining business, holding (or trading) is really a better alternative, especially now when halving already happened a month ago.

5-6-7 cents can all work if you are the only person running the mine.

And you live near it.

If you have 7 cent power and are 100 kilometers away from it it will not be worth it.

Worse case a 50 unit asic mine needs a visit 2 times a month.  My trips to Clifton NJ from Howell NJ took 2-3 hours round trip driving . fuel and tolls.  Plus time to fix the gear.  At seven cent power it is not worth doing that trip.

I assume many of those online calculators use some long average to estimate profits and they probably still take those 40btc blocks into account, as for today's actual payout, M63 would get you exactly $16.64 which rounds to nearly $500 just like you mentioned, not even close to $1000.

I think many of the comments above overthink their mining plans,  solar, wind, do this, do that! it's rather simple, you need 5 cents/kWh or less power rate, and a lot of money to start a meaningful mining operation, I'd say anything below 50-100k is not worth the efforts and you are likely better off just buying BTC and sit on your hands for 2-3 years.

M63 has
- 334Th/s , at 5 cents per th/s that's $500 a month
- 6.6KW, at 5 cents per kwh is $240
How did you get 1100 in profit per month?

I would make a more accurate calculation. A modern WhatsMiner M63 asic at 5 cents per kilowatt gives 1100 dollars profit per month. But I would rather take Antminer S21 with a more classic interface and connection method.
It is not profitable to rent a room for 10 asics, so it is profitable to mine if you already have a room or its rent is practically free.
Electricity I would pay from the mined coins to buy more asics.
For 10-15 asics in a ready room my expenses for electricity, ventilation, fire safety and video surveillance will not exceed 1000 dollars, because I will do everything myself.

Trading tends to be profitable for newbies when the trend is upwards, but let's be honest, it's even riskier than mining.
Of course, with enough coolness and good starting funds (which OP does have), it's achievable, at least in theory.
However, like mining, holding too is long term thing and imho it's the less risky, especially if we talk about more than 4 years time frame.


But I guess the answers depend a lot on the profile of the one responding - miners will suggest mining, traders will suggest trading, and the rest will suggest holding
I can agree though: OP lacks the experience and this comes with even bigger risk.

Now my question to you is why, why would you build a mining farm if you have no miners, no mining experience and no cheap electricity? To be fair, mining isn't the best investment option right now, after so many companies invested in mining and acquired cheap electricity. Mining difficulty is very high also. I can tell you with certainty that in some countries, mining business is on another level, for example, I live in Georgia and BitFury owns one of the largest mining datacenter here with a very cheap electricity. Do you know how is that possible? Oligarch, who controls the country is in mining business with BitFury, forced the government to create a tax-free law exclusively for BitFury and BitFury pays nothing when they import whatever they want in our country.
If I were you, I wouldn't start a mining business but I would trade with Bitcoin. Check trading charts and you'll understand how profitable trading can be if you are not in rush. With one or two successful trade in a year, you can make a decent profit.

What happens is the grind occurs two times.

say 65k price in nov 2021
down to 16k in nov 2022

that grind went for quite a while. say till nov 2023 at least a 12 month grind. I worked a lot of time and earned very little for those 12 months.


now this grind just started and this is fully negative as I lost my deal.

 if I had the deal in place I would be making under 1000 a month for may.

so working 25 hours a week to make 1000 usd is not worth it.



I post here and on altcoinstalks I earn 200 a week which is about the same the mining is doing.

Posting here is a lot easier.

we did earn 30-35 k a month for most of 2021 and some of 2022 I got 25%.

but earning 4-6k a month and I get 25% fuck it.

No,  let's looks at the numbers real quick.

let's say about half his investment makes it to buying miners. The rest would be electrical, racking fans, rent improvements. So that could be about 10 whatsminers. With cheap power that's about $10 dollars per day per machines. That's 2000 days until break even with no problem and not putting a dime in your pockets. Even if bitcoin doubled it's still crappy. Ten machines would be about 80kw ish in power, a spit of a small 10mw install. It's economies of scales issue.

The facts are clear, it's not going to ever realistically goingot pat off. Put the money in the coin and enjoy your life.

I was 50% of the price from dec 2018 to jan 2024 .

I paid ½ the btc I mined to the host.

that deal is done.

I can no longer mine at a profit.

I am selling my gpus on ebay at the moment.

If I mine it will be with three t21s and one L7.

I am looking for a host for say 14-20kwatts an hour.

And I am going to sell the rest.

I recently watched a communication between Russian miners. They have a small capacity, no more than 10 megawatts, but their cost of bitcoin mining is roughly in the range of $30,000 to $35,000.
I believe them, and that's why if you have the money, it's more profitable to mine bitcoin. Buying it at $59,000 is expensive.

philipma1957, have you calculated your cost of mining bitcoin?

Not enough money to make it worthwhile.

Better off putting it into bitcoin over a few diff wallets and enjoy life.

Garage style mining is over if weren't already in it.

You don't, buy bitcoin and hold. Wait for the next bear market to get cheap miners from those quitting the business after foolishly getting in debt during the bull. I have seen it so many times its even boring. Of course you need to move to a country with cheap electricity or perhaps even generate your own so the initial investment may not be worth it. Naturally the latest generation miner will be too expensive for a quick ROI, so perhaps a generation and two behind with the proper firmware can do the trick...

Bear market is also good to get cheap coins, so its always been a choice. Maybe use half and half or something. In any case mining is destined to be less and less profitable over time, its only the bitcoin market price that keeps extending this, there will be a healthy variance of people coming and leaving but should gradually be more and more expensive to mine. Some people even mine "at a loss" because they hold all their sats for a better market future, and have fiat income to burn in bills and whatnot. That may be an interesting long term strategy.

At this point people should have already diversified and paying in bitcoin and getting paid in bitcoin. You might as well move to El Salvador if you want this right now. Escape the fiat trap while you can, nobody can decree creating extra bitcoins when their budget doesn't fit, unlike fiat, always a time bomb...

Of course if you are going to hold bitcoin you need to learn how to do it properly, how to create a cold wallet (its a piece of paper with handwritten words aka seed) learn the process well. In the next worldwide economic collapse, those who held to bitcoin will emerge. Of course non fiat physical objects are viable as well, if you are not in a place with a hostile State that can decide to confiscate your belongings, like the USA in 1933 decreed all gold belonged to the State and you were ordered to sell it to them for cheap...

This is the other problem of a mining farm, it can easily be seized. Sadly i have seen it as well. Hiding a paper with 12 handwritten words is much easier, or the gazillion creative ways to steno-graph them so they are hidden in plain sight but you could also add encryption and other tricks into the mix, everyone should come with their own method, the State should not know, its them who destroy your wealth in the first place, inflation is the most tyrannical tax people can do nothing about. Less State, more freedom.

I would not be using a host. My deal in Clifton ,NJ went bad. I won’t say I was cheated. I will say I am unhappy about the handling of the end of the deal. We had from Dec 2018 to Jan 2024.

If you give your equipment to other people, then most likely you will be cheated because you will not be able to control most of the nuances of mining, such as additional energy costs for cooling, forced downtime or repair time.
Without a good engineer this business will fail. You can learn it yourself or look for a partner, but I would not give my equipment to other people or companies.

I wouldn't build my own farm. I would buy the miners and have hosted somewhere else and pay them a monthly fee. A lot faster and will be makin bitcoin in days. Let the people who already have the deals in place with the utilities deal with the headachs.

Buy 20 Goldshell AL-BOX ASICs. Your energy consumption will not exceed 3.6 Kilowatts
Model AL-BOX from Goldshell mining Blake3 algorithm with a maximum hashrate of 360Gh/s for a power consumption of 180W
https://www.asicminervalue.com/miners/goldshell/al-box
But only you will need the services of an insurance company against risks and failures in this business.

It's true that the prices of miners are now down from what they used to be as well. Aside from the cost of power, which needs to be figured out and reduced, now is indeed the best time to get in the game

no as I said 5 or 6 cent power and t21's modded for this 200k price point is better

t21 to my house for 3229 in under 2 weeks

the mods to go to 1 phase  230 volts cost . 300 a unit.

so 3529 a unit running at 190th doing 17-19 watts are killer compared to the s21pro   which would be  5300 and come 3 months later.

I save 1700 a unit and mine for 3 months ahead of time the s21 pro would take over 18 months to get close to my head start


my problem is getting 5-6 cent power from a trusted supply