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Topic: If you have $200,000，but no miners, no mining experience，and no cheap electricit - page 2. (Read 511 times)

Yamane_Keto
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Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 28, 2024, 11:57:34 AM
#11
Quote from: philipma1957 on April 27, 2024, 12:29:05 PM
this is a great time to build a mine.  but and this is the big but five or six cent power is a must.

the s21 the modded t21 i did on my thread and ths L7 are very very very very good to make a mine with but you need five or six cent power.
I will choose to wait a little to see what Canaan and MicroBT will offer, as the latest version of the S21 Pro with the energy efficiency of 15J/TH, 234Th/s and a price of ~$5,500 means that the possibility of mining at a loss will be less, if Canaan and MicroBT provide better models. I will buy them, otherwise the S21 Pro is an ideal choice.
NeuroticFish
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Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 28, 2024, 11:38:02 AM
#10
Quote from: philipma1957 on April 27, 2024, 12:29:05 PM
this is a great time to build a mine.

This is a surprise for me. I value a lot your experience, plus.. did you also take into account the fact OP said he's inexperienced?
Extending a mine, possibly. Investing something in power generation? Yes. But new mine... hmmm..., I felt like it's late in the current cycle. But well, you do know better.


Quote from: philipma1957 on April 27, 2024, 12:29:05 PM
If you gave me the choice of 200k in btc or a proper mine with five cent power.

I would want the mine.

I don't doubt that. You have the experience and... the virus to say so Smiley
philipma1957
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Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 27, 2024, 04:49:23 PM
#9
Quote from: goldkingcoiner on April 27, 2024, 12:56:09 PM
Quote from: shanhaigamefi on April 25, 2024, 03:15:11 AM
how would you build your mining farm?

I would only build a mining farm where it is worth mining. If the electricity is not cheap enough for a profit, then what is the point?

yeah 2 year commitment for 5-6 cent power works.

other than those numbers don’t bother.
goldkingcoiner
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Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 27, 2024, 12:56:09 PM
#8
Quote from: shanhaigamefi on April 25, 2024, 03:15:11 AM
how would you build your mining farm?

I would only build a mining farm where it is worth mining. If the electricity is not cheap enough for a profit, then what is the point?
philipma1957
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Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 27, 2024, 12:29:05 PM
#7
Quote from: NeuroticFish on April 27, 2024, 12:13:19 PM
Quote from: shanhaigamefi on April 25, 2024, 03:15:11 AM
how would you build your mining farm?

Nope. I would just buy some Bitcoins and watch them grow.

Mining is a business. One with ups and downs. Just think: with ever rising difficulty, reward halving just a couple of days ago... it doesn't look like a good moment to enter (it could have been 1 year ago). Plus, until you gather a bit of experience... the next crypto winter may come.. you know, the moments the miners take a very close look whether they should continue or stop.

Imho nowadays the proper way to enter this business is to also have you own production of electricity (probably solar). And I fear you may need more than 200k to get something proper. But my experience is limited and I may be wrong, look for other answers too (plus as @Yamane_Keto said, there are very good answers in the other topics, you may want to read those first).

this is a great time to build a mine.  but and this is the big but five or six cent power is a must.

the s21 the modded t21 i did on my thread and ths L7 are very very very very good to make a mine with but you need five or six cent power.


If you gave me the choice of 200k in btc or a proper mine with five cent power.

I would want the mine.

I could do 30 t21s which is about 120k and 10 L7 units which is about 50k

and infrastructure setup which is 30k

200k would score good money doing this.

better than buying the coins.


but finding a real 5 cent power deal is hard to do.
NeuroticFish
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Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 27, 2024, 12:13:19 PM
#6
Quote from: shanhaigamefi on April 25, 2024, 03:15:11 AM
how would you build your mining farm?

Nope. I would just buy some Bitcoins and watch them grow.

Mining is a business. One with ups and downs. Just think: with ever rising difficulty, reward halving just a couple of days ago... it doesn't look like a good moment to enter (it could have been 1 year ago). Plus, until you gather a bit of experience... the next crypto winter may come.. you know, the moments the miners take a very close look whether they should continue or stop.

Imho nowadays the proper way to enter this business is to also have you own production of electricity (probably solar). And I fear you may need more than 200k to get something proper. But my experience is limited and I may be wrong, look for other answers too (plus as @Yamane_Keto said, there are very good answers in the other topics, you may want to read those first).
TheUltraElite
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So anyway, I applied as a merit source :)
Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 27, 2024, 04:53:30 AM
#5
That amounts to a little more than 3 BTC at current market price of 63K USD and I would rather hold that bitcoin and invest in some casinos bankrolls to allow the money to grow. Mining itself need a set of miners, cheap electricity, maintainance and other costs. If you dont have access to such cheap ingredients, then the recipe will not work out or give the best "taste" Grin

Hence dont mine, rather buy bitcoin when it becomes cheap again.
stompix
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Blackjack.fun
Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 25, 2024, 04:10:29 PM
#4
Simple, you don't.
Just like trying to grow bananas in Nanavut, mining with expensive electricity means losing time and money.
philipma1957
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Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 25, 2024, 07:40:35 AM
#3
Quote from: shanhaigamefi on April 25, 2024, 03:15:11 AM
how would you build your mining farm?

I would find cheap power. Before I did anything else. With out cheap power you lose.
Yamane_Keto
hero member
Activity: 406
Merit: 443
Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 25, 2024, 07:32:45 AM
#2
There is already an active thread https://bitcointalksearch.org/topic/my-first-mining-project-mini-farm-5263722 and https://bitcointalksearch.org/topic/how-to-spend-a-100k-right-on-btc-mining-farm-5492293
It is best to lock this topic unless you want to talk about something specific.
The electricity factor is crucial because if its cost is high, you may fail to recover your capital.
shanhaigamefi
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Re: If you have $200,000，but no miners, no mining experience，and no cheap electricit
April 25, 2024, 03:15:11 AM
#1
how would you build your mining farm?
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