is it profitable to mine in India ? | Bitcointalksearch.org

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: browoz on February 13, 2024, 11:02:22 PM

how it turned out?

I dont think the OP is available to reply anymore.

But to be very honest, getting an ROI from mining in India is tough considering the ambient temp in most states to be on the warmer site, non-cheap electricity and the cost of getting the miners from outside India.

Are you from India? If so do introduce yourself in the main section and tell us about your crypto journey if any.

browoz

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how it turned out?

pakhitheboss

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Quote from: Findingnemo on August 01, 2023, 05:01:54 AM

Quote from: pakhitheboss on July 07, 2023, 01:50:50 AM

If you can afford to spend about 3 lacs then with one Antminer L7 and Solar electric supply you can get back your investment in six month with nicehash mining. Do remember your miner should mine 24/7 in this period. I have been doing research on the solar electric and found the central government does have scheme which make it cheaper to buy and install. You can visit this website for more information: https://solarrooftop.gov.in/rooftop_calculator

Apart from the mining instrument the electricity to power up the ant miner L7 needs 20KW solar capacity to run 24/7 which will at least cost around 7.5Lakh to 12 lakh including subsidy.

I did check it with subsidy in my state for setting up solar panel the cost will be 6.6Lakh. it depends from state to state. If I am able to generate a revenue of 50k every month then I can still make some profit. The solar panel can be bought using the government EMI scheme. I checked the EMI using the calculator provided and the amount to be paid every month would be 13634 for the next 5 years wherein I still make a profit of 36k. I can deduct 10k as other expenses and still I am able to generate a passive income of 26k every month.

Findingnemo

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Quote from: pakhitheboss on July 07, 2023, 01:50:50 AM

If you can afford to spend about 3 lacs then with one Antminer L7 and Solar electric supply you can get back your investment in six month with nicehash mining. Do remember your miner should mine 24/7 in this period. I have been doing research on the solar electric and found the central government does have scheme which make it cheaper to buy and install. You can visit this website for more information: https://solarrooftop.gov.in/rooftop_calculator

Apart from the mining instrument the electricity to power up the ant miner L7 needs 20KW solar capacity to run 24/7 which will at least cost around 7.5Lakh to 12 lakh including subsidy.

pakhitheboss

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Quote from: IIrik11 on June 25, 2023, 07:17:50 AM

try this: https://www.nicehash.com/profitability-calculator

u can take a guess based on the device ur hoping to buy..

but u also have to take into consideration the electricity costs and other expenses that u might incur..

i did some research some time back and didn't find it to be profitable but i only wanted to mine btc mind u.

BTC is not profitable at all in current times, only big institution can mine it. If you can afford to spend about 3 lacs then with one Antminer L7 and Solar electric supply you can get back your investment in six month with nicehash mining. Do remember your miner should mine 24/7 in this period. I have been doing research on the solar electric and found the central government does have scheme which make it cheaper to buy and install. You can visit this website for more information: https://solarrooftop.gov.in/rooftop_calculator

IIrik11

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try this: https://www.nicehash.com/profitability-calculator

u can take a guess based on the device ur hoping to buy..

but u also have to take into consideration the electricity costs and other expenses that u might incur..

i did some research some time back and didn't find it to be profitable but i only wanted to mine btc mind u.

Westant

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Quote from: Frengki_cisco on February 02, 2022, 12:19:14 AM

Quote from: JoshuaMayo1982 on May 15, 2021, 08:12:11 AM

is it profitable to mine in India considering the high temperature and electricity costs?
what is the minimum investment required and ROI ?

I am planning to mine Dogecoin and ethereum

Depending on the mining equipment you have and the required investment capacity is adjusted, usually Doge and Ethereum have a minimum and a maximum, your big investment is your profit.

I don't think electricity is a burden in trading in India, the problem is that internet is more expensive than electricity, if you are starting out, consider your internet with income.

For internet if you buy fixed data then they will not deduct extra from you while for electricity you cannot buy fixed unlimited amount.

For mining it is beneficial to mine nowadays if you can save Ethereum for longer and can pay bill from your pocket because in the coming time bitcoin will increase much higher.

Frengki_cisco

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Quote from: JoshuaMayo1982 on May 15, 2021, 08:12:11 AM

is it profitable to mine in India considering the high temperature and electricity costs?
what is the minimum investment required and ROI ?

I am planning to mine Dogecoin and ethereum

Depending on the mining equipment you have and the required investment capacity is adjusted, usually Doge and Ethereum have a minimum and a maximum, your big investment is your profit.

I don't think electricity is a burden in trading in India, the problem is that internet is more expensive than electricity, if you are starting out, consider your internet with income.

RapTarX

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Investment depends on mining equipment. You can mine both Doge & ETH with GPU. You probably know that GPUs are of very high price these days and so does the other mining hardware. You can import an ASIC miner for scrypt algorithm as Doge is scrypt algorithm crypto.
And regarding the profitability, it is certainly profitable these days as the price of the crypto is so high now. However, the difficulty has also increased.

To check the profitability, you can try with some online calculator by putting your device model- https://www.nicehash.com/profitability-calculator

JoshuaMayo1982

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is it profitable to mine in India considering the high temperature and electricity costs?
what is the minimum investment required and ROI ?

I am planning to mine Dogecoin and ethereum

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