Im from Portugal, and im very new to this eco system.
I started investigating Bitcoin Mining a few weeks ago, and i think i need some help
As far i can see, the only (best) way of having some view able return is with an "antminer/avalon etc", computer eco system investment/hash needed to break the difficulty level, has low return of btc´s.
Anyway, we have to see all the picture, because as far i can see, this is a btc decimal win/lose.
And please correct me if im wrong.
I was making the calculations using two antminers, the S5 and the S7.
And now without thinking in PSU´s and all the hardware investment, like cooling and UPS, ethernet backup etc.
In Portugal and now speaking in USD not in EUR. An Antminer would consume 590W in 24h = 14160W. Will consume in 30 Days 424.800W Dividing by 1000 = 424.8kWh
Now our kWh (Killo Watt Hour) is priced as:0.111441 USD
So, 0111441US x 424.80kW=47.340USD
The Antminer S5 will Produce 1155GH/s that in this moment/difficulty will give around 0.10813907 BTC/47USD month beeing 24H a day Connected.
So.. profit on this is NULL.
Now the Antminer S7.
It uses 1210Watts H to produce 4.86TH/s
Monthly (30days)is 871.200Watts
Going back to my calculations, 871.200Watts / 1000 = 871.2kW so 0.111441 USD X 871.2kW = 97USD.
Now at this calculation moment S7 should produce monthly 0.45502674 BTC /$201.71
Projected Profit 201.71USD minus 97USD electricity should expect to give me back something like 104.71USD.
Its my impression or this business is beeing taken by big companies? because the expected profit annual, is 1256.52USD (wihout counting with POOL % and coin fluctuation etc. So even in a year you will not pay the investment and will be harder and win less every time.
Im not here to say "this is a bad business" because in a corporate way yes.. its close to a Gold mine, and the equipment will have its value of sale after 1 2 years (if it get there).
But in a personal way. im seeing this in a bad way?, or since im new to this im getting the wrong picture?
or is there other profitable way of getting a cut from the business?.Thanks for your support and don´t take me wrong, im just trying to understand the "business".