Mining bitcoin, how much should I use on hardware?

reflector

sr. member

Activity: 826

Merit: 263

Quote from: cryptosbatman on November 24, 2017, 10:33:57 AM

Hi, I have been interested in starting with mining for a long time. But I know that it's not profitable in short-term, but I'm thinking long-term. How much do you recommend me to use to buy a decent mining machine/hardware?

Thanks in advance!

In mining there is no long term or short term and all. If you run your mining rig you will be able to make the money or if you simply shut the mining process stopped you will not be able to make the money that it. There is no big information has been shared to say how it handle it and all.
If you want to make money you should go with ASIC miners which is giving high amount hash power to perform the mining operation and it will mine the more blocks. You start mining with the GPU as well but the profit level will be lesser than you can expect on ASIC miners.

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

Avalon and especially Ebit have had problems relating to shipping and order processing lately. Antminers aren't generally that reliable and repairs on them are expensive, but I'd still take a look at those two brands of miners if I were you. Electrical costs seem a little high but as long as you keep the miners cool by having good airflow into the room you are keeping the miners in and are okay with the sound the miners make (about equivalent to a vacuum cleaner) you're good.

Too many people buy industrial miners thinking they're quiet but they really aren't. In my experience even keeping these in the basement isn't going to be 100% quiet as they make some higher pitched noise.

cryptosbatman

newbie

Activity: 35

Merit: 0

Thanks for the reply.

1. Electricity costs is 0.12/Kwh including all fees.
2. Budget is around 3 000 USD maximum
3. Electrical space is not a problem, but physical is. I have enough space similar to two gaming computers.

I will take a look at the examples of mining hardware.

Steamtyme

legendary

Activity: 1568

Merit: 2037

To give you any info, you need to provide more details.
This question gets asked a lot bit here are the basic things to consider.
1) what are your electricity costs? This determined if you can be a home miner, medium to large scale miner or if you need to use a hosting facility.
2) what is your budget, only you know what you can spend?
3) how much space do you have to mine in? Both electrically and physical space to put the gear.

Short answer there is Avalon 741, bitmain s9, and ebit 9 series.
There is also a Pangolin miner that a review was recently done on if you look through the hardware threads.
I would say spend what you can afford ad a long-term investment, on wholesale prices equipment.

cryptosbatman

newbie

Activity: 35

Merit: 0

Hi, I have been interested in starting with mining for a long time. But I know that it's not profitable in short-term, but I'm thinking long-term. How much do you recommend me to use to buy a decent mining machine/hardware?

Thanks in advance!

Topic: Mining bitcoin, how much should I use on hardware? (Read 321 times)