mining solar system and batteries | Bitcointalksearch.org

owen_a

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Quote from: mindrust on December 01, 2024, 08:39:48 AM

Quote from: owen_a on December 01, 2024, 06:32:56 AM

Quote from: potatotom on November 30, 2024, 09:39:03 PM

Quote from: owen_a on November 30, 2024, 02:23:00 PM

You could solo mine to help with decentralization. The Avalon Nano 3's pack a punch (4Th/s) and use about 125Watts. You could buy a few of these and have them solo mine on your generated power whilst still exporting to the grid. That way you have a possibility of finding a block which is worth a fair bit, whilst also earning from your export. It's a win win IMHO.

Not sure solo mining with this setup would be beneficial... even at 20TH you would have 683 years between blocks, according to solochance.org

A lot of people are buying small miners now just for this. It's of course a lottery. There was a single BitAxe that found a block back in July with only 500Gh/s.

https://cointelegraph.com/news/tiny-500gh-home-bitcoin-mining-device-produced-a-block-earning-over-200k-btc

Interesting. They could have bought a real lottery ticket instead. Why waste time and resources on mining if all they want is a lottery ticket? Playing in a casino is a better idea too. It is hassle free and still luck based.

Again, the shovel sellers are making the real money here while the adventurers dream on getting rich but we are all gamblers in the end. Some of us are just smarter and know math better than the rest.

Some people just want to run something to potentially hit the jackpot. It helps with decentralisation too instead of letting the large pools have the monopoly over the network.

You'll spend more buying lottery tickets than you will buying a miner like a BitAxe or the Avalon Nano 3. Plus the odds are way better mining solo. For instance, the odds of winning the lottery here in the UK is about 1 in 15-30 million depending on which lottery you play. Mining with 6.5Th/s is about 1 in 756k daily.

mindrust

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Activity: 3276

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Quote from: owen_a on December 01, 2024, 06:32:56 AM

Quote from: potatotom on November 30, 2024, 09:39:03 PM

Quote from: owen_a on November 30, 2024, 02:23:00 PM

You could solo mine to help with decentralization. The Avalon Nano 3's pack a punch (4Th/s) and use about 125Watts. You could buy a few of these and have them solo mine on your generated power whilst still exporting to the grid. That way you have a possibility of finding a block which is worth a fair bit, whilst also earning from your export. It's a win win IMHO.

Not sure solo mining with this setup would be beneficial... even at 20TH you would have 683 years between blocks, according to solochance.org

A lot of people are buying small miners now just for this. It's of course a lottery. There was a single BitAxe that found a block back in July with only 500Gh/s.

https://cointelegraph.com/news/tiny-500gh-home-bitcoin-mining-device-produced-a-block-earning-over-200k-btc

Interesting. They could have bought a real lottery ticket instead. Why waste time and resources on mining if all they want is a lottery ticket? Playing in a casino is a better idea too. It is hassle free and still luck based.

Again, the shovel sellers are making the real money here while the adventurers dream on getting rich but we are all gamblers in the end. Some of us are just smarter and know math better than the rest.

owen_a

newbie

Activity: 24

Merit: 1

Quote from: potatotom on November 30, 2024, 09:39:03 PM

Quote from: owen_a on November 30, 2024, 02:23:00 PM

You could solo mine to help with decentralization. The Avalon Nano 3's pack a punch (4Th/s) and use about 125Watts. You could buy a few of these and have them solo mine on your generated power whilst still exporting to the grid. That way you have a possibility of finding a block which is worth a fair bit, whilst also earning from your export. It's a win win IMHO.

Not sure solo mining with this setup would be beneficial... even at 20TH you would have 683 years between blocks, according to solochance.org

A lot of people are buying small miners now just for this. It's of course a lottery. There was a single BitAxe that found a block back in July with only 500Gh/s.

https://cointelegraph.com/news/tiny-500gh-home-bitcoin-mining-device-produced-a-block-earning-over-200k-btc

potatotom

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Activity: 8

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Quote from: owen_a on November 30, 2024, 02:23:00 PM

You could solo mine to help with decentralization. The Avalon Nano 3's pack a punch (4Th/s) and use about 125Watts. You could buy a few of these and have them solo mine on your generated power whilst still exporting to the grid. That way you have a possibility of finding a block which is worth a fair bit, whilst also earning from your export. It's a win win IMHO.

Not sure solo mining with this setup would be beneficial... even at 20TH you would have 683 years between blocks, according to solochance.org

owen_a

newbie

Activity: 24

Merit: 1

You could solo mine to help with decentralization. The Avalon Nano 3's pack a punch (4Th/s) and use about 125Watts. You could buy a few of these and have them solo mine on your generated power whilst still exporting to the grid. That way you have a possibility of finding a block which is worth a fair bit, whilst also earning from your export. It's a win win IMHO.

potatotom

newbie

Activity: 8

Merit: 0

I was thinking this thread is about mining in the Solar System, so I thought this is about having a blockchain on Mars etc... Wink

Great discussion though! Many users are mining and using excess heat for heating purposes, then the whole calculation changes a bit ...

Kryss191

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Sure, you can run ASIC machines, but Bitcoin mining depends on fluctuating prices and network difficulty, so it’s risky. Even with free electricity, the machines need maintenance and can get outdated.

It could work if you’re cool with some risk and long-term investment, but if you want something steadier, selling extra power to the grid might be a safer bet.

BitcSeo

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Quote from: mindrust on July 21, 2024, 12:18:33 PM

Quote from: lobs69 on July 21, 2024, 11:31:47 AM

thank you for your clear answer, i got it right from all the posts that it is too late for mining

by the way all solar systems were free by the state incentives and produce money for 20years 5-10x your investment (investment repaid by 4-5 years) plus selling electricity for as long as it works.
you are actually right maybe adding more panels for the other inverter to sell electricity makes more money than mining here in europe

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

10kwh solar batteries

Your bottleneck is the batteries.

https://m.bitmain.com/product/detail?pid=00020240718151523125gE0aB5Es065D

An average Antminer will be consuming ~5.4kwh and your batteries have 10kwh capacity.

It will be gone in 2 hours if you run just one miner and then you'll need to pump more than 5kwh every hour to that system so the miner can continue to work. You might add more solar panels to succeed that but the battery will go bad because it can get recharged only a few thousand times. If it is a LFP battery it can be recharged more than 10k times but mind that, you will be fully recharging the batter every 2 hours so 1 cycle will be gone every 2 hours. 12 cycles a day, ~4.5k cycles a year... The battery will die in less than 2 years. If it is a lithium ion battery pack it won't take a year before it dies.

Miners are power hungry and batteries don't have the capacity and lifetime to feed them properly. Mining on solar is a bad investment.

".......Mining on solar is a bad investment......"

Mining on solar energy is not a bad investment. I have never mine with electricity nor solar energy but, i know that if, this folk set up his panel properly, get a good storage battery that is capable of supply energy to a full or quarter zone.

He will surely make profit from his investment.
In solar energy, we have batteries and we have battery. Unfortunately, choosing the right battery is one the most challenging task.

Lithium batteries takes a longer time to recharge during winter. The normal piombo car batteries work well during winter but,you can easily lose energy that has been accumulated in this type of batteries.

Regards
Chucks

bitebits

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Cool idea man, like, im not sure about the returns you’ll get but the plan to use solar power for your own personal mining sounds good. If you’re planning to do so keep us posted, good luck!

owen_a

newbie

Activity: 24

Merit: 1

If you wanted to mine for fun and solo mine as a gamble, your best bet is to find something that uses very little power. I have a few BitAxe's that use 15W each that run fine on a much smaller system than yours (currently 1.4kW solar / 2.4kWh battery storage).

But like others have said, miners nowadays that pump out 50Th/s+ use a hell of a lot of power (2kW-3kW+) and you won't make more profit than selling back to the grid. There's a few bitcoin mining calculators online that will give you a rough idea on profit/loss.

mikeywith

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be constructive or S.T.F.U

Quote from: Outhue on October 06, 2024, 02:29:27 PM

Asic miners are too power hungry, bad for solar batteries

They are just "batteries", but anyway, batteries are best used for backup and not your average intended use, most batteries have about 1500-3000 cycles at 50% depth of discharge, and then at >50% it just gets worse (it is not linear)

So if you discharge a very good battery 50% everyday, you would expect 8-10 years, in practice, it is a lot less, because those figures are based on perfect condtions like a constant environment temperature of 20c which only exists in a specialised laboratory.

So ya, batteries are expensive and are not intended for massive usage, usually, when you do cycle cost, you will find it is a lot cheaper to buy on grid power.

Outhue

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I've tried it and it doesn't favour me.

I ended up killing my battery backup very fast and I was just lucky to solve some solo blocks on other coins and convert them back to BTC, now I've changed the batteries because they can't even keep up anymore.

The only miners I can run on battery backups now are small USB miners and BTC solo miners that takes between 30watts to 100watts max, better sell electricity back to the grid like you've been advised and find other ways to start buying Bitcoin.

Asic miners are too power hungry, bad for solar batteries, you can look into ETC miners if you still insists, then convert the coins back to BTC, there are ETC miners that use 500-600watts and they are profitable, DYOR.

lobs69

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Quote from: FatFork on July 21, 2024, 12:58:42 PM

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

does it make sense to mine bitcoin with all this free electricity in 2024 and on?
buying expensive asics machines is not a problem but is it a safe investment?
by reading your posts i get the idea that mining is just a gamble, is it so?

Your best bet is to sell electricity and buy bitcoin with the money you earn. Yes, you are still gambling on the price of BTC increasing, but you have much better odds compared to mining.

definitely better odds, thank you all for your help

FatFork

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Quote from: lobs69 on July 21, 2024, 10:59:22 AM

does it make sense to mine bitcoin with all this free electricity in 2024 and on?
buying expensive asics machines is not a problem but is it a safe investment?
by reading your posts i get the idea that mining is just a gamble, is it so?

Your best bet is to sell electricity and buy bitcoin with the money you earn. Yes, you are still gambling on the price of BTC increasing, but you have much better odds compared to mining.

mindrust

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Quote from: lobs69 on July 21, 2024, 11:31:47 AM

thank you for your clear answer, i got it right from all the posts that it is too late for mining

by the way all solar systems were free by the state incentives and produce money for 20years 5-10x your investment (investment repaid by 4-5 years) plus selling electricity for as long as it works.
you are actually right maybe adding more panels for the other inverter to sell electricity makes more money than mining here in europe

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

10kwh solar batteries

Your bottleneck is the batteries.

https://m.bitmain.com/product/detail?pid=00020240718151523125gE0aB5Es065D

An average Antminer will be consuming ~5.4kwh and your batteries have 10kwh capacity.

It will be gone in 2 hours if you run just one miner and then you'll need to pump more than 5kwh every hour to that system so the miner can continue to work. You might add more solar panels to succeed that but the battery will go bad because it can get recharged only a few thousand times. If it is a LFP battery it can be recharged more than 10k times but mind that, you will be fully recharging the batter every 2 hours so 1 cycle will be gone every 2 hours. 12 cycles a day, ~4.5k cycles a year... The battery will die in less than 2 years. If it is a lithium ion battery pack it won't take a year before it dies.

Miners are power hungry and batteries don't have the capacity and lifetime to feed them properly. Mining on solar is a bad investment.

stompix

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Quote from: lobs69 on July 21, 2024, 10:59:22 AM

by reading your posts i get the idea that mining is just a gamble, is it so?

Mining is a business, it does get influenced by factors you can't predict and risks that would look akin to gambling but it's the same for all businesses, a profitable coffee shop could go bankrupt just with the city redesigning the roads and crossing there.

Now the math:

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

Hi, i have a solar system 16.9kwp paid by incentives and i only get 1500 euros per year selling electricity plus more by incentives on production, so i might put selling electricity to something else (i get 3kw even on winter cloudy days here and about 90-100kw of production during summer, lot of sun and good weather).

You get on average 5 euros a day and let's say 50 kwh production, it means you get aid back something at 10cents/kwh?
If that's accurate then I don't see any reason to mine, one of the newest gear will burn 84kwh a day, so 8.4 euros and gain $11.35 and no, you don't have the capacity to make it run all day long every day, so... really no point in the numbers are accurate.

lobs69

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thank you for your clear answer, i got it right from all the posts that it is too late for mining

by the way all solar systems were free by the state incentives and produce money for 20years 5-10x your investment (investment repaid by 4-5 years) plus selling electricity for as long as it works.
you are actually right maybe adding more panels for the other inverter to sell electricity makes more money than mining here in europe

mindrust

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Merit: 2442

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

Hi, i have a solar system 16.9kwp paid by incentives and i only get 1500 euros per year selling electricity plus more by incentives on production, so i might put selling electricity to something else (i get 3kw even on winter cloudy days here and about 90-100kw of production during summer, lot of sun and good weather).

i have also bought a 6kw hybrid inverter and 10kwh solar batteries 1year ago to run another system if grid ever goes down but i actually dont need it at all so i have it stored in the garage wasted.....so i was thinking to buy few more panels and put this second solar system to generate more money and here is the question:

It has been discussed many times before. Batteries are not suitable for this task.

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

does it make sense to mine bitcoin with all this free electricity in 2024 and on?

no

First of all that's not free elecrticity. You paid upfront. That's not free.

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

buying expensive machines is not a problem but is it a safe investment?

no

You will most likely end up in a loss.

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

by reading your posts i get the idea that mining is just a gamble, is it so?

yes

New hardware gets added to the network every day. You are making profits today maybe but unless bitcoin's price keeps climbing every day, or you add more machines, or other people stop adding new machines to their farms; your profitability will be gone before you get your ROI.

Quote from: lobs69 on July 21, 2024, 10:59:22 AM

thank you

Yw

Just keep selling electricity and be happy with that. Less headaches, more profits. Mining is a loser's game.

lobs69

newbie

Activity: 3

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Hi, i have a solar system 16.9kwp paid by incentives and i only get 1500 euros per year selling electricity plus more by incentives on production, so i might put selling electricity to something else (i get 3kw even on winter cloudy days here and about 90-100kw of production during summer, lot of sun and good weather).

i have also bought a 6kw hybrid inverter and 10kwh solar batteries 1year ago to run another system if grid ever goes down but i actually dont need it at all so i have it stored in the garage wasted.....so i was thinking to buy few more panels and put this second solar system to generate more money and here is the question:

does it make sense to mine bitcoin with all this free electricity in 2024 and on?
buying expensive asics machines is not a problem but is it a safe investment?
by reading your posts i get the idea that mining is just a gamble, is it so?

thank you

Topic: mining solar system and batteries (Read 377 times)