Using your solar setup for Bitcoin mining could be a smart move, especially with your free energy. With a stable output of 3 kW in winter and up to 100 kW in summer, you’ve got a solid foundation for mining. Investing in efficient ASIC miners can improve your ROI, though Bitcoin's price fluctuations are always a factor to consider. Since energy is your main expense in mining, your setup minimizes this risk.
If you'd rather not manage the equipment directly, cloud mining could be an option, letting you buy contracts and earn from mining without handling hardware. Just make sure to pick a reputable provider if you go this route.
Topic: mining solar system and batteries (Read 217 times)
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.
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.
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.
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.
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.
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?
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.
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?
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.
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
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
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.
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:
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.
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
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
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:
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.
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.
buying expensive machines is not a problem but is it a safe investment?
no
You will most likely end up in a loss.
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.
thank you
Yw
Just keep selling electricity and be happy with that. Less headaches, more profits. Mining is a loser's game.
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
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
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