Topic: Mining with Free Electricity (Read 608 times)

All of that makes it a bit hard to make a decision. Since this is "free electricity" I think I agree with you "Combo" would be better.


Waiting also isn't good enough to do on OP's condition.
But I might be waiting for AMD's 7nm. 

This begs an interesting question, actually.
Which hardware (or hardware combo) would get you most bang for the buck, all efficiency considerations aside.
i.e. you want most possible hash per dollar, in the most profitable algo.

ASICs might not be the answer here, looking at the crappy returns one gets from Scrypt or SHA-256 devices currently. Some Equihash ASICs are promising but probably short-lived and expensive.

Current GPUs make very little per day too.

Betcha we're all be turning our heads towards 2070's... Maybe 2080's.

Personally I can't wait for AMD's 7nm (or rather, I have high hopes - which isn't usually healthy).

well, whatever device you will use, you only need to wait for ROI.

• Select ASIcs if you don't want to be complicated in the settings.
• Choose a Mining Rig if you want to have long-term mining but it's a little tricky when building.
  

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for me there is a plus value when choosing a Mining rig because I can learn the type of coin algorithm, learning to install the Mining Rig also predicts which coins are good in the future.

I guess his the boss or neighbor will pay for it 

There are plenty of options with free electricity. You might want to make a small research here.

BUT If your electricity is free for a limited time, you might still want to consider your costs for the future - by choosing the right mining algorythm, a stable rig, etc. Otherwise, whatever you mine for free you might loose when you have to pay the costs.

If you have never been mining, it is easier to buy a plug-n-mine rig, not build your own.

Also, what amount are you planning to invest, that will also help while choosing the rig options.

The other thing, there still is someone who is paying your electricity bills...

Damn, mining with free electricity, now that's the move. Hopefully it stays that way.

you're a lucky man,
You don't have any problems that every miner has feared, any device that you use ASIC or GPU it will faster for ROI. I recommend using the Mining Rig rather than ASIC.

I'm not trying to sell anything on this forum.  Just looking for some helpful advice from more experienced people on here.

That's a good resources you have but with no proofs and no transaction you have here in this forum no would believe you how you can access with it. Put some legitimacy of the site where you conduct that free electricity.

How cynical 


Thanks for all the opinions. 

Selling back to the grid isn't an option.  The owner is also looking to invest in mining with an eye on the future.  This isn't located in America either, so the Feed-in Tarriff isn't as high as selling back to the Electricity company at $.012.

In the meantime the idea is to maximise the returns from the hydro.  The z9's are definitely up there for ROI but longevity is a concern.  I'd be able to put a hell of a lot more z9's in the L3's which would definitely generate more income in the short term.

Sell back electricity to the person who gave it to you for free!

This is actually an awesome idea in theory. Not sure how and why power companies would allow it though, because even with solar net metering setups, the power companies are thorough and inspect the power feeds because obviously it could affect them negatively as well.

But most likely the OP doesn't really have free electricity and sooner or later it will bite him back in the butt.

One other option.   Get some big electric extension cords / net metering and sell that 20 kw back to the grid

20kw at 12 cents per kWh is about 21,000$ a year. You won’t get that though depending on local laws you might on net metering plans

25 x l3+ antminers in free electricity of 20 kw earns about $15k right now less cost of 25 antminers ($3k used on eBay) So net $12k year one

You are better off selling the electricity to neighbors if you can back feed it some how like solar net metered services include

If you go crazy and put out in some bigger miners that cost way more up front and longer roi maybe you can out pace that for profit of just selling the the electricity

For example 60 x z9mini is about 20 kw.  That’s about $50k up front shipped.  And daily profit dropping fast I’d expect an average around 3$ a day over 12 months best case. That puts at about $1k income per miner   I know today th looks great at 10$ to 15$ daily. It’s dropping fast and avg 12 Month income
daily could be under $1 due to difficulty in a few months.  It’s a gamble you roi at all even with free electricity based on past antminer releases the last 12 months - and you have to spend a lot to find out versus that used eBay l3 antminers  I suggested is guaranteed slow grind profit. Even if litecoin dificulty grows you will roi that hardware when bought used

if cost of the mining equipment is a major concern, go with your comments below about Asic Antminer L3+ - about $130 each on Ebay.  Don't buy them new, just buy in mass used.  They are not hugely profitable unless power cost is low (and if free, its a big win and ROI would be super fast at those costs per antminer).  For 20 KW you could place about 25 of these, each generates about $600/year right now of litecoin (but if market goes up....).   Thats a 350% plus ROI on the cost of equipment in 1 year, or break even in 3 months.  Doesn't get much better.

More expensive miners (like the Z9 and Z9 minis) look great on paper, but due to people jumping in on it (and its really new) it will have a negative ROI just like the rest of the antminers at some point within the next 6 to 12 months.  And the cost to get those new in demand ASIC (or GPU) would be top dollar, that is hard to earn back .  Buy used on EBAY (or your equivalent) and you can make easy money guaranteed with ROI versus everyone else who has to buy the latest and newest high priced gear to grind out a fast return.  With your free power you are guaranteed a win.

Good luck - tell us how it goes.

You have a lot of thinking to do 

If you choose GPU mining I think almost 1 year before you can break your ROI but it depends on the price of GPU.
For other option, if you are looking for fast and high profit go for ASIC like the other said this is now more profitable than GPU mining.  You can check real-time mining profitability for ASIC from here https://www.asicminervalue.com/

Its never free electricity. Someone is always paying somewhere. And as is the case with crypto mining the sheer amount of power that gets consumed always means that the miner will have to pay some kind of charge (more or less) for the amount of 'free' energy they used to get money.

Regardless of how you (or someone else) pay back for the free electricity, the real challenge is figuring out the best efficiency per miner that you can achieve. As not every miner would be efficient at full throttle and how much money you have that you can invest in mining gear and accessories.

The same amount of investment for Dash mining gear would give you XX amounts of money while the same investment in GPU mining with new cryptos may give you 3XX amount of money.
You really need to sit down with someone experienced from the forum and discuss all your options or hire someone else to do the thinking for you.

Very lucky and only a few people do really have that kind of opportunity and that kind of place would really be a heaven specially when you are a miner. Difficulty wont really bother you but the thing will only concerns you is on how long those miners would bust up but well when we do talk on the generated income then you can reach ROI fast. Good chance on getting that chance to get some free source of energy through hydropower.
Consuming that 20KW wont really be that necessary depending on how much miners you do have.

Whatever mining rigs you have its profitable if electricity is free ,you are lucky. You can even use some older GPUs like hd7990 ,6990 etc

As long as you have free electricity if you have an opportunity to buy the heaviest ASICS miners in term of performance and power consumption, get them, they will give you some really nice daily profits. If you can't afford these miners, still any miner you can afford will give you some profit but those with the greatest performing hash rate will be the best option to use in a scenario with free electricity.

why you ask for best system.

any system is good because you have free elect that can easy to make profit more than anyone

Glad to hear that. 

You were right, everything can't just operate, without making sure everything works well. In my place, it is not possible for alternative energy other than solar panels. You were lucky enough. Good luck, bud!

The electricity is by completely legitimate means of course.  It's a renewable energy system using hydro power.  The system is only really beginning it's full use now, with the 20kW as my incentive for running a few separate similar facilities.

The z9 minis are making roughly $10/11 each per day running at the standard base level.  Looking into over clocking them at the minute but I wanted to make sure the facility was functioning properly first before going mental with expanding the mining operation!

That's good for your health. 
You can rest all night without worrying about coins price, electricity bill, etc. lol.

How can you get it? (free electricity - just curious about it) - Don't worry, your secret safe with me! 

How long have you done mining with this free electricity? How about your profit so far? (with current machines that you have)

Cheers for that.  I've a few z9s sitting there but I was considering some of the cheaper, but more power hungry L3+++ etc to see what stacked up.  If it's free then it's all about maximising the 20kW.

With free electricity, whichever mining tools you are using, you are on the green zone!

Newest ASICs miner (whichever algorithm) will be the best choice for your condition related to maximizing your profit.

If I were you, I'd do solo mining all the time with my GPU rigs. 

I have the opportunity to mine with 20Kw of free electricity.  Does anyone have any opinions on what the best system to use would be to maximise profits?

Thanks for your help.