Its very difficult to make money mining these days UNLESS,
You have millions of dollars of capital and are willing to buy thousands of miners at great discounts directly from the manufacteurs.
You have good contacts at the power company to get almost free electricity
You have good contacts with other farms and can get old gear at next to nothing
You have a Delorean Time Machine and travel back to the year 2009.
Topic: need help. planning to have $40,000 worth of investment to start Farm (Read 1165 times)
November 28, 2015, 02:05:55 PM
November 28, 2015, 01:26:56 PM
Believe it or not $40,000 will not get you far starting a farm. You need first/last/deposit, racks, PDUs, PSUs, cords and cables, electrical upgrades, cooling upgrades, insurance, internet, security, ect. Don't forget that all this takes time so you'll throw away a month or two just setting up and waiting for your first set of get to arrive and be installed.
You will only be left with about $20,000 out of that $40,000 to actually spend on gear. Do you think you can make back a $40K investment with 15 S7 units? In about 1 month that's only going to pull you about $100 a day, or $3,000 a month, before monthly expenses. Then you have to pay rent, insurance, internet, security, and electricity every month before you can look at any profit. You could easily loose money every month instead.
I would buy the coins and learn how to trade from home. Keep your job and up your hours. Finally, re-invest your income from your job and trading successes, live frugal, and don't spend a single thing until you've at least doubled your investment. Good luck with your investment.
You will only be left with about $20,000 out of that $40,000 to actually spend on gear. Do you think you can make back a $40K investment with 15 S7 units? In about 1 month that's only going to pull you about $100 a day, or $3,000 a month, before monthly expenses. Then you have to pay rent, insurance, internet, security, and electricity every month before you can look at any profit. You could easily loose money every month instead.
I would buy the coins and learn how to trade from home. Keep your job and up your hours. Finally, re-invest your income from your job and trading successes, live frugal, and don't spend a single thing until you've at least doubled your investment. Good luck with your investment.
November 20, 2015, 03:31:34 PM
This is good advice. Also you could buy BTC122.00~ and sit on those as mined coins, Today. Building your own facility will be a money loser if you are just mining at that scale for yourself.
The current market sentiment makes this the perfect investment.
If bitcoin goes to 420 again. Your net profit will be 12.200 USD.
Think about it.
November 20, 2015, 02:39:43 PM
If I was given 40,000 I probably wouldn't invest too much into mining. Personally, I find the mining sector to be too unpredictable for my liking. Unless you are confident that you will profit or at least break even break even, then I would just buy Bitcoin. At the current price, you would be able to purchase well over 100 BTC and even have some extra to put towards mining.
This is a great advice in my opinion! OP keep in mind that there is halving coming and this unpredictable field that mining is wil become even more unpredictable.
On the other side, we all expect that because of this halving, Bitcoin price will almost certainly grow. So on the $40,000 investment, you can get a very nice ROI if this comes true!
November 20, 2015, 02:30:20 AM
wsry but without your maintanance ost, especially electricity we cannot suggest anything without doing an error
but unless you have below 0.05 or around 0.05-0.10 s5 is still better vs the s7, because it cost 1/6 of while delivering a 1/4 earning
but unless you have below 0.05 or around 0.05-0.10 s5 is still better vs the s7, because it cost 1/6 of while delivering a 1/4 earning
November 19, 2015, 12:56:44 PM
While I agree with the commentary on the cheap power, I don't agree with waiting a couple of months to see since that is a never ending game in this space...
The point being there isn't any real advice to be given because the environment you are setting up the operation in will determine if it is profitable or not, in the US for example there are a select few areas where starting now one could be in the black with such a small investment unless the right set of decisions were made..
Ok now to the easy recommendation, pick a low cost hosting provider (Great North, HashPlex, Toom.in) and deploy your systems there, personally I would recommend Bitmain right now, but $40K isn't a large enough of an order size to get any discount from them, it's almost an order of magnitude too low.. Take a look at the all in cost of Avalon or Bitmain, include sourcing good PSUs (self promotion, I sell hundreds for large and small operations) and hosting, and pick a path..
The point being there isn't any real advice to be given because the environment you are setting up the operation in will determine if it is profitable or not, in the US for example there are a select few areas where starting now one could be in the black with such a small investment unless the right set of decisions were made..
Ok now to the easy recommendation, pick a low cost hosting provider (Great North, HashPlex, Toom.in) and deploy your systems there, personally I would recommend Bitmain right now, but $40K isn't a large enough of an order size to get any discount from them, it's almost an order of magnitude too low.. Take a look at the all in cost of Avalon or Bitmain, include sourcing good PSUs (self promotion, I sell hundreds for large and small operations) and hosting, and pick a path..
This is good advice. Also you could buy BTC122.00~ and sit on those as mined coins, Today. Building your own facility will be a money loser if you are just mining at that scale for yourself.
November 19, 2015, 12:50:57 PM
If I was given 40,000 I probably wouldn't invest too much into mining. Personally, I find the mining sector to be too unpredictable for my liking. Unless you are confident that you will profit or at least break even break even, then I would just buy Bitcoin. At the current price, you would be able to purchase well over 100 BTC and even have some extra to put towards mining.
November 19, 2015, 11:31:37 AM
While I agree with the commentary on the cheap power, I don't agree with waiting a couple of months to see since that is a never ending game in this space...
The point being there isn't any real advice to be given because the environment you are setting up the operation in will determine if it is profitable or not, in the US for example there are a select few areas where starting now one could be in the black with such a small investment unless the right set of decisions were made..
Ok now to the easy recommendation, pick a low cost hosting provider (Great North, HashPlex, Toom.in) and deploy your systems there, personally I would recommend Bitmain right now, but $40K isn't a large enough of an order size to get any discount from them, it's almost an order of magnitude too low.. Take a look at the all in cost of Avalon or Bitmain, include sourcing good PSUs (self promotion, I sell hundreds for large and small operations) and hosting, and pick a path..
washington state is cheap The point being there isn't any real advice to be given because the environment you are setting up the operation in will determine if it is profitable or not, in the US for example there are a select few areas where starting now one could be in the black with such a small investment unless the right set of decisions were made..
Ok now to the easy recommendation, pick a low cost hosting provider (Great North, HashPlex, Toom.in) and deploy your systems there, personally I would recommend Bitmain right now, but $40K isn't a large enough of an order size to get any discount from them, it's almost an order of magnitude too low.. Take a look at the all in cost of Avalon or Bitmain, include sourcing good PSUs (self promotion, I sell hundreds for large and small operations) and hosting, and pick a path..
November 19, 2015, 06:46:29 AM
While I agree with the commentary on the cheap power, I don't agree with waiting a couple of months to see since that is a never ending game in this space...
The point being there isn't any real advice to be given because the environment you are setting up the operation in will determine if it is profitable or not, in the US for example there are a select few areas where starting now one could be in the black with such a small investment unless the right set of decisions were made..
Ok now to the easy recommendation, pick a low cost hosting provider (Great North, HashPlex, Toom.in) and deploy your systems there, personally I would recommend Bitmain right now, but $40K isn't a large enough of an order size to get any discount from them, it's almost an order of magnitude too low.. Take a look at the all in cost of Avalon or Bitmain, include sourcing good PSUs (self promotion, I sell hundreds for large and small operations) and hosting, and pick a path..
The point being there isn't any real advice to be given because the environment you are setting up the operation in will determine if it is profitable or not, in the US for example there are a select few areas where starting now one could be in the black with such a small investment unless the right set of decisions were made..
Ok now to the easy recommendation, pick a low cost hosting provider (Great North, HashPlex, Toom.in) and deploy your systems there, personally I would recommend Bitmain right now, but $40K isn't a large enough of an order size to get any discount from them, it's almost an order of magnitude too low.. Take a look at the all in cost of Avalon or Bitmain, include sourcing good PSUs (self promotion, I sell hundreds for large and small operations) and hosting, and pick a path..
November 19, 2015, 04:48:12 AM
If you aren't in an area with VERY low cost electricity, the best thing you can do with that $40000 is spend some of it to move to an area with VERY VERY cheap electric, THEN start building a farm.
Next best option for now is ti WAIT a month or two, and see what Lketc/BW.COM come out with for a miner, and perhaps Innosilicon.
Next best option for now is ti WAIT a month or two, and see what Lketc/BW.COM come out with for a miner, and perhaps Innosilicon.
November 19, 2015, 02:50:10 AM
As the title says. We're planning to invest $40,000 for bitcoin Farm and we're starting from scratch.
We would love to know what will fit for our budget. What Hardware do we choose to start, what will be the in and output, do we need to stick to Bitcoin other than altcoins. Whats other things we should know before my team start building.
We really do hope your kind response and what you have in mind if you had given $40,000 for a Bitcoin Farm.
Thanks,
PS. we have a minor experience in mining. a year ago we started script mining so we know the terms, electric cost, pools and btc trading.
We would love to know what will fit for our budget. What Hardware do we choose to start, what will be the in and output, do we need to stick to Bitcoin other than altcoins. Whats other things we should know before my team start building.
We really do hope your kind response and what you have in mind if you had given $40,000 for a Bitcoin Farm.
Thanks,
PS. we have a minor experience in mining. a year ago we started script mining so we know the terms, electric cost, pools and btc trading.
You are asking for someone to plan your entire operation? I highly suggest a lot more research before spending anywhere near this amount. You need to have a good grasp a lot of things.
One huge thing is if you have a place with cheap electricity? Do you plan paying a hosting center? What is building like, where is it at some cooling systems such as evaporation only work in certain areas. The list kinda goes on. My best advice is to do some serious research and come back with more specific questions.
November 19, 2015, 02:06:09 AM
As the title says. We're planning to invest $40,000 for bitcoin Farm and we're starting from scratch.
We would love to know what will fit for our budget. What Hardware do we choose to start, what will be the in and output, do we need to stick to Bitcoin other than altcoins. Whats other things we should know before my team start building.
We really do hope your kind response and what you have in mind if you had given $40,000 for a Bitcoin Farm.
Thanks,
PS. we have a minor experience in mining. a year ago we started script mining so we know the terms, electric cost, pools and btc trading.
We would love to know what will fit for our budget. What Hardware do we choose to start, what will be the in and output, do we need to stick to Bitcoin other than altcoins. Whats other things we should know before my team start building.
We really do hope your kind response and what you have in mind if you had given $40,000 for a Bitcoin Farm.
Thanks,
PS. we have a minor experience in mining. a year ago we started script mining so we know the terms, electric cost, pools and btc trading.
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