I suggest you start smaller if you're doing it on your own, there is a learning curve and small mistakes add up.
Or partner with someone who knows what they are doing and has experience and you can trust.
Or get a hosting provider like Giga Watt which as far as I know is the most reputable. Then you are partnering with experts.
Otherwise I'd suggest investing in the coin you want to mine instead of mining it. That's a lot to invest without having any experience. Just buy and hold Bitcoin. It will probably be more profitable, usually is, and much less work needed. Get a hardware wallet or paper wallet and you're done.
Topic: Need to start mining (MASSIVE BUDGET) (Read 2776 times)
I think that it's everything it's possible if you have a GOOD business plan.
And remember that most miners don't like new miners, in special case the BIG MINERS.
I think that with 61k, you can start a good trade with Miner and Exchange.
You need to be patient, maybe to take some pills... heheheh... no, I just kidding... but it's really stress. But definitely, you need to have patience! It's not easy. A good knowledge about electricity, it's very important.
I will suggest you, take a flight to China, do yourself good contacts and buy some new DASH Miners.
If you have a good IT-Guy, I will suggest to buy some FPGA Cards and use old IBM servers with PCI-E Cards with LINUX, it's perfect! But this is not for everyone... just for really IT-People.
For Bitcoin, I will not suggest. Only if you don't need to pay electricity, like Solar Energy.
After the first month or maybe the second month, if you have some lucky, bulld a MASTERNODE and start as a professional.
Good Friends are really important, it's the essence of this knowledge.
More details, PM.
Have a nice adventure!
And remember that most miners don't like new miners, in special case the BIG MINERS.
I think that with 61k, you can start a good trade with Miner and Exchange.
You need to be patient, maybe to take some pills... heheheh... no, I just kidding... but it's really stress. But definitely, you need to have patience! It's not easy. A good knowledge about electricity, it's very important.
I will suggest you, take a flight to China, do yourself good contacts and buy some new DASH Miners.
If you have a good IT-Guy, I will suggest to buy some FPGA Cards and use old IBM servers with PCI-E Cards with LINUX, it's perfect! But this is not for everyone... just for really IT-People.
For Bitcoin, I will not suggest. Only if you don't need to pay electricity, like Solar Energy.
After the first month or maybe the second month, if you have some lucky, bulld a MASTERNODE and start as a professional.
Good Friends are really important, it's the essence of this knowledge.
More details, PM.
Have a nice adventure!
If you want to do this as a low risk investment, don't do it.
If you want to take on risk, simply buying BTC should work.
If mining seems really exciting to you, read more about it, maybe buy/build/setup one rig to really understand what it's all about, before spending all that money.
If you want to take on risk, simply buying BTC should work.
If mining seems really exciting to you, read more about it, maybe buy/build/setup one rig to really understand what it's all about, before spending all that money.
If you would have just bought $63k of BTC at yesterday's lows then you'd already be around 10% gain ($6.3k)
If i had that amount of money i wouldn't invest in mining . Maybe 2 years ago it would have been a good idea. I don't say you won't make money from mining . You will make , and i'm pretty sure you will recover your investment , but it is too much work and time to put into this farm. If you don't have somebody to help you and if u already have a job you won't have time for this. I would invest in cryptos very wisely lets say half of that amount and in a fair amount of time , maybe 2 years , you will have maybe 10x form the initial investment. During the next 2 weeks is a very good opportunity to buy because everything is low due to the uncertainty of the Bitcoin scaling debate/ outcome.
Mining is a risky investment, I suggest you to invest some of your assets not all you mentioned.
I'm willing to invest like 63k USD for mining farm, do you think its a good idea?
if yes, any suggestions for me?
if yes, any suggestions for me?
i know i'm going out of theme...
but i'm really curious to know from where the 3000$ come out from
:-) :-) :-)
OP, make sure you know how much heat your farm will generate, how loud it will be, and how much electricity it will need. Operating that amount of hardware shouldn't be taken lightly. You will almost certainly need to build custom electrical and exhaust solutions.
this is important info.
63k in avalon 741's is around 80-90 pieces of gear all pulling 1000 watts so you are doing 80-90kwatts
a 200 amp 240 volt = 48000 watts
a 400 amp 240 volt = 98000 watts
so you kind of need 400 to 800 amp service
also 90 kwatts = 300,000 btu of heat.
my home has a 100,000 btu furnace and can keep my home toasty at 0 f or -16 c in the winter.
If you go gpu all nvida 1080 ti = 80 cards or about 16 five card rigs that is what 63 k would buy you would burn maybe 20-25 kwatts vs 80-90 kwatts
more reasonable to work with. good luck.
OP, make sure you know how much heat your farm will generate, how loud it will be, and how much electricity it will need. Operating that amount of hardware shouldn't be taken lightly. You will almost certainly need to build custom electrical and exhaust solutions.
Altcoin farm is the best option for you, you amotize your buy in 2/3 month, and you have a extra $ with resell. pm if you need help 
Point, 63k would be more like a "small pro" mining setup.
The main problem that I see is you have no idea how mining works and how rigs are assembled and operate. In your case I'd recommend hiring an experienced miner, even one that does it as a hobby, to prepare everything for you.
You need to make calculations and decide if it's profitable in your area, get a secure location with stable power and internet and buy hardware. You'll also need someone to monitor the rigs and be there to check if anything stops working or starts to overheat.
You need to make calculations and decide if it's profitable in your area, get a secure location with stable power and internet and buy hardware. You'll also need someone to monitor the rigs and be there to check if anything stops working or starts to overheat.
I am sorry to inform you that 63k isnt a massive budget to start mining btc.
As we speak , you could buy some gpu, but then again, infrastructure cost might take a good chunk of your capital. and also gpu are getting hard to get.
As we speak , you could buy some gpu, but then again, infrastructure cost might take a good chunk of your capital. and also gpu are getting hard to get.
what is your electricity rate? this will make the big difference here, if 5 cent then yes, go for antminer s9, you will roi fast and a good profit is awaiting you after that
if it's high better to look at a mining rig in the altcoin section that can be profitable even with 50 cent electricity
i would not suggest to buy over mining ever, especially with current profit, only someone who can not do mining because of other reason like space very very high electricity etc, would do a wise decision by buying instead
if it's high better to look at a mining rig in the altcoin section that can be profitable even with 50 cent electricity
i would not suggest to buy over mining ever, especially with current profit, only someone who can not do mining because of other reason like space very very high electricity etc, would do a wise decision by buying instead
At 50 cent electricity, how can ROI be possible?
because mining altcoin is very profitable one gpu can deliver up to $200 per month, and consume only $20 with 18 cent, so even with 50 cent you are comparing $60 against 200
it's clear that even at 100 cent you are in profit, but of course it's not recommended to mine with such electricity, would be bad if in the future the profit go down, better to have a margin
We need more information before we can make any meaningfull suggestion.
Primary concerns are "what is your power rate" and "what is your climate".
Secondary concerns include "how good of ventilation setup can you have at your mining location" "how close are neighbors that might get irritated and lots of fan noise" ....
Primary concerns are "what is your power rate" and "what is your climate".
Secondary concerns include "how good of ventilation setup can you have at your mining location" "how close are neighbors that might get irritated and lots of fan noise" ....
what is your electricity rate? this will make the big difference here, if 5 cent then yes, go for antminer s9, you will roi fast and a good profit is awaiting you after that
if it's high better to look at a mining rig in the altcoin section that can be profitable even with 50 cent electricity
i would not suggest to buy over mining ever, especially with current profit, only someone who can not do mining because of other reason like space very very high electricity etc, would do a wise decision by buying instead
if it's high better to look at a mining rig in the altcoin section that can be profitable even with 50 cent electricity
i would not suggest to buy over mining ever, especially with current profit, only someone who can not do mining because of other reason like space very very high electricity etc, would do a wise decision by buying instead
At 50 cent electricity, how can ROI be possible?
what is your electricity rate? this will make the big difference here, if 5 cent then yes, go for antminer s9, you will roi fast and a good profit is awaiting you after that
if it's high better to look at a mining rig in the altcoin section that can be profitable even with 50 cent electricity
i would not suggest to buy over mining ever, especially with current profit, only someone who can not do mining because of other reason like space very very high electricity etc, would do a wise decision by buying instead
if it's high better to look at a mining rig in the altcoin section that can be profitable even with 50 cent electricity
i would not suggest to buy over mining ever, especially with current profit, only someone who can not do mining because of other reason like space very very high electricity etc, would do a wise decision by buying instead
I'm willing to invest like 63k USD for mining farm, do you think its a good idea?
if yes, any suggestions for me?
Decide if you want to mine Bitcoin or Altcoins first. Because you'd have to plan your farm completely different for each situation.if yes, any suggestions for me?
And think if you REALLY want to do this, instead of dropping $63K on Bitcoin/Altcoins themselves. You almost always receive better profits by buying a coin instead of buying equipment to mine it.
I'm willing to invest like 63k USD for mining farm, do you think its a good idea?
if yes, any suggestions for me?
if yes, any suggestions for me?
Mining is risky, as trading or anything related to altcoins. If it's spending money and you can live without it, wait for the bitcoin hard fork and ethereum proof of work discussions to conclude before using up all your money.
I'm willing to invest like 63k USD for mining farm, do you think its a good idea?
if yes, any suggestions for me?
No if yes, any suggestions for me?
I'm willing to invest like 63k USD for mining farm, do you think its a good idea?
if yes, any suggestions for me?
if yes, any suggestions for me?
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