Topic: New miner & looking to invest. Is it worth it? (Read 2620 times)
It's not profitable anymore to mine bitcoin unless the price will rise to at least $600. Rather than spending $200 on your electric bill and mining 0.3 BTC, you're better off buying 0.8 btc with cash
Hey guys- New to the forum and looking for some advice.
Ive played around with BTC miners for a while now but I wanted to expand and start getting serious about it. I have a bit of money to invest (and don't want to get into cloud mining) but my question is - Do you think it is worth it at this time to mine with owned hardware? I have been watching the BTC value go up and down (as it should), but it seems to steadily keep going down. I'm currently looking at Spondoolies systems and the rig I have planned will push around 18TH/s . Don't get me wrong, I know there is money to be made with a rig like that.... but do you think this is something that I should get into right now? Wait it out and study the market for a bit? Any advise will be greatly appreciated! Like anyone, I just want to make sure I make a smart investment and not just jump into something.
Thanks!
at 0.09/kw/h very likely you will end up losing money in the end Ive played around with BTC miners for a while now but I wanted to expand and start getting serious about it. I have a bit of money to invest (and don't want to get into cloud mining) but my question is - Do you think it is worth it at this time to mine with owned hardware? I have been watching the BTC value go up and down (as it should), but it seems to steadily keep going down. I'm currently looking at Spondoolies systems and the rig I have planned will push around 18TH/s . Don't get me wrong, I know there is money to be made with a rig like that.... but do you think this is something that I should get into right now? Wait it out and study the market for a bit? Any advise will be greatly appreciated! Like anyone, I just want to make sure I make a smart investment and not just jump into something.
Thanks!
I think it would be better to just buy them. The 4 $1600 machines would be around 30 BTC, so unless you can find mining hardware that can mine 30 BTC at the same price, it's ALWAYS better to buy.
You can find secondhand SP30s in the sales forum for around $1600, but scrounging up 4 at that price range would be difficult.
what is your power cost?
I live in PA so it is about $0.09/ kWh
I think you will lose money. I can be wrong.
Just to be more clear because I forgot to add this in my post.
I'm looking at 4 Spondoolies SP30 's . 4.5TH/s
If you're looking at Spondoolies SP30's, you might as well go for the SP31's at 4.9 TH/s:
http://www.spondoolies-tech.com/products/sp31-yukon-shipping-from-stock
Don't think they sell the SP30's anymore anyways.
what is your power cost?
I live in PA so it is about $0.09/ kWh
I think you will lose money. I can be wrong.
Just to be more clear because I forgot to add this in my post.
I'm looking at 4 Spondoolies SP30 's . 4.5TH/s
what is your power cost?
I live in PA so it is about $0.09/ kWh
I think you will lose money. I can be wrong.
what is your power cost?
I live in PA so it is about $0.09/ kWh
Nobody can predict what will happen in the future
If we all knew Apple would be the #1 company in the world, we all would of invested in 1998.
You will either make alot of money, make nothing, or lose alot of money.
Its a risk, either take the risk and reap the rewards or losses or don't.
If we all knew Apple would be the #1 company in the world, we all would of invested in 1998.
You will either make alot of money, make nothing, or lose alot of money.
Its a risk, either take the risk and reap the rewards or losses or don't.
what is your power cost?
at 10 cents a kwatt 18000 gh costing 6000 usd will lose 5000 to 2000 usd.
but at 5 cents a kwatt 18000 gh costing 6000 usd will lose 3000 to make 5000 profit
so if your power is really cheap it may pay-off.
at 10 cents a kwatt 18000 gh costing 6000 usd will lose 5000 to 2000 usd.
but at 5 cents a kwatt 18000 gh costing 6000 usd will lose 3000 to make 5000 profit
so if your power is really cheap it may pay-off.
Hey guys- New to the forum and looking for some advice.
Ive played around with BTC miners for a while now but I wanted to expand and start getting serious about it. I have a bit of money to invest (and don't want to get into cloud mining) but my question is - Do you think it is worth it at this time to mine with owned hardware? I have been watching the BTC value go up and down (as it should), but it seems to steadily keep going down. I'm currently looking at Spondoolies systems and the rig I have planned will push around 18TH/s . Don't get me wrong, I know there is money to be made with a rig like that.... but do you think this is something that I should get into right now? Wait it out and study the market for a bit? Any advise will be greatly appreciated! Like anyone, I just want to make sure I make a smart investment and not just jump into something.
Thanks!
Ive played around with BTC miners for a while now but I wanted to expand and start getting serious about it. I have a bit of money to invest (and don't want to get into cloud mining) but my question is - Do you think it is worth it at this time to mine with owned hardware? I have been watching the BTC value go up and down (as it should), but it seems to steadily keep going down. I'm currently looking at Spondoolies systems and the rig I have planned will push around 18TH/s . Don't get me wrong, I know there is money to be made with a rig like that.... but do you think this is something that I should get into right now? Wait it out and study the market for a bit? Any advise will be greatly appreciated! Like anyone, I just want to make sure I make a smart investment and not just jump into something.
Thanks!
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