Topic: New mining venture - consultation sought - page 2. (Read 481 times)
I can easily tell you for under 1k miners you don't need more than 3 people for 24/7. You need 1-2 people if you want 7 day coverage but the cost for people might not be worth it. Most of the time not many problems happen, lots of time spent sitting around idle so if you do want to hire people make sure they do other things as well. 1 person can easily manage a few thousand machines after they are setup and running. (it's mostly the setup that needs people)
You guys have covered a lot of the important parts. I'll just chime in with a few things.
30C for temps is not bad, it's well within the specs of most miners out there. If by regularly you mean it will hit and hold 30 for a couple weeks you would likely want to use more intake and exhaust fans for your build. Unless you are tipping the thermometer above 40C consistently you won't need to use any other cooling methods that will eat into your profits, you can also use LP modes if available for your gear on these days.
How remote is this mine going to be? If this is say on a plantsite where you are located it really just needs to be a building with the ability to run a wall down the middle with intake fans on the 1 side and exhaust fans on the other, the miners fit into holes in the wall. This creates your hot/cold aisle for your mine. Build it with 100 in mind even if you only go with 50 this way you can add to it if the opportunity presents itself. Look up hot aisle/cold aisle in data centers for a good idea of what I described.
Just a note floorspace wise you can put 100 miners in a 25' row stacked 5 high using shelving. With the proper airflow the miners do just fine being bunched in close quarters; it's the air moving through the machine that matters.
Specking in your power requirements are going to be a bit harder and will be something you need to weigh and consider. I've never built a facility, but the requirements between 50 and 100 machine is drastically different, and varies even more so depending on what you buy. You are looking at a requirement of 55KW to 330KW with hashrates from 700TH to 6.5 PH . This is a range from s9's to M20S machines. I give you a range like that so you can consider what is cost effective for your situation. If your electricity is cheap enough you don't need the most efficient miners you can go with older gen gear and still turn a profit, or a mix.
I am guessing you have some industrial resources at your disposal so you may already know where to source the equipment and get power installed to the location. This can vary a lot and can dictate what is available to you, again if the price isn't a massive difference you may want to size it larger so you can handle the more powerful current gen miners. It comes down to risk/reward and your vision for your business.
I will note that you are getting into a risky venture and rewards aren't guaranteed. Next year does bring a halving event as well, which can put your facility in flux. If you are serious move as fast as you can to get things in place. Every day costs you 1 day of lower difficulty mining.
This might help.
Current List of Competitive Hardware - July 2019 Has listed distributors and manufacturers of gear.
30C for temps is not bad, it's well within the specs of most miners out there. If by regularly you mean it will hit and hold 30 for a couple weeks you would likely want to use more intake and exhaust fans for your build. Unless you are tipping the thermometer above 40C consistently you won't need to use any other cooling methods that will eat into your profits, you can also use LP modes if available for your gear on these days.
How remote is this mine going to be? If this is say on a plantsite where you are located it really just needs to be a building with the ability to run a wall down the middle with intake fans on the 1 side and exhaust fans on the other, the miners fit into holes in the wall. This creates your hot/cold aisle for your mine. Build it with 100 in mind even if you only go with 50 this way you can add to it if the opportunity presents itself. Look up hot aisle/cold aisle in data centers for a good idea of what I described.
Just a note floorspace wise you can put 100 miners in a 25' row stacked 5 high using shelving. With the proper airflow the miners do just fine being bunched in close quarters; it's the air moving through the machine that matters.
Specking in your power requirements are going to be a bit harder and will be something you need to weigh and consider. I've never built a facility, but the requirements between 50 and 100 machine is drastically different, and varies even more so depending on what you buy. You are looking at a requirement of 55KW to 330KW with hashrates from 700TH to 6.5 PH . This is a range from s9's to M20S machines. I give you a range like that so you can consider what is cost effective for your situation. If your electricity is cheap enough you don't need the most efficient miners you can go with older gen gear and still turn a profit, or a mix.
I am guessing you have some industrial resources at your disposal so you may already know where to source the equipment and get power installed to the location. This can vary a lot and can dictate what is available to you, again if the price isn't a massive difference you may want to size it larger so you can handle the more powerful current gen miners. It comes down to risk/reward and your vision for your business.
I will note that you are getting into a risky venture and rewards aren't guaranteed. Next year does bring a halving event as well, which can put your facility in flux. If you are serious move as fast as you can to get things in place. Every day costs you 1 day of lower difficulty mining.
This might help.
Current List of Competitive Hardware - July 2019 Has listed distributors and manufacturers of gear.
Ill pm you an email you can reach me at.
@Whyfhy
Sir, (I presume you're male, apologies if I have committed a cardinal mistake) you sound like just what am looking for, I will private message you in the next few hours.
thank you for your time and responses
Sir, (I presume you're male, apologies if I have committed a cardinal mistake) you sound like just what am looking for, I will private message you in the next few hours.
thank you for your time and responses
It's a speculative venture so you cannot make any guarantee's and I wouldn't.
You can order a ready to go container and likely save on cost. I believe Stryfe at Mopar Mining has one ready to go right now for 20,000 usd but its a storage unit i think.
Ive been working on a decay calculator for about 2 years , this calculator isnt complete yet and factors historical averages on difficulty,rewards, via json scrapers. It will be more accurate then given estimates from current calculators.
You might as well consider about XX% compounded decay on rewards too and consider reinvesing a portion of your operation back in to prevent nulling out.
You can waterwall cooling (swap cooler) its cheap as hell.(not the ones that mist) you can also refrigerate mineral oil on an industrial scale and immerse, but this requires a staff member thats compliant on that aspect(refrigerant ammonia blah blah).
I would step 3p to 30amp PDU's , you can cancel out employers by monitoring/automating sorta like a smart home , so buy pdu's with networking built in for physical resets if ssh hangs.
I remotely consult and can give you draft proposals ive used in the past to give you an idea how to present your investors while covering yourself in liabilities. (Again its a speculational venture)
I consult for flat fee's during deployment , or long term at agree upon operation percentage reduction via MultiSig (Like 1-15% depending on the operation size and efficiency )
I wouldn't touch it with a 10 foot pole.
You can order a ready to go container and likely save on cost. I believe Stryfe at Mopar Mining has one ready to go right now for 20,000 usd but its a storage unit i think.
Ive been working on a decay calculator for about 2 years , this calculator isnt complete yet and factors historical averages on difficulty,rewards, via json scrapers. It will be more accurate then given estimates from current calculators.
You might as well consider about XX% compounded decay on rewards too and consider reinvesing a portion of your operation back in to prevent nulling out.
You can waterwall cooling (swap cooler) its cheap as hell.(not the ones that mist) you can also refrigerate mineral oil on an industrial scale and immerse, but this requires a staff member thats compliant on that aspect(refrigerant ammonia blah blah).
I would step 3p to 30amp PDU's , you can cancel out employers by monitoring/automating sorta like a smart home , so buy pdu's with networking built in for physical resets if ssh hangs.
I remotely consult and can give you draft proposals ive used in the past to give you an idea how to present your investors while covering yourself in liabilities. (Again its a speculational venture)
I consult for flat fee's during deployment , or long term at agree upon operation percentage reduction via MultiSig (Like 1-15% depending on the operation size and efficiency )
Additional question how genuine are the adverts for mining hardware on 'Alibaba'? prices seem too good to be true
I wouldn't touch it with a 10 foot pole.
@Whyfhy
Wouldn't I need to have some idea of layout when building the infrastructure? In producing the business plan I will need details of tech...hardware, software...even details of how 'coins' mined will be recorded and sold. My backers are 'oilmen' and have no idea of crypto. The infrastructure is the easy bit.
You say 60 days lead time for the hardware.....am seeing the ability to buy mining hardware seems so difficult, the manufacturers all seem to have the best models sold out, there are seems to be quantity limits on what individual customers can buy at any one time. Other threads on this forum seem to say being on a waiting list is not a good idea as tech changes relatively quickly and all potential estimates can change dramatically with difficulty levels, BTC price movements, etc
I suppose what am asking, is how can put down a real 'factual' business plan (with emphasis on the tech) other than what I've picked in my cursory studies and knowledge.
Ideally would love to be starting to 'mine' within 90 days (especially if am using modified sea containers)
PS
yes. cooling is going to be a major issue, any suggestions, outside temperature regularly hits 30 degrees centigrade. I wonder how Florida and Texas based miners 'cool down' their equipment.
Cheers
Additional question how genuine are the adverts for mining hardware on 'Alibaba'? prices seem too good to be true
Wouldn't I need to have some idea of layout when building the infrastructure? In producing the business plan I will need details of tech...hardware, software...even details of how 'coins' mined will be recorded and sold. My backers are 'oilmen' and have no idea of crypto. The infrastructure is the easy bit.
You say 60 days lead time for the hardware.....am seeing the ability to buy mining hardware seems so difficult, the manufacturers all seem to have the best models sold out, there are seems to be quantity limits on what individual customers can buy at any one time. Other threads on this forum seem to say being on a waiting list is not a good idea as tech changes relatively quickly and all potential estimates can change dramatically with difficulty levels, BTC price movements, etc
I suppose what am asking, is how can put down a real 'factual' business plan (with emphasis on the tech) other than what I've picked in my cursory studies and knowledge.
Ideally would love to be starting to 'mine' within 90 days (especially if am using modified sea containers)
PS
yes. cooling is going to be a major issue, any suggestions, outside temperature regularly hits 30 degrees centigrade. I wonder how Florida and Texas based miners 'cool down' their equipment.
Cheers
Additional question how genuine are the adverts for mining hardware on 'Alibaba'? prices seem too good to be true
Then your off to a good start! Cooling could be a factor but here in TX its not too big of an issue.
But yea deploy infastructure first then look for miners as infrastructure is within 60 days of completion , what you look for now might not be available when you pull the trigger.
But yea deploy infastructure first then look for miners as infrastructure is within 60 days of completion , what you look for now might not be available when you pull the trigger.
@Whyfhy
Thanks for your reply.
Infrastructure shouldn't be too much a problem, I can relatively easily throw up 1050 sq ft (100m2) high ceiling warehouse, alternatively I can use converted shipping containers. I am locating in African oil fields, with access to electricity generated by 'waste natural gas'. We regularly ship out all sorts of heavy equipment to those fields, shipping in a bunch of computers and building a 'shed' will be in within our normal operations.
Yep, we currently use satellite for our internet access.
I am thinking our major challenge is understanding the technology, no doubt we'll need to employ 2 or 3 operators (at least to start with) - they will need to be available 24/7 I presume. But that can be arranged.
Frankly I think there's a good resource and potential set up waiting to be exploited. BTW our power supply is natively 220V/240V.
Thanks for your reply.
Infrastructure shouldn't be too much a problem, I can relatively easily throw up 1050 sq ft (100m2) high ceiling warehouse, alternatively I can use converted shipping containers. I am locating in African oil fields, with access to electricity generated by 'waste natural gas'. We regularly ship out all sorts of heavy equipment to those fields, shipping in a bunch of computers and building a 'shed' will be in within our normal operations.
Yep, we currently use satellite for our internet access.
I am thinking our major challenge is understanding the technology, no doubt we'll need to employ 2 or 3 operators (at least to start with) - they will need to be available 24/7 I presume. But that can be arranged.
Frankly I think there's a good resource and potential set up waiting to be exploited. BTW our power supply is natively 220V/240V.
This farm is to be placed in a very inhospitable tropical climate in the middle of the forest but with access to cheap electricity. Will need to set our own internet access and obviously independent power source.
Dont get ahead of yourself here, You need to deploy infrastructure first By time you've deployed your infrastructure and you have something audit ready there might be a new generation of miners out. (worry about the machines later and focus on consumption averages 2000-3000watts )
If its remote you also need to factor in freight/shipping as it might be a major cost for you.
In US we cant deploy "used" solar systems and tie in , can you where you are? (We can bank used though) Major cost differences in new and used here.
you'll likely need a satellite internet provider.
I've been into Bitcoin since 2016, heavily since 2017. Traded largely on LBC and used BTC for remittance and arbitrage. I have zero coding skills. Am an entrepreneurial businessman who believes strongly in 'hard' money and the ethos behind bitcoin in particular and if proven alt coins in general. I am also not adverse to making money with a bit of hard work, honesty and luck.
I have potential VC capital of $300,000 USD and I looking to setup a Bitcoin mining farm. This farm is to be placed in a very inhospitable tropical climate in the middle of the forest but with access to cheap electricity. Will need to set our own internet access and obviously independent power source.
Am looking on setting up such an operation, from construction of bricks and mortar in the most efficient way to disperse heat, the deployment and installation of between 50 to 100 machines.....Antimer S17 or T17 seems a good bet (MicroBT Whatsminer M205 seems a good alternative) - whats with this Innosilison 200= T/h's? - (this a pointer how naïve I am
, advice on cabling and connections, advice on software and running the nodes, and all the other things I obviously don't know, I need advice on all these areas.
Free advice on this forum is very welcome but PM me if you can offer professional/semi professional advice for a fee (small fee)
I have potential VC capital of $300,000 USD and I looking to setup a Bitcoin mining farm. This farm is to be placed in a very inhospitable tropical climate in the middle of the forest but with access to cheap electricity. Will need to set our own internet access and obviously independent power source.
Am looking on setting up such an operation, from construction of bricks and mortar in the most efficient way to disperse heat, the deployment and installation of between 50 to 100 machines.....Antimer S17 or T17 seems a good bet (MicroBT Whatsminer M205 seems a good alternative) - whats with this Innosilison 200= T/h's? - (this a pointer how naïve I am
, advice on cabling and connections, advice on software and running the nodes, and all the other things I obviously don't know, I need advice on all these areas.Free advice on this forum is very welcome but PM me if you can offer professional/semi professional advice for a fee (small fee
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