Should I start mining with this electricity price ?

bitkokos2

hero member

Activity: 666

Merit: 500

Quote from: Xavier59 on February 16, 2016, 11:10:26 AM

Hi,

My father is working at electricity and we have electricity at 10% of its price.
So, actually, it is 0.15€/kWH and so it is 0.015€ for us.
Is it profitable ? Which miners should I buy ? Which coins ?

Thanks,
Xavier

First check www.coinwarz.com
Check the coin you want to mine.
Check the various mining equipment you want to buy (hashrate and power consumption in watts)
Enter them in coinwarz and you will understand if it worths mining.
Also have in mind that diff is rising.

When I first bought a miner years ago, it could mine around 4BTC per month by the time I ordered it from BFL. Delivery took 6 months. By that time it could barely make 0.05btc in a month. Cheesy

fricircled

full member

Activity: 201

Merit: 100

I have a many thouands of kWh per month, I will start mining altcoins. Either Ethereum or Monero. Ethereum is more profitable at the moment.

klondike_bar

legendary

Activity: 2128

Merit: 1005

ASIC Wannabe

Quote from: zalucia on February 17, 2016, 02:52:12 AM

A bitcoin miners S7 consumes about 1200W, that is 29 kWh per day or 864 kWh per month. So 1000 kWh per month is not that big.

thats my point.

its entirely possible he has no limit, or that its not 1000 kwh (an arbitrary number i put).

for example, in my local electricity certain rates and tax discounts only apply to power usage above/below specific thresholds so that a conservative household might have an overall better billing rate than the house that runs bitcoin miners 24/7

lolxxxx

legendary

Activity: 2198

Merit: 1032

Man , you are lucky if i have any discount in electricity i mine for sure .
OP, go and buy some s7,s and start mining and make some easy profit

The price is damn good .

merelcoin

hero member

Activity: 675

Merit: 504

@OP: I think you'll first need to find out if there are limits... Both as a cap (for example: only the first 1000 KWH are cheap) as structural limits (the breakers, the thickness of the wires,...).

Depending on these limiting factors, it might be intresting to buy a new S7 or avalon 6, or buy several second hand S3-S5-spondoolies-...

bonski

member

Activity: 98

Merit: 10

Yes you can with that price I'm surely you can harvest a lot of it and it will benefit you in the future.

zalucia

sr. member

Activity: 252

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A bitcoin miners S7 consumes about 1200W, that is 29 kWh per day or 864 kWh per month. So 1000 kWh per month is not that big.

fricircled

full member

Activity: 201

Merit: 100

1k kWh per month is very good. You can mine a lot of coin with that cheap rice. You will be very rich in the future.

maddy123

newbie

Activity: 36

Merit: 0

You can mine so much at this price. Bitcoin may be all the best !

Xavier59

hero member

Activity: 729

Merit: 545

Thanks for your answers.
I don't want to open a mining farm. Tongue

What I want is a fast ROI, without invest more than $200 firstly. Is that possible ?

XERES

sr. member

Activity: 364

Merit: 250

Quote from: klondike_bar on February 16, 2016, 11:59:47 AM

Quote from: Xavier59 on February 16, 2016, 11:10:26 AM

Hi,

My father is working at electricity and we have electricity at 10% of its price.
So, actually, it is 0.15€/kWH and so it is 0.015€ for us.
Is it profitable ? Which miners should I buy ? Which coins ?

Thanks,
Xavier

sometimes theres a limit, such as the discount only applies to the first 1000kWh

1000 KWH is still pretty good, that's like 10 s4's ?
SHA device would be best for mining, so Ant miner or spoodolies. If you are going to run that many units i would be careful with storage, ventilation and maintenance.

klondike_bar

legendary

Activity: 2128

Merit: 1005

ASIC Wannabe

Quote from: Xavier59 on February 16, 2016, 11:10:26 AM

Hi,

My father is working at electricity and we have electricity at 10% of its price.
So, actually, it is 0.15€/kWH and so it is 0.015€ for us.
Is it profitable ? Which miners should I buy ? Which coins ?

Thanks,
Xavier

sometimes theres a limit, such as the discount only applies to the first 1000kWh

bathrobehero

legendary

Activity: 2002

Merit: 1051

ICO? Not even once.

Lucky bastard... Grin

You can pretty much mine with anything at those prices.

Xavier59

hero member

Activity: 729

Merit: 545

Hi,

My father is working at electricity and we have electricity at 10% of its price.
So, actually, it is 0.15€/kWH and so it is 0.015€ for us.
Is it profitable ? Which miners should I buy ? Which coins ?

Thanks,
Xavier

Topic: Should I start mining with this electricity price ? (Read 671 times)