Topic: Small Commercial GPU Farm Owner Looking To Add BTC ASICs (Read 229 times)

This is what I have done.

I have btc gear
I have ltc gear
I have eth gear

It is all paid off.

I could 3x my gear I have that much cheap power.  way better price than 10-11-12 cents.

At the moment the only gear that can be found close to reasonable is an odd gpu.  So when I get a good price on a gpu I buy it.
I have been adding 1 gpu about every 10 days close to msrp prices.

As basic as this sounds, many people don't understand it, generally speaking, mining beats hodling only during sideways / accumulation phases, where the value of BTC against fiat isn't going anywhere for an extended period of time and holding BTC doesn't make you more BTC nor more fiat, that will be a paradise for mining.

The other two phases of the market are either an extended bull like that one we are in or an extended bear,  you have perfectly explained the bull scenario and I think it's pretty clear to everyone, the bear scenario will heavily depend on your own ways of dealing with the market if you are a perma-bull who plans to hodl for "eternity" then buying gears is the better option, if you prefer to stay as liquid as possible to potentially exit while the exit gates are still empty, then you would want to hodl BTC rather than a mining gear, I mean it takes a second to sell your BTC but takes a lot longer to sell your mining gears.

Another major factor that many seem to ignore is that mining gears have a limited timespan, it either becomes unprofitable to mine or slowly fails and dies, while hodling BTC costs almost nothing and it has no lifespan to it (well, unless you mess up with the security measures and you lose it) but well, your mining gears can catch fire.

Now back to the specific case of OP, your power rates is far from competitive, during this mania (which I believe will end soon) you could make a profit with almost every gear you buy, but once it's over you will be competing against the average 4-5 cents and the 1-2 cents during the hydro season in China (which lasts for about half of the year), so if you are not in the 30w/t range you will be forced to shut-down your miners, I would not buy mining gears at such prices, but if you decide to do so anyway, try to stick to the most efficient gears so that you can at least ROI on the fiat value you are going to pay.

As for where to buy from, I have just answered a similar question here, feel free to check it out.

That's a great point actually.

This is a great point. I have capacity to run more miners but I have paused expansion because at the moment, I am making more money holding my BTC mining earnings and watching the price increase.

You might also want to look at ROI in terms of BTC instead of $, especially if you are a hodler. If you assume difficulty will increase, then the ROI will take longer in BTC.

If you assume that price and difficulty are going to double in a year and you'll ROI in $ in a year, the $ value of the BTC you spent (or didn't buy) would have been worth double while your miner just got back to 0.

If you firmly believe in BTC and the price continuing to increase, my advice would be to invest in new equipment, not second-hand. I've had nothing but trouble buying used miners but of course not everyone will agree.

For an ROI example, let's try the M30S 102t from the list I sent you.

Earnings as I write this post are currently $0.37 per T, per day. So for 102t = $37.74 daily income.

That miner will consume 3700w x 24 = 88.8kw per day.

88.8 x $0.11 = $9.76 cost to run per day.

$37.74 - $9.76 = $27.98 profit per day.

Miner cost = $11,846 (call it $12,000 with shipping).

$12,000 / $27.98 = 428 days to ROI at current earnings.

The difficulty WILL continue to increase, which means the amount of BTC earned per TH will decrease. So in order to retain at least $0.37 earnings per T, the BTC price MUST continue to increase as the difficulty increases.

To summarise, if earnings remain stable at $0.37 per TH you will ROI in 428 days.

Of course it's perfectly plausible that BTC price could explode. If for example the BTC price increased 100% in the next month, earnings per TH could almost double as well which would smash your ROI time - all risky business though. But hey, we all believe in BTC otherwise we wouldn't be mining in the first place - now is potentially a dangerous time to invest though.

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If you know of a reliable source selling Innosillicon 67th miners at $2000 please let me know

Thanks I will check out the site.

I don't want to host them somewhere else because I want to keep this commercial space long term for other things outside of mining so it's worth it for me.

Also, I don't mind the risk...I regularly risk $10k plus on crypto trades with no problem so this is just another way to spread my risk and possible gain new crypto in the end.

Also, I don't care if ROI takes a year...I'm a long term HODL'r and I believe BTC is going to continue on the upward trend barring some sort of global emergency.

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Thanks for the input.

So I really don't care how if the ROI is 3 months or even a year...probably not much more then a year though. I also don't mind the risk.

I'm already doing very well on GPU mining and I have an LLC setup for all this so if I risk and lose on BTC mining it will be a tax deduction anyway. Realistically I would like to find a BTC ASIC with 6 month or less ROI at my power rate. I also firmly believe that BTC is only going to trend up over the next few years so I'm willing to take the risk.

10 cent power sucks.

in the summer our power which is far lower was close to break even on s9 and s15 gear.

the innosilicon is 67 th and pulls 3300 watts

I have 3 innosilicon units.

only 1 runs to spec.

lets analyze buying a 67th and mining it at 11 cents.

3300 x 24 = 79.2 kwatts a day make that 80

80 x .11 = $8.80 for power cost.

67 x .3617 =  $24.23

So 15.43 a day profit

So if you get one today for 2000 it would take 130 days to payoff.

If btc slides to 40k you would be in trouble.

Historically 5 cent mining has been the 'safe' always make money number.

10 cents was okay.

what do they want foR it shipped to your door.  and what about trump tax (if usa)

10-11 cents isn't great for BTC mining - you could host them elsewhere for half that, and with professional repair / maintenance staff on hand 24/7.

There is a big shortage on BTC miners at the moment with very long waiting lists ordering direct from manufacturers. This means if you want to buy equipment now, you will have to pay a huge premium. An S19 Pro (110t) will set you back around $12,000 - $13,000 usd each unit at the moment from stock. This is fine if BTC price keeps increasing and mining earnings hold (or increase). But if there is a significant reduction in coin value, or significant increase in difficulty (or both) you run the risk of never breaking even after spending such a huge premium on the equipment, especially at 10-11 cents electric.

I've been very lucky. I got into mining just before the halving last year when miners were very cheap. Those miners are now worth 4 - 5 times what I paid for them new, even though they are now 2nd hand!

And ordering miners from Alibaba is not a good move, nothing but trouble from what I've seen. There are some reputable sellers who will be able to supply from stock (at a premium) but you MUST be careful and do your research first as there are a lot of scammers out there.

For an idea of prices, look here: https://sales.hashexpert.net/latest-crypto-mining-equipment-prices/

P.S. I can vouch for this supplier, I have made 3 successful transactions with them.

Hey guys, long term crypto HODL'r and long time (small time miner) here.

In the last few months I opened a small commercial mining operations to capitalize on the booming ETH rates right now and thankfully I was able to get very low rent, good hvac, close to my house, and decent power rates (around 10-11cents).

My original plan was just mine with GPUs (some I own some are for some customers who rent space here) but with ETH 2.0 moving along I want to in the long term switch to BTC ASIC mining.

So, I'm pretty familiar with how ASICs work...years ago I had an Antminer S7 for like a week but quickly realized I couldn't keep it at home LOL.

But now I have this great industrial space that I really want to keep and I have some capital on hand so I think I'm ready to make the plunge and get some ASICs. Right now I'm looking at the Innosilicon t3+pro 67t and it looks pretty good but the only place I can find them for sale is Ali.

So I guess my questions are...is it a bad idea to order from there and also is there a better miner I should start with? I don't really have a budget per say...but I'm more concerned about ROI.

Any advice is appreciated!