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Topic: Talked boss into mining in our server closet - page 2. (Read 2378 times)

hero member
Activity: 700
Merit: 500
If you're just using server CPUs, add my vote to mine LTC instead.

I do not want to have to talk to my boss about LTC after finally convincing him to give some Bitcoin investing a try. I think trying to raise funds to buy a few ASIC miners is the way I want to go. Is it necessary to go through an exchange like bitfunder or do you think I could raise funds on the forum for this?

How much can you offer for remote hosting? (Power available/space/cooling). With the unhousehold friendly BFL mini-rigs cost some people may be interested in hosting off-site if your fees/% take is reasonable.  Something in the order of electrical + rent fee and 5% of mining proceeds to cover on-demand management.  That's likely to be your lowest cost to generate worthwhile revenue but you need to be able to host and provide cooling for many units to truly entice most bosses I would think....

It is a large server room. It could host more equipment then I would feel comfortable operating and it has air conditioning units setup that were part of the building when we moved in. We are also located in the southwest and pay business electrical rates so it is very cheap. My boss said $0.03 per kwh.

Would anyone be willing to lend me BTC for a listing on bitfunder or another exchange in exchange for shares in the operation or a promise to repay when the IPO sells?

I'll just suggest that you reconsider this mining on the company dime with CPUs or GPUs. CPUs are just going to be plain underpowered and GPUs are probably just going to throw more heat into the server room than the trouble is worth.

If you are serious consider getting some Asic miners or even Used FPGA miners, rackmounting them is rather trivial and the rest of the servers will thank you for saving them from an early death.

I doubt anyone is going to be excited in mining bond investments after last year's drama... Or lending for mining in general... If you need to know why it is time to read MOAR...
newbie
Activity: 16
Merit: 0
If you're just using server CPUs, add my vote to mine LTC instead.

I do not want to have to talk to my boss about LTC after finally convincing him to give some Bitcoin investing a try. I think trying to raise funds to buy a few ASIC miners is the way I want to go. Is it necessary to go through an exchange like bitfunder or do you think I could raise funds on the forum for this?

How much can you offer for remote hosting? (Power available/space/cooling). With the unhousehold friendly BFL mini-rigs cost some people may be interested in hosting off-site if your fees/% take is reasonable.  Something in the order of electrical + rent fee and 5% of mining proceeds to cover on-demand management.  That's likely to be your lowest cost to generate worthwhile revenue but you need to be able to host and provide cooling for many units to truly entice most bosses I would think....

It is a large server room. It could host more equipment then I would feel comfortable operating and it has air conditioning units setup that were part of the building when we moved in. We are also located in the southwest and pay business electrical rates so it is very cheap. My boss said $0.03 per kwh.

Would anyone be willing to lend me BTC for a listing on bitfunder or another exchange in exchange for shares in the operation or a promise to repay when the IPO sells?
newbie
Activity: 20
Merit: 0
Why not invest in the rigs yourself and keep the profits?

Because not everyone is a greedyass miner.
hero member
Activity: 490
Merit: 500
If you're just using server CPUs, add my vote to mine LTC instead.

I do not want to have to talk to my boss about LTC after finally convincing him to give some Bitcoin investing a try. I think trying to raise funds to buy a few ASIC miners is the way I want to go. Is it necessary to go through an exchange like bitfunder or do you think I could raise funds on the forum for this?

How much can you offer for remote hosting? (Power available/space/cooling). With the unhousehold friendly BFL mini-rigs cost some people may be interested in hosting off-site if your fees/% take is reasonable.  Something in the order of electrical + rent fee and 5% of mining proceeds to cover on-demand management.  That's likely to be your lowest cost to generate worthwhile revenue but you need to be able to host and provide cooling for many units to truly entice most bosses I would think....

Alternately, LTC is ripe for sweeping up low cost gpu and generating very nice btc returns with trading, your still mining "for" btc but your using a platform that produces better ROI with lower costing last Gen BTC hardware.... that could be your sales pitch for LTC if you want to brave it....
newbie
Activity: 12
Merit: 0
also, what if your boss'es boss finds out,  thinks this is a bad idea, why risk your job...
newbie
Activity: 42
Merit: 0
I bet you will come into work one day and your boss will have bought some big rig and really got into BTC haha.
newbie
Activity: 12
Merit: 0
Don't mine it isn't worth it

ditto just spend the $ buying coins now it'll get you more in the end
newbie
Activity: 5
Merit: 0
i think it's a time loss and it's not worth it
newbie
Activity: 56
Merit: 0
If you're just using server CPUs, add my vote to mine LTC instead.
I do not want to have to talk to my boss about LTC after finally convincing him to give some Bitcoin investing a try. [....]
*shrug*  It'd be easy enough I'd think.  All you'd have to say is "Basically the same -- but this crypto-currency mines better on our hardware."
newbie
Activity: 16
Merit: 0
If you're just using server CPUs, add my vote to mine LTC instead.

I do not want to have to talk to my boss about LTC after finally convincing him to give some Bitcoin investing a try. I think trying to raise funds to buy a few ASIC miners is the way I want to go. Is it necessary to go through an exchange like bitfunder or do you think I could raise funds on the forum for this?
newbie
Activity: 56
Merit: 0
If you're just using server CPUs, add my vote to mine LTC instead.
newbie
Activity: 16
Merit: 0
I am more interested in purchasing or hosting new equipment. Our existing equipment would not do much. I have been looking into listing on the various exchanges to raise BTC to buy ASICs. It seems like that would be the ideal situation. It would be pretty neat to raise BTC to start an ASIC mining operation with no costs. I think that might attract investors right?
newbie
Activity: 15
Merit: 0
Not sure if it will be profitable to mine btc with server because it doesn't usually have great gpu. Not sure if mining litecoin will make it more worthwhile. Maybe someone more experience can comment on this.
newbie
Activity: 4
Merit: 0
Haha good for you !
donator
Activity: 1218
Merit: 1015
It might be a great time for remote hosting. It's getting hot, and difficulty's continuing to increase. You could probably get away with taking 50-75% of revenues for running others' GPUs, because they'll likely be unprofitable for the owner to run much longer (if still able right now).

You'll probably want a good gauge on boss tolerance, though. A few big clients, and you'll be blowing through thousands a month in electricity bills.
Although, if it's a big office building, chances are the electricity price is going to be pretty low.
Maybe, depending on the electricity provider. A lot of places, at least in the US (including my residence in MI), charge in a progressive tier system, where "buying in bulk" bumps you up into way higher price tiers. Provider for my house does ~$.075/kWh for the first 200kWh, then soars up to ~$.1125/kWh, then soars again to ~$.18/kWh after 500kWh or so. Idunno if there are laws in some places mandating it, or if it makes sense for some reason I'm missing -- maybe it's just a way to hike rates on significant consumers while claiming it's a policy for the environment. I've heard CA is particularly horrible with the price tiers.
full member
Activity: 194
Merit: 100
Litecoin should be much better on anything besides asic
newbie
Activity: 41
Merit: 0
We have a rented 19" server rack in a big datacenter where we host our company's services on our own physical servers (and we don't have to pay extra for electricity). Also you hace professional cooling and redundant power and internet connectivity.

So I also talked with my boss if I could use the available rackspace to place there a small mining rig and he agreed. Smiley

Unfortunately we do not have much space left in the rack, so at the moment I am building a small mining rig with 3 graphic cards (in a very small ATX case). It will not be a big player in the bitcoin network, but as long as I do not have to pay for electricity every single hash per second will be profitable.

And as a side effect will I learn more about the bitcoin technology and the community.. I'm just excited to get involved. Smiley

newbie
Activity: 40
Merit: 0
It might be a great time for remote hosting. It's getting hot, and difficulty's continuing to increase. You could probably get away with taking 50-75% of revenues for running others' GPUs, because they'll likely be unprofitable for the owner to run much longer (if still able right now).

You'll probably want a good gauge on boss tolerance, though. A few big clients, and you'll be blowing through thousands a month in electricity bills.
Although, if it's a big office building, chances are the electricity price is going to be pretty low.
newbie
Activity: 31
Merit: 0
You could order a Butterfly Labs (BFL) ASIC the little one is 5 GH/s and is around $280.00 US.

That is a minimal investment, but currently BFL will not be shipping new orders till July/August.
donator
Activity: 1218
Merit: 1015
It might be a great time for remote hosting. It's getting hot, and difficulty's continuing to increase. You could probably get away with taking 50-75% of revenues for running others' GPUs, because they'll likely be unprofitable for the owner to run much longer (if still able right now).

You'll probably want a good gauge on boss tolerance, though. A few big clients, and you'll be blowing through thousands a month in electricity bills.
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