Topic: Which ASIC miner to choose for Bitcoin Mining? (Read 324 times)

Well, I guess you did not read the last line of my post. As I said, sometimes Topic A brings Topic B and I don't think it's bad to discuss Topic B if it's kinda related to Topic A. However, I do not want to join in the debate because I know you are right. So, It does not worth writing shit when I am not confident in myself. I don't know if the rules are that much strict.

However, since I got my answer and believe these is nothing much to discuss about it, I would like to close this thread. If anyone have any comment, let me know, I will open the thread again.

Cheers!

Perhaps you should read BITCOIN MINING INTRO & RULES OF THIS SUBFORUM - READ BEFORE POSTING
Specifically point-2:
2. This section is for BITCOIN MINING and related discussion ONLY. All bitcoin forks and alternate cryptocurrencies and discussion of them should be directed to a dedicated forum for those, or one of the altcoin subforums on this forum. All discussion regarding them will be moved without warning to the altcoin sections. If your topic is related to multiple currencies, then unless it is primarily about bitcoin it will be moved. Even if it is about sha256d mining but not about bitcoin it will be moved.

As Stompix suggested, once the conversations go off topic - move or continue them where the new direction (altcoins) belongs.

Sorry to say but accusing Fuzzy of not knowing what he is talking about in the mining section is a sign you're on the wrong path.
It's simple, as I said before "helium mining, chia mining...shitcointalk!", any talk about how one of those is best for mining is altcoin trash.


Doesn't make sense!
Revenue (not profit) is up 30%, even assuming you were on flat zero profits mine just to get clean no kyc coins right now you would be in profit.
If before you would spend 1$ for 1$ now you're making 30 cents profit, so your assumption is completely flawed.
The hydro you quoted at the start jumped from making 30 cents at 12 cents/kWh to $3.38, I honestly don't know how you could picture somebody who has been mining quoting now, it doesn't make sense!


Speak with Mikeywith!

Surely it won't be a good move since the electricity cost has increased. But, I was wondering if there are any ASIC miners that can be profitable even with such electricity costs. All I found is some Bitcoin miner with very low profitability. I also thought about other mining gears like Chia HDD farming a while ago, but I don't think it's worth spending that much to farm chia. I saw how HNT mining was creating hype at some point and then slowly disappeared. I feel like the Kaspa mining has the same future.


I anonymously contacted some miners who were attempting to sell their ASIC but unfortunately, when you talk with a seller, they won't give you the correct information. Most of their ASIC miners become a lose project because those are old miners.

Learn Bitcoin, are you planning to mine? In here in Bangladesh? I don't think that's a good idea. You know how unreliable electricity is in our country. We don't have enough electricity to fulfill our demand. Where I live in load shedding is happening all the time. Electricity price per watt also went up recently. So I don't know if that's a good move.

Also there are some rules with consumption of electricity. The housing and factories (Basically commercial) have different price chart. So if they see unusual consumption of electricity in your end they might get a little suspicious. You know how power hungry a miner is.

My suggestion would be try to reach out the miners of Bangladesh. They might be able to show you the current reality of mining in Bangldesh. Mining gig is can be very expensive. So before investing, you should consider those, cause the amount is big.

I understand that. As you can see, Bitcoin already touched the $34.5K mark today. I understand that Mining Bitcoin with high electricity costs like mine is not profitable at all. I don't know how philipma1957 still continues and what his electricity cost is at this moment. But I can assume that he is holding his Bitcoins until the next bull run which will start slowly just like this morning.

Today, I woke up and saw Bitcoin touched the 34K range while it had been between 25K and 29K for the last couple of months. But it's hard for people like me to continue the business with such electricity costs. I didn't even start, so why am I thinking about continuing?

Looking at the past couple of day, Bitcoin has recently surged from 26k to 30k. There is uncertainty about whether Bitcoin will surpass the 31,000 level, considered a significant support level but I am of the opinion that it is going to rise. As Bitcoin prices rise, Asic miner prices and profitability are also expected to increase. The coming days and months for bitcoin are going to be a good one because of the potential for higher profitability in Bitcoin mining and the importance of low electricity costs for miners to maintain their profitability. 

Huh? 

Do you even know what you are talking about? I am somewhat puzzled and haven't gotten you enough yet.
If I understand you correctly, you are concerned about the Iceriver Kaspa miners that we were talking about. Well, that comes from when we discussed profitability and the electricity cost. Of course, I had no intention of talking about altcoin miners in the Bitcoin mining section. Sometimes, topic A is related to topic B, and there is nothing wrong when you talk about it. The overall discussion was about which ASIC miner to start Bitcoin Mining.

At OP & others: Getting waayy of the section topic folks...
Lose the crapcoin bullshit as it has NO place here. Ya know - BTC only section and all...

As I already said, my electricity is not cheap at all. It starts at $0.08 per unit and increases up to $0.2 per unit depending on electricity usage. If someone uses more than 500 unit of electricity, per unit will be $0.15 and it will be $0.2 if I exceeded the 1000 unit.


It's because of what I have mentioned in my previous post, right? Kaspa's block reward and the reward halving system. I can see that most of their miner was too expensive and too profitable. KS0 miner was mining $13 a day a couple of months ago and now $1.23 a day after the electricity cost.

You got it wrong my man. I took Kaspa as a miner that uses less energy and generates much profit right now and in this case, let's forget my old words and imagine that Kaspa is a new antminer created for bitcoin. This was only example to demonstrate that you can find a miner that can consume a lot electricity and generate tons of money for those who have free electricity and there you can find miner that can be so energy effective that those with free electricity and expensive electricity will generate the same profit. If someone has free electricity, they can not use that advantage by mining with energo effective miner.

Today I wouldn't mine. It's a headache to buy miners from Bitmain, it's headache to send damaged miners back to bitmain and explain customs that they shouldn't ask you to pay tax again when you receive it. Mining is full of headache right now.  It doesn't worth anymore for individuals, it's only left for big corporations and for some mafia who has access to very cheap electricity and doesn't pay import taxes. One of them is BitFury in my country.

vs

Bruh! 
The law of economics will dictate everything, if a gear makes 10x times more than another everyone will plug in that gear, once 10 times more people have done so both algos are going to be on the same profitability rate. The only thing that distorts this image is the volatility in crypto and the fact that manufacturers can't keep up with it, if today you could enter wallmart and buy a KS3 I could tell you that the hashrate would be doubling in a day.

It's the same story, helium mining, chia mining...shitcointalk!


I see it more like
1) Don't mine!
2) Ready for headache number 2, how much of that cheap energy you have, and how much money you have in your pocket

It's the worst decision to buy Kaspa miner right now because Kaspa mining market will become saturated very soon and many people will be left with useless gear. First come first served can be said on Kaspa miners. Btw I can't swear for this but I know that I wouldn't risk because of my past experience.

You have two options in mining:
1. If you don't have cheap electricity, buy a miner that consumes less energy and generates more money.
2. If you have access to cheap electricity, buy a miner that consumes as much energy as possible but also generates as much money as possible. Usually, you'll find miners that consume a lot of energy in cheap price.

According to whattomine, MicroBT Whatsminer M53S Hydro generates -$16.23 if your electricity price is 0.20 cent but it generates $16.23 if your electricity is free.
If you have Bitmain Antminer KS3 and you pay 0.20 cent/kilowatt, then your net profit will be $109.96 but if you have free electricity, your net profit will be $127.00. You see the difference? KS3 is a great choise for absolutely every person on the earth, so, it's price will increase and ROI will decrease but since MicroBT Whatsminer M53S Hydro consumes a lot of energy, no one wants it, so people try to get rid of it but there are people who have access to free electricity, so, it's a great option for them.

But since halving is in less than 200 days, I would be extra careful. You also have to consider when Bitmain announces new miners because that will have impact on miners market.

Most profitable....
It's not just that shiny number that matters it's the price per th and efficiency
S21 35 $/T,  16.0J/T
S19j Pro 21 $/T  23J/T

So let's say you have dirt cheap electricity 2 cents per kWh
S21Hydro, each TH brings you 6 cents, costs you 0.7 cents, profit 5.3 cents , 660 days to ROI
S19k, each TH brings you 6 cents, costs you 1.1 cents, profit 4.9 cents 428 days to ROI

you have 6 cents per kWh
S21Hydro, each TH brings you 6 cents, costs you 2.1 cents, profit 3.9 cents,  900 days to ROI
S19k, each TH brings you 6 cents, costs you 3.3 cents, profit 2.7 cents 780 days to ROI

you have 12 cents per kWh.....
S21 5 years to ROI
S19k is losing money the moment you plug it in

Halving in less than 200 days, see how muddy the waters are?

Unfortunately, the electricity cost is not cheap here. Electricity cost depends on the usage of Electricity. So, if I run ASIC miners, I will likely use a lot of energy, and the price of Electricity will increase to $0.15 where I live. Thanks for the info, by the way. Now, I understand that mining is too profitable for those with cheap Electricity.


Unfortunately, Kaspa mining won't remain this profitable due to its block reward-reducing system and the number of miners adding to the network every day. The block reward halves once every year and it is reduced every month.

Kaspa mining is on the rise right now but it is hard to get their asic. I found one or two in my home country but it cost almost twice  I think because everyone has an eye on this product and also bitmain is making it too.

Which ASIC miner too choose for Bitcoin Mining? according to the asicminervalue.com like you have said for now the efficient miner is S21 Hyd. but just look at their site their not gonna make the product until 2024

Model   S21 Hyd.
Algorithm | Cryptocurrency   SHA256 | BTC/BCH/BSV
Hashrate, TH/s(1-1)   335
Power on wall @35°C(1-2), Watt(1-1)   5360
Power efficiency on wall @35°C(1-2), J/TH(1-1)   16.0

Power efficiency on wall is low but you need to consider the watt for the radiator too

https://minerstat.com/coin/BTC
You can use this website

$0.31 a day after electricty is obviously caculated using the electricity price of 12c/kw, try put 0.06 $/kw in the box at the top of the page, most mining companies or hosted miners will be paying that or even less.

Whats interesting is the KS miners didn't scale very well to lower electricty costs, I think the top one only went up by $3 a day, wheras the BTC miners were very sensitive to it. The S19 XP Hyd for example going from $0.83 to $8.56 per day.

That's just a blatant lie, lol.

I mean every scammer can claim that or nah? Where is the proof of that? The statement is probably trying to appear legit despite a poorly designed website.
Funny, they are talking about evidence and that moderators verified it. Did you even check the reddit post? It was written by a normal user and even the reactions there are clear: https://iceriver.cn.com/ is FAKE!

There are enough references on the web which clearly proofs that the .io domain is the legit one. Its linked on their social medias like Twitter (now called X) aswell.
I also confirmed that I ordered a miner there and received it. Of course u could also claim that I'm lying. But I certainly wouldn't benefit from that as I've never said a word about it here before.



Sorry for that. I didnt notice that at the beginning.

I am aware of Whattomine and Asicminervalue. I was confused by the profitability of Bitcoin ASIC miners as the current highest profitable miner is Bitmain Antminer S19 XP Hyd (255Th), which gives $0.31/day after the Electricity cost. I was confused because the profitability is too low compared to other miners like Iceriver which mines Kaspa.

About Iceriver domain, look what https://iceriver.cn.com/ says about the io domain.

I am aware of this website which I also wrote in my original post.


Please check the response above. https://iceriver.cn.com/ says they are official and the io domain is not in their control anymore.