Worth building a farm at 0.047 usd/kwh

TheMimic1

member

Activity: 252

Merit: 13

Quote from: FloppyPurpleGherkin on March 02, 2021, 05:37:43 PM

I built 12 x 580 8gb rig in Oct 2020, It cost around $2800-3000

Spending $6k on that setup right now, is very very risky. Even with your cheap electric rate.

It's not a wise plan at all, I used 2000$ to buy 4x gpu and I'm already regretting why I did that, I killed one while installing and now I have three gpus left, I've only made 220$ back, see how far I still have to go before even making 50% ROI back? The best plan is buying gpus @ cheaper rate

fmz89

legendary

Activity: 1764

Merit: 1002

Quote from: xeravy on March 02, 2021, 05:34:27 PM

So I live in Ukraine, and I was thinking of building a farm here. Electricity here is super cheap at around 0.047usd/kwh. Also 12x rx580 8gb farm would cost me around 6000usd. Now calculating profitability I would be able to make 900usd a month and return my initial investment in 7 months. This sounds great with everything suitable and the fact that Ukraine is super cold U don't even need fans to cool ur rig. But am worried about the upcoming eip-1559 update and the current state of ethereum and its high gas fees. Do you guys think I could profit from this or I should stay away from mining at the moment?.

at your rate even at the worst bear market you still profitable, me mine at 0.11 and sometimes of during bear market, so basically at current situation gpu price already inflated 2x and many gpus already out of stock, my advice wait for next 3 month after mining continue down, some miner will sell their gear for cheap, then you can enter the market

FloppyPurpleGherkin

jr. member

Activity: 306

Merit: 2

I built 12 x 580 8gb rig in Oct 2020, It cost around $2800-3000

Spending $6k on that setup right now, is very very risky. Even with your cheap electric rate.

xeravy

newbie

Activity: 8

Merit: 0

So I live in Ukraine, and I was thinking of building a farm here. Electricity here is super cheap at around 0.047usd/kwh. Also 12x rx580 8gb farm would cost me around 6000usd. Now calculating profitability I would be able to make 900usd a month and return my initial investment in 7 months. This sounds great with everything suitable and the fact that Ukraine is super cold U don't even need fans to cool ur rig. But am worried about the upcoming eip-1559 update and the current state of ethereum and its high gas fees. Do you guys think I could profit from this or I should stay away from mining at the moment?.

Topic: Worth building a farm at 0.047 usd/kwh (Read 101 times)