Is it worth it to start mining bitcoin in Mexico?

[Vladamir]

So I have a connection in mexico with a $15,000 server sitting unused in a cold room with server racks and hes offering me the chance to bring a server expert i have in and he brings some friends and i Invest some money and we start bitcoin mining.

I have realized I know absolutely nothing about mining bitcoin haha my server expert friend says hes an expert and theres not much to it. I wanted to know if anyone knew if it was profitable I know it all depends on the electricity costs been trying to find out common rates this will be in Mexico would probably run it through a house we buy in a low electricity cost neighborhood, there will probably be some yearly poweroutages so lots of surge protectors necessary.

The rates in Mexico have beent he biggest question mark the electric sector got deregulated a few years back but seems like everyone is confused as to what the rates are you dont know until you actually get your receipt, but i could throw a rough estimate at 0.05 US Dollar per kw...guess the question becomes how much can we mine at that rate and keep beating the electricity cost to make a profit. Any have any helpful literature on this

 

[Panther28]

When you say a server, do you mean a normal PC style server?

Also, you can calculate electricity costs here.
https://www.cryptocompare.com/minin...it=TH/s&PowerConsumption=1600&CostPerkWh=0.13

 

[roman375]

So I have a connection in mexico with a $15,000 server sitting unused in a cold room with server racks and hes offering me the chance to bring a server expert i have in and he brings some friends and i Invest some money and we start bitcoin mining.

I have realized I know absolutely nothing about mining bitcoin haha my server expert friend says hes an expert and theres not much to it. I wanted to know if anyone knew if it was profitable I know it all depends on the electricity costs been trying to find out common rates this will be in Mexico would probably run it through a house we buy in a low electricity cost neighborhood, there will probably be some yearly poweroutages so lots of surge protectors necessary.

The rates in Mexico have beent he biggest question mark the electric sector got deregulated a few years back but seems like everyone is confused as to what the rates are you dont know until you actually get your receipt, but i could throw a rough estimate at 0.05 US Dollar per kw...guess the question becomes how much can we mine at that rate and keep beating the electricity cost to make a profit. Any have any helpful literature on this

Depends on the hardware. Nowadays it is only really profitable to mine BTC with ASIC miners specifically designed for mining BTC and other tokens that are not ASIC-resistant. Most other hardware is largely a waste of time if you are looking for substantial profits.

 

[Vladamir]

When you say a server, do you mean a normal PC style server?

Also, you can calculate electricity costs here.
https://www.cryptocompare.com/mining/calculator/btc?HashingPower=13.5&HashingUnit=TH/s&PowerConsumption=1600&CostPerkWh=0.13

Going to ask him for its credentials

Depends on the hardware. Nowadays it is only really profitable to mine BTC with ASIC miners specifically designed for mining BTC and other tokens that are not ASIC-resistant. Most other hardware is largely a waste of time if you are looking for substantial profits.

Thanks Roman this is helpful thinking of customizing and re-purposing it

 

[NxtGenLedz]

Honestly unless you can get absolutely free power it's not worth it. A lot of mining is done in china etc where power is free.

 

[Vladamir]

Honestly unless you can get absolutely free power it's not worth it. A lot of mining is done in china etc where power is free.

I may get a bit of a subsidy but def not free most the things im reading and hearing are pointing me in the direction of its not worth it

 

[virtualpurity]

If its a normal server than its probably worthless. Maybe mining some alt coins but again i dont see any profit in that.

If its a ASIC miner than than again you will need to invest in a couple of them to even start getting a decent hash rate.

With today`s difficulty a good miner will get your investment return in aprox 1 year before starting to make any profits, not considering the price fluctuation.

If the price drops than your time to get your investment back increases.

I would do some research if i were you before jumping on it..


Just my 2cents.. Cheers.

 

[Doozle22]

not much point in doing that, the chinese have control of the mining, and it's hard to compete against their mining farms

 

[Jack@]

You want to know if it is profitable right? Go to youtube and put chinese bitcoin farms in the search bar and you will see who your competitors are.

 

[RankBoss]

use devices that are specially designed for mining. Check latest ASIC version. Couple of years ago it was easy to mine them but now it's a completely different story if i knew it before i invested in them.

 

[b1step-ahead]

You want to know if it is profitable right? Go to youtube and put chinese bitcoin farms in the search bar and you will see who your competitors are.

That's no joke. I don't know what the odds of getting a business loan to lease a cheap wherehouse with solar panels for juice and stuff a bunch of servers to make some money? But if you ran a couple of sercers at your house and you have solar , would it be worth it?

 

[Jack@]

That's no joke. I don't know what the odds of getting a business loan to lease a cheap wherehouse with solar panels for juice and stuff a bunch of servers to make some money? But if you ran a couple of sercers at your house and you have solar , would it be worth it?

I dont know my man, Im not a mining expert at all. One of the reasons I dont look into mining at all are those chinese farms... I mean how can you even com[ete with that.
For your questions I think you wil have to ask someone else wih a lot of mining experience, although I would never get a loan to start mining coins.

 

[b1step-ahead]

I dont know my man, Im not a mining expert at all. One of the reasons I dont look into mining at all are those chinese farms... I mean how can you even com[ete with that.
For your questions I think you wil have to ask someone else wih a lot of mining experience, although I would never get a loan to start mining coins.

It was just a thought, kind of a set and forget it thing.

 

[cooooookies]

15K server... what server is that ?

It depends on the coin if CPU-mining makes sense. E.g. monero (using cryptonight algorithm) has no ASIC-miner available and GPU-miners are not that much faster as their CPU counterpart.

I am mining it on my underemployed dedicated instances (in terms of CPU usage, certainly).

Check this to make your calculations, if mining makes sense for you:
https://www.cryptocompare.com/minin...shingUnit=H/s&PowerConsumption=0&CostPerkWh=0

I have no idea what a single 15K server might look like, but the money you might earn with it will most probably still be pocket money only.

Here are CPU and GPU benchmarks showing up the hashing power of certain systems (will you find your system ? )
http://monerobenchmarks.info/

Cheers

So I have a connection in mexico with a $15,000 server sitting unused in a cold room with server racks and hes offering me the chance to bring a server expert i have in and he brings some friends and i Invest some money and we start bitcoin mining.

I have realized I know absolutely nothing about mining bitcoin haha my server expert friend says hes an expert and theres not much to it. I wanted to know if anyone knew if it was profitable I know it all depends on the electricity costs been trying to find out common rates this will be in Mexico would probably run it through a house we buy in a low electricity cost neighborhood, there will probably be some yearly poweroutages so lots of surge protectors necessary.

The rates in Mexico have beent he biggest question mark the electric sector got deregulated a few years back but seems like everyone is confused as to what the rates are you dont know until you actually get your receipt, but i could throw a rough estimate at 0.05 US Dollar per kw...guess the question becomes how much can we mine at that rate and keep beating the electricity cost to make a profit. Any have any helpful literature on this