Inside a Chinese Bitcoin Mine

Discussion in 'CryptoCurrency' started by M4XW3LL, Aug 20, 2014.

  1. M4XW3LL

    M4XW3LL Senior Member

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  2. Reyone

    Reyone Elite Member

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    Awesome post man; I could have never pictured it like that :)

    So, spending about $80k/pcm, how much are they generating?
     
  3. rabbitking

    rabbitking Jr. VIP Jr. VIP

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    What can I say this is freaking awesome! Not meaning to put your post down and a tip sounds nice
    but I do believe it's against the forum rules mate. :)

    -RK
     
  4. ardley216

    ardley216 Elite Member

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    YEah I wonder how much they are generating.. cos thats insane!!! Im sure with that hardware there are more profitable things you can do
     
  5. M4XW3LL

    M4XW3LL Senior Member

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    Thanks for the warning mate, but I don't understand why would be this against the forum rules?
     
  6. natnapil

    natnapil Newbie

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    wow great read! thank you!!! this is awesome.
     
  7. Apricot

    Apricot Administrator Staff Member

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    You would think they would chuck the old machines on eBay or something.

    (Moved to Cryptocurrency section)
     
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  8. prab1996

    prab1996 Elite Member

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    Move it to btc forum. This is lounge.
    - = -
     
  9. M4XW3LL

    M4XW3LL Senior Member

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    Mr Apricot already moved it
     
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  10. rabbitking

    rabbitking Jr. VIP Jr. VIP

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    Nice try! After WizGizmo tricking me into thinking there's a new section I will not be duped again. :p
     
  11. Trepanated

    Trepanated Supreme Member

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    Asking for 'thanks' for a post is frowned upon.

    Why do you think asking for money is OK?

    Although your post is interesting, if everyone started asking for donations every time they posted something interesting, the place would be a mess.
     
  12. M4XW3LL

    M4XW3LL Senior Member

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    Oh I see, that's not mine lol. It was in the article, if you open the link article you can see it.
     
  13. rabbitking

    rabbitking Jr. VIP Jr. VIP

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    If you can still edit the original post I would take that out before you get flamed for it bud. :)

    -RK
     
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  14. prab1996

    prab1996 Elite Member

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    I was on mobile. (and it took me 10 mins to read)

    After doing some calculations i found that they are mining about 12-15 bitcoins per day and about 470 bitcoins per month,So they are earning decent money even after paying $60k for electricity.
    -=-
     
  15. Trepanated

    Trepanated Supreme Member

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    I calculated around 360 BC per month, but that's still a profit of well over $100K per month after power costs.

    Even after the difficulty increases in a couple of weeks they will still be clearing almost $100K.

    Fair play to them - you have to speculate to accumulate, as they say.
     
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  16. ma57er

    ma57er Newbie

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    Watch the video with biggest mining operation in US:

    youtube. com/watch?v=5CjldZLXiAU - fix the URL, because i cant post direct links :)

    In the video you can hear what bucks they makes "About 8 millions month" :cool:
     
  17. jak19

    jak19 Elite Member

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    what sort of hardware costs are we looking at?
     
  18. Commoner

    Commoner Senior Member

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    Hi FisnikS,

    Thank-you, thank you very much for such an eye opener article! I was utterly impressed by the sheer amount of hardware as the risks are too much for me to handle! In fact, kudos to the article writer, traveler as well as the business owner(s) willing to share these profitable pie.

    Warmest Regards,
    Commoner
     
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  19. M4XW3LL

    M4XW3LL Senior Member

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    You're welcome mate. I always try to share with the community things that are worth reading :)
     
  20. NameHere

    NameHere Newbie

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    Algorithms that give you a virtual representation of value. Back To The Future couldn't have ever imagined somethinglike this.