Just Spent $10,000 on a Bitcoin Mining Rig.. Wish Me Luck!

Sammm

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Can anybody tell me what is mining? i am also want to start but i dont know how?
 

SMMnet

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Electrician came today and wanted to charge me $900 to rewire everything. The guy must be smoking something.

It will delay a few days before I get up and running but I will wire everything myself.

Will keep you guys posted
 

SMMnet

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Good luck pal! :)
Just quick questions, why would you need a warehouse for only 10k$ rig? It can be running in your basement.
$10k was just the initial investment to get started. The warehouse is for scaling the miners to fit a total of 27 machines.

Also, the amount of heat these machines produce is insane. The warehouse not only helps with ventilation when I drill holes in the walls and connect with duct vents to vent the heat out, but also the sound. Each machine sounds like a vacuum cleaner and I would go insane if I had 27 vacuum cleaners in my house running 24/7
 

k2h2

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What are thr maintenance costs like?
 

FutureMan

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need 500k to 1 mill to make mining make sense money wise.... anything less is a waste
 

untrilogy999

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To be honest, I would definitely go for a GPU mining rig for Ethereum, but bitcoin isn't bad either, but I think the ROI with the GPU rig for Ethereum will be much faster. How much are you mining per day, and what's the electricity cost?
 

SMMnet

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You already spent a lot. Hope you make good returns.
Same!
What are thr maintenance costs like?
Cost for electric is $0.06/kWh

Cost will be aroudn $3.50/day... I will eventually use my returns to re-invest into solar panels
need 500k to 1 mill to make mining make sense money wise.... anything less is a waste
Not true
To be honest, I would definitely go for a GPU mining rig for Ethereum, but bitcoin isn't bad either, but I think the ROI with the GPU rig for Ethereum will be much faster. How much are you mining per day, and what's the electricity cost?
This was an option initially, but with GPU mining and ETH you run a risk because eventually it will no longer be able to GPU mine... Its coming soon
Howe much you paying in rent for the space ?
$0

The farm is on my land
 

Raccon

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Thank you for becoming a part of the crypto community and contributing to the ecosystem :)
 

ozdude68

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Very interested to know your results. Incidently how much per KW/h is your rate? It is basically impossible to do it profitably in Australia.
 

SMMnet

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**UPDATE**

We have all the wires ran for 6 junction boxes. (This will run 6 units at 20 AMPS each unit) scaling the profit to $240/day (including $0.06 kWh costs)

eQMPaW3.png



Very interested to know your results. Incidently how much per KW/h is your rate? It is basically impossible to do it profitably in Australia.
$0.06/kWh and my profits are in the image above.
 
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