Mining project

Hello BHW,

I have about 3-5k to invest into mining and wanted some help from experts already mining.

What would you recommend?
Best spot to store the equipment ? Open close room?

mining on your own or join pools .. anything else you may suggest is appreciated.

Thx

Slatkis said:

Hello BHW,

I have about 3-5k to invest into mining and wanted some help from experts already mining.

What would you recommend?
Best spot to store the equipment ? Open close room?

mining on your own or join pools .. anything else you may suggest is appreciated.

Thx

Click to expand...

If your planning on a big gig, make sure to account for power costs as well as keeping a well insulated environment.. For our current rig, we spent $1.5k on the rig and it costs roughly $700/month in power costs to keep everything operating at a healthy rate. Not sure if I am an expert, more then likely not. But that is our costs

https://www.newsbtc.com/2019/05/04/...-to-become-the-biggest-bitcoin-mining-market/

Thinking to take advantage of this as im from QC.

SMMnet said:

If your planning on a big gig, make sure to account for power costs as well as keeping a well insulated environment.. For our current rig, we spent $1.5k on the rig and it costs roughly $700/month in power costs to keep everything operating at a healthy rate. Not sure if I am an expert, more then likely not. But that is our costs

Click to expand...

If not personal, how long does it take you to pay back your investment before you get into profits?

Slatkis said:

If not personal, how long does it take you to pay back your investment before you get into profits?

Click to expand...

Oh boy, its rough... We were mining ETH and BARELY breaking profit just because of our monthly fees to keep the rig going. We lost on some months just because the power bill was so high...

I'm sure our rig wasn't optimized the best, we're a bunch of young bucks trying to mine some Token

interested to follow this discussion

Slatkis said:

Hello BHW,

I have about 3-5k to invest into mining and wanted some help from experts already mining.

What would you recommend?
Best spot to store the equipment ? Open close room?

mining on your own or join pools .. anything else you may suggest is appreciated.

Thx

Click to expand...

First off I recommend reading up on mining. What kind of mining are you looking at?
How technical are you?
How much power do you have access to?
How close are neighbors?
Able to cool and ventilate miner?

These are just some questions and the answers very greatly depending on the miner.

Joining pool is normally best.
Depending on miner and setup open or closed room can work.

The very first thing you need to do is use a online mining calculator to see if the cost of mining is even worth doing with your electricity cost.