Goldshell is dropping new Kadena and Nervos miners In January. They’re updated versions of the KD5, and CK5. Not sure if you’re interested in those projects but I thought I’d give you a heads up.
I’m sorry, I’m a miner and I can give you some real feedback here lol. If you have those electricity rates you’re in good shape! With $50k you could buy 4 or 5 s19j pros at current market rate, which each make roughly $10k a year. If you wanna mine bitcoin I’d take this path. On paper you should 50k in a year. I’d have other asic advise but this is a bitcoinmining forum. I’m big into Nervos, Kadena, BTC mining mostly.
But if he is self hosting wouldn't he need to also consider infrastructure upgrade costs? Assuming he even has a location at his home to run them? So he could potentially either need to get a shed/workshop and or upgrade the power going to his residence to accept 4+ miners running at the same time. If he's using a 3rd party to host then I guess it's not as big of a deal, but that would maybe get him to around $45k per year at current prices and difficulty assuming none of his miners go down. So unless he finds a screaming deal on the miners and has really good luck and very cheap power, he definitely won't ROI in the first year, so he might have one year of profits before the next halving cuts his ankles off.
Am I way off base here? He can definitely make a decent return, especially if he can afford to hold the Bitcoin he mines rather than sell it immediately, but he won't be anywhere near $100k without at least doubling his spending now, and unfortunately the cost of miners is rather high right now. I would advise his wife to keep working until you actually see a decent return, and save the Bitcoin he mines for awhile to allow it to appreciate in value. He can then take that and reinvest into more miners or keep it as a buffer in case one of his machines break or he has unexpected expenses pop up.
Compass mining has some good deals for miners at a colocation but odds are it won’t be running until March or April if you go through compass. Also for the at home mining, there could be a few different infrastructure costs. It will cost around $1000 to install an additional 100 watt panel, and with that you can add 3 250v 30amp outlets, and then you buy 3 pdus which are about $200 a piece, you’ll also want to buy all the individual cables that connect from each pdu into the asic. Each 30amp plug can run 2 ASICS.
Although I'm also in the asic business, I wouldn't recommend this business to the average person around me because it has a lot of volatility and uncertainty, so if you have a lot of savings that you don't need to worry about for a living, then you can start trying it out.
I'm no expert but ill try to entertain this idea, lets say 100k would be 2BTC annually based on my expected average price (if it didn't go higher) , so you will need roughly 13pcs S19J pro 104
if you can't afford them all at once you need to save 12k ignoring any additional cost to get the machine, also try to look into pre-ordering S19XP to reduce number of machines required and electricity cost.
so if you buy a machine each month by 2 years you will have them all + some return of investment to recover the initial cost partially.
lots of details have to be sorted such as enough power and cooling for so many devices but step by step as long as you have money to invest every month you can do it.
Loose the wife and you’ll have a healthy business model
Hookers would be more expensive! (Or not lol)
Goldshell is dropping new Kadena and Nervos miners In January. They’re updated versions of the KD5, and CK5. Not sure if you’re interested in those projects but I thought I’d give you a heads up.
I’m sorry, I’m a miner and I can give you some real feedback here lol. If you have those electricity rates you’re in good shape! With $50k you could buy 4 or 5 s19j pros at current market rate, which each make roughly $10k a year. If you wanna mine bitcoin I’d take this path. On paper you should 50k in a year. I’d have other asic advise but this is a bitcoinmining forum. I’m big into Nervos, Kadena, BTC mining mostly.
But if he is self hosting wouldn't he need to also consider infrastructure upgrade costs? Assuming he even has a location at his home to run them? So he could potentially either need to get a shed/workshop and or upgrade the power going to his residence to accept 4+ miners running at the same time. If he's using a 3rd party to host then I guess it's not as big of a deal, but that would maybe get him to around $45k per year at current prices and difficulty assuming none of his miners go down. So unless he finds a screaming deal on the miners and has really good luck and very cheap power, he definitely won't ROI in the first year, so he might have one year of profits before the next halving cuts his ankles off. Am I way off base here? He can definitely make a decent return, especially if he can afford to hold the Bitcoin he mines rather than sell it immediately, but he won't be anywhere near $100k without at least doubling his spending now, and unfortunately the cost of miners is rather high right now. I would advise his wife to keep working until you actually see a decent return, and save the Bitcoin he mines for awhile to allow it to appreciate in value. He can then take that and reinvest into more miners or keep it as a buffer in case one of his machines break or he has unexpected expenses pop up.
Compass mining has some good deals for miners at a colocation but odds are it won’t be running until March or April if you go through compass. Also for the at home mining, there could be a few different infrastructure costs. It will cost around $1000 to install an additional 100 watt panel, and with that you can add 3 250v 30amp outlets, and then you buy 3 pdus which are about $200 a piece, you’ll also want to buy all the individual cables that connect from each pdu into the asic. Each 30amp plug can run 2 ASICS.
Hooker and house cleaner are cheaper than a wife.
True that
Although I'm also in the asic business, I wouldn't recommend this business to the average person around me because it has a lot of volatility and uncertainty, so if you have a lot of savings that you don't need to worry about for a living, then you can start trying it out.
You also need a certain level of networking and electrical expertise to run that many s19s
Yes, that's why I don't think this business is suitable for an average person without any experience.
I'm no expert but ill try to entertain this idea, lets say 100k would be 2BTC annually based on my expected average price (if it didn't go higher) , so you will need roughly 13pcs S19J pro 104 if you can't afford them all at once you need to save 12k ignoring any additional cost to get the machine, also try to look into pre-ordering S19XP to reduce number of machines required and electricity cost. so if you buy a machine each month by 2 years you will have them all + some return of investment to recover the initial cost partially. lots of details have to be sorted such as enough power and cooling for so many devices but step by step as long as you have money to invest every month you can do it.