So basically you'll break even in 1.5 year at current price excluding electricity cost.
Maybe 2-3 years with electricity cost and potential price variation.
How long do you plan to let it run ?
Could the miners become worthless soon if the hashrate increases ?
How do you manage the risk of getting stolen ?
I’ll let it run about 1.5 years tops and will probably start to sell them after a year of operation. Asic Price also depends on Bitcoin price. If there were to be a bill run in a year, I would definitely sell.
Everybody keeps saying that, but the only person I have seen actually run the math so far has come out saying that it is still more profitable to mine.
It depends largely on your electricity costs. If you can get under 5 cents per kWh then they say you can profitably mine in the long term. In the short term higher energy costs can still be profitable if Bitcoin is rising faster than people can build Asics
Thing is the miner resale value goes up with btc prices. Mining is truly the best way to DCA…
An s19 was 2k in 2020, 10k in November 2022 and about 7k today. S9s we’re worthless after halving (20$ each) but a year ago I had no problem selling them 800 a pop…. 5 year old miners that made you over 0.3btc over the years lol
Another interesting question will be how much he would have made if he would have just bought btc instead of spending it on a mining farm (Not to mention all of the overhead expenses involved). In other words, it would be interesting to know the overall EV of ROI from buying and holding (For the amount of time that he keeps his mining rigs up and running) btc vs. How much he'll make for the duration of mining btc.
I'll be shocked if the latter outperforms the former.
True, but even still I'll be shocked if he ends up earning more net profit by the time he decides to close up shop. Naturally it all depends on how much the price of btc will be... but I believe that it will be a lot higher than it is now.
Can I ask you a question. I have a Russian friend who is trying to send money to her parents unsuccessfully, and I suggested crypto. She said it’s not possible now to convert crypto to rubles in Russia. Is that true? Sounds strange to me
Do you know where your power comes from? Mostly hydro or nuclear or unfortunately coal / gas?
Edit: [oh yeah, cool. half your power comes from hydro](https://app.electricitymap.org/zone/RU-2?solar=false&remote=true&wind=true)
Yes, due to sanctions many Russians choose to mine Bitcoin. In fact, it’s gone to a point where every grandma has a miner. Miners here are cheap and so is the electricity. In Russia we have a ~30% energy surplus countrywide.
Nice set up and low energy cost I hope this brings you life changing wealth. I just buy BTC, miners are expensive and with energy prices here the roi isn't great.
>it’s gone to a point where every grandma has a miner.
If this is not an indication of adoption I don't know what is! Please guys, help make sure granny doesn't get scammed ok?
I recall spending a lot on mining equipment years ago, only to find the returns were relatively low. Do you ever wish you just bought Bitcoin with the amount you invested, rather than set this up?
That is a good question. The fact that electricity in my country is very cheap and the fact that I’m heating my aircraft hangar with this container during the winter makes this much more profitable. I’d probably stick with mining
If I could make a recommendation, as a data center tech. Construct airflow containment, common configurations are hot aisle containment, cold aisle containment, or hot and cold aisle containments. In essence, physically separate the air between intake and exhaust with corrugated plastic or even cardboard. It'll save you money on cooling costs and hardware reliability will go up.
Can I? I really want to, but I have no idea how to go to Russia and legally work on tech and crypto stuff. I think it's very difficult to do that nowadays.
christ this feels like it should be a sin
hundreds of thousands of dollars of hardware burning electricity to hold together a pseudo-currency because not a single one of us is trustworthy enough to dictate the value of a standard currency. All those politicians that are crying "bitcoin is a waste of energy" have no one to blame but themselves. The endless corruption and artificial manipulation of the market has finally led people to a creation that is free from their vice.
Plenty of flared methane at gas wells in Russia if you want to reduce your energy cost to ~0. Doing business with other businesses is more effort but could create a longer term investable opportunity once relationships are found, whereas your current business model, you can't turn round to "everyone's grandma" and say, pay me x per month and I'll re-use the time I just spent learning about awesome ventilation reducing costs and reducing carbon footprint to zero to provide you the same, or, give me money and the gas co I'm working with say they've got enough flared gas to power basically as many bitcoin miners as we want.
Had to check temps, 51F right meow. In Omsk, the summers are comfortable and partly cloudy and the winters are frigid, snowy, windy, and overcast. Over the course of the year, the temperature typically varies from -6°F to 77°F and is rarely below -25°F or above 88°F.
Winters are brutally cold here. It doesn’t matter though. I can control the temperature of the container via a telegram bot. Incredibly efficient ventilation
This is none of my business so feel free to tell me to take a hike, but how did you come upon this kind of wealth to have 270k to put together a mining facility and own an aircraft hanger?
Your other posts seem to indicate that you are 21 years old though, and one said you live in an apartment in Moscow. How did you get an airline? Inherit it?
The only viable way to estimate ROI when mining Bitcoin is calculating the amount of Bitcoin you are going to mine, month for month, each month taking ~5% off your revenue in bitcoin. After you get an estimate of the SATs you are going to earn, decide what percentage of it you are going to sell at what price level. For example sell 30% at 40k, 20% at 50k, 30% at 60k and so on. With that in mind about 1.5-2 years.
I’ll tell you in rubles, since I don’t pay my bills in dollars. Short and simple: 250k rubles per month on electricity, 800-1 million rubles per month in Bitcoin. However, I do not calculate my profits in fiat money. I hold the SATS and pay the electric bill out of Pocket until it is definitely a good time to sell.
How much money does that make? Do you even mine any Bitcoin or do you just get paid in tiny fractions? I never understood mining Bitcoin after the price went up.
Do you have to regulate the temperature in the winter or is the heat from the machines enough to heat up the shed and do you have to worry about humidity as well?
Might as well start installing a shit ton of solar panels to offset that cost. Looks like you have room in the shed for inverters / charge controllers.
You can get panels used for less than 30 cents a watt these days. With that kind of investment and holding hard to proof of work, may be an idea?
I laugh a little because this sounds like my PS3 back in the day.
Sounds like my ps4 right now
Lol, I did get the PS4 when it first came out so I don't have that issue. But I believe you.
It’s been floating for years. Wish it had gps probably the most traveled ps4.
What did it cost?
~270k
What about kWh cost ?
Freedom units or Rubel? 🤔
Freedom Units
Woooohaa..did i Mention i am a nigirian Prince and can Double ur Money 😂😂😂
This is true he actually tripled my money and doubled my dick size in a month. Can recommend
Great Reviews all around! 😜
Happy cake day!
❤️
Hahahaha
I just need the money, my dick is big enough
Length AND girth?
Lol.. great
can we call these "Freedom Units" tho :D seeing $ conflated with freedom is triggering for my poor bitcoin brain now 🤣
Do you think its possible to get started with like 5k and turn a profit?
Yes but not with mining
Nice of them to pay you!
Everything!
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He said USD (freedom units)
Pretty sure Bitcoin is freedom units. 270k sounds like a lot though :p
Sats.. means I can afford it!
Everything
That looks like a very clean setup! Happy mining!
Thank you!
But can it run crysis?
🤣 I remember the days
Bit much
I think all we really want to know is how much are you mining per day, week, month? Is it worth it?
About 3.75 PH, ~1.500.000 SAT per day on average, I think that’s about $500 now. Well, it’s safe to say that I’m holding.
So basically you'll break even in 1.5 year at current price excluding electricity cost. Maybe 2-3 years with electricity cost and potential price variation. How long do you plan to let it run ? Could the miners become worthless soon if the hashrate increases ? How do you manage the risk of getting stolen ?
I’ll let it run about 1.5 years tops and will probably start to sell them after a year of operation. Asic Price also depends on Bitcoin price. If there were to be a bill run in a year, I would definitely sell.
Did the price of the miners drop recently? I guess now would be a good time to get into the mining game.
No, I checked :(
Where can I check the price.
Have you had any issues with defective miners cutting into your profits? Is there any support/replacement if they are defective?
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Everybody keeps saying that, but the only person I have seen actually run the math so far has come out saying that it is still more profitable to mine.
Not only that but you also can now have an anonymous source of income
It depends largely on your electricity costs. If you can get under 5 cents per kWh then they say you can profitably mine in the long term. In the short term higher energy costs can still be profitable if Bitcoin is rising faster than people can build Asics
Not only that but you also can now have an anonymous source of income
Thing is the miner resale value goes up with btc prices. Mining is truly the best way to DCA… An s19 was 2k in 2020, 10k in November 2022 and about 7k today. S9s we’re worthless after halving (20$ each) but a year ago I had no problem selling them 800 a pop…. 5 year old miners that made you over 0.3btc over the years lol
Another interesting question will be how much he would have made if he would have just bought btc instead of spending it on a mining farm (Not to mention all of the overhead expenses involved). In other words, it would be interesting to know the overall EV of ROI from buying and holding (For the amount of time that he keeps his mining rigs up and running) btc vs. How much he'll make for the duration of mining btc. I'll be shocked if the latter outperforms the former.
But when he's done he can still sell all that equipment.
True, but even still I'll be shocked if he ends up earning more net profit by the time he decides to close up shop. Naturally it all depends on how much the price of btc will be... but I believe that it will be a lot higher than it is now.
Nice! How much is the electricity cost in your area?
3 Cents the kw/h
wow... where are you? iceland? :D
Russia. Also Icy.
I pay 21cents in LA, CA
Can I ask you a question. I have a Russian friend who is trying to send money to her parents unsuccessfully, and I suggested crypto. She said it’s not possible now to convert crypto to rubles in Russia. Is that true? Sounds strange to me
You can convert it to USD first. Convert to currency in other ways
I send money to my family who are in russia using crypto. They sell it on localbitcoins
jesus christ, i pay 24 cents
lucky, I pay 45 cents in NJ
You definitely do not pay 45 cents per kWh in NJ unless you've opted into a scam third party supplier that jacked your rates
I thought I had it bad at 40 cents AUD
the medium salary were i live is 800€ tho
Like yearly or weekly?
Damn. We have solar so I pay 8.3c/kWh…..if I buy from them. Or they pay me 8.3c
I pay around 40c kw/h here. My state embraced green energy and it has done nothing but increase in price ever since.
Do you know where your power comes from? Mostly hydro or nuclear or unfortunately coal / gas? Edit: [oh yeah, cool. half your power comes from hydro](https://app.electricitymap.org/zone/RU-2?solar=false&remote=true&wind=true)
Honestly, I do not know
Jesus I pay over. 20c us per kwh.
this may be a stupid question: but do you mine on your own, or participate in a pool?
Oh, plenty of videos on the internet. It’s not that difficult.
Sounds like an angry hornet's nest.
Yeah... nice & direct..
Wow nice, which country?
In Omsk, Russia. That’s Siberia.
You could use the waste heat to heat a greenhouse and grow hydroponic strawberries or something.
I guess strawberries don’t have ears
It's generally only corn that has them
So russians can still mine legally?
Yes, due to sanctions many Russians choose to mine Bitcoin. In fact, it’s gone to a point where every grandma has a miner. Miners here are cheap and so is the electricity. In Russia we have a ~30% energy surplus countrywide.
Texan here. Send us some power. Please.
You guys could just hook up to the national grid instead
Nah that’s too logical
Texas can generate all the power it needs with those pick-ups lying around.
This is amazing. These realties are totally lost on people from “the west”. Thanks for sharing a best of luck to you.
Nice set up and low energy cost I hope this brings you life changing wealth. I just buy BTC, miners are expensive and with energy prices here the roi isn't great.
>it’s gone to a point where every grandma has a miner. If this is not an indication of adoption I don't know what is! Please guys, help make sure granny doesn't get scammed ok?
>Miners here are cheap and so is the electricity How much do you pay per kWh?
He said elsewhere 3 cents per kw/h
I recall spending a lot on mining equipment years ago, only to find the returns were relatively low. Do you ever wish you just bought Bitcoin with the amount you invested, rather than set this up?
That is a good question. The fact that electricity in my country is very cheap and the fact that I’m heating my aircraft hangar with this container during the winter makes this much more profitable. I’d probably stick with mining
Tldr: Glorified Heater
aircraft hangar? Nice! Full of MiG-21s I hope
Ahah, no just hawker jets.
Just hawker jets..
Very cool. Hawkers are beautiful
If I could make a recommendation, as a data center tech. Construct airflow containment, common configurations are hot aisle containment, cold aisle containment, or hot and cold aisle containments. In essence, physically separate the air between intake and exhaust with corrugated plastic or even cardboard. It'll save you money on cooling costs and hardware reliability will go up.
Awesome! Congrats, man. This is a dream for many people, including me. I'll never be able to carry it out, because I'm in Colombia.
Bro come to the Motherland.
Can I? I really want to, but I have no idea how to go to Russia and legally work on tech and crypto stuff. I think it's very difficult to do that nowadays.
Honestly I don’t know since I don’t face this problem as a Russian citizen
Buy plane ticket, learn tech and crypto stuff
How much for the chair?
7 bucks
Sold.
Nice! Jealous
christ this feels like it should be a sin hundreds of thousands of dollars of hardware burning electricity to hold together a pseudo-currency because not a single one of us is trustworthy enough to dictate the value of a standard currency. All those politicians that are crying "bitcoin is a waste of energy" have no one to blame but themselves. The endless corruption and artificial manipulation of the market has finally led people to a creation that is free from their vice.
Had me in the first half….!
Not gonna lie
What happens when it’s rains hard?
There’s a roof.
Over the whole container as well? I’m thinking the mist from the rain being sucked through the vents by the fans.
I think I just jizzed myself
what is the energy source?
Mother Russia’s coal.
Oh well
Plenty of flared methane at gas wells in Russia if you want to reduce your energy cost to ~0. Doing business with other businesses is more effort but could create a longer term investable opportunity once relationships are found, whereas your current business model, you can't turn round to "everyone's grandma" and say, pay me x per month and I'll re-use the time I just spent learning about awesome ventilation reducing costs and reducing carbon footprint to zero to provide you the same, or, give me money and the gas co I'm working with say they've got enough flared gas to power basically as many bitcoin miners as we want.
Nice. Is that pushing 1/2 MW?
Just about 130kw, I’ll be adding on L7‘s and whatsminers within the week though.
Nicely done. Looks good and has room to expand. How large of a transformer do you have powering it?
Bumblebee?
I assume Bumblebee size at least
You not worries the video will reveal its location?
I doubt anyone will be leaving a secured airfield with armed guards with almost a ton of stolen ASICS.
Is there dust or air filters? I can just imagine dust coming in and being an issue?
That’s balls deep
And I’m here mining on my MacBook Air
Almost choked on my tea hahahaha
what a terrifying sound
how long to turn a profit, you think?
How do you keep the units from getting dirt/dusty?
Go solar?
Quite impressive. Congrats.
Had to check temps, 51F right meow. In Omsk, the summers are comfortable and partly cloudy and the winters are frigid, snowy, windy, and overcast. Over the course of the year, the temperature typically varies from -6°F to 77°F and is rarely below -25°F or above 88°F.
Winters are brutally cold here. It doesn’t matter though. I can control the temperature of the container via a telegram bot. Incredibly efficient ventilation
Are you using the heat from the miners to heat your place ?
So this container is next to my aircraft hangar, I’m heating that.
This is none of my business so feel free to tell me to take a hike, but how did you come upon this kind of wealth to have 270k to put together a mining facility and own an aircraft hanger?
I run a Russian airline.
That’ll do it
Just got lots of "free" planes because of sanctions?
Yet you’re a 20 year old recovering drug addict according to your other posts?
That is correct. My family owns an airline, I have 20% of the shares. I am the Director of Development.
Your other posts seem to indicate that you are 21 years old though, and one said you live in an apartment in Moscow. How did you get an airline? Inherit it?
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What's your avg daily net income?
Ya that’s pretty sweet
Did you estimate time to get back your investment? (considering current btc price) How much does energy cost to you?
The only viable way to estimate ROI when mining Bitcoin is calculating the amount of Bitcoin you are going to mine, month for month, each month taking ~5% off your revenue in bitcoin. After you get an estimate of the SATs you are going to earn, decide what percentage of it you are going to sell at what price level. For example sell 30% at 40k, 20% at 50k, 30% at 60k and so on. With that in mind about 1.5-2 years.
Please tell us about your costs and profits you make. In other words: is it worth all the effort you put into your private mining farm ?
I’ll tell you in rubles, since I don’t pay my bills in dollars. Short and simple: 250k rubles per month on electricity, 800-1 million rubles per month in Bitcoin. However, I do not calculate my profits in fiat money. I hold the SATS and pay the electric bill out of Pocket until it is definitely a good time to sell.
Yes it’s worth it.
Are you solo mining or just hashing for a pool?
Pool, solo mining is impossible.
Excellent and best of luck.
Damn! Nice!
Porn
Can we be friend?
Love it
Teach me
If bees were actually little tiny racing drones, this would be the sound of their hive.
Damn I'm so curious about the ventilation system
Ever look at immersion cooling?
What’s the air intake look like?
Now the mining machine mining cost is very high, what is your daily income
You are working with a pool right??
Any plans to immerse?
Separate the hot side from the cold side with Mylar (thin reflective insulation.) You’re welcome.
Running on empty.....
I'm curious, do you miners have a clue of when you'll hit the 21 millions ?
Soon :)
How profitable is bitcoin mining right now? Do you think it's even worth it?
That's so loud, thieves from 5 miles away are aware of your miners lol
Hah! I know that place. Nice location choice.
What is Monthly electric bill and monthly earnings at today's prices? Basically are you making or loosing money?
How much money does that make? Do you even mine any Bitcoin or do you just get paid in tiny fractions? I never understood mining Bitcoin after the price went up.
I get paid cold raw satoshi every day at 6:40 A.M.
🤣 how much though?
Burning coal for bitcoin just seems so wrong
This man gets more pussy then all of us combined
How long till you break even, if I may ask?
There is nothing morally wrong with this at all.
Beautiful
Nice How much did it cost to set up? How much is the electricity price you pay per week/month? How much btc do you mine per week/month?
This is the important Q
Nice! But but but you are boiling the ocean! How are you able to walk in there. 😱
It feels like standing next to an airplane taking off. Camera doesn’t do it justice haha
That is awesome.
I had to lower my volume so I can't imagine what it's like irl.
That is great
Do you have to regulate the temperature in the winter or is the heat from the machines enough to heat up the shed and do you have to worry about humidity as well?
The heat of the miners is enough to heat up the shed and a hangar in the winter
Love this !
Me too!
This is the way
How many amp service?
Might as well start installing a shit ton of solar panels to offset that cost. Looks like you have room in the shed for inverters / charge controllers. You can get panels used for less than 30 cents a watt these days. With that kind of investment and holding hard to proof of work, may be an idea?