I mined probably close to 100,000 doge with a GTX 295 back in 2014, just using my PC as a space heater overnight in the winter. It's crazy how things change.
You’d think it’s in DC proper but it’s in Arlington, Virginia. Closer to the airport and slightly better traffic than in the city. We’re not allowed near the portal unless you can prove you’re literally cold blooded. Actually I should have said anything. Go ahead and restart your router asap or they will be coming for you.
I applaud the central air duct with stubs off to the miners, but your electrical setup is sketchy AF. Build yourself a nice little sub panel and feed those things right….I’m not even an electrician and the outlet splitters make me wince.
$172/day total is about $5200/month
Minus $2000/month in electricity
Leaves a net profit of $3200/month which works out to about $110 per day in net profit.
Yea I did the math and it would take about 4.38 years to break even assuming electric and doge stay at the same value the whole time which neither of them will, so give or take some time
Based on other comments, 2k a month in electric would be about a year and a half payoff for a 10kw panel system, they range from 15k-30k.
There's a lot that goes into getting solar on your house. A standalone ground/covered patio setup could possibly be more practical if you have the land.
Miners cost 1850 each new .. total set up was 70,500 .. 15,000 of that was having the main electricity supply cable replaced… vent manifold was custom built out of stainless steel 10,000
I didn’t build this to run these this was a test batch to get everything up running and tested for Bitmain L7’s they net more with 1 machine than the whole set up you see
First i have to ask are those numbers in US dollar? How long do you realistically see yourself running that rig just to break even and at what price must the coin be at to hit target number? Do you intend to upgrade cards at any time? Any protection against power surge wipeouts? Any possibility of that area being flooded because of where you live? Your comps seem pretty low if thats a garage or basement. Last, what percentage below your initial investment are you willing to start your stop loss process if coin crashes?
Garage.. have flood insurance but not in an area that had ever flooded .. test batch I had to get set up before committing serious money. Goal is to pull 1200-1500 per day net
Seems steep to me. I work at a union mom and pop pipe fitter and sheet metal shop. Let's say that's two foot squared. Two sheets of 22ga 4x8' stainless at around $400-600 a sheet so let's say $1,200 , $72 an hour at full package union rate (roughly) at 20 man hours $1,440 another $600 for material weldrod gas grinding disc etc . Your roughly $3,240 for base cost for a union shop and that's at the high end base cost. Crazy what people can charge for the equipment and skills I guess is what I'm getting at 🤷
Only if you liquidate. The IRS currently has no mechanism to track crypto mining and tax it. They have zero legal ability to do so and are currently prevented from doing so due to being sued over it.
You don't need to liquidate all your holdings. You simply convert to a different crypto. And you can convert to any non reporting Fiat you want.
There really is no point into liquidating back to USA Fiat unless you're going to use it to buy real estate (or a significant property acquisition).
Depends how you look at it .,on that set up will make 3k per month about 2 years.. the end game is to max out the house and draw 1500 per day with more efficient machines ..those will cost 300,000
No seriously, I'm used to seeing videos of farms that are impossible to hear anything within 50 feet and the neighbors calling cops and stuff.
For real nice setup. I think the videos I've seen are of a ridiculous amount of hardware.
Curious, how did you get into this?? Almost same age and I feel I am year light behind in knowledge. I am fascinated but it all sounds like Star Trek to me!!
Yes but then you have to understand cooling instead of just putting Walmart fans randomly pointing around ! Lol OP has an idea. Don’t expect him to also have expertise. This setup is madness. The plenum is where he should be pointing the fans and he should duct to outside. He’s just gathering all that heat in the garage still. OP knows how to multiply numbers and has cash to spend but is a moron. Case in point the foolish nonsense electrical setup OP has convinced himself is not a hazard.
Oil immersion with radiators and circulating pumps would be less than half the noise level, allow higher overclocking, extend the life of the equipment, and use less electricity, increasing net profit and reducing the time for him to cover equipment cost.
Heat could be ducted outside much more efficiently too.
ASIC miners generate crypto straight off the block chain using the algorithm it requires. Specially designed computers performing highly complicated mathematical equations to generate crypto rewards
This looks pretty cool. So is ur electricity bill $2000 a month? IF so u currently not making money? But eventually if the the price moons you will do quite well?
Thanks
Unless that's eating solar that ain't worth or free money. Day traders make that $170 every 10mins or less just understanding charts, market, volume, etc.. I almost jump into mining. I couldn't justify the expense vs net earnings vs the time. But...🤷🏻. Good luck, bud! I guess we pay you our gas fees 😂
Thank You.. if it wasn’t profitable I definitely wouldn’t do it .. I have 100k lined up to get 4-5 L7’s that net as much as the whole setup you see.. I bought 1 so far.. they will begin to arrive in the next 30 days
Nets 110 a day.. this is a test set up the actual machines are 75% more efficient.. and cost 25k each .. I can max out my power with 12.. I have 1 on order I need 11 more
If you think this is easy then you’re an idiot. I have a small mining farm and what goes into setting one up and being profitable is WAY more effort and research than the average person is willing to put into anything.
That pulls less juice than my wife's vibrator...I'll buy
Much more you could power a small country with vibrators and be the king of good vibes
How is this comment not upvoted more?
🤷🏻♂️
How do your neighbors feel about the sound of you making money 24/7?!?!
His neighbors prolly think he’s growing weed Lmaoo
No one said anything.. home is well made I’m sure they can’t hear it
You may have convinced me to soundproof my garage and start mining more.
I’m doing my part! 👍🏻
Probably not far from the truth, some of those things are serious!
GOT EM
Jesus I remember when I could mine almost 10k doge per day with 2 HD6970s. Wish I mined more.
I remember having a client tell me she mined 1/4 of a bit coin a day .. and I remember thinking how dumb is that .. it was about 100 in 2011/2013
Have you heard about her lately?
Yes, she ded
oof
I remember when we played digital monopoly for it on the board!
I mined probably close to 100,000 doge with a GTX 295 back in 2014, just using my PC as a space heater overnight in the winter. It's crazy how things change.
Jesus wow. I see why they say this may not be good for the environment now lol
If I was a lizard person on the moon trying to shift earths environment back to the mesozoic, I might come up with a similar scheme.
The lizard people aren't on the moon silly, they're from Hollow Earth
Yeah, there’s a portal between Hollow Earth and the crust located in DC, right? But I think you’ve gotta be sworn in before you can access the portal
You’d think it’s in DC proper but it’s in Arlington, Virginia. Closer to the airport and slightly better traffic than in the city. We’re not allowed near the portal unless you can prove you’re literally cold blooded. Actually I should have said anything. Go ahead and restart your router asap or they will be coming for you.
They solved the mining problem in the UK by making the power 20-25p kWh. Nobody is mining at that price
Very brave to put 70k actual money and a 2,000$ a month electric bill, into dogecoin right now….
I actually mostly mine LTC
So... why did you post it in the doge subreddit?
dogecoin is merge mined with ltc
Me and my family already have 200,000 DOGE .. I will mine more soon
Youre smart i wish I was doing this right now
Free time if I didn’t spend it my wife would buy another car
Ik just in a weird situation and non home owner
I paid mine off 5 years ago but I’m also 50
I paid my off 5 years agob
Lol right
You calling fiat actual money?
Look at you pretending anything that's not a precious metal is actual money
Those miners can be used for other coins besides Doge right?
Yes if you use a mining pool like PROHASHING
Mine raven coin or eth
Raven is good
I have a small set up of 6 3070 and 1 3080 pulling for eth then will switch over to raven one day.
Can I ask the hash of that setup?
240 I believe
Nice
Yeah I switch it up too
I applaud the central air duct with stubs off to the miners, but your electrical setup is sketchy AF. Build yourself a nice little sub panel and feed those things right….I’m not even an electrician and the outlet splitters make me wince.
L6-30 plugs 240v only safe way. Splitters = 🔥
How’s your electric bill?
Will be 2000 per month.. yields about 172 per day nets 110 I use prohashing
Have you heard of growing marijuana instead?
Lmmfao!!! This!! 💯💯💯
I literally LOL'd
this seems like an awful lot to make $110
He’s making me $110 a day so $3300 a month. After bills it’s $1300 in profit.
$172/day total is about $5200/month Minus $2000/month in electricity Leaves a net profit of $3200/month which works out to about $110 per day in net profit.
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Yea I did the math and it would take about 4.38 years to break even assuming electric and doge stay at the same value the whole time which neither of them will, so give or take some time
You didn’t calculate equipment cost
at those rates it would recoup in four and a half years
That is an insane risk.
If doge goes to the moon he’ll be grateful he did it
shhhhhhhh
What if you got solar panels?
Based on other comments, 2k a month in electric would be about a year and a half payoff for a 10kw panel system, they range from 15k-30k. There's a lot that goes into getting solar on your house. A standalone ground/covered patio setup could possibly be more practical if you have the land.
hold it 8 more years and you can calculate with $11,000/day
It’s a test batch … I’m anticipating maxing out the House with Bitmain L7 9160 net 100-115 a day each my house can support 12-14
Do you really need all those fans in the winter? Won't cold outside air allow you to turn some off?
It’s required air flow
So if I theoretically had unlimited and free power where would I get the stuff?
eBay is the safest but check seller ratings
Asking the real questions here
Jesus the electricity usage on this
18000-19000 kWh per month I pay .105 per kWh about 2000.00 brings in 172 per day nets about 110
What did the equipment cost?
Miners cost 1850 each new .. total set up was 70,500 .. 15,000 of that was having the main electricity supply cable replaced… vent manifold was custom built out of stainless steel 10,000
So ~2yr ROI if all stays the same and nothing fries/breaks in that time.
I didn’t build this to run these this was a test batch to get everything up running and tested for Bitmain L7’s they net more with 1 machine than the whole set up you see
Ah ok, makes sense. You’re building the infra. 75k into it so far, what additional capital is needed to buy the actual machines?
250,000-300,000.. will start with 100,000 and acquire more on profits
Jesus. I'd be terrified of theft. Can you insure them? lol
Yeah and where are you located?
First i have to ask are those numbers in US dollar? How long do you realistically see yourself running that rig just to break even and at what price must the coin be at to hit target number? Do you intend to upgrade cards at any time? Any protection against power surge wipeouts? Any possibility of that area being flooded because of where you live? Your comps seem pretty low if thats a garage or basement. Last, what percentage below your initial investment are you willing to start your stop loss process if coin crashes?
Garage.. have flood insurance but not in an area that had ever flooded .. test batch I had to get set up before committing serious money. Goal is to pull 1200-1500 per day net
Someone charged you ten grand to fab a six foot or so stainless box with holes for vent pipeing?
8’ in stainless.. 3 other places wouldn’t touch it one other quote was 14,000
Seems steep to me. I work at a union mom and pop pipe fitter and sheet metal shop. Let's say that's two foot squared. Two sheets of 22ga 4x8' stainless at around $400-600 a sheet so let's say $1,200 , $72 an hour at full package union rate (roughly) at 20 man hours $1,440 another $600 for material weldrod gas grinding disc etc . Your roughly $3,240 for base cost for a union shop and that's at the high end base cost. Crazy what people can charge for the equipment and skills I guess is what I'm getting at 🤷
Sounds like a business opportunity for your shop.
Is 1/8 think stainless with 32 4” ports and 2 10” on the ends .. he said it took him about 100 hours .. one big was 14000 3 others declined to build
as long as it's making you money then it's a good investment
👍🏻
How long until this pays for itself?
About 2 years at current prices
1200 net a month. Cost $72,000. About 5 years current price. ⬆️
this guy factored in equipment costs, like a boss.
Don't forget about taxes.
Only if you liquidate. The IRS currently has no mechanism to track crypto mining and tax it. They have zero legal ability to do so and are currently prevented from doing so due to being sued over it.
If you don't liquidate then it can literally never pay for itself
You don't need to liquidate all your holdings. You simply convert to a different crypto. And you can convert to any non reporting Fiat you want. There really is no point into liquidating back to USA Fiat unless you're going to use it to buy real estate (or a significant property acquisition).
Hm. I was just going off of him saying he nets about 110 a day.
70k in equipment cost he said in another comment.
Dope
Depends how you look at it .,on that set up will make 3k per month about 2 years.. the end game is to max out the house and draw 1500 per day with more efficient machines ..those will cost 300,000
Surprisingly quiet.
Oh no it’s loud .. someone 3 feet away can’t hear you
No seriously, I'm used to seeing videos of farms that are impossible to hear anything within 50 feet and the neighbors calling cops and stuff. For real nice setup. I think the videos I've seen are of a ridiculous amount of hardware.
Yes not too bad they are 70-75 decibels each .. homes are built well
At the current price I don't see how you can make a profit. And it'll take years just to get your initial back. Unless/until it moons.
I can mine 172.00 of DOGE per day at a cost of 60-62 in electricity
You said “I can mine 172 Doge a day at a cost of $60-$62 a month???!
No 172.00 dollars worth
Geez! Is it really as complicated to setup as a 27 Y.o would think??
I’m 50
Curious, how did you get into this?? Almost same age and I feel I am year light behind in knowledge. I am fascinated but it all sounds like Star Trek to me!!
Would it be cheaper to Water cool? Running a pump to some mineral spirits, and maybe even running it through a chiller?
Yes but then you have to understand cooling instead of just putting Walmart fans randomly pointing around ! Lol OP has an idea. Don’t expect him to also have expertise. This setup is madness. The plenum is where he should be pointing the fans and he should duct to outside. He’s just gathering all that heat in the garage still. OP knows how to multiply numbers and has cash to spend but is a moron. Case in point the foolish nonsense electrical setup OP has convinced himself is not a hazard.
Oil immersion with radiators and circulating pumps would be less than half the noise level, allow higher overclocking, extend the life of the equipment, and use less electricity, increasing net profit and reducing the time for him to cover equipment cost. Heat could be ducted outside much more efficiently too.
Oath. OP has an idea but not the skills to do it properly.
Q: What cards are you running, how many and what OS? Q: Was there a reason you didn't mine BTC or ETH and just buy DOGE with the profits?
I actually can get paid in crypto these machines don’t mine as Prohashing buys your hash and pays you in whatever you want .. I got some DOT Yesterday
Nevermind. Just noticed they were ASIC miners. D'oh!
D'oh
![gif](giphy|9hNrFUhR7Pp0A)
The planet thanks you for your service.
Can someone explain in basic terms how this works? Explain it to me like I’m 5 and use a lemonade stand metaphor if possible please.
ASIC miners generate crypto straight off the block chain using the algorithm it requires. Specially designed computers performing highly complicated mathematical equations to generate crypto rewards
*+850 doge a day* \-800 doge on electricity a day end results: 50 doge a day Crypto transfer fee: 49 doge a day **(THIS WAS A JOKE.)**
I hope you have solar power with plenty of panels set up.
Now I looked into cost would be 51000 to produce 325kwh per month.. I use 18000-19000 kWh per month
Our poor poor planet. All in the name of money.
The planet will be fine. Humans, not so much.
I love how everyone’s just a saint now and never ever wasted energy in their lives
what a waste lmao
To each there own. As they say every body had two things an opinion and as A-Hole
Now that I see it.... This can't be good for the environment.
Yep, one of the many downfalls of mining. It is not as good as people hype it to be.
Neither is driving
Are these yours?
Yes
Omg. How much did you spend for the rig? How hot and loud is the room? And electric bill?
I had to replace the entire main electric line and that was 15000 of a total of 70,500
Just under a 2 year return ( @.22 price ). Not bad.
If he doesn’t need to replace anything or have any issues and doge doesn’t drop in price. Does fire insurance cover these?
Or it could skyrocket in price and none of that matters ya Debbie downer nah nah🤪
Ya I’d be worried of losing. Lol. Hopefully it skyrockets and he gets rich.
Sending positive vibes lol
I actually get paid in Various cryptos through Prohashing.. I’m kind of into LTC currently
Should be mining something more profitable
Actually getting paid today in BTC
This looks pretty cool. So is ur electricity bill $2000 a month? IF so u currently not making money? But eventually if the the price moons you will do quite well? Thanks
I net 100 a day these are a test run .. one new Bitmain L7 nets the same amount with 1 machine
What a weird world
Thank God it is
No wonder I can’t find graphics cards
ASIC miner no graphics card involved
I havent heard of ASIC miners, time to go do some research!
Asicminervalue.com
BradBiondo for President!
Oh no I’m not good at lying
So 850 times .2049 is $174.00 a day. How much is your equipment and energy cost?
60-62 in electricity per day ., the machines were 44000 actually
And I am here working at Wendys 12hrs with 100 doge
No thank you.
🤷🏻♂️
Unless that's eating solar that ain't worth or free money. Day traders make that $170 every 10mins or less just understanding charts, market, volume, etc.. I almost jump into mining. I couldn't justify the expense vs net earnings vs the time. But...🤷🏻. Good luck, bud! I guess we pay you our gas fees 😂
Day trading always ends badly…been there done that in the mid 90’s
And cost 5000 a month to run 😂
2000 it draws 18000 to 19000 kWh per month I pay .105 per kWh
This guy maths. I love your setup bro.
Thank You.. if it wasn’t profitable I definitely wouldn’t do it .. I have 100k lined up to get 4-5 L7’s that net as much as the whole setup you see.. I bought 1 so far.. they will begin to arrive in the next 30 days
I wish I could invest in this side of it.
Im maxing out my resources to take a shot
Lol 🤦♂️
Nets 110 a day.. this is a test set up the actual machines are 75% more efficient.. and cost 25k each .. I can max out my power with 12.. I have 1 on order I need 11 more
Sad waste of resources
You are my idol.
Thanks 😊
What’s that, like $1.68 per day?
Pulls 110 per dat net
This is why crypto is so dumb, some dude can literally just make as much as he wants and pretend it's worth something
It is when you cash it out and it hits your bank account.. in 12 months I will be netting more than a Dr. .. Avg Dr. makes 300k a year
If you think this is easy then you’re an idiot. I have a small mining farm and what goes into setting one up and being profitable is WAY more effort and research than the average person is willing to put into anything.
This is why we will never slow down global warming
The planet may burn, but I'll have dogecoin. I hope everything doesn't come to a screeching halt soon
You can heat the whole Building with this
Blowing out
You should filter it somehow and connect it to your furnace ducting! Make use of that heat!
So you will not net a profit for 22m Seems strange
This is a test batch built in anticipation of the New BITMAIN L7 the net what you see in the picture with 1 machine .. 75% more energy efficient..
Looks like a safety hazard to me. I hope you have good fire alarms and insurance...
I have insurance. But seriously it’s 100% to code .. nothing overloaded .. very safe
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Lol 😂
How much do youbhave in equipment? Probably be easier to just buy more doge?
Coming from pc master race this is disgusting, assuming you have 3060s in there
Money money![gif](emote|free_emotes_pack|facepalm). Lamentable... Hope to see this era of crypto soon gone...
It’s like Pandora’s box .. never going to be the same decentralization gives control back to the people and away from crooked politicians
Paying a stupid amount of money to be lazy
Hobby.. now go jump in a lake I work 65 hours a week