Cool text this morning from customer

[Shinzul]

Unless you already have the mining gear laying around - it won't be profitable. Even if you have the gear laying around it still likely won't be profitable. I have quite a bit of gear, but cooling it in a Texas summer, even with solar picking up a chunk of the energy, it's just still not worth it.

if you wanted an idea of revenue vs profit depending on your gpu and what coin you'd try and mine. whattomine.com would show you all possible scenarios based on your electric rate and the hardware you have current difficulties and current exchange rates of various cryptos.

I've dabbled in gpu mining for years, the golden era were the times I could pull in $50 a day while electricity only cost me $5/day, hardware paid for itself in a few months vs the years it takes now. It's a fun tinker type hobby at this point, and I'd only dabble in it currently with the mentality of a prospector. aka mining XYZ I think is interesting and its value possibly skyrocketing later (nobody knows) Winter time is more interesting/exciting because at least the waste product is useful (free heat) off all the rigs keeping the house toasty.

Even if it's 100% free power just from solar?

 

[SparkyJJO]

Even if it's 100% free power just from solar?

The hardware costs something.

 

[dougbert]

I'm curious about the DC in metal issue for batteries. You obviously can't run metal right to the battery terminal, so some amount must be allowed?

looks like a metal building (lol)

 

[robby]

Unless you already have the mining gear laying around - it won't be profitable. Even if you have the gear laying around it still likely won't be profitable. I have quite a bit of gear, but cooling it in a Texas summer, even with solar picking up a chunk of the energy, it's just still not worth it.

if you wanted an idea of revenue vs profit depending on your gpu and what coin you'd try and mine. whattomine.com would show you all possible scenarios based on your electric rate and the hardware you have current difficulties and current exchange rates of various cryptos.

I've dabbled in gpu mining for years, the golden era were the times I could pull in $50 a day while electricity only cost me $5/day, hardware paid for itself in a few months vs the years it takes now. It's a fun tinker type hobby at this point, and I'd only dabble in it currently with the mentality of a prospector. aka mining XYZ I think is interesting and its value possibly skyrocketing later (nobody knows) Winter time is more interesting/exciting because at least the waste product is useful (free heat) off all the rigs keeping the house toasty.

Wow going off what W. Prowse said I assumed there was a lot of money to be made so long as you have solar.
I also assumed that because most of his PV equipment was probably free that he only needed to factor in the cost of the computer equipment. It's surprising when you say that even with gear lying around it's not profitable!
I had heard similar stories based on the Large companies that own their own power plants killing the Market for smaller people but I thought they had started to implement some sort of system in BT that allowed people to get paid for their contributions equally.

 

[Brucey]

Wow going off what W. Prowse said I assumed there was a lot of money to be made so long as you have solar.
I also assumed that because most of his PV equipment was probably free that he only needed to factor in the cost of the computer equipment. It's surprising when you say that even with gear lying around it's not profitable!
I had heard similar stories based on the Large companies that own their own power plants killing the Market for smaller people but I thought they had started to implement some sort of system in BT that allowed people to get paid for their contributions equally.

The money to be made was when bitcoins were $20, and now over $60k.

 

[robby]

The money to be made was when bitcoins were $20, and now over $60k.

True, I had heard that awhile back, I don't think it was $20 at the time, it was sometime back in 2021 or 2022.

 

[B-Mod]

How much money can you earn with rigs consuming 7000W.
I just want to get a baseline to see what the ROI is for the solar plus computer equipment.

Well........ After the latest halving of bitcoin, not so much in return, lol. Cost is $250 a piece for the used older ones I bought. I use them to heat my shop in the winter so that is a added benefit to me. Right now if electricity cost is free (solar) mine will make $3.00 per day each.

I have made close to $600 now with the 2 miners I have. I only run them when I have excess power, which over the winter was during the day sometimes, but not so much during the night. It is better then just wasting power I could be making and in the winter, it heats my shop for free and makes a few dollars.

It is not for everyone, but it works great for me.

 

[robby]

Well........ After the latest halving of bitcoin, not so much in return, lol. Cost is $250 a piece for the used older ones I bought. I use them to heat my shop in the winter so that is a added benefit to me. Right now if electricity cost is free (solar) mine will make $3.00 per day each.

I have made close to $600 now with the 2 miners I have. I only run them when I have excess power, which over the winter was during the day sometimes, but not so much during the night. It is better then just wasting power I could be making and in the winter, it heats my shop for free and makes a few dollars.

It is not for everyone, but it works great for me.

I clearly remember many years ago sending a nasty email to a software developer that wanted 1/4 of a BT for his App.
I remember going on eBay and finding out that a 1/4 BT would cost me over $60. I laughed and thought what a Rip off price this guy is asking for his App.
In retrospect just imagine if I had bought 10 or 20 BT back then Lol.

Personally I have always seen them as a risky investment that will crash into dust one day.
I have recently revised my thinking because of the revival after the last crash. I now think they are a kind of Cult Currency that is hoarded by it's owners and very rarely spent. Therefore it's value will probably keep increasing unless some major event happens or something makes the Cult become disillusioned in Mass. This kind of thinking is out of my generations experience and simply does not compute but I accept it for what it is.

Could someone offer me 8 bitcoins and try and buy a $500K piece of real estate from me, No way!
I will stick to tangible items that I can actually see and feel. I don't even trust real money anymore so it's pretty much a Real Estate game for me. I fully expect Real Estate values to crash several months after the next election but my experience is that so long as you don't have a Mortgage it's just a waiting game for a year or two and then it recovers.