Reduce Crypto Mining Electric Cost

[B Dannels]

Hello all:
First time back here, in over 10 + years! My project back then was 12v system in a completely off grid environment! NOW, my goal is to mine Crypto (ETH), using as much solar as possible, and using the most economical products I can purchase! Currently I am mining 24 hrs. per day ON GRID. Using 700 watts continuously 24/7. I would be real happy if I could get 6 to 10 hours of solar to start off with!!
My plan is to increase power usage to approximately 1800 to 2000 watts continuous. This will be in phase 2, about 6 months from now.

From what little I know, I am leaning towards the Growatt SPF 3000TL LVM
Along with a 48V HSKY - LiFePO4 - 103Ah - 5.3kWh.battery, and maybe adding a second one in phase 2.
My plan is to purchase used panels for a ground mount system. I have 6.5 acres, BUT lot's and lot's of trees! There is 3 different spots I can use for the panels, first spot is about 25-30' from the batteries/controller. 4 hrs. Sun, space for 6 panels. Second spot about 150' away. 4-5 hrs. Sun, space for 8 panels. Third spot is about 200' away, 6 hrs. Sun, space for 16+panels.

For the panels, ideally I'd like to start close to the source and work my way to the longest distance, as I expand the system. Keeping the largest area for the most expansion at a later date. One big question is size and configuration for the controller, based on me wanting get up and running at one third to half power then add to the system 6 months down the road. All while meeting the needs of the controller and battery!

NOTE: Everything I put here is just based on a rough guess and my ideas. Extremely open to any suggestions you might have, I am basically at a standstill until I can figure out panel size/configuration with best choice on controller, inverter, battery for the project!

Thank you for your time!
Bill

 

[sunshine_eggo]

700W * 6h = 4200wh

You'd need about 1000W of panels in great solar conditions (good weather, no shading all day, panels properly tilted and facing South).

https://watts247.com/product/pip-lv2424-msd/ $695

Can supply 2400W and accept 2000W of solar.

Build your own 8S 24V LFP battery with 7kWh of capacity, $1200

2000W of solar for $1000, less if you buy used panels from SanTan

Misc wires, etc. $500

Total: about $3500

That should get you about 12 hours daily.

You would insert the inverter between your grid and miner. It would power the miner first by solar, then by battery then by grid.

 

[MichaelK]

Honestly, if you think you are going to save money with an off-grid, battery based system, you are just fooling yourself. Grid power is simply the very cheapest source of electricity there is, and you won't save a single penny with your plan.

What is more likely to be productive, is to have a battery-less grid-tie system to offset the power you are consuming with the power you make. Pay close attention to the contract you can make with your local utility. In most places they are going to sell you the power you use at a high markup from what they pay you for the power you make.

 

[B Dannels]

Honestly, if you think you are going to save money with an off-grid, battery based system, you are just fooling yourself. Grid power is simply the very cheapest source of electricity there is, and you won't save a single penny with your plan.

What is more likely to be productive, is to have a battery-less grid-tie system to offset the power you are consuming with the power you make. Pay close attention to the contract you can make with your local utility. In most places they are going to sell you the power you use at a high markup from what they pay you for the power you make.

I really appreciate your point of view! I am looking at this from a hobby/something to do! I don't think it can be any worse of a payback, than Gardening or Bass Fishing! ? When you factor in Boat cost, the cost per lb. of the Bass goes way up.? with that said, I would still like to spend wisely! I probably will mess around/learn something without using battery, just to see what the electric savings will be. (Not calculating payback) ?
Thanks for the input!

 

[BMcL]

I've heard that ethereum will no longer be mined. Not sure why, but the end is soon.
It is also the most profitable. So is this even worth getting into ?

 

[JoeHam]

Nicehash will find something profitable to mine if Ethereum goes away but it’s an uphill battle.

See here for my experiment :

Cryptic Crypto- How can I make $5 per day efficiently?

Like tens of thousands of other folks who viewed Wills latest video on crypto it got me thinking. I noticed a mention of NiceHash by him and thought of starting there. In a few minutes, I set up an account and put to work a computer that is not being used during the week. The computer is a...

diysolarforum.com

With the drop in bitcoin price I’m looking at something more like a 2 year payback on the computer equipment alone.

And that is completely ignoring my “sunk costs” for solar generation of electricity which is not trivial.

Good thing this is NOT my retirement plan ! ?