TH

Hardgain-Gang

I bought an Apollo 2 by futurebit it’s pricier but it’s a complete full node set up that also has a 5TH miner with the option to solo mine as well! Also fully made in America

damorazzi

I’m running my own clone of CKpool, got 5-6TH/s and just wanted to see if I could do it. Set my own difficulties and generally play around with my own pool.

JerryLeeDog

# Bitcoin Price 60,663.89 # Difficulty 92.05 TH # Block Height 864944btc

dbudlov

DictionaryDefinitions from [Oxford Languages](https://languages.oup.com/google-dictionary-en) · [Learn more](https://support.google.com/websearch/answer/10106608?hl=en)au·thor·i·tar·i·an/əˌTHôrəˈterēən/*adjective* 1. [favoring](https://www.google.com/search?sca_esv=5bf84f1c9db1b0c0&sxsrf=ADLYWIIiByghNKvvtQu8jHZDjM2Qn5XFig:1728421644430&q=favoring&si=ACC90nx67Z8g0WkBmnrPB4IqtqGvNeunzvk32rOChlrS5K85RUyu3gUYE-j5FaWeAtu5s9fNv4WgfFOZlZcwS1i7DO2D3ppOlZpWgVlmkiG1lLlvKxHYjuY%3D&expnd=1&sa=X&sqi=2&ved=2ahUKEwiGl42x2P-IAxUWFlkFHclcN1IQyecJegQISBAO) or [enforcing](https://www.google.com/search?sca_esv=5bf84f1c9db1b0c0&sxsrf=ADLYWIIiByghNKvvtQu8jHZDjM2Qn5XFig:1728421644430&q=enforcing&si=ACC90nxMSPeZfdJJjQgDsdZJuFuJ-2PD2whggFIjcO8IAncYTR98SKY0KN6PNmwvrmrX_O5XKUx0Ttmbh22haDH1PIZcWxqeNVucc2rWZkQHsUXS986HtAQ%3D&expnd=1&sa=X&sqi=2&ved=2ahUKEwiGl42x2P-IAxUWFlkFHclcN1IQyecJegQISBAP) strict [obedience](https://www.google.com/search?sca_esv=5bf84f1c9db1b0c0&sxsrf=ADLYWIIiByghNKvvtQu8jHZDjM2Qn5XFig:1728421644430&q=obedience&si=ACC90nxMSPeZfdJJjQgDsdZJuFuJDIz7Krem2zIMTtirmkRHnItl_qnh4ZEKDnM9KrNYRBI0pTG9DPrwgr83bR0uzf-QxRsYL2-zKvg8j_Ca1B-4fkIJiNE%3D&expnd=1&sa=X&sqi=2&ved=2ahUKEwiGl42x2P-IAxUWFlkFHclcN1IQyecJegQISBAQ) to authority, especially that of the government, at the expense of personal freedom. authoritarian would be generally anyone favoring the control of peaceful people (those that havent violated anyones life or property) through govt or criminal force, justified via claims on authority. all govt is authoritarian to some degree but the examples you provided are good ones, along with any drug laws, taxes, inflation/currency expansion or anything that prevents free and peaceful individual choice

irisuniverse

Your numbers are off. My axe miner is 500 gigahash and this says chance is about 1 in 10 million per day. For 1 TH it should be about 1 in 5 million, not 1 in 5 billion like you wrote. Definitely better than the lottery.

Numerous_Ruin_4947

Edit: I just checked and the Bitmain Antminer S21 Hyd (335Th) can hash 355 TH/s and costs $4,200. Current BTC hashrate is 647.84 EH/s. [https://www.coinwarz.com/mining/bitcoin/hashrate-chart](https://www.coinwarz.com/mining/bitcoin/hashrate-chart) [https://koinly.io/blog/best-crypto-mining-hardware/](https://koinly.io/blog/best-crypto-mining-hardware/) 647.84 x 0.51 = 330 EH/s 330,000,000 / 355 = 929.577 929,577 units x $4,200 = $3.9 billion So it looks like a 51% attack could be achieved for under $10 billion by a motivated entity with sufficient resources.

Numerous_Ruin_4947

I realize that. ChatGPT does help to create a rough framework which can be tweaked. For example, the Antminer S19 XP Hydro can hash at 255 TH/s. 609 EX/s x 0.51 = 310.59 EX 310.59 x 1,000,000 = 310,590,000 TH/s 310,590,000 / 255 = 1,218,000 Antminer S19 XP Hydro costs around $5,000-$6,500. I'll use $6,000 1,218,000 units x $6,000 = $7.3 billion It would take around 1.2 million Antminer S19 XP Hydro ASIC appliances to hash 51% of the current BTC hash rate. What if an entity with enough resources starts to manufacture these ASIC appliances in secret? Perhaps their upfront cost would be $5-10 billion. And daily costs of around $8-16 million. These numbers may not exactly be accurate, but it would cost less than $20 billion potentially to perform a 51% attack. For how long can the attack be executed and what can be prevent it? A fork?

Numerous_Ruin_4947

# Calculation Breakdown: # 1. Current Bitcoin Hash Rate: * As of recent data (which fluctuates), Bitcoin's total hash rate is around **440 EH/s**. * To control 51%, you need to acquire approximately **224 EH/s**. # 2. Hash Rate of Mining Equipment: * A common miner like the **Antminer S19 Pro** produces around **110 TH/s** (terahashes per second). * 1 EH/s = 1,000,000 TH/s, so you would need around **2 million Antminer S19 Pros** to achieve 224 EH/s. # 3. Electricity Costs: * The Antminer S19 Pro consumes about **3,250 watts (3.25 kW)**. * At 224 EH/s, the total power consumption would be about **6.5 GW** (gigawatts). * At a price of $0.05 per kWh, daily electricity costs alone would be: 6.5 GW×24 hours/day×1000 kWh/GW×0.05 $/kWh=≈7.8 million dollars per day6.5 \\, \\text{GW} \\times 24 \\, \\text{hours/day} \\times 1000 \\, \\text{kWh/GW} \\times 0.05 \\, \\text{\\$/kWh} = \\approx 7.8 \\, \\text{million dollars per day}6.5GW×24hours/day×1000kWh/GW×0.05$/kWh=≈7.8million dollars per day

Numerous_Ruin_4947

# Calculation Breakdown: # 1. Current Bitcoin Hash Rate: * As of recent data (which fluctuates), Bitcoin's total hash rate is around **440 EH/s**. * To control 51%, you need to acquire approximately **224 EH/s**. # 2. Hash Rate of Mining Equipment: * A common miner like the **Antminer S19 Pro** produces around **110 TH/s** (terahashes per second). * 1 EH/s = 1,000,000 TH/s, so you would need around **2 million Antminer S19 Pros** to achieve 224 EH/s. # 3. Electricity Costs: * The Antminer S19 Pro consumes about **3,250 watts (3.25 kW)**. * At 224 EH/s, the total power consumption would be about **6.5 GW** (gigawatts). * At a price of $0.05 per kWh, daily electricity costs alone would be: 6.5 GW×24 hours/day×1000 kWh/GW×0.05 $/kWh=≈7.8 million dollars per day6.5 \\, \\text{GW} \\times 24 \\, \\text{hours/day} \\times 1000 \\, \\text{kWh/GW} \\times 0.05 \\, \\text{\\$/kWh} = \\approx 7.8 \\, \\text{million dollars per day}6.5GW×24hours/day×1000kWh/GW×0.05$/kWh=≈7.8million dollars per day

HSuke

New 110TH S19 Pro is about $3k So $16M worth of equipment.

Abundance144

>Every miner on the network has the same chance to find a block. That's just not true. The chance is determined by their machines hash rate. A modern machine crunching 300 TH/s versus a nerd miner V2's 70 KH/s has one billlion times greater chances to find a block; simply by doing a billion times more work, and being a billion times more efficient. What you're saying is like someone who buys one lottery ticket is is just as likely to win as someone who buys a million of them; you're just wrong.

onetruecharlesworth

https://start9.com/ Personal preference, I run extras just to help secure the network. I run a small 4TH antminer in my utility room for a small loss each month for the same reason. I’m heavily invested in BTC so I figure I should do my part in protecting that investment.

Hardgain-Gang

Buy the apollo 2 full node/low TH miner it’s perfect for ya

H34RTLESSG4NGSTA

They are good for longer than 1-2 years. The less powerful machines are still profitable in bull markets. For example, taking the original numbers, with BTC at $60k, and cost of BTC at $35k with the best machines, you could still make something more than $0 using a machine of ~50% TH/s against the cutting edge.

drunkmax00va

The Antminer S21 operates at a speed of 200 TH/s. For your Nerdminer to perform the same amount of work that the S21 does in a single second, it would need to run continuously for about 100 years.

KneeGrowslaya

Actually i saw this yesterday and ran the maths. If it was 10 bitmain ks5 pros with 21 TH/s and the power consumption of 3400W each it is actually not that much off. The power consumed equals 17,36 MW/h and they could have potentially mined 45 000 kaspa at current difficulty. The 100k comes from a fact that this probably happened a month or two before the article was posted when yield was much much higher, they could have mined literally 100k kaspa. Not a 100k worth of kaspa but a LOT

coinfeeds-bot

tldr; Toronto-based Bitcoin mining company Bitfarms reported a $27 million net loss in Q2 2024, with a 16% decline in revenue to $42 million quarter-over-quarter, attributed to reduced block rewards from the BTC halving event. The loss per share was 7 cents, including a $1 million non-cash expense for revaluing warrant liabilities. The company produced 614 BTC at an average cost of $30,600 per BTC, with total cash cost per BTC rising to $47,300. Despite challenges, Bitfarms is pursuing expansion and efficiency improvements, aiming for 21 EH/s and 21w/TH by year-end. The firm is also facing a hostile takeover attempt from Riot Platforms. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Close_enough_to_fine

It’s me. I’ll have you know I mine over 2TH/s an hour!

miros2424

No, they have diminishing returns with difficulty rising all the time. I did the calculations with present day difficulty. In 3 years they are worth less than 1/10 the cost. For example the 95TH/s miner was 5000$ over 3 years ago and required 5 of them to make 1 bitcoin in 1 year consuming 10,000$ of electricity. That is 35,000$/bitcoin.

NiagaraBTC

My 100TH miner was getting about 15000 sats per day before the Halving +it's off now for the summer so not sure currently, but it would be less). Cut in half it would be 7500. 7500*0.06= 450 The 6TH miner would definitely earn *less than* 450 sats ($0.30) per day.

KindlyBlacksmith4003

I see network hash rate at about 650 million TH/s. S21 Pro at 234 TH/s. So yes, the equivalent of about 2.8 million S21s.

coinfeeds-bot

tldr; At the Bitcoin 2024 conference, MicroBT unveiled its new WhatsMiner models, focusing on eco-friendly mining technology. The models introduced include the air-cooled M60S+, hydro-cooled M63S+ and M64, and the immersion-cooled M66S+, with the M60S+ offering a hash rate of 210TH/s and 17J/T power efficiency. The hydro-cooled models can handle water temperatures up to 80℃, setting new industry standards. CEO Dr. Zuoxing Yang also discussed the potential for solar-powered mining, predicting a cost drop to $0.04 per kWh by 2026, and announced the upcoming WhatsMiner Solar Mining Container system. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

SmoothGoing

Seemed sketchy where 600gh/s miner was hitting over 3000. 3TH/s isn't fast but I don't know mining and that pool enough to call this an outright fake.

GateWhole3191

GOMINING BEST BTC CLOUD MINING SERVICE AROUND!! GoMining NFT Crypto Cloud Mining I would recommend GoMining it uses NFT powered mining and is probably about one of the most legit cloud mining services I’ve used I currently get about about $10-$20 per day deposited into my BTC wallet the more you invest the more you make, you can upgrade your NFT by 2 ways you can upgrade your TH, which is the power your miner has,same way as like a real miner would have. You can also upgrade your W/TH, which is the amount of “power” your nft uses, the higher upgraded it is the less service fee you have to pay per day, which also increases your daily pay out. I’ve seen on the app some people that make upwards of $1,000, $5000 and even up to $15,000/day, yes it takes a lot of money to get to that point but it is possible, theres also discounts you can get from paying the maintenance fee in their crypto currency, its called GMT (GoMining Token) then there is also a “game” in which you click this button that says service daily and if you remeber to do this daily you’ll get 0.3% discount that is stackable as long as you tap the “service” everyday and that discount will go up to 3% maximum, then also as your level increases based on your total TH you will get a 0.6% discount whenever you get a total of 5TH, 10TH, 50TH, 100TH, 200TH, and so on till you reach level 20, there is also pool mining where you can combine your TH with other players with up to 50 players per pool and get rewarded if your pool mines the current block it’s randomly picked which pool wins and mines that current block but your pool has a better chance of mining the block the higher TH your mining pool has combined, but depending on weather you can get in a good pool that take the game serious and actually makes their pool a good and competitive to keep the total amount of TH up then you can make a lot pool mining but thats pretty general description of how it works and what to do to start out and give you the best shot at starting up, this is my referral link to anyone that would be open to trying this app it really does work and I’d recommend it to anyone GoMining https://gmt.io/?ref=8xL6i

brad1651

One of the benefits of free incremental energy cost is that you definitely don't need to run S21s or similar. There's plenty of S19J's K's etc that list for hundreds of dollars. Even if you estimated an effective daily hashrate of 35 TH/s (25-33%), they'd be netting a million sats/year. That'd pretty much pay for a run of the mill last generation miner, plus they can claim depreciation on top of that. Honestly, if you had a 5 year payback, most companies would jump at the chance to increase revenue and margin for only capital investment with hardly any impact on COGS. Difficulty is set to make a gigantic jump next week, but that could be temporary without positive exchange rate variance.

LargeSnorlax

Electricity included in the rent ≠ you can run hundreds of dollars of extra electrical through your apartment People make this mistake all the time and buy expensive miners only for (big shock) their electrical to get cut off a month or two in because paying for routine electrical use doesn't mean they're going to fund your Bitcoin mining habit You're also not going to be able to run a s21 in an apartment without two things happening: - You going insane because of the noise - You getting noise complaints from neighbours above, below, and beside you https://youtu.be/e60ol6v5r_0?si=igvce1ksmbnvRsfN&t=161 An s21 sounds like a vacuum cleaner on at full volume, all day every day, if you'd be pissed hearing your neighbours operating a shopvac 24/7 then you'll understand what your neighbours are going to hear It's pointless to buy an Apollo II as well because you get 10 TH/s which is pointless, it's 1/20th the power of a s21 so you may as well just take the money it takes to buy one and buy Bitcoin with it If anything, use your graphics card and use nicehash to mine NEXA or something but mining is largely pointless these days even if you have "free" electricity

chuckrabbit

Sorry that can’t be right. Hash power has nothing to do with supply cap. Total network hash date deployed is already at ~6x10^20 H/s TH is 10^9, and network is about 600M TH/s.

tlztlz

Yes, as a funny doodad. An actual S19 Miner has around 140-200TH/s. This one has 80KH/s. So an S19 is 2\*10\^9 better. 2 billion times. 2 billion seconds equals around 60 years. This little bad boy needs to run 60 years nonstop what an S19 does in a second.

Corbimos

TH is TH. If you have 200TH of miners. It doesn't matter if its one unit, or 20 x 10TH units. They all produce the same amount of hashes. The power requirements are where you lose money, since 20 units would use more power than one unit. the difficulty affects the hash of all miners the same.

Corbimos

TH is TH. The profitability is all in energy efficiency. If you aren't paying for electricity, then it's the same to you. If you look at resale value, the 200 TH, more efficient model would probably sell for more. I'd go with that since you may not be able to mine for free forever.

4lt3r3dR341ity

Math equation is quite easy, Cost of equipment Hash power Electricity rate Current btc price For instance, currently 1Ph/s yields around $50-60 a day. One S19 miner is $500 for about 100 TH/s So $5,000 for 1 Ph/s Take you 10 months (at current price) to ROI on device cost, (you’d factor in your own expenses(elect rate)) Your biggest enemy isn’t the buy in cost, it’s electricity rate. Users who can do hydro electricity (at home let’s say) make a KILLING mining with ancient equipment. I’ve been able to sell a lot of “older” equipment to miners who do hydro electricity mining.

Early_Asparagus_6510

ITS the long weekend here in MELBOURNE VICTORIA because it is HIS MAJESTY'S OFFICIAL BIRTHDAY so CHEERS to HIS MAJESTY KING CHARLES III OF THE UNITED KINGDOM, WALES, NORTHERN IRELAND, SCOTLAND and to THE COMMONWEALTH OF NATIONS particularly AUSTRALIA and the rest of the ASIA PACIFIC REGION. SO MISS IYATS where will you pledge your LOYALTY? I SOLEMNLY DECLARE MY OBEDIENCE AND LOYALTY to THE ONE who already SECURED HIS IMMUNITY... TO HIS MAJESTY CHARLES III R. COZ AT THE END OF THE DAY... are you all smarter than a 5TH GRADER? FOLLOW THE LIFE and complexities of the CRYPTOLOGIST R. PACIFICO-HUGGINS, the one who solved the PASSWORD from THE [NAKAMOTOFOUNDATON.ORG](http://NAKAMOTOFOUNDATON.ORG)

AggressiveWonder4058

mining since 2017 i always go with [frogpool.ae](http://frogpool.ae/) thispool pays the most transparent rate on market for today 6/8/2024 they pay 123 sats per TH/s while viabtc 88 f2pool 97 sats !! no way they even charging only 1% and have all you need waterlinks, live notifications, hashrate management and subbaccounts they also pay 0.001 with no fees !

AggressiveWonder4058

mining since 2017 i always go with [frogpool.ae](http://frogpool.ae/) thispool pays the most transparent rate on market for today 6/8/2024 they pay 123 sats per TH/s while viabtc 88 f2pool 97 sats !! no way they even charging only 1% and have all you need waterlinks, live notifications, hashrate management and subbaccounts they also pay 0.001 with no fees !

Desperate-Barnacle-4

No, you will never find a block this way. A modern CPU can make a few million hashes a second. A decent GPU could do a billion. And an ASIC will do many trillion hashes a second. When someone solo mined a block with 17TH/s it made the news https://x.com/altair_tech/status/1667283976912863233 a miner like this could expect 1 block every 450 years.

Traditional_Use8475

SCAM SCAM SCAM!!! I've been seeing the same ads as well. As soon as I saw this for their mining equipment I knew it was a scam. SHA-256 and can mine KASPA, SMH and WTF cutting edge? 2TH/s using 1800W lmao... Copied from their website today: BlockDag X100 is efficient and profitable for optimising the mining experience. With cutting-edge ASIC technology, it boasts a substantial 2 TH/s hash rate with an impressive energy consumption of 1800 W. Users can earn up to 2,000 BDAG daily, as X100 optimises your earning potential and optimises the mining process. You can also mine Bitcoin and Kaspa with BlockDag X100, as it is equipped with the SHA-256 algorithm. With advanced ethernet connectivity and enhanced heat dissipation, it is an ideal choice for pro miners. Size # 54cm x 26cm x 20cm Hash Rate # 2 TH/s Power Consumption # 1800W Coins Per Day # Up to 2,000 BDAG #

Anonymouse-C0ward

So… an entity with >$17.5B, 10 GW of power generating capability, and the ability to somehow manipulate the supply chain to buy $17.5B worth of current gen mining equipment without raising suspicion (or to build a supply chain capable to manufacture at least 650,000,000 TH/s of mining without raising suspicion). That and it all has to go online within a very short timeframe, or else you’ll garner suspicion, and older miners being recommissioned to defend the network. I mean, yeah, it’s *possible*. Not probable though.

CockroachSeparate827

I just read the press releases for the mining groups and add it up. You have a site here at 650 MW and a site there at 900 MW and before long you're looking at real fuckin power. I would know more exactly but the bitcoin mining companies sued the federal government to keep their power use secret. The minimum credible figure for Texan mining alone is 2200 megawatts as of October 2023, but this does not include a survey of all the Texas sites nor a report on the expansions made since then. Since we know that Texas is less than 10% of global hashrate, we know global hashrate is wasting over 20 gigawatts. Another approach is as follows: Global hashrate: 659 exahash/sec This is 659 million terahash per second. One of the top mining units for efficiency is a WhatsMiner M56S++, a watercooled 5.55 KW unit with 230TH/sec. 659 million divided by 230 x 5.55 KW gives 15 terawatts, assuming the most efficient newest miner is doing all the mining. Yet another underestimate of power wasted.

DiedOnTitan

Number of Bitmain S19 units required = 585,840,000 TH/s (current hashrate) / 110 TH/s = 5,325,818 units 5.3 million S19 miners to support current hashrate of 585 EH/s. There are like 1,000 available on eBay for \~$1,000 a pop second hand. For new Bitmain S21 at 234 TH/s cost is $6,300 = 2.5 million units. = $15 billion dollars. before electric, wiring, housing and cooling. Even if supply were available (not close) you would only double the mining rate and cause the network to take 20 minutes per block for 2 weeks after pulling out. Satoshi's game theory makes this economically utterly impractical and just about theoretically impossible.

fischer07

I run an S19 XP 141 TH. Average was about 0.008 btc per month pre halving

ddamian__

https://link.clashofclans.com/en?action=OpenLayout&id=TH16%3AHV%3AAAAAAQAAAALCObP62K0GTFLJMEaPDMPi

SteveW928

Less than 14 w, so approx. 122 kw hours, so at $0.07 like $8, or $12 at 0.10, etc. In terms of earnings, current rate is \~80 SATs/TH/day, so 0.5 TH is \~14600 SATs per year (\~$13.60). So, slight profit if electricity is low enough, but the SATs will probably be worth more in the future. You're not going to justify the cost of the unit itself in this equation, as even if electricity were free, it would take years to pay for itself. That's probably why a lot of people just solo mine, or if buying it anyway, maybe add some hashrate to other hashrate they are generating to get to payouts (ex. I have an S17Pro I'm mining with to Ocean... every 0.5 TH/s helps.). Keep in mind the BM1366 is the same ASIC chip from the S19XP, so this is a similar boat the big industrial miners are in, just at a different scale. The nice thing about solo mining (or mining with Ocean or certain other pools), is that you're adding hashrate to the non-centralized side of the equation. That's worth something, too. And, maybe you'll find a block as a big bonus.

Silarous

Here's a copy of a post I made a few months ago. TLDR, you can make a profit in fiat while still being worse off in terms of BTC earned. "I bought a S19J Pro 13 months ago. Here's the numbers... I bought a S19J Pro Bitcoin miner to use as a garage heater in February 2023. I've been tracking its earnings on a spread sheet. It's had roughly 99% up time since I got it. I ran it overclocked for the majority of the time at 4000w and 125TH. In the summer months, I underclocked it at 1700w and 70TH. My residential electricity rate is right around $0.08 kWh. Here's the numbers using a current BTC price of $62,801 * I spent $2454.41 for the miner and everything I needed to get it up and running (control board for overclocking, wire, outlet, breaker, AC Infinity fan, fan shroud, etc.) * I spent a total of $2,434.56 in electricity. * Total expense = $4,888.97 * As of today, I earned 8,372,182 sats. That's worth $5,257.81. * Mining profit = $368.84 * If I were to sell the used equipment today, I'd get roughly $1,368.35 or 2,178,866 sats. * Total profit from mining and selling used equipment = $1,737.19 or 2,766,182 sats. * Total BTC accumulated = 10,551,048 sats worth $6,626.16 Not bad, right? I made $1737 over the course of a year while heating my garage. In USD, that's a net gain. However, if we do the math on BTC earned from mining vs. using the money spent on the equipment and electricity to buy BTC... * $2454.41 spent on the equipment in Feb 2023 would have bought approximately 10,751,441 sats. * $2,434.56 spent on electricity would have bought approximately 7,329,100 sats if I purchased BTC on the 1st of every month. * Total BTC from buying = 18,080,541 sats, worth $11,354.76. * Total profit buying BTC = $6,465.79 * Net loss from mining vs. buying = -7,529,493 sats or -$4,728.60 In my case, I would have made a lot more money and bitcoin if I just bought it. But I wouldn't have had a heated garage either. However, many of the months, I didn't need a heated garage and ran the miner anyway. :) Would I have paid to heat my garage without the miner? Probably not. Either way, I had fun tinkering with it. It was a great learning experience, and I'm still happy I did it. To those thinking about spending a large sum of money starting up a mining business, you seriously need to run the numbers. This situation would have worked out even worse if I bought more miners, infrastructure to support them, and had rent to house them. With the halving coming up in about a month, I will most likely become unprofitable and will be shutting down unless BTC doubles from here or difficulty drops."

cuulowner

# Dont feel Bad I Also Got Wrecked Mining Bitcoin with Compass Mining Alright folks, buckle up for a tale of woe and financial ruin. If you're thinking about mining Bitcoin, you might want to sit this one out and just HODL. In October 2022, I thought I was being smart. I dropped $79,500 on six shiny new Antminer S19XP 140 TH units, direct from Bitmain. Each one cost me $13,250. I figured with an all-in hosting fee of $0.065/kWh, I'd be rolling in Bitcoin. Spoiler alert: I was dead wrong. # The Initial Costs I forked out $56,312.50 upfront: * 65% of the hardware cost: $51,675 * First month’s installment: $4,637.50 * Hosting deposit for six machines: $873.38 (refundable after 12 months) * Hosting prepayment for six machines: $873.38 (first month covered) Then, I had monthly installment payments of $4,637.50 from July 2022 to November 2022. # The Delay from Hell Here's where things went off the rails. The first miner didn't come online until June 30, 2023. Yeah, you read that right. By the time all six were finally hashing, it was the end of 2024. What the actual \[expletive\]? # The Financial Sinkhole These miners were supposed to be my golden ticket. Instead, they turned into a financial black hole. Now, they're worth about $3,500 each. # The Hosting Nightmares Hosting invoices started stacking up as miners came online: * October 2022: $145.56 (1 miner) * November 2022: $291.13 (2 miners) * December 2022: $436.69 (3 miners) * You get the drift... # The Customer Service Dumpster Fire Compass Mining’s customer service is a joke. They didn't keep their promises, and their delays cost me big time. If there's a class action lawsuit against these clowns, count me in. # The Bottom Line I ended up with machines worth a fraction of what I paid and a huge chunk of BTC lost to electricity costs and depreciation. Mining Bitcoin turned out to be a dumpster fire of an investment. If you're thinking about mining, just don’t. Save yourself the pain and stick to buying and holding Bitcoin. Trust me, you'll sleep better at night. Don't make the same mistake I did. Learn from my disaster. Stay away from Compass Mining and think twice before jumping into Bitcoin mining.

Neat_Caterpillar_866

They are still profitable.. run them on ultra low with custom firmware. They get down to 21w a TH which is the same as a s19XP. For reference stock is 34w a TH..

McToadster

Not an idiot is a good way to stack. I have a T19 84th bumped to 90TH @ 3300Watts. I use Braiins pool and make around $3.70 a day. I'm going to miss those $7.00 days for sure. My electric is generally $7.98 a day but I feel its ok I get a low income discount. People say why not just DCA but I get introuble with my addictive personality and buy more then I should. Crazy as it sounds, mining helps me regulate that thrill of buying BTC.

fischer07

I agree... I'll get as much out of my S19 XP 141 TH as possible and then re-evaluate. I find most people think of mining as profits like a business on a month to month basis. I think about it like stacking bitcoin for the future. So I pay the costs out my pocket with fiat, that is my bitcoin price. One day that mined btc will go up on value and justify the costs of today. I may be seeing things wrong but I get the feeling that lots of people aren't seeing the long-term vision. Or I'm an idiot

MrCoinSage

In my country it is, the machines cost $1,500 and currently produce $230 per month. In the United States the machines cost $800 depending on how many TH they are.

tomcusackhuang

You can actually work out how much power that was consumed from the block itself. First, get the target of the block. A 256-bit value that the nonce the miners are brute-forcing must be lower than. This is the value that gets set every 2 weeks, as part of the difficulty adjustment, so each block takes approx. 10 mins to mine. In the case of block 841395, the target was 386085339 (or 0x170331db). Then you split the target into 2, the first bit is your exponent (0x17) and the second bit is your coefficient (0x0331db - You need to prefix with 0x). The target representation is therefore: target = coefficient * 2 ** (0x08 * (exponent - 0x03)) For block 841395, that was: 0x331db0000000000000000000000000000000000000000 An Antminer S21 can do 17.5 joules per terahash (J/TH). joules_per_terahash = 17.5 # An Antminer S21 consumes 17.5 Joules per terahash joules_per_block = (2 ** 256 / target) / 10 ** 12 * joules_per_terahash kwh_per_block = joules_per_block * 2.7777778 * 10 ** -7 Therefore, we can convert the joules consumed to kW's to approximate the amount of energy consumed in the creation of the block. In this example, it was 1,839,495 kW. The price of power is extremely diverse, ranging from 0p to 0.10p/kWh (maybe more?). The network self-balances itself by having miners turn off once unprofitable. I think it's fair to assume that the average Bitcoin miner is operating around 0.05p/kWh (this is a guess). Excluding tx fees, 3.25 BTC were paid out. Therefore, if we divide the tota amount of power used to mine the bitcoin by 3.25, we get the amount of kWh/BTC = 695,370. Then we multiply this by 0.05p = £28,300. So, excluding tx fees, 1 BTC has a basement power input price of £28,300, based on information baked into the block itself. Hope this was useful. Comments and discussion are helpful.

Oheson

500 Sats takes about 2-4 days running a BTC miner at 2TH/s. Put it in that perspective.

SirKermit

The beauty of BTC is that we can know with precise accuracy how much energy it uses because we know the hash rate and how much energy miners use per TH/s on average. Big banks are a black box. Even if BTC did use more electricity per transaction, there is zero transparency in conventional banking, so we can'tactually know. BTC can also be altered by concensus of the network to be more efficient if this turns out to be important.

Self_Blumpkin

Wait a minute. There have only been 282 non-pool mined blocks in the history of Bitcoin? There's no way in hell that's true. In the early days there were TONS of people solo mining. I'd be willing to bet there have been 282 solo blocks solved on ckpool.... Fun fact. I solved a block on CKPool in 2017 :) I had 256 TH/s running at the time. The difficulty of the solve was over 7 Trillion with a required dififculty of ~5 Trillion. I fell out of my chair when I was looking through my miners in Awesome Miner to see the biggest solve submitted to the pool and "Number of blocks solved" equaled "1" The pool runner gives a reward to the person who solves the block. I believe it was .25 BTC. He also gave me a free license for AwesomeMiner to use with my GPU machines. Apparently he had a hand in writing that software.

HSuke

120 TH/s is about 3kW. 120PH/s would be 3MW. That's only like 3000 family homes.

McToadster

Why are all antminers like the 19 series still ridiculously high? My T19 is basically worthless $3.00 a day but sells for $500 and who the hell wants to spend $1800 for a 120TH model that makes .50 cents more? Then there are the used 200TH models for $4500 thats just stupid. Ebay still trying to sell used S9 models for $200 LOL. Ebay sellers are a joke.

random-node

Once per 39 days is an estimate, you can get it in less or more days. The M30S++ gets 112TH/s for you to have those odds it means you own 893 M30S++?

MinimalGravitas

'Lucky' meaning statistically irrelevant in the context we're looking at. What amount of hashpower would you require to on average propose a couple of blocks per year? For Ethereum there are 365 * 24 * 60 * 5 blocks/slots per year, so about 2.6 million. There are just over 1 million validators (literally just hit 1M today), so on average each validator proposes 2.6 blocks per year. If you went the route of a RocketPool 8ETH minipool this would cost you about $33,000 for the stake, about $400 for hardware and maybe $50 per year in running costs. For Bitcoin the total hashrate is about 640,000,000 TH/s. There are about 52,600 Bitcoin blocks per year so in order to have equal odds of proposing 2.6 blocks per year you would need (640,000,000 / 52,600) * 2.6 tera hashes per second... = 31,634 TH/s. That would be equivalent to 135x Bitmain S21 Pros, which would cost about $850,000 for the hardware and draw 470,000 Watts of electricity - equivalent to about 400x average homes!

BitcoinAcc

To push through your own transaction, you would have to be solo mining, not in a pool. The hash rate of an s19 is what, 90TH/s? The whole Bitcoin network is currently at ~600 million TH/s. How many s19s do you have? Let's say 6. Then you would be at 540 TH/s. Let's round them up to 600, for easier calculation. The network would still have a hash rate that is 1 million times higher than yours. So, solo mining with your 6-7 s19s would give you a 1 in a million chance to be the one to find the next block. Averaged, it would take about 20 years (assuming the network hash rate stays the same, which of course it won't). Of course your numbers may be different (more/less s19s). Plug your hash rate in here to see your chances: https://solochance.com/

murkforgian

> What am I missing here? They're not literally the exact same blocks. Thanks to the magic of hashing, changing a single bit in one transaction changes that transaction's txID hash, which changes the Merkle tree of transaction hashes, which changes the Merkle root hash > isn't it likely that many Asic-Miners on the planet run the exact same blocks in the exact same order Except that one of those transactions pays the block reward, and it has a chunk of about 94 bytes which the miner can use for any purpose. One of those purposes is "extra nonce" https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch12_mining.adoc#the-extra-nonce-solution Also, miners are in pools * Each pool has its own address for receiving the reward, so there's no duplication of work from pool to pool * Each miner puts his own miner ID into the arbitrary 94 bytes, so there's no duplication of work from miner to miner within a pool Even if all the other 5000 transactions are identical, very small changes in the reward transaction (known as coinbase) will vary the Merkle tree calculation, avoiding duplication of work --- Note than the nonce is relatively small, 32 bits. It cycles back to zero after 4,294,967,296 iterations. In a current-model 200TH/sec ASIC box, the nonce cycles through its entire range more than 40,000 times per second. To avoid duplicate work, the miner must change the extra nonce each time, and recalculate the coinbase txID hash, and the Merkle root hash

SteveW928

You can up your chances a LOT by getting a small ASIC based miner. see: [https://opensourceminers.org](https://opensourceminers.org) They even have an 'expansion' unit for the popular Nerdminer nearing completion. Or, if you want some bigger units, there are other 3 to 10 TH/s projects under works (and methods of combining them, etc.). If you want, you can even build it yourself. I think it is a great idea to just have a little 15 watt miner always running, constantly buying you lottery tickets. Your chances are small, but the investment isn't huge either. And, you'll be helping to decentralize Bitcoin mining. Everyone should have one of those and a node.

jaMMint

The btc miners do about 640 million TH/s at the moment. 200TH/s is a bit less than one third of a millionth of the total hash rate. Unfortunately you would need around one fifty thousandth to have a good chance of mining a block in a year (and chances drop as hashrate is added to the network). With 60 times less than that and on that timescale of 60 years, the total hashrate of the network would just gallop away from you and it would take thousands or ten thousands of years). Within a miningpool, you could earn something close to 0.025 BTC over the course of a year if you start now.

00_Jose_Maria_00

190TH reporting for duty

Money_Attempt_2017

If You reach 10 TH it's really hard to get into a pool but if you can you'll make way more then your $1-1.30 a day, over time. If the pool you're in gets the win for the block they make around $150, So the lower the members the better the payout because it's split amongst the members based on their TH power. If anyone's interested in joining a pool with a low TH let me know BTC Hash Haven is accepting everyone no matter their TH at the moment Gomining

murkforgian

> the formulas to calculate time it would take to mine a block solo 10 minutes * global hash rate / your hash rate Say you have a 200TH S21 The global hash rate is 676 Ehash/s 10 minutes * 676 * 10 ^ 18 / 200 * 10 ^ 12 = 33,800,000 minutes ≈ 64 years > what does prime numbers have to do with Bitcoin Very little Bitcoin's digital signature cryptography exploits a trapdoor property of some elliptic curves. The trapdoor is known as the discrete logarithm problem At the detail level, using elliptic curves in cryptography involves defining a finite set of numbers - the set of integers modulo p, where p is a prime number See Andrea Corbellini for more details https://andrea.corbellini.name/2015/05/17/elliptic-curve-cryptography-a-gentle-introduction/ https://andrea.corbellini.name/2015/05/23/elliptic-curve-cryptography-finite-fields-and-discrete-logarithms/ and his other tutorials in the same series

One_Boot_5662

Pure nodes dont usually earn any rewards. PoW is unlikely to run well on a server. PoS is going to be fine. Proof of storage, your 4TH drive is small. So for PoS you will need coins of that blockchain, whether it's profitable depends on coin price. The premium PoS network is Cardano. You don't need a huge sum of ADA, in fact you can setup the node with just 502 ADA for registration of the onchain certificates. However to earn frequent rewards every 5 days, your validator would need ~1million ADA, fortunately you don't need to hold that yourself, you can get other people to delegate it to you. But even if you have a lot less, the rewards can still be fine if you have a low cost efficient operation. I run a relay node, but don't produce blocks myself, I delegate to a validator that has 120K ADA, they make a block around every 40 days. There are no lockups, no slashing risks and no hokey smart contracts, it's about as safe as you can get. You will need a block producer and to put that behind a relay, but with a hypervisor like Proxmox you can run it on one machine.

Nostro1968

Can you see where your mining rate in TH/s is located? The one that fluctuates. The trial ending timer is under that. I use the app and press the tab button with the 3 horizontal lines and square box.

Dof_Doej

I have the same message, so I've upgraded my miner, I suppose that the power will decrease of 1500TH after countdown.

EasyRider1975

Not me I dumped all my Bitcoin during peak and will do the same. Thar is how you make money. Holding is a culture that stock investors don’t do. We are past the day of 1000% profits. Hot hodle is honor in the BTC but the successful investors will dump it. I am hodling now hoping it goes up after the halving like in 2022 but some are speculating that it’s another pump and dump. It can crash fast. I invested $50k Canadian in miners and never broke even after the crash. What we I thinking spending $18 000 for some of my ASICS. If I can’t profit after halving they will be shut down. 2 ASICS left 210 TH total. I do use the BTC to pay my hosting bill and the other is running at home connected to heating intake to offset the cost of electricity and recycle energy

JustModd

So ive put in around £30 in it and have 4.5 TH/s running (includes 1.5 TH trial), and im worried because i see alot of videos on youtube of these fake looking yt’ers with fake comments and botted replies promoting the website, which just makes me feel scared if i just lost my money. and apparently they only keep the websites up for 90 days and then shut it down, idk tho, some review said that and that the ceo was apparently the owner of some other previous company or website like this. But im 50/50 on whether its a scam or not, im here finding out from you guys.

btccloudmining

Hey need passive income? well join our Bitcoin Mining Pool with powerful mining power reaching 575(TH/s) allowing you to achieve high mining profits and returns on investment. Please Message me for more information.

McToadster

I just overclock my T19 84TH to 100TH and hug my cat!

coconutmonkfish

For those who don't think this is a realistic situation, it really isn't far fetched. A few years back, I lost my bank cards upon flying into Thailand. When I called my bank for a replacement that night they told me I'd have to officially change my address to Thailand, which would require me to fill out paperwork govt required paperwork that states I'm now living overseas (basically it was gonna be a real mess to do so). Besides, I didn't have a stable address and was backpacking and moving place frequently. Long story short, I had a replacement card sent to my parents who then mailed it to a post office in TH. I was without access to money for 4-6 weeks (I can't remember how long exactly.) Anyways, in this situation I definitely would have considered selling some of my btc to survive.

moonstone4759

> Why would any miner keep mining? Because they have a logical view. Only half need to quit, so that the halved reward is spread among the remaining half - equilibrium. So the real world changes your question to "what separates the quitters from the stayers?". Given that they don't all have identical business finances, that's complicated. I might guess that in the current environment, those who have upgraded to the 16J/TH efficiency miner will stay, those stuck on 28J/TH miners will quit immediately (should have upgraded in 2023), and those on the 21J/TH devices will hang around to see if someone else quits first If the price falls, things get more drastic. The miners with differential electricity pricing contracts will quit because they're not full-time, so their earnings are too low for their depreciation write-downs. The miners who borrow to buy equipment will quit because their loan repayments eat all their earnings Then, a final shakeout: those paying $0.06/kWh will remain, those paying $0.08 or more will quit The only significant miner shakeout in Bitcoin's history was not caused by any halving, but by the 2018 price fall. It took six months for the hash rate to fall after the price fell. That's a clue to the level of reserves the miners held, allowing them to mine at a loss It's not 2018 any more > miners are operaring at marginal profit due to the difficulty adjustment algo that ensures that the cost to mine a block is roughly equal to the block reward Well, no The difficulty adjustment keeps the average block interval at 10 minutes. This limits block creation to 144 per day, and the daily reward to *144 x block reward* per day (plus fees) There's a fixed daily reward amount, now 900, soon 450 The miner's business is in the fiat economy. The fiat value of his reward earnings has to be higher than his costs. His main cost is electricity The effect of the fixed daily amount is to make mining a folly of diminishing returns. Unlike tangible mining, more miners do not increase the mined amount. Instead, they reduce the amount earned by every miner. That's the cause of the slim profit margin. Miners stop joining when the reward per miner is too low to reduce it further. And the miners with the tolerance for the lowest possible profit margin define the margin for everybody > less miners means less network security No Bitcoin is secured by its node network. Bitcoin mining provides a service to the nodes - separating the blocks by 10 minutes The reward isn't strictly a reward. It is coin minting. The newly minted coin is awarded once per block because that's the best no-bias, no-manipulation way to release the coins. The coin minting schedule is defined by halving every 210,000 blocks, 33 halvings, and halving from 1Sat to 0Sats at the 33rd halving (block #6930000). The schedule was defined at launch and has never changed

theprincessofwhales

If you have free electricity guaranteed then you could get nearly 2000TH with something like 5 S19+ hydro and have a few grand left over for racks and cooling. That will eventually lead to a lot more bitcoin then you could get at today's current USD price. However it's gonna take a while and a lot of work and would definitely be a whole other ball game without free energy. There's also a bitcoin mining sub where you could ask this.

Past-Presentation389

I also created 3 accounts. I deposited money into accounts 2 and 3. Account 1 got the 7% of the TH/s from account 2 and 2% from account 3. Account 2 got the 7% from account 3... so that works too. In addition, account 1 is now also able to make withdrawals because it is now considered premium "according to minethrive". But I will see in the future whether everything works out like that.

wh977oqej9

Just rough calculation. Let say you buy 200TH miner for 5k$. Electricity costs 0.15$/kWh. You earn 300$ per month, so you would need at least 17 months for break-even. You would earn \~5mBTC per month. You would need 33 years for your 2BTC (and that's with current reward) :-))) I can be still profitable, if you have cheap source of electricity, like solar panels, but that also costs to build. But forget 2BTC...

McToadster

I’m pushing my T19 84TH to 99.44 TH so boosting standard 3150 Watts to 3630 Watts temp is 67.5 Celsius. Am I crazy doing this?

theprincessofwhales

You can yes but I don't think you learn as much. You can get a used s9 for under $200 and achieve something like 14 TH 🤷🏻‍♀️

darkjediii

Yeah the newer ASICs are actually not that much powerful than the new ones, though consume less energy per TH/s

uetzl

it looks like thailand is pursuing a sustainable strategy for crypto investments. i heard in another article that you can only get the taxes back, but you have to pay them first. but that may be outdated by now. however, there is still a tax liability for deposits from abroad for a stay of more than 180 days per year. Unless you can prove that they have already been taxed abroad. The question is which exchange to use. Binance TH should now also be possible, but I don't know if it is already approved. Otherwise there are bitkap and satang exchanges.

irisuniverse

You probably should have some ASICs and if you get a few terahash, it’s statistically more likely to find a block than win the lottery. You can get a 30-40 TH space heater that uses around 800 watts. With 35TH, the chance of finding a block is 1 in 114k per day or 1 in 16 million per day. Much better odds than the lottery. With the energy cost per day it’s like buying a lottery ticket every 10 minutes for a few cents for chance to win over $400k

boydie

Double the TH output

Useful_Transition_83

I was leery about it too. I put in a minimal amount and then when I got to the minimum for withdrawl I tried it and it worked, so I'll put a bit more in but something still worries me. It seems too good to be true, their prices are too low. It's about half the cost of Gomining TH upgrade rates.

murkforgian

You're right. It's hard to find breakdown photos for newer boxes, but I've read that the lastest Antminer has 3 hashboards, about 130 chips on each board, and a beaglebone or similar low-cost single-board PC doing all the non-hashing work, like recalculating the left branch of the Merkle tree every time it changes the extranonce in the coinbase txinput (every 4 billion hashes), changing the timestamp every second (easy), updating the block and header every time a new candidate block is sent by the pool, and all the pool communications It wouldn't surprise me if they're putting 2 or more control boards in, now that a lot of the boxes are well over 200TH. Since all the processing is parallel, it would be easy to have one control board per hash board As long as the control board can do all its things during those 4 billion nonce iterations, hashing never slows down

murkforgian

A pool does not provide auditable proof that its distribution calculations are fair and accurate If a miner is being paid less per TH than the current global rate per TH, he can talk to other miners to see if other pools are paying more. It takes 5 seconds to switch to another pool

Mattie_Kadlec

Yeah, that’s very much what Mark Zalan said as well. Also, expecting mining companies to not be prepared for such events is a bit foolish. It seems that GoMining only thinks about expansion: > As we mentioned before, we are committed to maintaining all of our over 28,000 ASIC miners, which are distributed among nine GoMining data centers worldwide, at the forefront of progress. > According to our strategic plan, we aim to nearly double our existing hash rate in the next few months, reaching a milestone of 5,000,000 TH/s.

SaltLifeDPP

Similar story. Back in the 2017 run my portfolio valuation was around 12.5 BTC. It is... Now significantly below that, both in terms of BTC and USD. I got starry-eyed and invested in "the next °TH" and once tried to rescue a losing position by doubling down. Now I'm almost 100% a Bitcoin maxi. Hoping that, this cycle, *with scars come wisdom.*

Areshian

So, if I'm not mistaken what you suggest it that right now we do `f(x + y) = z`, with `f` being the hashing function, `x` the block, y the random number the miner guess and `z` a number than needs to be lower than the difficulty target. What you ask for could be done by doing `f(f(x) + y) = z`, that way, you only compute `f(x)` once and then the calculation of `f(f(x) + y)` is faster than `f(x + y)` right? Let's assume that everything works as expected and now computing `f(f(x) + y)` is basically ten times faster. What do you gain? All those improvements in speed will just quickly make the target difficulty to increase, so we still produce one block every 10 minutes or so. All the miner machines will produce ten times more TH/s, but finding the proper block will take ten times more hashes to do it, so nothing will really change. Any efficiency applied to the algorithm (or hardware) will eventually translate into an increase of difficulty until equilibrium between cost (electricity) and rewards is found again

Only-Tonight7010

Paid $26 for 1 TH and waited 4 months to accumulate the 0.00010000 BTC limit and it withdrew automatically to my hot wallet. Once I saw that it actually worked and wasn’t a scam, I paid in BTC for 500TH which pays out around 0.00032450 daily

caploves1019

I use LNDg under the batch channel open option. I haven't been able to do so with TH or RTL.

Financial_Clue_2534

Depends on how cheap you can get these solar panels. One of the top of the line miners out is the Antminer S21 195 TH/s | 3600 W $6,000 You can make roughly $16 a day which is like $460 a month for one of these miners. When the halving happens cut that in half. Now it depends on the price of bitcoin. Ultimately it comes down to what we all think the value of BTC will be in the future. If it’s going to hit 500k-1m the we will look back and say why are we even discussing this it’s a no brainer.

kombosorg

Right now with setup like that you will probably lose over 1000USD each year for electricity mining nothing. I've just put 1k in ASIC miner having 4TH/s and I don't expect any income just for fun.

Regular_Chapter_788

Looks like you got scammed >Scam Scam. Look up their address, it will show you. 7 Laurier Rd, London, England, NW5. Just a residential townhouse, not a business. Their business license expires in November this year, registered as an advertising agency. Fraud alert. FTC has been reported to as well. Not playing any games with these clowns. >Date of experience: 04 February 2024 >Absolute scam bags Absolute scam bags, don’t even deserve the 1star. No withdrawals no feedback from scam hunter. Do not invest, all the people leaving good comments are getting paid to leave them… I say again people “DO NOT GIVE YOIR MONEY TO THESE SCUMBAGS” cause you will get nothing back in return… no pay day no feedback from scamhunter, no nothing… good luck in your investing, just don’t put your money here >Date of experience: 15 February 2024 >Company adress dosnt exist So I Googled there ceo... Same name was done for fraud... I also Google there company adress it's a housing estate in London .... And I've purchased 85 TH roughly 560 pounds and hit with the same thing everyone else is telling me.... I have not been able to withdraw at all yet due to the high btc load....they owe me 500+ >Date of experience: 17 February 2024

IcyCauliflower9987

No, for $25 you missing a few dollars to get 1TH at 35W. The more TH you get, the less cost per TH but that’s like usually buying bigger ASICS will cost more upfront but be more fruitful. You get your share of the rewards, BTC. You can set what’s the threshold for you to receive those BTC in your wallet. Some wait a month to pay fees only once some decide to get their rewards everyday with a minimum required. You do not have to interact with the token, but having it and staking in gives you some “vote” and get you a voice in the company. But again, you can disregard the token completely. You can even use Apple Pay. The ROI is obviously not guaranteed, and they talked about the halving which will most likely cut profit in half and let us know that above a certain W, profit could be 0 for a while. The minimum is $26-$27 at the moment I believe but you just buying a part of their mining power, so it’s really up to each individual to see what amount of power and what efficiency they want and can afford. It’s not much different than traditional mining except the fact that it’s way more accessible. Either way I’ve had my answer, talked to the team and the best in my situation is to indeed buy and hold the coin, wait out see what’s best for me later on.

Halo22B

So....your being pitched a scam. Just for a reality check. You can buy an S9 for 25-50$. It produces 13TH and sucks about 1300w an hour. It makes a dollar worth of Bitcoin but requires 3$ of power (at 10c) it doesn't start being out of the red until you get to 3c power. You then add in "Tokens" as well as some aggressive sales pitching to "upgrade" and finally they are willing to forecast massive increasing ROI going in to the halving. Do what you want but I would be taking that 269$ and just buy and HODL

TissueUnflawed

Each miner earns in proportion to his hash rate If the global hash rate is 513 million terahashes per second, a single 140TH/s ASIC device earns 900 * 140 / 513 million = 0.00024561 BTC per day That assumes 24/7 mining. Some of the largest miners are part-time, due to contractual constraints on their electricity access

TissueUnflawed

If mining becomes unprofitable, some miners quit. The reward is then shared between fewer miners. Mining is profitable for the miners who didn't quit. This mechanism goes all the way down to a few miners with a few TH/sec hashrate between them

jony_be

Mining rigs are too loud. and at that energy price, you're gonna end up paying waaaaaaay more than 100€. Bitcoin Miner S19j XP - 3,473 $/Unit Hashrate, TH/s 151 Power on wall u/25°C, Watt 3247 ±10% at 20cents/Kilowatt you're losing 127€ per month not taking in consideration maintenance costs lol This is what you want https://heatbit.com/

flibux

Sure you can... How many you need and if it's efficient... who knows. Gas will be cheaper. but I'm a bit surprised you pay 100EUR a month for such a small flat. Say you use these oil radiators that plug into outlets. Probably 1-2 would be enough to heat your space. 2 to be safe. Not sure exactly how much they draw, say around 2kw each but only will be on 30% of the time if at all. That's a good starting point for your calculation. An ant miner s21 has 3500kW and 200TH. That'll draw 14.5A so needs a proper socket, possibly two I'd assume. (13A per socket normally) 3.5kW \* 24h = \~84kWh/d. so that's EUR 17/d ... times 30 will be around EUR 500 per month. I'd assume it'd heat your space nicely but no guarantees :-) And not sure about the noise.

TissueUnflawed

These all or nothing hypotheticals make no sense. Some retire, some keep mining, new miners arrive The hobby version of mining would have thousands of abandoned ASIC boxes being scavenged for parts, and about 1,000 hobby miners hashing at 1TH https://github.com/skot/bitaxe Bitcoin does not need 4 million 140TH mining devices to make six new blocks per hour

eggaholic69

Even though the reward goes down, they still get paid fees and will continue to receive fees even when there is no reward. With more users doing transactions over time, both transactions per block and fee per transaction will go up. I have no idea what the dropoff for miners after halvings actually is after fees, but we can just manually track it. According to nicehash's calculator, they pay: $7.45 per terahash mining bitcoin, or .00000174 BTC/TH. Check on it after the halving and see how it gets affected.