I have wanted to mine Bitcoin for a very long time...
I figured it would be too expensive to buy all the equipment needed and then also cost a ton for Electricity to keep it running.
So I decided to dig a little deeper.
I found this really good Article...
Beginner´s guide to mining Bitcoins: How to mine Bitcoin step by step:
https://www.masterdc.com/blog/how-to-mine-bitcoin-beginners-guide-to-mining/
Which then led me to this little rig which costs about $ 7,125 ...
It explains how much you could earn per month with this Miner and also shows the costs for Electricity. See below :
Bitmain- Antminer S19 Pro (110Th)
Description
Model Antminer S19 Pro (110Th) from Bitmain mining SHA-256 algorithm with a maximum hashrate of 110Th/s for a power consumption of 3250W.
Profitability:
Period ........ /day ........ /month ......... /year
Income........$42.12 ....$1,263.62 .........$15,163.43
Electricity ...... -$9.36 ...... -$280.80 ...... -$3,369.60
Profit ...............$32.76 ...... $982.82 ..... $11,793.83
Algorithms
Algorythm /day
SHA-256
110Th/s 3250W ......... $32.76/day
https://www.asicminervalue.com/miners/bitmain/antminer-s19-pro-110th
Specifications
Manufacturer Bitmain
Model Antminer S19 Pro (110Th)
Release May 2020
Size 195 x 290 x 370mm
Weight 13200g
Noise level 75db
Fan(s) 4
Power 3250W
Voltage 12V
Interface Ethernet
Temperature 5 - 40 °C
Humidity 5 - 95 %
This wouldn't be so bad if you owned a river. Canada is probably one of the best places in the world to mine bitcoin. I think the longer you wait the more difficult the mining will be. My wife would hate this set up, but it looks like you got the land and actually you wouldn't need a heater in your house anymore.
I’m going to do some more research. I think I’d rather just buy $7,000 worth of Bitcoin on the next big dip....
It's so hard to figure out if you are at the start of a dip or the bottom of a dip. Good luck
I have always sided with GPU mining. Most RTX prebuilds will pay for themselves in a year! The 3060ti is the sweet spot right now.
Are you mining right now ? How much bitcoin could I mine in a month ? Hydro rates are high in Ontario... I’m looking at Nicehash ... is that the best one ?
I am mining ETH and Raven right now. GPUs are tough to get right now so I would start with a good PC with an RTX 3060ti. It is low power and pays well. The PC will pay for itself in less than a year. I use 2miners.com. Better payout than Nicehash in my experience. There is a GPU calculator on there too.
We only have a Mac here at home ... and a few iPads. If I am earning $500 USD a month from blogging on Steemit and Blurt is that about the same as I would make from mining Ethereum on a PC ? Maybe I will just stick with blogging ....
Good point. You do have to become an IT person for mining!
I am definitely not an IT person... I’m just an artist who likes to make videos on YouTube and HideoutTV
I am mining ETH and Raven right now. GPUs are tough to get right now so I would start with a good PC with an RTX 3060ti. It is low power and pays well. The PC will pay for itself in less than a year. I use 2miners.com. Better payout than Nicehash in my experience. There is a GPU calculator on there too.