Buy Bitmain S9 Antminers - but only accept bitcoin cash - what exchange to get BCH

The S9 is in stock for $2320 USD. It would take me 4 months to break even on this (including electric). Do you think it's worth buying?
 
Actually. Now that I'm doing the math, it doesn't look like it would ever be profitable for me (at .40 kWh for me if I use that much power).

It could bring in $800 gross per month, but with over $350 in electricity cost, so around $450 profit. However, with difficulty increase, this would slowly reach zero and end up losing in the long run (due to my insane electricity cost).

Unless BTC really shot up to offset the difficulty jumps, I'm not sure it would make sense.
 
cybereality said:
Actually. Now that I'm doing the math, it doesn't look like it would ever be profitable for me (at .40 kWh for me if I use that much power).

It could bring in $800 gross per month, but with over $350 in electricity cost, so around $450 profit. However, with difficulty increase, this would slowly reach zero and end up losing in the long run (due to my insane electricity cost).

Unless BTC really shot up to offset the difficulty jumps, I'm not sure it would make sense.
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$0.40/kwh?! Where do you live?
 
oblox said:
$0.40/kwh?! Where do you live?
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I'm in California with PG&E. They do a tiered plan that starts at $0.13/kWh but goes up the more power you use (meaning, more than an average household) and caps at $0.40/kWh.

Sadly, even one 6 GPU overclocked machine is enough to reach the highest tier (my bill was $350 that first month). I've since heavily power limited that machine, so my cost is only an additional $50 from what I normally pay for the rest of my place.

Meaning, I can't build another miner, unless it was seriously profitable to the point that I could eat the electricity cost. Which is unfortunate, because I definitely want to invest more in mining but the overhead makes it difficult.
 
cybereality

What about commercial electricity drops? Do you have your own office you could drop a dedicated line into and pay that way instead? Sometimes commercial electricity is MUCH cheaper per kilowatt hour than residential. For instance in Kansas City during the winter our electricity is only .06 per kwh during the winter (and .14 per kwh during the summer) for the top tiers of residential, but .02 during the winter and .06 during the summer for commercial.
 
cybereality said:
I'm in California with PG&E. They do a tiered plan that starts at $0.13/kWh but goes up the more power you use (meaning, more than an average household) and caps at $0.40/kWh.
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Man that sucks. I live in Virginia and we're just the opposite. When I didn't use a lot of power (before I started mining), I was paying $0.12/kWh. Now that I'm using a lot more (12,000 kWh/month), I'm down to $0.10/kWh.
 
Archaea said:
Do you have your own office you could drop a dedicated line into and pay that way instead?
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Probably get fired if I tried to mine at my job, but I should look into commercial spaces. Maybe I could buy some busted up space with cheap power and just start a farm. Hmm...
 
cybereality said:
Probably get fired if I tried to mine at my job, but I should look into commercial spaces. Maybe I could buy some busted up space with cheap power and just start a farm. Hmm...
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Might it even be an option to get a commercial line to your house?
 
I rent my apartment, and the management here is super anal about any sort of modifications to the place. They won't even allow you to put a plant outside your door.

But, I see some small office spaces for around $600-800/month on Craigslist, they claim utilities included. *If* electric was free, I could get a bunch of ASICs and/or mining rigs and easily pay for the rent. But I guess they won't allow mining or find the high electricity suspect.

I wonder, maybe some of them wouldn't care as long as I paid the rent on time. I'll have to dig into this more.
 
Actually, I may be able to make this work at my apartment. Feel like I fool now, because I didn't investigate the other plans my electricity company offered.

I just switched my plan. Instead of a fee based on usage, it's just based on time of day. It would be as low as $0.21 during winter non-peak, or as high as $0.36 during summer peak, but it doesn't change with how much power I use.

I think this should make it manageable. I mean, still not cheap, but certainly not the $0.40/kWh highway robbery I was paying before. Can't believe I didn't look into this more before.
 
yeah, most of the time, the utility companies don't tell you that there are "better" plans - have the same problem here in TX with the deregulated crap. There's limited companies providing generation / lines, but a billion re-sellers for the actual KW/h ....

I miss TVA sometimes...
 
I bought one. Supposed to ship in March, hopefully things will still be looking good by then.
 
They were in stock for a few minutes at 1AM last night PT (or 5PM in China). I was literally on the site pressing refresh for 30 minutes straight and got lucky.

What I did was follow them on Twitter, and then set an SMS alert whenever they posted so I got a text message on my phone. They gave about a 2 hour heads up before they went live.

https://twitter.com/BITMAINtech

Luckily, I was able to buy Bitcoin Cash instantly on CoinBase w/ my credit card, and it was no problem making the transfer. Also, I put in an order for the power supply first (an hour earlier) so I was able to create my account, enter my address, etc. so when the S9 went live I could just hit buy and go.

Sorry I didn't share on here, I knew they would sell out fast and wanted to play it safe.
 
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New S9 batch up for order tonight at 7PM PST (and another at 1AM). See the tweet here for details.

 
Not sure. The batch I bought is supposed to ship in March (but some people on earlier batches got theirs a month early, so maybe I'll get lucky).

Currently running NiceHash on one of my rigs, 8-core Intel and GTX 1080 SLI, and I was getting $16/day, but my room was getting too hot. I have it power limited 50% and still getting $13/day, I'll see if that's cool enough for me.

At this rate, it will be making almost as much as my 6x 1060 rig (on Ethereum), kind of silly I didn't realize I could put the machine to use earlier. I was getting similar profits on my Vega rig, but the old driver NiceHash wants you to install wasn't working well in games (Crossfire) and I do use this machine for gaming too.
 
So between these, Baikal's, and Obelisks....Just a matter of getting a hold of one of them and deciding what you want to mine?
 
I feel like the S9 is the best buy because it's mining Bitcoin, and that's basically the gold standard right now. Mining alt-coins looks more profitable in the short term but I feel like Bitcoin is a better bet.
 
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Hmm.. looking at it now on NiceHash, the S9 is only pulling in something like $15/day. It would take 6 months just to break even (not even accounting for difficulty increase, etc.).

I don't know, I think I may just sell it when it comes. Probably be able to get like $4,000 on ebay for the S9 and power supply. At least I'll get some return there and not deal with the risk.
 
Yeah, mine are down to around $13.20 each today. Of course BTC being at $10k is the main reason for this, although there was also a recent difficulty adjustment.
 
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