How much it costs to mine one BTC in 2019

atp1916

[H]ard|DCoTM x1
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Jun 18, 2004
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'The most cost-effective way to mine Bitcoin in 2019 is using application-specific integrated circuit (ASIC) mining hardware. '

lol
 

MyNameIsAlex

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Mar 10, 2019
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313
'The most cost-effective way to mine Bitcoin in 2019 is using application-specific integrated circuit (ASIC) mining hardware. '

lol
You thought that was funny? How about this

"
Finding ways to lower your electricity costs is one of the best ways to improve your mining profitability. This can include investing in renewable energy sources such as solar, geothermal, or wind — which can yield increased profitability over the long term."

Yeah, let me just invest 250 million in a new geothermal plant, then I can mine for bitcoins in 20 years... is this guy kidding?
 
Last edited:

Kardonxt

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Apr 13, 2009
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3,155
That's a reeeeaallly long article to say nothing has changed since ASICs killed GPU mining. Unless you are one of the few who receive an early model of the latest and greatest \ most efficient ASICs, and continue rotating out older units, you will never reach ROI.
 

MyNameIsAlex

Limp Gawd
Joined
Mar 10, 2019
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313
That's a reeeeaallly long article to say nothing has changed since ASICs killed GPU mining. Unless you are one of the few who receive an early model of the latest and greatest \ most efficient ASICs, and continue rotating out older units, you will never reach ROI.
It read like one of those papers you do in junior high when you run into a 5 page requirement but you finished in 2.5.

I mean seriously, he is advising people to invest in building small towns, importing labor force, and establishing hydroelectric dams so they can pay less for electricity? Come on dude.

And then he goes on and on and on and on and yes we understand electricity is different price in Kuwait and NEw York we GET IT ALREADY!!!!:mad::mad::mad::mad::mad:

EDIT: Funny thing is I know next to nothing about mining and I still learned NOTHING! LOL! How bad do you fuck up?
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
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10,036
It really feels like ASIC miners are priced so you also have to see the entire crypto market double before ROI within 3 years is viable.
Nearly any Bitmain miner will make money if you get in on the first batch. Second and Third batches only make money if the coin’s market get stronger. (Which is much much riskier)
 
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Joust

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Nov 30, 2017
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Nearly any Bitmain miner will make money if you get in on the first batch. Second and Third batches only make money if the coin’s market get stronger. (Which is much much riskier)
This has been my observation almost exactly.

Third batch is very, very risky. Or was risky. Now? A fool's errand. The strategy that I witnessed the most profit on - but did not do myself - was to get in on several ASICS on the first batch and flip them to those unwilling to wait on the second.

Even then, there were significant supply and delivery ...risks... associated with that plan.

The culprit? "A couple of Nissan SR20's would pull a premium one week before race wars." At least, that's what I think.
 

compgeek89

Limp Gawd
Joined
Nov 30, 2018
Messages
143
You thought that was funny? How about this

"
Finding ways to lower your electricity costs is one of the best ways to improve your mining profitability. This can include investing in renewable energy sources such as solar, geothermal, or wind — which can yield increased profitability over the long term."

Yeah, let me just invest 250 million in a new geothermal plant, then I can mine for bitcoins in 20 years... is this guy kidding?
I think throwing a "green energy plug" is just compulsory, reality of the situation notwithstanding.
 

OhSigmaChi

Limp Gawd
Joined
Jan 27, 2019
Messages
194
It read like one of those papers you do in junior high when you run into a 5 page requirement but you finished in 2.5.

I mean seriously, he is advising people to invest in building small towns, importing labor force, and establishing hydroelectric dams so they can pay less for electricity? Come on dude.

And then he goes on and on and on and on and yes we understand electricity is different price in Kuwait and NEw York we GET IT ALREADY!!!!:mad::mad::mad::mad::mad:

EDIT: Funny thing is I know next to nothing about mining and I still learned NOTHING! LOL! How bad do you fuck up?
Kinda depends on where you live and how you're situated. My uncle runs an entire private logging mill off of diverted mountain stream (you can easily jump across it ) into an extremely "redneck engineered" hydro power station. So I guess if your property has some small amount flowing water you could in fact use hydro electric power to mine.

When I lived if West Central Texas I ran my beer fridge in my garage and my attic exhaust fans off of a couple of ebay solar panel me and by buddy installed on the roof for about $250.

My friend in Oklahoma cut about 10% off of his electricity bill with an ebay wind turbine on a 25ft tower.

I guess land really is the basis of all wealth, even if you're bitcoin mining.
 

pclausen

Limp Gawd
Joined
Jan 30, 2008
Messages
458
I'm still mining away earning about $38/day right now. I have been slowly expanding my solar farm and am now at around 50 kW, which is maxing out my 225A dedicated solar sub-panel. My power transformer is also rate at 50 KVA, so I'm good with not expanding further. I'm running 55 GPU's spread across 10 rigs that consume around 9 kW between them 24/7. My solar farm now covers that 100% and then some.

All my rigs are in a detached building so the AC in my house is not trying to cool the rigs, I have have a pair for of commercial 3-phase fans that I run at whatever RPM is needed to keep the GPUs cool (use much less power that way).

As a bonus, in the winter time, I move some rigs into the house as they provide all the heat I need.
 

Archaea

[H]F Junkie
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Oct 19, 2004
Messages
10,036
pclausen

What are you mining these days. Nice hash has pretty poor returns and I don’t see that much better elsewhere?
 

pclausen

Limp Gawd
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Jan 30, 2008
Messages
458
Zcoin (MPT algo) on MintPond. Right now I'm at $39/day. If I switch to NH doing GRIN31, I'd be around $34/day or so. Margins are slim for sure no matter what you pick.
 
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