Is there anyone around who has set up a bitcoin mining farm or has owned one in the US? I'd love to hear about the specific costs involved in starting a bitcoin farm and how many miners you have running. This info could really help folks who are thinking about mining on a larger scale. Appreciate it!
Details on setting up a mining farm
7 replies 275 views
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#2Nov 23, 2019, 07:30 AM
Why should people do that for you?
That knowledge has value.
Look up Scott Offord
https://www.build-a-mine.com/son/
take his classes
I operate a handful of small farms. The smallest has 22 miners and the largest currently has 37 miners. The most expensive setup cost me approx. £10,000 ($12,600) and the cheapest came in at approx. £7000 ($8,800). These costs cover everything except from the miners themselves.
SwiftOrbitSenior Member
Posts: 540 · Reputation: 1604
#4Nov 24, 2019, 02:47 PM
If it were a small setup, yeah maybe one could get advice here, so something under 30KW, you need the room, the air flow, the electric cables, the whole breakers and stuff is pretty simple to one point, msot tutorials here would help him get the idea.
But for a full plan of a mining farm once we go over 100 gears and close on 1MW it's OP who before finding out the cost should come with an $ offer for the planning! "Detailed" cost, are we going to quote eveything here, land, rent, taxes, wages, permits, price of materials, handymen, etc etc? Common!
Also, Scott is at least sincere:
Since you're first quote is in £, you're UK based?
If it's not a trade secret, what rates you have for kwh? Just curios since I'm crying in eurocents here!
Stompy, how is it possible that you have not stumbled upon danieleither's posts before?
OP. what size are we talking about here? 5 miners, 50 or 500? the cost is different, the plan is different, and everything is different.
But isn't that what we do here? help people with what we know for free? I have been posting in this board for 6 years or so, and never charged anyone for the help and knowledge I share unless they want to pay for it themselves, obviously, if OP wants a full plan then that's a different subject, but if it's just a general question of how much will wiring cost for 50 gears, or what size of transformer would they need, I think many including yourself will be willing to help.
SwiftOrbitSenior Member
Posts: 540 · Reputation: 1604
#6Nov 26, 2019, 03:21 PM
I'm getting old, I was so sure he was from the US, I don't know why the whole s21 cable discussions made me think even more so..
Now I'm wondering who am I forgetting right now and who was I mistaken him for
You're mikey right ?!?
Well, OP came asked and ...
But the reason why I also said his request is going to cost him is because he said "list your detailed cost of building"
It's one thing to tell somebody you need 100m of cable, you need a transformer you need x and y and a completely different thing listing the cables at price perm, giving him quotes on the price of transformers by supplier and factoring in even the price handymen have per hour.
hodler2019Legendary
Posts: 2182 · Reputation: 12913
#7Nov 26, 2019, 03:52 PM
my detailed cost of the farm in clifton.
would take over a week to create.
and since it involves a 1.2 megawatt (daily produced power not hourly) solar setup it would not apply.
If he wants to know info details.
He needs to tell us what he wants to spend.
1 unit
5 units
10 units
50 units
100 units
all differ in details.
I can only give info up to a 100 unit farm burning around 300 kwatts.
The mining game all starts with electricity costs. Are you able to fund your operation in a way that will allow you to keep expanding with more and better (more efficient) miners? do you have existing cashflows or you would need to enter into debt?
Examine your assets and liabilities and try to predict what the expenses will be vs expected returns, if numbers check in then give it a try. And if you do go public, then I would advise against diluting shareholdings unless you have a clear path that explains why this temporary loss in price per share will be worth in the future, otherwise these things tire investors (see the ongoing MARA case, amongst many other public miners). But im assuming you just want to mine privately as a hobby.
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