I just sold off all my graphics cards for crypto mining a few days back. Some I sold at a loss, but a few brought in decent cash. Now, I'm all about Bitcoin and kicking myself for not focusing on this back in 2021 instead of getting tangled up with GPUs and Ethereum.
I've got $15,000 to invest and I'm on the hunt for a reliable ASIC miner. The thing is, I live in a remote country where tech isn't a big deal.
I’ve always been against ASIC miners because I worry about repairs honestly, nobody here has a clue how to fix them. So I'm looking for something super durable that won't let me down. I’ve heard some models are known for power issues, so any advice would be greatly appreciated.
Excited for my journey into ASIC mining
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There are no such ASICs, because the risks of equipment breakdown are always present.
And the more expensive your ASIC is, the more risks you have.
For example, C9/S9 were quite reliable and maintainable, and even an engineer with very little experience could make a modular replacement and assemble one worker from two non-working ASICs. Some of my colleagues lost money because they bought asics, but did not install power stabilizers from problems in the mains. And in the village, cheap electricity and frequent problems with power supply. If you were my friend, then I would recommend that you buy bitcoin, because there are fewer risks.
So the risk of a faulty Asic miner is always present? Thanks @FP91G, by the way is it that hard to repair an Asic miner? I did some research yesterday online and I found out that some parts are switchable, like Complete board, Complete PSU etc
Is there any stores that sell Asic parts where someone can just easily order for faulty part?
You can engage in modular repair when you have at least 15 ASICs and the price of the module and the price of its repair are approximately the same. And how many modern ASICs can you buy for $15,000?
https://www.asicminervalue.com/miners/bitmain/antminer-s19-xp-140th
For example, you buy 3 ASICs, and you have to wait for 2 of them to break, and halving in about 15 months.
atlas_laserMember
Posts: 22 · Reputation: 238
#5Jul 7, 2018, 09:11 AM
You have done good and not good at some points. You should have sold those miners that are much old and was loss to run. And also if you have sold all miners than you can buy Antminer S19 pro that can generate a decent amount of money too.
And also Antminers are very very expensive and that's why I think that only Bitcoin mining is good cause in future it will give us good profit in next bul run.
No one really? or you have not found someone yet with that technical knowledge. If you say there is no one around who has some knowledge on repairs on ASIC's miners, it may mean that there are no individuals who are mining bitcoins in your area, and that is unlikely, there should be at least one other person who is mining bitcoin in your city, your responsibility is to find out and reach out to them to share some knowledge on how they have been handling the challenges with mining in your city, especially with repairs and fixes for your ASIC's
Read maintenance and care tips and adhere to them, your ASICs may take a while to develop faults.
That is quite expensive. If the price of the module is approximately the same as its repair can't there be any improvised module that are compatible?. And how on earth can a single miner own 15 ASICs it will take almost an entire lifetime of mining. Mining will be challenging for someone in far away Africa because the will limitations of ASIC parts and it mean spending more on getting more ASIC miners to serve as backup incase of breakdown.
just_ledgerFull Member
Posts: 96 · Reputation: 672
#8Jul 10, 2018, 01:28 AM
The latest models are the most expensive, look at one generation behind, instead of the XP the j Pro, or instead of the M50s the M30s. Slightly less efficient, but much cheaper. With that money you should get about 10 of those and net about 1PH/s. I know people farming in Africa in some remote region at a hydrodam with sat link etc...
I will be happy if I can find someone, in my state no one can repair Asic miners and you will mess up if you give an Asic to those that repairs electronics like TVs or Sound system, they will add to the problem.
Not everyone knew about crypto mining here and those who are into crypto and Bitcoin don't even bother about mining, I guess that's because of the bad grid power, that's even why I set up solar power in the first place but thanks for your concern.
This incident is exactly where I live, when the ASIC started to malfunction we had to start looking for a new one in online stores as there was no technician available to fix it. As far as I know, there are almost no shops selling mining equipment in our area, meaning we have to go to other capital cities to buy them. It is this difficulty that keeps mining from developing in the area where I live.
Stable electrical energy is needed in mining, room temperature also has a level that must be considered, if you use electricity from the government it is more risky for mining equipment, because unexpected power outages often occur, this is the reason mining requires large costs because supporting tools cannot tricked in any way.
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