Hey everyone,
So, as the title suggests, if you had $100k to put into BTC mining hardware, how would you go about it? I’d love to hear your ideas on where to set up, hosting options, maybe splitting the investment between different miners like S19s and M30S+. What about buying hashpower instead of actual hardware? Here are a few things to keep in mind (and I’m here to answer any questions if you have them).
I’m based in the UK but open to hosting in other countries, especially the US. I’m currently thinking about Compass for the hosting, but I’m all ears for other suggestions.
I’ve got basic experience in mining pools and a good grasp of the tech side like difficulty, hashrate, how BTC prices affect things, and whether to buy new or used gear, plus power supplies and dodging scams.
Can’t wait to see what you all think. Thanks a bunch!
Have fun trying to find hosting anywhere on the planet... A lot of folks have been booted from their hosts because the hosting company decides to buy their own hardware and use the power for themselves.
As for Compass - browse through the forum and you will find nothing good said about them and a lot against.
Tbh, I can't find anywhere with consistently good feedback. If I can get cheap enough electricity, a container farm is looking like one option.
Anyone else happy with their miner hosting company?
I'd go with Wattum Management (in fact I have some miners with them already). They won't take your hardware, but if you buy through them you can host with them (in Russia or USA). Russia at 7.5c and USA is 8.9c I believe and they readily have equipment available.
That being said, it would probably make a lot more sense to simply invest your $100k into Bitcoin and hold for a few years...
Can anyone with experience please describe an ideal hosting company, what are the most important factors besides the price? What did you like and what did you hate in the companies that you worked with? What would be your "dream" hosting company?
I think this should help BTC-Nitro to make a better decision and it will help others to know what to look for when searching for a mining hotel.
If I had 100k right now I would pre order the bundle of miners from Compass mining right now to lock in a pretty solid price and have them host my ASICs. With the remaining money, I would purchase a variety of other miners on different projects I believe in. I would keep roughly 20k in reserve if there was a pullback and more miners dropped in price so I would be able to DCA on the cost of my bitcoin miners down while generating revenue with the others.
Can you name one "solid" price listed on Compass mining? I know my sight is bad but I did my best and found zero solid prices on their website, all that is there are overpriced future deals.
OP, it's pretty risky to have someone else host your gears, once mining is very profitable, it makes more sense for them to use their facilities to mine, and once and if a big player who can send them 10,000 gears that they have no extra room for, they will probably kick you and another a few thousand other small miners out, if you don't own the farm you just expose yourself to more risk to a business that is already risky.
With 100k you can buy 2.15 BTC today, or simply DCA your way with 1k every week or so, I don't know the future but I am willing to bet that no matter what hosting company you use or what gear you may end up buying, you will very, very unlikely make back 2.15BTC for the lifespan of the mining gear you are going to buy at current prices.
Except for the fact that mining gears prices lag way too much, we are down 30% price from ATH, and gear prices didn't even drop 10%, so maybe if you still decide to start mining, the cash you leave aside would be better spent on buying BTC and / if it drops.
How would we know? It all depends on where you live and the equipment costs, gov-funded incentives, amount of sunshine you get, etc... Given that, all we can say is -- maybe.
Only you can find answers to those points so DYOR and stop looking for generic answers to location-specific technical questions.
In New Jersey if you tie into the grid it will work.
But other states have other rules.
we have a 45kwatt array built this is 7-9 kwatts 24/7
we have a 115kwatt array built this is 18-22 kwatts 24/7
we are building a 280 kwatt array this will mean 46-56 kwatts 24/7