I've been hearing a lot about mining Bitcoin with my excess power, but I'm struggling to see how it makes sense financially. I currently have enough power to run one Antminer S19 Pro for about 12 hours a day, but I don't want to spend over $5,000 for new equipment. The used option I'm looking at is priced around $540. After purchasing power cords and a fan shroud, I'm already at $800 just to start.
These miners are quite noisy, and I can't keep it inside my garage due to potential mold from the heat and humidity. The only feasible location seems to be my back porch, where I'll have to manage the noise not to upset my neighbors or my wife. If I run it in low power mode to reduce noise, it could generate around $2.25 per day. It'll take a full year of perfect operation, which is a stretch considering potential cloudy days, just to break even on the initial investment. I'm also concerned about Bitcoin's volatile price and the possibility that this used miner might fail. Can anyone help clarify if my calculations or model are off?
3 Answers
I have a different idea! Instead of mining Bitcoin, consider utilizing your extra power for something simpler—like charging electric scooters. It's a bit offbeat, but could offer consistent returns without all the mining fuss.
That’s an interesting thought! I’ll have to look into that.
At $800 for an Antminer generating roughly $2.50 a day, the ROI seems pretty decent – under a year to break even if everything goes smoothly. But keep in mind, ASIC miners like these don't resale well, and with that kind of noise, your family or neighbors might not be too thrilled. You might want to consider other coins to mine using a gaming PC instead, especially if you're off-grid and have excess energy.
Word! I think tackling this would depend on your goals with mining—like if you're trying to offset solar costs.
Exactly! Mining with a gaming PC can be quieter and less expensive, plus it might offer better returns.
How much excess power are you working with? If you're sitting on 100 kWh daily, then that changes the game. Using that plus home battery systems might give you a slight benefit. But just know, predicting profitability is nearly impossible. You could hit it big or go an entire year mining nothing.
Good to know! In that case, if the economics align, you might see some returns.
I think I could run about three miners at 12 hours each day.
Definitely! It's a viable alternative to using excess energy.