Do You Know How Much Does It Cost To Make a Mining Rig For Bitcoin?

[Cammer 4609]

Hello dear members. So I read that Mining Pool Poolin.com has created an updated analysis of the current costs for the construction of a profitable Bitcoin-Mining-Rigs noting that the cost of electricity from place to place very different and the most important factor for the long-term mining costs.

An example that was mentioned : The construction and operation of a Bitcoin mining platform costs 1.767 USD and generated a gain of 4.56 USD per day at current prices. You would have to run for 387 days, in order to be profitable. In this figure, the current costs taken into account.

 

And of course, The Information Source.

[Bohana 2143]

9 minutes ago, Cammer said:

Hello dear members. So I read that Mining Pool Poolin.com has created an updated analysis of the current costs for the construction of a profitable Bitcoin-Mining-Rigs noting that the cost of electricity from place to place very different and the most important factor for the long-term mining costs.

An example that was mentioned : The construction and operation of a Bitcoin mining platform costs 1.767 USD and generated a gain of 4.56 USD per day at current prices. You would have to run for 387 days, in order to be profitable. In this figure, the current costs taken into account.

 

And of course, The Information Source.

Thanks for sharing this my friend. I read the article and I still didn't understand how much does it cost. But, the example given in it is pretty much surprising!

[bliznec 22268]

I find it best to create mining on natural strengths such as solar power batteries. This greatly affects the environment of planet Earth not to be clogged with emissions. Today, solar-powered mining is very common.

Edited April 5, 2020 by bliznec

[Whited35 15285]

So many expert and the analysts are telling like, after halving event is done, mining cost will be increased in the market. You have given the clear picture of the difficulties of mining due to electricity charge in your post too.

[Mishu1234 101]

Sorry dear i don't know much about this but i can suggest you to go to some experts to know exact information about this so that you might not occurs any loss 

[Dark_Sky 8489]

21 hours ago, Cammer said:

Hello dear members. So I read that Mining Pool Poolin.com has created an updated analysis of the current costs for the construction of a profitable Bitcoin-Mining-Rigs noting that the cost of electricity from place to place very different and the most important factor for the long-term mining costs.

An example that was mentioned : The construction and operation of a Bitcoin mining platform costs 1.767 USD and generated a gain of 4.56 USD per day at current prices. You would have to run for 387 days, in order to be profitable. In this figure, the current costs taken into account.

 

And of course, The Information Source.

I also read that article and it really said that's the price costs that it need to create mining rig in bitcoin. 

If you want to know more information just click that link for you to learn too. 

[tienda 8776]

I have not idea about how much does it cost tho make a mining, but I know that will be expensive and you need to include other cost like electricity ....etc also the time to return your inversion...

[Upright 2688]

As a know that having a mining rig machine is hood but what really matters is on the fact of the difficult on how the machines are going to mine the blocks and gain the rewards from such, as hash rates also matters on being effective and profitable

[bitcoinb 1359]

On 4/5/2020 at 11:13 AM, Cammer said:

You would have to run for 387 days, in order to be profitable.

@Cammer  An experienced miner with some technical knowledge can get ROI faster with his mining activity. I made a topic about my mining rig and another topic about how to mine several cryptocurrencies at the same time. ENJOY.

[pablomarwan 3082]

Mining is as profitable as it is also costly in terms of paying for electricity to replace the equipment in case of failure or damage to it because the more it works the more its capacity decreases. Also, to reach $ 400, according to what I said it is necessary to wait for at least 90 days.

[Ali_hmwi 966]

Minning is easier in China than other countries, China the cost of btc minning is 3k but in the other countries is about 6k or more so it depends if the countries have a good technology or not to reduce the costs

[Cammer 4609]

2 hours ago, MarsDota2 said:

Thanks for sharing this information. I hope it will help me on the near future. I can't do the math so it will definitely help me without any doubt of it.

I would not recommend you to try out mining especially in these days because mining Bitcoin became unprofitable. I suggest you try mining easier coins.

[SuperCrypto 7193]

In short, when you purchase a mining machine, you have two options, either you are solo mining or you are connecting your device to a Mining Pool network. The same thing applies when you subscribe to a cloud mining company.

[rekter 8129]

On 4/5/2020 at 12:13 PM, Cammer said:

Hello dear members. So I read that Mining Pool Poolin.com has created an updated analysis of the current costs for the construction of a profitable Bitcoin-Mining-Rigs noting that the cost of electricity from place to place very different and the most important factor for the long-term mining costs.

An example that was mentioned : The construction and operation of a Bitcoin mining platform costs 1.767 USD and generated a gain of 4.56 USD per day at current prices. You would have to run for 387 days, in order to be profitable. In this figure, the current costs taken into account.

 

And of course, The Information Source.

And soon the rewards get halved, so either the difficulty level should drop or the btc price rise in order to keep btc mining profitable. Not sure which scenario happens but either one suits fine for me.

[Rezort 846]

For some reason I think that today it is really difficult to get into bitcoin mining business because there are already a lot of mining giants which have occupied the market.

[BTC Future 3946]

The problem with a mining farm is mostly the cost of electricity needed. Some countries that have extremely low electricity costs (i.e. China, Iran) are favorable to miners. Especially Iran which lately legalized Bitcoin mining and provided mining licences to around 800 applicants. The almost zero electricity cost reduces the total cost of mining Bitcoin (close to $2500 total cost right now) and makes it a great opportunity. 

The total cost contains electricity, hardware, storage room, cooling systems, security systems and the personal work of running one. Still with really low electricity it is always a bargain.

[bentayebsalah 2280]

That is why I do not like mining because it is expensive and its profits are small and you cannot compensate the losses and expenses that you spent by purchasing the mining device after a year or more.

[Laboni 755]

Thank you so much I didn't even know how much it cost to build a mining rig for Bitcoin, but there are ideas for doing something like this in the future. But I think a lot of money is so expensive. The use of Bitcoin is much lower than before.

[gkapoxm 84]

Depends on the investment but for BTC its one of the most expensives and you need at least $5000 to start with a rig or two. For other coins, GPU cards can be used so its cheaper.

[malik6314193 5449]

I didn't like mining sites. I think it is just waste of time. I try to earn from these sites but i failed. So i leave these mining sites. I also suggest others to don't put attention on mining sites. Try trading which is more profitable. 

[CryptoMaxim 2372]

On 07.04.2020 at 20:24, Tomas2020 said:

We also note that the cost of mining a single unit of "Bitcoin" in South Korea is the highest in the world and is considered one of the most expensive countries in terms of the cost of mining "Bitcoin".

To mine bitcoin costs are very large. It is better to use these funds to buy equipment on which you can change the mining algorithms and mine altcoins.

[Ms.o 3322]

I have read that also and from whta i read also High-Powered mining rigs are still profitable at current prices, older device are not so much. But mining also consume lots of electricity so if you are on a country where electricity are expensive i think mining cannot be as profitable as it can be.

[rianpedia 816]

2 hours ago, bentayebsalah said:

That is why I do not like mining because it is expensive and its profits are small and you cannot compensate the losses and expenses that you spent by purchasing the mining device after a year or more.

Not to mention if there is damage to the PC used to mine it will be very inconvenient and costly. Coin miners are now quite full, so we rarely get rewards there.

[Trader21 1199]

When you will see electricity bill at the end of month, you can understand maybe you don't need to make about some research. Honestly l don't want to disappoint you. But cause of such as reasons huge company employ with mining. 

[magd 5231]

My friend, there is no specific cost as the cost of a bitcoin mining device depends on the type of processor you want to use and on the electricity costs in your country or solar energy costs. Please put me the type of power device and the hosts you want for the processor so that I can help you calculate the costs