Crypto enthusiasts remember the times when it was possible to mine Bitcoin on the usual computer. The current situation in the crypto world is the following: mining is getting more and more complicated, it requires more effective video cards and huge expenses on electricity.
The last ones vary dramatically depending on where the user is from and what number regulates his rate of KWh. Anyway, the biggest charges belong to the cost of equipment. Thus there appears the main question about Bitcoin mining farms and their profitability. Let’s have a deeper look at this matter.
Taking mining seriously crypto followers have only one option for the miner, and this is the Antminer S9 from Bitmain. Bitmain is a privately owned company that designs ASIC chips for Bitcoin mining, and since 2013 they have been doing their best to become the leader on the market. The Antminer S9 is the most powerful miner available on the market and thus the most expensive.
The price of the Antminer S9 varies from $2000 to $2700 depending on the sellers’ offers.
The Bitmain company supplies its clients with a 90-day warranty, although with some limitations. For all that running normally it means that to break even with the initial investment a miner will need to mine for about 10 months. There are other miners to choose with lower prices, but it’s worth working with the best in such a risky deal.
The list of necessary expenses is not limited by the miner only. Then one should think of power supply units, shelving, cables, computers and Internet service providers. It is important to remember that the mining equipment is very noisy and heats up, so users need to follow safety rules and all working conditions.
Electricity is one of the major items to cover, and certainly proper cooling and security systems. This list is not exhaustive and users can come across numerous unexpected costs. Bitcoin mining is not an easy way to make money as many might think. In order to get stable income investors have to contribute on a regular basis into mining and not only funds but time as well.
For those who are not eager to get involved in the whole process of functioning of mining farms and its peculiarities, there is another simpler option. There are companies offering its customers a turnkey solution. They can collect a mining farm and install it according to client’s requirements.
The price for the cheapest variant starts at $3000.Generally the price depends on the number of the video cards installed and their quality. To assemble a mining farm on your own is an extremely difficult task. The great advantage of such companies is that they accept individual orders and customers get a working properly installed device, although with some extra payment for the service.
Comparing expensive and cheap video cards, there are the following results after calculations. Expressive video cards bring more income, but due to their own cost, they are repaid for a longer period. For the same price of one expensive video card, users can buy several cheaper ones. However, with the constant growing complexity of the mining process, these cheaper cards may become obsolete while the expensive card will still be able to work.
To conclude, thinking about making investments into mining farms, it is necessary to estimate how much money is to be spent on Bitcoin mining in general. In addition, pay attention to the place where mining farms are to work to count electricity costs and additional expenses. What’s important is to remember that the crypto market is unstable and one must be completely sure in the future of cryptocurrency in order to make investments.