Getting started on mining

Mining & Hardware
#1

Hi!

I want to start crypto mining for real but I really have no idea where to start. I have a budget on 20k max and looking to make 1k profit per month if possible. The miners im currently watching is Antminer K7 and L7 and profit wise it looks good.

So my questions are, what are the most profitable to start with and am I unrealistic with my calculations. Any anwers regarding this is appriciated!

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#2

I recommend you to buy L7
2021 - 2023 Is mining the most stable source of income, or is L7 the most stable

#3

If you consider buying an L7 just a few things to keep in mind

  • there’s a company called Lokotech that is supposed to be show casing their new miner which is supposed to be 2gh/145 watts and I also heard that minimum order quantity is 350 units, which would destroy scrypt hashrate. However I’m taking this with a grain of salt, companies have been known to allow pre orders in BTC and when BTC pumps they refund the USD value and scamming them that way saying they won’t release the miner
    -Bitmain have auctioned off their last L7 miners which means hashrate will go up and if they are not going to produce any more it means they could be working on a new efficient miner, which means current L7 miner profits will go down
    -There is the Litecoin halving coming up so profits will go down maybe 15-20%
    If one of those new miners comes and the network hashrate doubles, if your electricity rates are 12c usd you’d probably only make $3 a day at current prices

Everyone’s situation is different, my situation I personally would buy another L7 at under $5000 usd if I had the electricity capacity for it, I have no idea about what electricity rates you have or if you have the means to generate electricity or stacking coins or selling enough to cover electricity rates or what. But I hope that is useful info for you and helps you make an informed decision

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#4

The L7 of 8550m and 8800m are indeed very attractive now

#5

Alright, i’ll look more into the l7 then. Do you guys have any tips where to buy from? I live in sweden so shipping will be here ofc. I might be able to have ”free” electricity for a couple of years. Atleast very cheap.

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#6

Thats awesome if you can get free power then you have heaps of options and ROI time on miners will be short, i personally buy from Apexto mining and talk to Jessica on WhatsApp, https://www.apextomining.com i know others deal with other sales persons on this forum and have no issues, I always receive my miners in 6 days after payment to Australia, or you can make an account with Bitmain if you want to KYC they are letting you now reserve one miner pre sale on their new miners so you don’t have to buy with a mark up price. Good luck my friend

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#7

The current L7 is already very cheap

#8

I am from Shenzhen Leed Electronic Co.,Ltd.

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We are a leading Asic miner supplier. You can contact us anytime if you needed.

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