I have an Antminer S19 and will like it hosted. Has anyone ever used Mining Syndicate before?
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I bought an Avalon 1166 and L7 December preorder from them. Jury still out on the L7, but my 1166 came fast and was plugged in within hours. been very happy so far. pretty cool guys.
So glad there was someone on the forum that bought from them, I have been on the fence about buying my first ASIC and I can’t even remember how I came across mining sindicate, but after reaching out to them and reading this, well I’m about to spend 10 grand and step into the big leagues, I’ve been GpU a LONG time, but just like Vosk I’ve got some space in my garage that hopefully I can fill up real quick!
I just ordered an Avalon 1166, my first rig, and hosting from them. When it is delivered to their site and is online I will come back here and confirm. The lady I talked with on the phone was real nice.
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My Avalon 1166 is up and running as of about two hours ago. Good company so far.
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Ok, been up and running since 6pm (PDT) last Monday Nov 1. Seven days almost to the minute. They have me connected through Slush Pool and so far in 7 days I have earned 0.00297746 BTC. About $200.00 as of the latest value of BTC. At this rate I should have the cash flow to finance another miner, thinking Avalon 1246 this next round, and then a new miner every month or two. So far so good.
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I’ve been considering mining syndicate as well, so glad to see others are or have signed up. Curious though why you went with Mining Syndicate instead of a larger host like Compass. Compass’ cheaper electricity & management is appealing, but for some reason I’m drawn to Mining Syndicate.
When I was looking to buy and have it hosted Compass did not have any miners and hosting available. At least it did not look like it at the time. (I am new to this and may have missed something.) Mining Syndicate had miners and hosting space available at that moment. Still profitable at 0.12/kwh and it was one phone call and everything was done. I am looking for cheaper rates and hosting in USA for future purchases as I gain more knowledge in this endeavor.
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I just put in an order for three Avalon 1166’s with them yesterday but haven’t heard anything back… how long did it take for them to respond to your orders? I sent an e-mail regarding ETA of the miners as well as more details on when their hosting will be available and contract details… stay tuned…
@spikeit13 , a lady, DD, answered the phone when I first called. Placed my order after she answered a few questions. I submitted a couple more questions last Friday via email and have not heard back yet. Good luck.
Thanks! I just heard back from DD as well… confirmed the lead time for miners and schedule for hosting!
Of course things have changed considerably since last November. MS sent me an email inviting me to sign up for a share of a Bitmain X19 for a month. Cost for a 1% share is $47 but they gave it to me free for a month. Earnings for the past 2 days is a bit over 1.2K satoshi. I like that they can host 1 miner (not like the 5 MOQ at others) but their electricity rates are higher. Cheapest appears to be $.10/KWh annual pre-paid-about $1,200 USD. But the fact that they offer a share of a miner makes this an attractive option for those dipping their crypto toes in.
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Can anyone else vouch for the Split Shares Beta? Sounds like a great way to compound some profits. Not sure if it’s possible but being able to sell your share would also be pretty cool.
Does anyone know about electricity rates of their shares? If you own 1% of an S19, do you pay for 1% electricity? I don’t really know too much of this concept.
I have bought some shares of two different XP miners. There is a telegram channel where a lot of these questions have been asked and answered. Obviously do your own due diligence but my understanding is that the miners do a payout drop each time they accrue 0.001 BTC. When they do they calculate the KW over the time period and apply the rate of $0.1/Kw-hr. They then back that amount out of the accrued BTC and then divide the remainder by the 100 shares and distribute them to the share owners pro rata. SO for the first machine I bought shares in the last drop was 0.00100481 BTC. The power payout was 0.00052149 BTC ($11.14) and the payout per share after the power payout was 0.00000483 BTC.
For now selling of shares would need to be done manually but is possible.
Do you know if lets say miner prices go up, do shares go up in price too? This sounds a lot like crypto reits lol. So basically you won’t have to worry about electric costs out of your pocket.
I fully expect them to adjust new share prices based on miner prices. I don’t think they are looking to create a marketplace for trading shares. The intent is for buyers to hold the shares. If someone decides that it isn’t for them and they find someone who wants to buy them then Mining Syndicate can manually do the transfer but I think this would be on an exception basis. Once again, not fact but how I interpret it.
I get the idea of possibly buying shares and then miner prices double over the next year so I want to sell half and play with house money but that’s not really how the beta is set up. Maybe it moves to that over time, maybe not. I think if you aren’t willing to HODL the shares you buy then it may not be the time yet to try this. I love the concept and I don’t think it will go away so there really isn’t a sense of urgency to pull the trigger if resale is an issue.
And yes, one of the advertised advantages is you aren’t pre-paying electric costs. That wasn’t a huge deal for me though.
That helps a lot. Thanks for the info
With mining sydicate’s reputation I would not advise. I have been looking at the shares as they are offering 11% discount but the miner prices and decreasing and they are not sharing these miners at cost so your ROI will be close to 5 years miner life 3-5 years simple math no if you want to make money.