Hi, Are people off siting their miners or using managed sites / Companies?
Possibly in an effort to get cheaper electricity rates?
Many thanks,
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I self host and have some offsite.
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Where do you off-site please?
I hosted with Compass and Kaboomracks. I don’t recommend compass. I’ve heard great things about @AdamMoyers, just never used him personally.
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What do you think of kaboomracks one time fee which seems to be around $400-$550? Is that just a setup fee or does that cover you with other things like repairs?
I’ ve been pleased. It’s setup plus the first month in advance.
I would say the most important thing is to understand what length contract you are signing. The halving is around the corner, difficulty is at an all time high, and power rates are rising with inflation. Think about your long term goals, how you would recover your equipment should something happen to the colo, and your ability to ride out the next bear market. Would you commit to a 1-3 year term without knowing how the halving will affect difficulty/price/profit?
I am moving more to self hosting, but I know that doesn’t work for everyone. The main thing is to find a solution that aligns with your goals.
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Hiya, yes thanks. I self host atm, However I am in the UK and our power rates are very high atm 30p (ish) per KWH ($0.38). I was researching off siting etc in an effort to reduce my power charges… Maybe to a different country and / or solar or wind or waste gas etc powered etc
My son and I have eight S19J Pro 100 machines hosted with Compass. When we first started, things were good with Compass. We had what we thought was an iron clad contract with them for three years at 6.5 cents per Kw/h. After one year, Compass gave us an ultimatum to either accept 7.5 cents per Kw/h or have machines shipped back to us for $200 per machine, and loose the security fee. That happened one more time within a year and electricity rose to over 8 cents per Kw/h. So much for iron clad contracts. Additionally, we experienced more than expected downtime due to curtailments. I had to fight with Compass to get correct credits for this downtime. One machine had a one year contract outside the LS2 bundle and when it came due, had it shipped back to us with no penalty but did have to pay the $200 shipping fee.
As it turns out, I can get 6 cents per Kw/h from my electric company if I sign on for their Time of Use program. Now, my miners will not run 24/7 but will be running over 65% of the time at a very low electricity rate and I will have total control over my equipment. The amount of energy I will consume eclipses that of home use so there is a great advantage to go with Time of Use. So, when the rest of my miners are out of Comapss contracts, I will have them sent back for home mining. Sure hope it will still be worth it with four year old machines.
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I think we have “Economy 7” here in the UK., which apparently gives cheaper, 18p per kWh electricity between midnight and 7am. It is usually used for electric storage heaters here. Currently I don’t know if customers are allowed to use this cheaper electricity for other applications? Does anybody know? Cheers
Of course, you run other appliances in your house at those times like your fridge right? A lot of people on this forum make the most of time of use power. Another guy on this forum hooked up his hydro miner to a heat exchanger to heat his house, and you can do the same with heating your hot water system if you want so you’re using the same power and energy to do 2 things, mine Bitcoin and heat your hot water, instead of only heating your hot water.
What do you think
Well, it has been a while (and a struggle) getting all but one of my miners out of Compass. Five miners are home with four set up in my garage. The fifth is wired but not yet installed. I run these miners through GE 24/7 timer boxes so I can set them to start and stop during the cheapest electricity hours. Winters here in Kansas can get pretty cold so it will be a good time to fire up the miners. An added benefit is I can now work in my garage during these winter months. The plan is to mine as long as I can profitably. My equipment is dated (S19J Pro) but still doing well. If/when I get to one BTC coin, I may stop mining. By then, my equipment will likely be completely obsolete.
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