Hello everyone, I am currently looking at the possibility to purchase around 20 Bitmain Antminers L7 9.5Ghz for mining Dogecoin and Litecoin as a bonus. Do you believe this is the best investment I can make or what would you offer me to buy instead. It is important to mention that I am going to install them in Zimbabwe, Africa where the electricity is one of the cheapest in the world. Do you believe all this is possible?
Thank you in advance!
Some things to factor in here
1: everyone believes that Bitmain will release a new efficient scrypt miner which means the profits of the L7 will go down with more global scrypt network hashrate
2: a new company called Lokotech is releasing their miners which is 2gh/145 watts however my personal opinion is they won’t sell that well because of their price
3: what do you think will happen to Dogecoin or Litecoin price? Like do you think they will moon or stay the same?
My personal opinion is what ever Litecoin or dogecoin you pay for it (say $5k usd each including shipping which would be 71.5 LTC each, worst case of the network hashrate doubles or more, if you’re paying under 4c/kw you’d break even in under 600 days, 2 years at worst in terms of cryptocurrency, not dollar value.
I’d also suggest going to extra mile and get immersion cooling to protect your investments,
Otherwise any time you need a repair if you cannot repair it yourself you’d probably have to ship it to Dubai which would be expensive posting and their rates aren’t cheap either. Just my opinion but I suggest to do your own research
I have 3 L7 9.5 running for about 18 months now. Still not reached my roi but I also bought one of them when the bull market was at peak. The other 2 a few months later when the bear market started and was able to get the machines cheaper. You need to keep in mind the market and when newer machines are going to be released. This will ultimately affect your roi. Personally I’m waiting to see when Bitmain releases some info on a new L7 because there are whispers that it’s going to happen soon. I also mine 8 other coin’s including Bitcoin. Everyone has their own approach to mining wether it be for pure investment or helping build that ecosystem because you believe in its usage in todays economy or whatever the case. Just my opinion but good luck whatever you decide.