I live in an area where cost of electricity is basically non existent. I was wondering what would be a cheap and rather simple solution for getting into mining? Where is a good place to start that wont break the bank?
If you live in our dream conditions of under 3c usd electricity then go for older gen miners and I’d recommend the 104T S19 J pro. Right now they make $5.30 a day and you can find them easily for under $300 each. You can also underclock them really well to the point where if you’re at 3c/kw you’d have a power bill of $1 and profits from this point would need to drop 255% to break even. Just don’t go for new gen miners, you won’t profit in terms of btc spent on miner for btc mined unless you sell the miner because of ridiculous network difficulty. Good luck and keep us updated
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Id take ShredZ’s advice! He’s as knowledgeable as they come. Best bang for buck combined with proven reliability. I just did a quick search on a couple of other types of miners and nothing comes close to the advice he just gave.
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I have aspirations to start mining to create passive income. I have specs I’ve prepared for an Antminer L7 Rig to mine Dogecoin and would like to mine Bitcoin on a Antminer S21 Pro as well. My Question is:
The store that builds Rigs has advised me that it will be “VERY EXPENSIVE”. There are only a few companies in my state that can handle the Job Order. This will be my first machine(s) so:
How will I know that I am not being ripped off?
Are there other companies that I can work with out of state that could be worth looking into?
Should I avoid Dogecoin? Is there a better option?
Thank you for your response(s)
Stores don’t build the ASIC mining rigs. The ASIC manufacturers do. If they are telling you they’ll build one they are lying. They could buy the pieces and piece it together a hashboard at a time but that would probably be more expensive than just buying a used one on eBay.