Quote from: hedgy73 on January 04, 2015, 01:09:40 AM

Quote from: philipma1957 on January 04, 2015, 12:59:51 AM

Quote from: hedgy73 on January 03, 2015, 11:02:47 PM

Quote from: vortexz on January 03, 2015, 03:17:20 PM

Is it still worth mining bitcoin right now ?

Its the same old story, for most people mining at home on a moderate / expensive electricity tariff its not profitable even with efficient hardware. If you have cheap electricity and efficient hardware than you maybe returning a small profit but I don't see that continuing for much longer.

Its winter here and if my miners weren't providing supplementary heating to parts of my house I'd switch them off and sell them. They are costing more to run than they're mining and that's been the same for the past few months. I don't mind at the moment though because of the heat they produce. Come the spring they're gone though it pains me to say, however electricity here in the UK is right up there with the dearest in the world.

yeah you are far higher then my winter rate of 13 cents a kwatt (then figure heat use in the winter at 3 cents) so from now until May my power is 10 cents a kwatt.

In may the summer rate is 16 cents and no heat benefit I will be done. Unless btc jumps really high in price.

It all boils down to btc price really doesn't it. Shame its so low at the moment and I don't know if it will ever go much higher, especially in the near future.

I'm running about $0.25 a k/watt which is a killer. But to be honest by running these tubes its cheaper overall than heating my office, kitchen and dining room 24/7 by alternative heating methods when you take into consideration the bitcoin return. I live in a very small cottage hence why 2 tubes heat my office and take the chill off the kitchen and dining room. Its not a big house by any stretch of the imagination lol.

Something to consider would be an efficient heat-pump (reverse cycle) A/C. You will pay roughly a 1/3 of the cost the miners run at the current market rates. Consider the cost of the miners and the cost of an A/C system. Comparable for a small cottage.