I was wondering whether mining is now more about the fun of mining and keeping Bitcoin going or if there was any chance of profit involved for miners like myself.
I currently have some Bitcoin saved up, not too much but enough to buy an antminer s7.
My electricity costs appear quite high to other peoples. I have a day and night rate which differ
11.89p/kWh - Day (0.18 USD)
6.63p/kWh - Night (0.10 USD)
each run for 12 hours 8 - 20, 20 - 8. So I say on average about 0.14 USD/kWh.
I really enjoyed the fun of mining when I had a 4 x GFX card system set up. I loved it. But I am now wondering whether this is just going to lose me money. I don't mind a small profit as long as I get my ROI. But is that likely to happen?
You are a bit high with an overall price of 0.14USD, but that is probably as good as it gets in the UK, however you do have an option in the future as difficulty rises to just mine at night with the 6.63p tariff.
As a matter of interest who is that tariff with? It does not appear to be economy 7 as you have 12 Hours at the lower rate?
Rich