I am quite new to this, but I was considering starting a bitcoin mining farm. I was considering investing 16k
dude, if you are interested about bitcoin and new to all this, buy them directly from some reputable exchange.
mining is not for guys like you anymore, unless you are not in China and you don't know ASIC manufacturers. if you really want to mine, buy raspberry pi as controller and some cheap old ASIC and play with it but my honest advice: don't buy any mining gear for thousands of dollars..
95 percent I'm guessing of these threads don't ever lead to a investment. It's like "Here I might spend X amount go do my research". It does seem he realizes it's hard from other posts.... but now he's going even bigger in calculation.
Hey guys,
So for example:
Initial investment £206,400 = 300 x S7 miners = 1419 TH/S = £19918 per month (pm)
£19918 pm - £12214 (bills/rent/broadband pm) = £7704 pm.
SO WITH A £206,400 INVESTMENT, IT STILL TAKES 2.3 YEARS TO GET ROI.
During the 2 years your hardware becomes out of date and you've only broke even, with no profit, then you have to buy new hardware. SO WHAT IS THE POINT? Am I missing something? Perhaps it's only worth it if you invest millions?
So I predict we can leave this thread alone as I don't think OP will invest.