Post
Topic
Board Mining speculation
Re: Anybody in the US mine at home and call it a business?
by
Bucc5207
on 04/03/2018, 20:04:32 UTC
I am treating it like a business.  I was told to pay off the mining rig and then pull out at at least enough usd to cover electricity costs and then a little more on top of that so the business is not working at a loss.  I don't know if its the right way but it seems reasonable to me.  People who know more than I do please feel free to shred me to pieces.....
Not quite sure what you're saying, but it sounds a bit backwards to me.  I don't mean to shred you, because you might have just gotten some bad advice.  Profit is either there or not there, regardless of whether you take any of it out as cash.  If the business were not operating at a profit (ignoring equipment depreciation, which is not a small 'ignore'), there wouldn't be enough USD available to cover the electric bill.  Will it still cover the power bill tomorrow, when the difficulty goes up another 8-10%?  How about later this month, when it bumps up again?