Post
Topic
Board Mining speculation
Re: Bitcoin mining in Germany
by
gunhell16
on 15/02/2023, 05:56:37 UTC
Since the ban of the BTC mining facilities in China and the drop in difficulty adjustment to -27%, I was thinking if I should start a small mining business in Germany. My place consumes energy from biogas plants (these biogas plants operating 8760 hours year minus 10 percent maintenance, etc. 8400 h × 500kw / h, so they produce 4.2 million kw) which cost me around 0.16 kwh EUR. I know it's not as cheap as in the US but still it's a pretty good deal for living in Germany. My plan was to buy 8 antminer S19 pro and set up a small mining farm. The costs will be around 65k USD. According to my calculation as of right now I would be break even in a lil more than a year and after that the calculation says I'll make profit at around 50k Eur if the BTC price is not increasing (which I doubt).

So here's my question, do you think I should go for it? Do you think BTC mining at that kwh costs and the low difficulty adjustment, can be profitable again in Germany? Would love to hear your opinion on that, because my initial costs for the investment would be 65k and the calculations say the machines will produce more than 2.4 BTC in one year, that's more than I would get for 65k USD in BTC right now, and after the initial costs the machines would still produce BTC year after year without me investing further amounts except of maintenance etc. Am I wrong? I would earn around 90k+ in revenue minus the energy costs of 40k which places me a profit of around 50k per year after break even (as of right now).

If you're an expert in mining, meaning you're doing it since several years in large or small scale, please reach out to me, I have several questions regarding my investment and plan.

I'm not an expert in bitcoin mining, I just know a little bit. As far as I know, if your per kWh is only playing around 0.06-0.08$, it can be said that you are not losing if you consume electricity like this with your miner.

Now, if it reaches 0.1$-0.3$kWh at this point it can be said that there is superiority in my opinion. And it depends on the value of Bitcoin, whether it goes up or down, you know that bitcoin does not have a fixed value, it can change at any moment. I'm not just sure if this 0.16kWh is your normal consume in the electricity.