Post
Topic
Board Mining
Re: An honest answer on mining with solar
by
mikeywith
on 24/02/2023, 22:44:14 UTC
Others are saying it might "probably not be profitable", but in this case I am saying it's not going to be profitable. As a Nigerian weighing the circumstances surrounding self power generation in the country is very expensive even for an owner of a small scale business not to talk of mining equipments that are very expensive to afford in addition to the solar panels too.  The country is highly import reliance country which means even when it comes to maintenance every parts would have to be imported.
There are many other unfavourable environmental factors to look at too that I think are only peculiar to we Nigerians alone and I believe that's why almost every Nigerian prefer buying bitcoin and hold instead of going into mining cause the profit is not feasible.

This is so true when going with any investment like solar, there is a very simple formula that you need to apply and it works for everyone, however, the variables used in the calculation are different, just because it works for Phill in NJ it doesn't mean it works for you in Lagos.

For a solar investment to mine Bitcoin it's safe to assume that by "default" it just does not work for most people unless your case is very special.