Post
Topic
Board Bitcoin Discussion
Re: Three Men Mine $200,000 In Bitcoin Every Month
by
franky1
on 17/08/2014, 02:54:09 UTC
I don't know if that is the case. Still if they make 200,000$ a month and pay an electricity bill of about 60,000$ I see a lot of profit there even when you include renting the space. Still would need more info to be sure if there are some hidden costs.

indeed there are hidden costs.
when doing the maths to demonstrate costs on page one i used the current price of mining units (which were actually higher a couple months ago) so the units could have cost $1mill instead of $700k.

and i used the current electrical costs of the miners ($40k) but even i didnt think about the air fans etc costs that those guys had, which added an extra $20k+ to the bill, hence coindesks $60k+ electric quote.

so adding on building rental and the 1-2btc a month for the guys to sit there maintaining it, my numbers in my maths of page one were inaccurate.(i have edited now but still its only a guesstimate)

i have rectified the electric useage which now puts the total bitcoin hoard at 1219, and an electric costing of 600btc (meaning 609btc once you take out the electric and also the 2btc/month for 5 month labour) so with rent, cabling costs aswell you are probably near to only 600btc hoard after costs.

yep even i was too quick with my maths to not include everything.