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Hello Guys,
First of all thank you all for your valuable feedbacks. I have again recalculated my figures based on 100 Spondoolies SP50s. This is the link to that calculation. Could you guys please have a look at this ?
https://btcserv.net/bitcoin-mining-calculator?hashrate=11&hashrate_unit=peta¤cy=USD&difficulty=65848255180&block_value=25.00&btc_rate=324.53&watt=1657000&kwh_cost=4.2&kwh_currency=INR&hardware_cost=5000000&hardware_currency=USD&pps=0.000000000152
Also, the place of the proposed server farm is kind of a hilly area with snow peaked mountains surrounding it. Average temperature during summers is maximum: 22C and during winters is 2c. Will it reduce my cooling costs.
First of all thank you all for your valuable feedbacks. I have again recalculated my figures based on 100 Spondoolies SP50s. This is the link to that calculation. Could you guys please have a look at this ?
https://btcserv.net/bitcoin-mining-calculator?hashrate=11&hashrate_unit=peta¤cy=USD&difficulty=65848255180&block_value=25.00&btc_rate=324.53&watt=1657000&kwh_cost=4.2&kwh_currency=INR&hardware_cost=5000000&hardware_currency=USD&pps=0.000000000152
Also, the place of the proposed server farm is kind of a hilly area with snow peaked mountains surrounding it. Average temperature during summers is maximum: 22C and during winters is 2c. Will it reduce my cooling costs.
I am planning for raising capital to the worth of $ 3 Million (INR. 180000000).
How do you plan on raising this much capital? Do you have an actual investor who in interested or are you just assuming you will find someone?
I just think that is a lot of capital, and yes it has a ton of opportunity. Just curious how set in stone your backing in.
I actually know a rich relative. He is an investor of a kind. And always seek for better opportunities for investment. If I will be able to impress him, then I could expect at least $ 3M. What if I invest in 3,000 miners, will I be more profitable for a span of consider 2 years?
Hello,
I am from India. And I am actually planning to start a Bitcoin Mining Farm business. The location for the proposed business is actually a hilly area with cool climate throughout the year. Commercial Electricity is also available at around INR 4.2/kwh ($0.064). I am planning for raising capital to the worth of $ 3 Million (INR. 180000000). I am thinking of buying 1,000 units of Bitmain Antminer S7. The Hardware itself will cost around $1.8 Million. The dedicated Internet connection shall be a 10Mbps leased connection. And I am planning to get a 2Mw electric connection along with backup generators. The Farm will be uptime for at least 95% during the year. Also, I will upgrade the equipment in regular intervals. But, before moving any further, I have a few queries:
1. Will it be profitable in the long run ?
2. How frequently do I need to update my hardware to be in the race ?
3. What mining hardware would you guys recommend for a Mining Farm (should be efficient and fast)?
4. Will the value of Bitcoins in respect of USD increase in future (say, 5 years down the line)?
5. What proportion of the mined coins should be immediately converted into fiat money ? And where do I convert those insane amount of coins?
6. If you are from India, could you please help me in understanding the tax structure that shall be imposed on Bitcoin Mining farms in India? Also, what custom duty is levied on import of mining hardware?
7. What are the recurring costs (except for Electricity, Salary of employees, and hardware maintenance and replacement costs) ?
8. Are there any Bitcoin Mining Farms in India?
7. Finally, is the whole effort worth the profits ?
As per a Bitcoin mining calculator, it states that I shall breakeven in roughly a year. Provided I start today. If everything goes well, I shall upgrade the farm with another 1000 miners.
Please help !! (Free BTCs for everyone who helped if everything goes well. Promise
)
I am from India. And I am actually planning to start a Bitcoin Mining Farm business. The location for the proposed business is actually a hilly area with cool climate throughout the year. Commercial Electricity is also available at around INR 4.2/kwh ($0.064). I am planning for raising capital to the worth of $ 3 Million (INR. 180000000). I am thinking of buying 1,000 units of Bitmain Antminer S7. The Hardware itself will cost around $1.8 Million. The dedicated Internet connection shall be a 10Mbps leased connection. And I am planning to get a 2Mw electric connection along with backup generators. The Farm will be uptime for at least 95% during the year. Also, I will upgrade the equipment in regular intervals. But, before moving any further, I have a few queries:
1. Will it be profitable in the long run ?
2. How frequently do I need to update my hardware to be in the race ?
3. What mining hardware would you guys recommend for a Mining Farm (should be efficient and fast)?
4. Will the value of Bitcoins in respect of USD increase in future (say, 5 years down the line)?
5. What proportion of the mined coins should be immediately converted into fiat money ? And where do I convert those insane amount of coins?
6. If you are from India, could you please help me in understanding the tax structure that shall be imposed on Bitcoin Mining farms in India? Also, what custom duty is levied on import of mining hardware?
7. What are the recurring costs (except for Electricity, Salary of employees, and hardware maintenance and replacement costs) ?
8. Are there any Bitcoin Mining Farms in India?
7. Finally, is the whole effort worth the profits ?
As per a Bitcoin mining calculator, it states that I shall breakeven in roughly a year. Provided I start today. If everything goes well, I shall upgrade the farm with another 1000 miners.
Please help !! (Free BTCs for everyone who helped if everything goes well. Promise
)