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That's exactly my question, I'm new to bitcoins but I saw the video on MBP datacenter in Washington. Are they still making $USD8million a month profit? Is there a formula that shows how and when (at what investment level) that a profit can start to be made? Feel free to answer here or PM me, I'm looking to learn about this. So far it seems to me that only the manufacturers win because they mine for 6-12 months on their new equipment while "testing" it in pools of at least 100 servers, then when those servers get too slow for the formula they finally ship them to end customers. Do I have it right so far in my conclusions? So to make any profit at this you have to be the manufacturer of your own ASIC cards and get each server for about $500-$900 total cost.
It's quite unlikely that the Washington mining facility is making $8 Million per month today. Unless they have continued to upgrade/replace their hardware, at some serious cost, they will see a declining number of Bitcoins each and every month. The largest facilities are as exposed to difficulty increases, and the volatility of the Bitcoin price as even a puny 100 GH/s miner like myself.
Just think of yourself as the "CEO" of such a mining facility walking around and realizing that every 12-14 days, difficulty will adjust, and you will make fewer Bitcoins next month than you did this month. And you you still have to sell some of your Bitcoins to pay for the electric bill (in US $$$, not Bitcoins) at the end of the month. You just hope that Bitcoins didn't also go down by 5% in value during the month. And sometime, you will likely have to report back to your investors that you didn't make $8 million this month.
While the numbers are jaw dropping, the finances are every bit as precarious as they come.
You can take each month's profit and re-invest into new (and faster) servers. $USD3million buys 1000 5TH machines. So each month you can replace nearly your whole datacenter with faster servers. If you replaced every 4 months you are still making 4x profit over replacement costs. I just wonder what the facts are, not speculation, on what they invest and what they make. Even more I wonder what the lowest entry point is to make a worthwhile income. Companies like Mega Big Power and Cointerra and others who have big datacenters wouldn't do it if it wasn't making them money. So what are they doing right and what is their formula?
So im out of the mining game.
Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.
this game have only been a waste of money so far.
GL on your mining guys
dont make the same mistakes as i did.
Getting asics importet from china is too expensive -.-
Electricity is too expensive in my country 0.14$/kwh -.-
and my block erupters isnt making me anything.
this game have only been a waste of money so far.
GL on your mining guys
dont make the same mistakes as i did.I feel you bro - had to shut down and relocate our operation to a cheaper country.
The big corporations are making it difficult to keep this thing in the decentralized hands of the masses.
How are we going to compete with these 11 MegaWatt facilities CoinTerra and MegaBigPower are rolling out?
It is far far far cheaper to buy the BTC at this current value than to mine anything - unless you are doing it for philanthropic reasons. Probably best you get out before you blink and see the difficulty at 30Billion
That's exactly my question, I'm new to bitcoins but I saw the video on MBP datacenter in Washington. Are they still making $USD8million a month profit? Is there a formula that shows how and when (at what investment level) that a profit can start to be made? Feel free to answer here or PM me, I'm looking to learn about this. So far it seems to me that only the manufacturers win because they mine for 6-12 months on their new equipment while "testing" it in pools of at least 100 servers, then when those servers get too slow for the formula they finally ship them to end customers. Do I have it right so far in my conclusions? So to make any profit at this you have to be the manufacturer of your own ASIC cards and get each server for about $500-$900 total cost.
Looks like a nice setup and a little sci-fi freaky with that tunnel.
I suppose it's underground to get a 54F constant temperature?
I'm new to all this and was wondering if you could answer some questions about how it's possible to make a profit? You could PM me or answer here with some kind of formula.
I used the bitcoinx calculator and it seems that the cost of the bitcoin miners like the KNC products prevent any profit and only they can make a profit in the 6-12 months before they ship while they run a minimum of 100 of their latest miners in their own pool. Then they make about $USD500k in bitcoins every 6-12 months.
Am I right? How do you make a profit?
I suppose it's underground to get a 54F constant temperature?
I'm new to all this and was wondering if you could answer some questions about how it's possible to make a profit? You could PM me or answer here with some kind of formula.
I used the bitcoinx calculator and it seems that the cost of the bitcoin miners like the KNC products prevent any profit and only they can make a profit in the 6-12 months before they ship while they run a minimum of 100 of their latest miners in their own pool. Then they make about $USD500k in bitcoins every 6-12 months.
Am I right? How do you make a profit?
I've been seeing some 1TH miners for sale in Asia and I'm wondering who makes their ASICS?
Can someone tell me how this process works and a company in China that can make (design and manufacture) some ASICS for me?
Can someone tell me how this process works and a company in China that can make (design and manufacture) some ASICS for me?