A thread on if #BTC #mining is for you. I mine through @compass_mining and can provide real world averages on TH/s numbers with downtimes, electricity outages, pool fees, maintenance, etc.
With my machines, I use @f2pool_official and average .00000483 #bitcoin per each TH/s per day. So a 96 TH/s machine averages .00046363 BTC per machine per day. A 100 TH/s machine averages .000483 BTC per machine per day.
If you started mining on August 1, 2022 with a 110 Th/s machine (taking into account an estimated May 4, 2024 halving), it would take 3123 days to mine 1 bitcoin. 8.77 years. 105.24 months.
*my model does NOT take into account future increases in network difficulty.
*my model does NOT take into account future increases in network difficulty.
@compass_mining is currently running a sale on a #Whatsminer M30s++ 110 TH/s or a #Antminer s19j Pro 100 TH/s for $4900.
Hosting/electricity for the Whatsminer is $186.60, and $166.90 for the Antminer. Total costs to mine 1 bitcoin based off my own experiences are:
Hosting/electricity for the Whatsminer is $186.60, and $166.90 for the Antminer. Total costs to mine 1 bitcoin based off my own experiences are:
Whatsminer M30s++ 110 TH/s
Machine cost $4900
Hosting/Electricity $186.60 per month x 105.24 months = $19,638
$19638 monthly cost + $4900 machine cost = $24,538 TOTAL
Machine cost $4900
Hosting/Electricity $186.60 per month x 105.24 months = $19,638
$19638 monthly cost + $4900 machine cost = $24,538 TOTAL
Antminer s19j Pro
Machine cost $4900
Hosting/Electricity $166.90 per month x 117.96 months = $19688
$19688 monthly costs + 4900 machine cost = $24,588 TOTAL
Machine cost $4900
Hosting/Electricity $166.90 per month x 117.96 months = $19688
$19688 monthly costs + 4900 machine cost = $24,588 TOTAL
Mining vs Buying BTC:
Cons
–Longer to own 1 btc
–Currently cheaper to buy 1 btc
–Uncertainty of network difficulty increases, future hosting and electricity costs
–Income taxed daily
Pros
–Dollar cost average everyday
–Low upfront cost
–Tax write offs
–Minimal mind space
Cons
–Longer to own 1 btc
–Currently cheaper to buy 1 btc
–Uncertainty of network difficulty increases, future hosting and electricity costs
–Income taxed daily
Pros
–Dollar cost average everyday
–Low upfront cost
–Tax write offs
–Minimal mind space
Crunched these numbers for family interested in mining, but figured I'd share for others thinking it through. @compass_mining had growing pains early on, but have since grown and organized. I would recommend them if the price is right for you. Hope this was helpful!
*Adding here (thanks to additional comments), my model did not take into account the 2028 halving, or the price it would take to purchase an additional unit (seeing as it would take longer than the life of most units). Figure those accordingly!
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