Hello CG Members!
It is not a secret most people believe Bitcoin Mining isn't very profitable and just not worth it. I have decided to spend my money on all types of bitcoin miners and check exact profit/revenue values so the community gets a clearer image of the Bitcoin system. Looking over my results, I find it a bit shocking of how different miners earn per minute. Maybe it is time to change some miners so the "time needed to get your initial investment back" is more realistic. But thats a possible future suggestion; for now, lets jump straight in.
Currently, in CG, there are 3 types of Bitcoin Miners, the Bitminer S1, Bitminer S2 and the Bitminer Server which is connecting to the Bitminer Rack. The Bitminer Rack can hold up to 8 Servers.
To start with, lets take a look at the initial investments needed for each miner:
Bitminer S1
Bitminer S2
Bitminer Rack + 8 Servers
Miner
£5,000
£25,000
£50,000 each
Upgrades
£773,400
£773,400
about £550,000
Generator
£6,000
£6,000
£6,000
Extras
N/A
N/A
Bitminer Rack - £100,000
Total
£784,400
£804,400
about £1,056,000
As we can see, the initial investment ranges between £780k to £1m. This range is quite small when you looking at the possible profit from each miner:
Bitminer S1
Bitminer S2
Bitminer Rack + 8 Servers
Every 1 minute
£1,255.34
£1,880.50
£8,738.70
Every 10 minutes
£12,553.37
£18.805.02
£87,387.00
Every 1 hour
£75,320.22
£112,830.12
£524,322.00
Time needed to get back initial investment
10 hours
7 hours
2 hours
From this table we can agree it definitely not worthy investing in the Bitminer S1 and the Bitminer S2, as most people will not base for 10+ or 7+ hours. However we can conclude that if you have a base, and planning to base for more than 2 hours, which is realistic sometimes, the Bitminer Rack, equipped with all 8 servers is a good investment.
Whilst this table only shows one of each miner - you can own up to two of each. This doesn't change any estimates about time needed to see profit, as if you double the money making entity, and double the investment, the time needed would be the same. So realistically, in order to make money, you can buy and upgrade two Bitminer Racks, with 8 servers in each, making more than £1,000,000 every hour, simply by yourself! Like I mentioned, time needed to make profit wont change, however, the possible profit made after those 2 hours can be much bigger if you base with your friends/gang. If only 5 people spawn their two Bitminer Racks - You would make about £5,200,000 every hour (or about £866,666 every 10 minutes) and that's dope.
So, in conclusion, Bitminers aren't that bad if you invest in them correctly and have at least 2 hours to dedicate.
Should I make more of these guides for other money making entities? Let me know what you think!
*Fuel intake per miner, per generator was not calculated in this guide and actual profit may vary based on the miner you are using and the fuel intake needed*
IG Name: Spooderman
Selling: Marine custom job slots
Price: 40£
Payment methods: PayPal Only
Other comments: For details/questions, message me here on the forums or on my discord
Marine custom job
Custom job ownership
Full ownership by @Spooderman
Description
You can base in PD and build in streets
You may enforce the law
Weapons:
HK 416, MP5SD, SPAS 12, Pancor Jackhammer, AI AW50, Winchester 1897, Ithaca, SVU, Vikhr, Matador.
meatmaballs got a reaction from GoDofWaR in The Extensive Bitcoin Mining Guide