Profitable bitcoin mining SOLAR POWER!!! ROI in 1.5 years

Bitcoin mining is a very competitive business, with the price rising recently, mining has become more popular and the difficulty is increasing. When building a large scale mining operation, it is important to calculate your expenses compared to your expected profit. For this guide, we will aim for a 1000 Tarahash setup. This will provide about 0.3 bitcoin daily.

HARDWARE When considering what bitcoin miner to buy, it is important to consider the characteristics of the machine, as reported by other users. The most common approach, is often to simply buy the latest ASIC miner available, this currently being the Antminer S9. There are currently other brands of bitcoin miner, but we will only consider the antminer in this guide. At first glance, the antminer S9 appears to be better than the previous model in every respect. The S9 hashes at 13 tarahash while using 1300 watts of power, while the S7 hashes at about 5 tarahash while also using 1300 watts of power. This means we get over twice as much hashing power with the S9 than the S7. However, the S9 price currently that I found was about $1300, while the S7 is currently available for about $650. Another difference is the life expectancy of the machines. The S9 uses smaller chip size to increase density and lower power, however, they burn out much faster, with some users reporting about a 3 month shelf life. This is an important factor, because the mining operation must run for a few years with minimal part replacing. Therefore, it is better to buy the longer lasting miner, this being the S7.

POWER Now that we have decided on a miner to use, we now can estimate the total power consumption to achieve our desired 1000 tarahash. First we calculate how many miners we need by simply dividing 1000 by 5, which yields 200 total S7 Antminers. If you paid $650 per unit, the total cost is about $130,000 and would require approximately 260 kilowatts.

COOLING Bitcoin miners produce a lot of heat, this will require significant air conditioning to keep the miners running safe for an extended period of time. This should be achieved using freon based air conditioning units that only require electricity. The total watts used should be calculated. This brings up the final thing to consider when building a large scale bitcoin mining operation, and that is the location. The most popular places for btcoin mining to be located has favored low electricity cost, as well as a cool climate. These two considerations are not necessary, and we only care about maximizing SOLAR ENERGY. I recommend choosing a very hot desert area with cheap and remote land opportunities.

Solar panels are very inexpensive these days, I was able to find a 300 watt solar panel for $160, for our bitcoin mining operation we need about 300 kilowatts, which is about 1000 panels and would cost about $130,000. This brings our total to about $260,000 total, not counting the air conditioning units, property and building costs.

This mining operation would yield about 64 bitcoins anually, currently worth about $160,000 (averaging 12 hours per day of sunlight). After you recieve your ROI, you get to keep mining bitcoins free from electricity costs. And as the price of a bitcoin increase, so do the profits.

In conclusion, bitcoin mining is better using renewable energy.