Mining Bitcoin at Home: Week 7 Update
Hello everyone! Time flies fast, doesn’t it? It’s difficult to believe that my home mining experiment began seven weeks ago. Anyway, here’s the seventh weekly progress report.
Week 1 update here
Week 2 update here
Week 3 update here
Week 4 update here
Week 5 update here
Week 6 update here
My Working Class Hero, Yukon SP30 4.5 TH/s
This past week I continue to mine exclusively on Bitcoin.com’s mining pool. The pool is doing particularly well this week, finding more blocks than usually. They also launched a Central European server and I immediately switched to it. It makes more sense for me, given my location in Sweden, than the US West Coast server I previously connected to.
The miner is working steadily, with zero issues and no downtime this week. With each passing day I am getting more optimistic about return on my investment. By now the miner has already earned a quarter of its cost (see the table below). According to my rough forecast, in the next four months it will have fully paid for itself and from then on it’s free money, baby!
@marketingmonk mentions in today’s episode of the Cryptoverse that:
The number of searches for earning Bitcoin have increased over the past few years and have now reached an all-time high according to statistics from Google Trends.
It makes me optimistic that I should able to sell my miner at some future point. I am not going to ask the same price I paid for it, of course. Instead, I will offer a good discount to anyone similarly enthusiastic about mining Bitcoin at home as I am.
P.S.: In these days of the falling STEEM price I consider it my duty as a loyal Steemian to post this update as “Power Up 100%”.
Previous Updates:
- Week 0: Unpacking and Setting-Up
- Week 1 Update
- Week 2 Update
- Week 3 Update
- Week 4 Update
- Week 5 Update
- Week 6 Update
Upvoted and followed, So give or take not counting the electric it seems to be paying out pretty good. So in your opinion is it profitable?
Yes, my electric costs are essentially zero, because they are included in my monthly rate at a flat rate, whether I'm mining or not. I will consider this operation profitable, once I have earned the amount of bitcoins equal to – or greater than, obviously – the amount I paid for the miner. Which hopefully should happen in a few months, barring the miner's catastrophic breakdown or other unforeseeable and drastic circumstances.
Sweet, I am starting to save up a few dollars here and there in hopes I can start mining, might start GPUs first since they can be cheaper, and ATM I pay electric.
Got ur post from chat. Thanks for sharing uv
Thank you for taking time to read it and write this comment. I really appreciate it!
Super!!!
Ref link spam? One word and a link?
Nah man. This isn't acceptable. :/