Thinking about starting a Bitcoin farm at home with 100k. Is this a good move? If you were in my position, would you dive in or suggest something different? Looking for advice from both newbies and seasoned miners. Planning to hire a skilled electrician for the setup.
Investing 100k in a Home Bitcoin Mining Setup
10 replies 158 views
We need some details to help you out. What's your electricity cost per kWh? And what type of electrical supply do you have? Those factors will really shape your mining strategy. Efficiency ratings of miners matter a lot too.
100k for home mining? You really gotta consider your power situation. My home setup is too pricey for that. I pay around 14 cents in winter and 17 in summer. I have a 200 amp service, but realistically, I can only use about 24kw for mining.
I built my mining setup in NYS. My costs are about 12.34 cents per kWh. I recommend forming an LLC for better electricity rates. Also, keep some cash handy for unexpected expenses. You never know what you'll need.
I’ve got free electricity, so that’s not a worry for me. I’m on a single phase 120v. I plan to use some extra land I have for the mining. Thinking about adding solar panels for extra power.
With your setup, you might only be able to run 5-8 miners max. Consider the models that work with your voltage. You can’t run those high voltage miners.
Your electricity cost is key here. If it’s over 0.04$ per kWh, I’d think twice about it. With your 24kw capacity, you could run about 6-7 ASICs. But you also need to think about maintenance and failure risks.
Are you sure you have single phase 120V? In the USA, most homes have higher voltages. It might be worth talking to an electrician before you make any purchases.
A lot of places have the standard hot lines that can give you 240 volts. If you have 24kw free, you should look into modified S19s that can run on 120 volts.
Safety is key when dealing with electricity. For your budget, it might be smart to consider using 2P breakers, just to be safe.
I’ve been a bit lazy, but I think I can get my T21 running on 120 volts. Just need a good PSU for that build.