Should I Invest in Solar for Bitcoin Mining?

Hey everyone, I’m thinking about putting down some cash equivalent to 1BTC right now, which is about 16K, on solar panels for my roof to mine Bitcoin. If I grab some used miners with around 200TH hash power included, how do I work out the time it’ll take to get my investment back?

You can use some tools to get an idea on ROI, but keep in mind they can be off due to the Bitcoin price and mining difficulty changes. Here’s a handy calculator to look at.

I did a bit of digging since I’m also curious about this setup. In the US, installing a 6kw solar panel averages around 13K. You’d also need a miner, which could set you back another 3K or so for something like an S19. Altogether, you’re looking at about 16K. Using the calculator mentioned, it seems like you’d break even in about 2 years if difficulty drops 7% monthly and BTC price stays steady. But that’s a big if.

If you’re getting 10 k-watts for about 14K, you’ll be able to run: 10,000/5 = 2000 watts or 10,000/6 = 1667 watts 24/7. Grab a used S19 for around 1500, downclock it to use about 2000 watts, you’re at around 60TH. That makes roughly 4.20 a day in earnings, meaning you'd be waiting almost 4000 days to break even... that’s 11 years. And that’s without considering things like government incentives for solar.

Wow, that’s a long time just to break even. Honestly, I’d rather just use the cash to buy some BTC and see if it appreciates.

Investing heavily in mining can be a real gamble. You might just find your money going down the drain with all the unexpected challenges, especially with secondhand miners that could need repairs. Better off buying BTC right now while it’s cheap.

Totally agree, it seems smarter to buy Bitcoin and hold off for a while. Building a solar-powered mining setup with ASIC miners is costly. Buying BTC at 16K now and waiting for it to hit the highs again, could be more profitable.

If you’re willing to drop close to 16K on this, you might be able to get anywhere between 350 to 500TH for mining crypto. That could pay off in the long run. Check out profit calculators when you can.

This is exactly what I’ve been saying lately. Most of the good coins are already mined. Less stress worrying about logistics too. Using solar isn’t bad, as long as you can avoid financing issues.

Solar setups usually don’t make much sense. Why even consider it? You know coal is basically old solar energy that turned into plants, right? Using hydrocarbons isn’t a problem.

Right? Like, waiting 11 years is nuts. I’d rather take my money and buy goods to sell elsewhere. At least that way I might learn something faster than just sitting on my hands waiting.

What’s your budget for those 200TH secondhand miners you mentioned? With BTC around 17K, it looks like you could earn around 12.75/hour, which might net you about 90 bucks in a week, and around 382 for a month if BTC stays stable.

I doubt you’ll get the most out of mining rigs powered by solar. Recovering your total spend plus profit is going to be tricky, especially with the risk of used rigs breaking down. Better stick to well-known brands that come with a warranty.

Why does the power source matter? As long as your solar setup can keep the miner powered, it should work. What counts is generating enough power to keep everything running.

with mining, you gotta think about more than just the miner. ASIC setups need extra cash for maintenance. Electricity costs, cooling, and other tools matter too. If your finances are solid, it might make sense.

So, you’re looking to mine with solar power? Is electricity super pricey where you live? If you can save on power costs with solar, it could be worth a shot. But if you’re buying secondhand miners, you might want to think twice.

Not quite, setting up solar costs a ton upfront. And then buying a secondhand miner is another costly step. You’re waiting 2 years at best or up to 11 years for ROI. Plus, what if something breaks down?

You’re right about those hidden costs. Installing solar might have its issues like hurricanes too. If you just buy a Bitcoin now for 16K, you could triple or quintuple it in the next market surge. You won’t be waiting a decade to see returns.

Investing in Bitcoin now seems better than a suspect used miner. Buying BTC looks like a safer bet for future profits.

So much hinges on your local power company and if you can tie into the grid reasonably. Our biggest mining setup runs off 280kw, but we only use 60 so we can offset the other 220. We’re getting enough to stay profitable, but it definitely varies by season.