C Posts: 65 · Reputation: 38
Thinking of setting up a mining operation. Got access to super cheap electricity, like 1 cent per KWH. I’ve got 2MW available and an 800m² hangar right by the transformer, plus 3000m² of secure outdoor space. What do you think? Should I go with some ready-made mining containers or set up the hangar for mining instead?
W Posts: 296 · Reputation: 853
Honestly, that hangar sounds good if you seal it up right. Just need to make sure the air flows properly hot air out, cool air in, ya know?
Posts: 460 · Reputation: 235
2MW isn’t exactly 650 miners. If you do the math, you might run more like 500-550 S19s. Also, you'll need solid ventilation... like a LOT of it.
T Posts: 77 · Reputation: 208
Staffing will be tricky, though. Finding reliable people is tough, especially with the amount of money involved in mining. Seen too many stories where staff take advantage.
P Posts: 453 · Reputation: 2049
Wait a minute. Are you saying staff might redirect miners to their own accounts? That's shady.
Posts: 460 · Reputation: 235
Yep, it happens more often than you think. You gotta be careful who you trust. Kickbacks from pools are another issue.
T Posts: 77 · Reputation: 208
Okay, but kickbacks? Isn’t that just referrals? Some pools give incentives for bringing in new users.
Posts: 460 · Reputation: 235
Not the same thing, buddy. A kickback is much sneakier than just a referral bonus.
G Posts: 7 · Reputation: 219
Yeah, I don't get how referring someone could be seen as illegal. Referrals are everywhere in business.
Posts: 460 · Reputation: 235
#10 Nov 20, 2017, 12:06 PM Well, sure, but it’s the hidden stuff that makes it illegal. Like manipulating stats or mining pools with bad firmware.
T Posts: 77 · Reputation: 208
#11 Nov 20, 2017, 04:01 PM You’d better plan on derating your power by 80%. If you have 2MW, that gives you closer to 1.6MW usable, which is for safety.
Ja Posts: 136 · Reputation: 622
#12 Nov 20, 2017, 06:31 PM Right, so that means running around 500 miners. I guess if you’re tech-savvy, you could get away with only a couple of routers.
G Posts: 7 · Reputation: 219
#13 Nov 20, 2017, 11:50 PM But still, you can’t overlook the cost of infrastructure. Easily talking about 150-200k for a MW.
T Posts: 77 · Reputation: 208
#14 Nov 21, 2017, 08:12 AM +1 on that. And you need some decent staff who understand both electricity and software.
Pa Posts: 9 · Reputation: 24
#15 Nov 21, 2017, 08:35 AM If you can’t supervise it yourself, hire someone who can. Managing the place ain’t easy.
G Posts: 7 · Reputation: 219
#16 Nov 21, 2017, 12:32 PM I keep hearing about the risks involved here. Sounds like there’s a lot to keep an eye on.
P Posts: 453 · Reputation: 2049
#17 Nov 21, 2017, 05:05 PM Sometimes it feels like operators are as big of a risk as the miners themselves.
Pa Posts: 9 · Reputation: 24
#18 Nov 21, 2017, 05:41 PM Totally! You gotta watch everyone, including some contractors.
Posts: 460 · Reputation: 235
#19 Nov 21, 2017, 06:57 PM You guys really think the hangar is a bad idea? I figured it would be easier than moving containers around.
A Posts: 205 · Reputation: 40
#20 Nov 22, 2017, 12:13 AM Think about it what happens if electricity prices spike or regulations change? Containers can be relocated quickly.