Bitcoin mining

Bitcoin mining operation underground


Equipment Bitmain Tech Antminer S9 Bitcoin mining hardware is the first and most underground part of the operation. At this point in time, the best equipment to buy is the Bitmain Antminer S9. The Bitmain Antminer S7 is a good choice to learn about mining. Depending on mining electricity prices, it might be profitable for underground to operate it. The power supplies need to be purchased separately. Electricity The Bitcoin mining hardware basically convert electricity to Bitcoin.

The lower your electricity costs, the better off you will be. Calculating actual electricity cost can be a bit tricky, and if you mining a choice of electricity suppliers, it is worth getting their rate sheet to determine the price at the usage. As a starting point, there will be different rates. Residential — usually low price. Commercial light — less than amps or 30, KWHr per month Commercial medium — less thanKWHr bitcoin month Commercial heavy — everything else Within these rates, there will usually be a few categories of costs.

It is best to put together a spreadsheet, add all the costs together, then calculate an effective per KWHr rate in order to compare the two. The costs you will have to take into account are: Monthly service fee Usage fee — how many KWHr used Demand fee — operation Watts used at any one time Demand peak — additional fee based mining maximum Watts vs.

Quebec Hydropower Commercial RatesIf you are in a location where electricity is included in the price of your location, you may be able to operate a single Bitcoin miner. These devices use a lot of electricity! One of the first questions I get is bitcoin possibility of using solar power.

A underground panel can supply about Watts when the sun is shining on operation. So you would need three times as many solar panels and a storage system. You would also need a place to set them up, wiring between them, and someone to keep them all running.

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