Crypto mining with excess solar

[spacemuis]

I might have overdone it on the PV panels, battery, etc.
Exporting deal from the municipality is laughable.
So I'm thinking of burning some joules by doing some crypto mining.
But I see secondhand deals on the order of around R50k for a 100t hashes per second miner, and online reward calculators suggest that even with FREE electricity it would still take 3 years to recoup the investment...
This makes no sense to me - I always thought the power cost is the prohibitive factor.

Are my calculations way off (I'm new to mining)?
Would it be worth finding a partner who's already kitted out and offering to host their rig for a share of returns?
Any other suggestions?

 

[leon.davibe]

I might have overdone it on the PV panels, battery, etc.
Exporting deal from the municipality is laughable.
So I'm thinking of burning some joules by doing some crypto mining.
But I see secondhand deals on the order of around R50k for a 100t hashes per second miner, and online reward calculators suggest that even with FREE electricity it would still take 3 years to recoup the investment...
This makes no sense to me - I always thought the power cost is the prohibitive factor.

Are my calculations way off (I'm new to mining)?
Would it be worth finding a partner who's already kitted out and offering to host their rig for a share of returns?
Any other suggestions?

Where did you get earnings whattomine.com

Also keep in mind a halving coming next year

Plus thanks to moore's law new machines with higher hash rates gets released meaning a further dip in earnings

Last time i checked redundant hardware often has a quicker roi with free electricity

But hey stuff chsnges quick

Buying hardware from bitmain direct you may get better machine /price.

Shop.bitmain.com

Or that is what i found

Guys price irrational local imo

Last time i imported no extra duties

Unfortunately over R20k or more than 3 orders a year you have to be registered as importer

So may need a broker

 

[grok]

I might have overdone it on the PV panels, battery, etc.
Exporting deal from the municipality is laughable.
So I'm thinking of burning some joules by doing some crypto mining.
But I see secondhand deals on the order of around R50k for a 100t hashes per second miner, and online reward calculators suggest that even with FREE electricity it would still take 3 years to recoup the investment...
This makes no sense to me - I always thought the power cost is the prohibitive factor.

Are my calculations way off (I'm new to mining)?
Would it be worth finding a partner who's already kitted out and offering to host their rig for a share of returns?
Any other suggestions?

Grow tent, use excess leccy to put some green back into the planet..?

 

[leon.davibe]

Oh forgot to mention though no extra duries there is a handling fee from courier and naturally sars hit you with the 15% vat

But calculated at cost plus 10% not straight cost and naturally only on item price excluding shipping

I would not touch 3years roi
Cause 3 turns into 4/5

 

[spacemuis]

There's a local supplier in Durban of the BitMain AntMiner S19 Pro for R50k and it's reasonable considering the Bitmain online shop price and exchange rate. This is the one I used to calc ROI.
But yeah I agree 3 years is a no-go.
I still find it amazing that anybody would bother at such dismal returns even with free electricity.

@grok do grow tents consume a lot of power? I've been thinking of grow tunnels but can't see that requiring much if any electricity, and probably not for the kind of crop I think you're suggesting ...

 

[acidrain]

I might have overdone it on the PV panels, battery, etc.
Exporting deal from the municipality is laughable.
So I'm thinking of burning some joules by doing some crypto mining.
But I see secondhand deals on the order of around R50k for a 100t hashes per second miner, and online reward calculators suggest that even with FREE electricity it would still take 3 years to recoup the investment...
This makes no sense to me - I always thought the power cost is the prohibitive factor.

Are my calculations way off (I'm new to mining)?
Would it be worth finding a partner who's already kitted out and offering to host their rig for a share of returns?
Any other suggestions?

Just an FYI. In your ROI calculations, account for 8% earnings reductions on average a month.

Things could have changed but when we had a mining op, that was the average difficulty increase each month.

 

[Priapus]

I considered this awhile ago too for the same reasons you listed. In the end I decided it wasn’t worth the risk.

 

[Snyper564]

There's a local supplier in Durban of the BitMain AntMiner S19 Pro for R50k and it's reasonable considering the Bitmain online shop price and exchange rate. This is the one I used to calc ROI.
But yeah I agree 3 years is a no-go.
I still find it amazing that anybody would bother at such dismal returns even with free electricity.

@grok do grow tents consume a lot of power? I've been thinking of grow tunnels but can't see that requiring much if any electricity, and probably not for the kind of crop I think you're suggesting ...

Careful with scammers, I used to mine a bit dont bother any more.