Nostr Web Client

Wanting to build a barn with solar for other purposes down the road. Don’t need it for 5 years, but thinking I can build it now and earn back constructions costs by using the excess solar to mine BTC. Mining calculators are all over the place. Used the Braiins one, seems pretty thorough.

#[0] your Nostrica talk got me more interested. If I can hodl most of my BTC revenue and the power is cheap from solar, is it worth it? Get 3 S19 XP machines, running for 5 years. Hodl 95% of revenue in BTC.

Other people who mine, is my idea foolish? Does hardware get less profitable faster in real life than the calculators predict?

#mining #btcminers #plebminers #miningchain #bitcoinmining

Reply to this note

Please Login to reply.

Discussion

Marks 2y ago

#[2] #[3] hi, I found you both through the hashtag. What do you think about my mining scenario above? Are the mining calculators good in their predictions or do you see much lower profit irl?

Col₿y 2y ago

I’m bullish on hashprice because I’m bullish on BTC, and I believe that BTC will outpace difficulty (price can move faster than miners come online).

You expect your solar capacity to be enough to run 3 ASICs?

Marks 2y ago

The plan would be to build a big enough array and battery spread that could handle 3 miners. It’s the kind of solar I would like to have in the future with my long term plans, so the miners would be a way fund it.

Col₿y 2y ago

cool !

i don’t know much of anything about solar

mining wise, obviously it’s better to get online ASAP as the halvings are coming 👀

stack sats!!!

Marks 2y ago

I love the idea of mining! I’m struggling the make the math work though.

Spend $23k to buy 3 S19 XP machines, install electrical, and install infrastructure (not factoring in solar and building). Say it’s $0.02 kWh because of solar. After three years, I end up with 0.64 BTC

I could take that $23k and buy 0.77 BTC right now.

Buy equipment, work on the miners for three years, and end up with less BTC. What am I missing?

Joe 2y ago

Non-kyc premium

Joe 2y ago

And also possible heat savings.

But ya probably youll end up with less bitcoin than just buying.

FikaTimeBooks.com 2y ago

There are two major ways to view an investment of this type. First, as you've done, as a capital investment with a certain expected return on investment. Second, the buying power of the Bitcoin your system would mine increasing about 170% per year on average in US dollar terms.

But mind you, your business wouldn't practically be Bitcoin mining, but electricity production and then selling that electricity in the way that makes the most economic sense. The real question is, how efficient is your capital expenditure in producing kilowatts per hour? At that point, once your solar system is up and going, you can sell your electricity to whoever will pay the best price for it.

You are effectively saying you want to sell your electricity to the Bitcoin network for the sats they will pay you for it, and that option may work for you. However, that isn't your only option. My wife and I sell the electricity from our solar system to whoever will pay us the best rate for it, all things being equal. For us this means mining whatever crapcoin is most profitable, and then getting paid in Bitcoin. All that to say, your real business is electricity production and sales using solar, if that's the best way for you to produce it. I hope this makes sense.

Marks 2y ago

That’s a good way to look at it. I was trying to view it through that lens, but is was foggy. You’ve cleared it up for me. I can sell solar back to the grid for around $0.04 kWh. The Bitcoin network can pay me more for that power. And over time it can pay off the capital investment…hopefully. 🙃

FikaTimeBooks.com 2y ago

I'm glad to be of service, and thank you for your zap. Reframing our mining business as selling electricity has been very beneficial for our business perspective and how I feel about it.

White The Crow 2y ago

How did you calculate the 0.64 BTC?

Is your revenue after 3 years 0 on BTC mining?

Can you use the infrastructure or electrical for the purpose of the cabinet after 3 years? This could reduce the initial costs. Maybe postpone the full cabinet building and invest in btc but this would be very risky.

White The Crow 2y ago

Some more information is needed to give you some advice.

Is the Solar hocked up to the grid or are you off grid with this system?

Marks 2y ago

Hooked to the grid. Sell excess power wholesale for about $0.04/kWh.

White The Crow 2y ago

Nice. Depending on the location you can run the miner 1/4 of the year on solar ( rough estimation. 1/2 cause of night/day and 1/2 cause of winter/summer).

Depending on the price of solar installation you most likely want to install double power on solar end (6kw for each s19 running full power).

To get the highest running time.

Most of the power will then be send to the grid.

On the other hand because s19/ or s9 are relatively cheap you could, with a good management of starting and stopping the machines run on 3-4kw per s19.

If you dont need the power for other things a battery will be to expensive.

So you can calculate that you can pay off the miner within 3-4 years.

During the bull run the price per hash will rise. Unfortunately the btc per hash will only go lower.

At the end if you don’t need the solar system after the 5 year period it is something like gambling.

If you need the solar system afterwards and you have the cash on hand it’s a good idea to turn some s19 on when the hash is more value then the power.

White The Crow 2y ago

Thx. If you need more information I have 4,5kW diy solar with 25kWh diy battery.