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0 sats \ 0 replies \ @g4ala 22 Sep 2021
A bit of 'coffee table maths'...
| Note | Cost |
|---|---|
| Average cost of the Rig | $9,113 |
| Average cost of power (per year) | $2,920 |
| The past 182 day mean BTC value | $44,795 |
| Typical BTC pool return (per year) | 0.294234 |
| Annual Mining return (based on the above value) | $13,180 |
| 1st Year Costs | (-)$12,033 |
| 1st Year P&L | $1,148 |
This does not include any hidden costs (installation, maintenance, etc) which could very well eat up any 1st year P&L, and then some, but putting that aside, you'd have an apx 4.5% ROI in the first year.
To get the same return on a simple purchase of BTC, the $ value of BTC would be just 4.5% higher than it is right now. Hell, it could be 4.5% higher next week, let alone in 12 months.
Just to be clear, I'm not against the very idea, but if you do go down this road, do so with your eyes wide open.
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0 sats \ 0 replies \ @k00b 21 Sep 2021
I didn't realize how expensive miners were. Does anyone know what they charge for hosting them or how that works?
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0 sats \ 1 reply \ @g4ala 21 Sep 2021
I do like the decentralising nature of this, but I'm not too sure that the costs of domestic power would be low enough for a ROI in a reasonable time frame. Also, domestic power supplies are rated at under 10 kW and a 'Rig' is going to pull about 1/3 of that, so one would have to use high power domestic appliances (your electric oven / hob, your shower, your washer / dryer, etc) on a roat system, which would be easy to manage for a couple of folks living together, but a PITA for a larger group.
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0 sats \ 0 replies \ @k00b 21 Sep 2021
True, but it is a way to earn non-kyc Bitcoin which adds a little value. There was an article in Bitcoin Magazine recently laying out the economics of it.
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