807 sats \ 4 replies \ @anon 25 Jan \ on: Swan Bitcoin announces US mining business, with 750 BTC mined already news
Wait someone please check my math: if I assume based on this galaxy sheet: https://www.galaxy.com/insights/research/how-much-does-it-cost-to-mine-a-bitcoin/ The capex cost for "Capex Per TH Under 60 - 100 J/TH" (assuming they use something like an Antminer S19j) is $45.70
The article says they will soon be at 8 exahash which is 8,000,000 TH
$45.7 times 8 million = total capex cost of $365,600,000.00.
Can someone please explain where in the fuck Swan got $366M?
IMHO there are either key details missing or this is complete bullshit
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100 sats \ 2 replies \ @byzantine 25 Jan
bingo. this doesn't add up and don't forget the electricity cost on top of the capex build out
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0 sats \ 1 reply \ @anon 25 Jan
For sure! My math would be just capex to build the mine infrastructure. Opex (operating expense), to your point, on top of that would be huge too.
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25 sats \ 0 replies \ @byzantine 25 Jan
they are bigger than a public company such as SDIG
this is crazily unbelievable
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0 sats \ 0 replies \ @HardMoney 26 Jan
I think the link and prices you have are outdated but it’s directionally right. They are probably buying s19xps / trying to get s21s too. These machines are 21 and 16.5 j/th respectively
Let’s assume it’s all XPs at 140TH. These machines probably cost 3-4K each assuming bulk discounts etc. At 3.5k that’s $25 per TH. Still 200M in just asic prices alone. If they are self mining theres another $50-100+ million to build the infrastructure. Based on the speed of deployment they are likely hosting with a larger public / private miner. Keeps their capex focused on miners but results in higher electricity prices and variable costs.
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