40 sats \ 1 reply \ @DemandUtopia 15 Mar \ on: Mining Bitcoin with Off-grid Solar: Experiences So Far DIY
Have you calculated the ROI? According to some online calculators, an S19 will earn about $11 USD a day, if running 100% and with zero electricity cost. I assume you're way less than that and that amount will get reduced every 2 weeks with the difficulty adjustment (also it will be cut in half in about a month).
How much are you spending on hardware for this setup?
Also, remember you can just buy Bitcoin now with the USD you're buying hardware with. In fact, the $125 you bought the S19 with back in November would be worth about $225 right now. I doubt you'll ever see $100 profit with this mining setup.
You're right that, purely in USD terms I would come out ahead just purchasing BTC.
My considerations also take into account increasing my experiential capital, investing in energy resilience and abundance for my family, the value of the heat produced by the miner, and satisfaction I get from participation in the network.
The s9 is used as a space heater in a cool room in our house, so the BTC mined is essentially a rebate on power that would've otherwise been consumed by a resistive heater.
The short answer is, I don't need it to ROI in a certain amount of time. The miner is always available to turn excess electricity into BTC and heat. If I want to use the electricity the system produces for other tasks, the miner simply ramps down until there's extra electricity that needs a consumer.
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