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Author Topic: Mining In Crypto And Its Recent Ideals.  (Read 5846 times)

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #15 on: August 12, 2024, 09:21:08 AM »
Mining company HIVE Digital Technologies Ltd. announced plans to build a 100 MW data center for mining the first cryptocurrency in Paraguay. The facility will utilize green electricity from the Itaipu hydroelectric plant, which fully covers the country's needs.

The company expects the initiative to add up to 6.5 EH/s to bitcoin mining operations, increasing the aggregate hash rate to 12.1 EH/s.


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Re: Mining In Crypto And Its Recent Ideals.
« Reply #15 on: August 12, 2024, 09:21:08 AM »

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Offline Manna

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #16 on: August 16, 2024, 02:08:17 PM »
This is 60-90 s21s or t21s. They make about $10 usd before all your costs at 5 cent power they burn $4.25 so they net $5.75
X 60 miners is $345 a day if you are a one man team you make 10,350 a month.  What I leave out buying the gear. 60 x 3500= 210,000 . Breakage of gear costs. Rent a space or maybe buy a container. Say 45,000. Install a container say 15,000 wires blah blah blah and to earn that 10,350 a month you have to lay out close to 300k.
~
Why not buy 3 coins for 200k  and keep 100k in your pocket.

Yeah but now do the math for theft, so no power, cheap used gear, of course, you earn low for each kwh but it's still free, gear is $5/th/s not $20/th/s, and renting is minuscule as you hide in some forgotten neighborhood, and most important than all, you look at an average wage of $1000 a month!

Theoretically at 5 cents income per th and no power costs, cheap used hardware you're making your money back in 100-120 days, no real business in this world can compete with this.
The idea you are referring to is mining by stealing electricity, which is technically illegal and unethical.  Although you say that electricity is available for free, such activity is legally punishable and risky in the long run.  In theory, mining by stealing electricity can increase profit rates, as electricity costs are a major part of mining costs.  However, if caught, the punishment can be jail, fine and other legal complications.  Besides, engaging in such activities can be detrimental to a business in the long run as well.
 So, while this may be a theoretical way, in practice, it is extremely risky and illegal.  For a profitable business I will suggest you mining or any other investment in legal way.

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #16 on: August 16, 2024, 02:08:17 PM »

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #17 on: August 18, 2024, 09:12:01 PM »
Cryptocurrency mining can be done with powerful computers and hardware but not everyone can do it as it is very expensive.  If you want to earn cryptocurrency mining then you must get knowledge about trading if you win you can make small profit from there very easily and you need to spend a lot of time for it.

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Re: Mining In Crypto And Its Recent Ideals.
« Reply #18 on: August 19, 2024, 10:01:15 PM »
~
The idea you are referring to is mining by stealing electricity, which is technically illegal and unethical.  Although you say that electricity is available for free, such activity is legally punishable and risky in the long run.  In theory, mining by stealing electricity can increase profit rates, as electricity costs are a major part of mining costs.  However, if caught, the punishment can be jail, fine and other legal complications.  Besides, engaging in such activities can be detrimental to a business in the long run as well.
 So, while this may be a theoretical way, in practice, it is extremely risky and illegal.  For a profitable business I will suggest you mining or any other investment in legal way.

I suggest you read the topic first!
You just picked up the last post when we were debating what profits those thieves would be making from mining even with older gear and their possible returns and you somehow thought that we were calling it a business plan.
So how about yous top writing your mandatory 4 lines of nothing and pay more attention to the actual discussion?

 

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