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What's the cheapest mining hardware with efficient hash rate/power

Wed Sep 23, 2015 7:08 pm

Folks:

I'm trying to get into mining but, my funds currently are limited. My budget is around 10k and I want to know if this is good enough to mine bitcoins. Considering other miners have spent much more and basically skew the hash rate higher so, I might need more dough.

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Re: What's the cheapest mining hardware with efficient hash rate/power

Wed Sep 23, 2015 7:48 pm

Folks:

I'm trying to get into mining but, my funds currently are limited. My budget is around 10k and I want to know if this is good enough to mine bitcoins. Considering other miners have spent much more and basically skew the hash rate higher so, I might need more dough.
with 10k you can get around 30 th/s with montly incoming for mining according http://www.coinwarz.com/calculators/bit ... calculator 1732$ per month * 6 months = 10395.72 $
The first 6 months of mining you will get the invested money back after 6 month who will now have get your invested back you can tell i mine bitcoins but don't forget the difficulty and the power cost..
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Re: What's the cheapest mining hardware with efficient hash rate/power

Wed Sep 23, 2015 10:54 pm

Did you factor in the increasing difficulty?

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Re: What's the cheapest mining hardware with efficient hash rate/power

Wed Sep 23, 2015 11:38 pm

For efficiency, I understand that Bitmain is one of the popular choices. There's certainly others, just that I have not had much experience other ASIC vendors myself. I had an S5 for a while, and it was ok, just very noisy for a domestic setting.

The title asks about the cheapest also. I think it is a tall order to expect cheap and efficient though. :D

On the other hand, knowing that mining is a race to the bottom, all that matters is reaching ROI.
This is true for 1K worth of mining gear, just as it is for 100K worth. You'll need to make a very fine selection of supplier/equipment, and unless your electrical costs are null, there's always a factor of risk, since difficulty might raise to a point where mining is not profitable for you, much like Bitcoin price can drop and cause the same effect. It is a tough call.

If you're at all considering venturing in the world of altcoins, GPUs are still quite popular, and Nvidia looks to hold the crown of efficiency. Personally, and as mining is just a hobby for me, I find that GPU mining for altcoins provides the most fun.

Good luck & Happy Mining ;)
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Re: What's the cheapest mining hardware with efficient hash rate/power

Sat Sep 26, 2015 3:51 pm

Unless you have basically free power then it can be very difficult to make any positive return on your investment bitcoin wise. Meaning you're probably a lot better off spending that $10,000 on BTC and sticking it on a paper wallet. If you can get power at less than $0.07 USD per kWh then you could probably see a return on your investment. Rated in the amount of bitcoin you could currently buy for $10,000.

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Re: What's the cheapest mining hardware with efficient hash rate/power

Sun Sep 27, 2015 6:33 pm

Something to keep in mind about mining is that a lot of new hardware is being released in the next couple months that will be 4x more efficient then what is currently in the market.

Taking this into consideration a lot of the old hardware will become unprofitable at the current market price, as the difficulty will spike once the hardware is shipped. Those with the new hardware will be able to mine at a much more efficient rate and if your a big player wanting to take out the little guys you could manipulate the price by shorting it to a level that would force a majority of people to turn off their old hardware. This doesn't mean this will happen but it is a possibility.

As mentioned its very important to have low electrical cost as this will give you a little more wiggle room. We have been fortunate in Canada as we pay our electricity in CAD which has dropped by almost 30%. Currently I'm paying around $97.50 CAD or $73.12/kW/mth USD for hosting in Canada which has helped significantly.

There are a lot of factors to take into account when looking at mining hardware. Biggest ones being W/Gh and cost of electricity.

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Re: What's the cheapest mining hardware with efficient hash rate/power

Mon Nov 02, 2015 6:14 pm

for me i have always got the cheapest miners over at http://zoomhash.com/

bitmain/spondoolies/ and for scrypt (not btc) those terminators are nice! (scrypt has been more profitable than sha for awhile now)

ask for chris

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Re: What's the cheapest mining hardware with efficient hash rate/power

Fri Nov 06, 2015 9:57 pm

One of the most important considerations is your power cost. If you live somewhere with cheap power you can mine from home but otherwise you should find a company to host your miners. Profitability will vary with Bitcoin price and difficulty so it might not seem so important now but once the halving comes it will be that much more important to make sure your power costs are low.

I am putting together a hosting directory here:

mining-support/hosting-directory-bitcoi ... t2187.html

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Re: What's the cheapest mining hardware with efficient hash rate/power

Sat Nov 07, 2015 5:37 pm

right now i'm finding it tough to snag older gear. It is either over priced or really terrible gear.

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Re: What's the cheapest mining hardware with efficient hash rate/power

Sun Nov 08, 2015 6:51 am

I recommend starting small and keeping your mining diversified and incorporation some type of renewable energy source in your plan. Solar and wind can offset a grid tied system and reduce your cost long term. I tend to fire up old hardware when solar is at its peak and turn them off as the sun starts to disappear.


Look at Nvidia(GTX 750TI OR GTX 970) cards for low energy mining of alt coins or you can sell your hash rate to be converted directly to bitcoin using a service like nicehash or others.

The antminer S7 by Bitmain is one of the more energy efficient consumer miners at the moment. The company also has a decent reputation and is active in the community.

The key is not putting your eggs in one basket because something new will appear in a matter of months.

The main thing is to just get started in a small way at first and go big as you get more experience.

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Re: What's the cheapest mining hardware with efficient hash rate/power

Sun Nov 08, 2015 2:19 pm

Hi mate, the most efficient miner you can buy today is Bitmaintech's Antminer S7. Or at least it was. They recently redesigned it, and the current GH/W numbers are unclear.

There are currently two companies who sell to the public, Bitmaintech and Avalon.
http://www.mybtcpool.com/product/avalon6-3-65ths/
https://bitmaintech.com/product.htm

I recently did a similar investment:
https://www.youtube.com/watch?v=ICS22_VVlSg (They do make some noise, ~70dB.)

Don't bother with GPU mining, it's way too late.

Personally I would wait until next year before buying mining hardware. Probably after the halving of the block reward.
If you order S7's, they will probably not ship before 27.dec. We might see miners based on 16nm tech next year. Bitfury has announced the tape-out of a new chip, but there is a chance that they won't sell to the "public".

If you have free or really cheap power, I'd say go for it, if not, buy bitcoins. For every investment I've made in mining hardware, it would have been better to just buy the coins.

If you just want something to play with, wait for Bitmain to release a new batch of their AntRouter's. Accesspoints with 5GH/s mining power. :lol:
Or get a 21.co computer.

Good luck.

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Re: What's the cheapest mining hardware with efficient hash rate/power

Sun Nov 08, 2015 6:11 pm

Hi mate, the most efficient miner you can buy today is Bitmaintech's Antminer S7. Or at least it was. They recently redesigned it, and the current GH/W numbers are unclear.

There are currently two companies who sell to the public, Bitmaintech and Avalon.
http://www.mybtcpool.com/product/avalon6-3-65ths/
https://bitmaintech.com/product.htm

I recently did a similar investment:
https://www.youtube.com/watch?v=ICS22_VVlSg (They do make some noise, ~70dB.)

Don't bother with GPU mining, it's way too late.

Personally I would wait until next year before buying mining hardware. Probably after the halving of the block reward.
If you order S7's, they will probably not ship before 27.dec. We might see miners based on 16nm tech next year. Bitfury has announced the tape-out of a new chip, but there is a chance that they won't sell to the "public".

If you have free or really cheap power, I'd say go for it, if not, buy bitcoins. For every investment I've made in mining hardware, it would have been better to just buy the coins.

If you just want something to play with, wait for Bitmain to release a new batch of their AntRouter's. Accesspoints with 5GH/s mining power. :lol:
Or get a 21.co computer.

Good luck.
I agree that GPU mining for bitcoin is out for sure, but GPU mining alts or renting your hash for a popular algo like quark or skein can be a very easy and profitable way to earn bitcoin. The main thing is to have options as markets change

BitTore
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Re: What's the cheapest mining hardware with efficient hash rate/power

Sun Nov 08, 2015 10:47 pm

Hi mate, the most efficient miner you can buy today is Bitmaintech's Antminer S7. Or at least it was. They recently redesigned it, and the current GH/W numbers are unclear.

There are currently two companies who sell to the public, Bitmaintech and Avalon.
http://www.mybtcpool.com/product/avalon6-3-65ths/
https://bitmaintech.com/product.htm

I recently did a similar investment:
https://www.youtube.com/watch?v=ICS22_VVlSg (They do make some noise, ~70dB.)

Don't bother with GPU mining, it's way too late.

Personally I would wait until next year before buying mining hardware. Probably after the halving of the block reward.
If you order S7's, they will probably not ship before 27.dec. We might see miners based on 16nm tech next year. Bitfury has announced the tape-out of a new chip, but there is a chance that they won't sell to the "public".

If you have free or really cheap power, I'd say go for it, if not, buy bitcoins. For every investment I've made in mining hardware, it would have been better to just buy the coins.

If you just want something to play with, wait for Bitmain to release a new batch of their AntRouter's. Accesspoints with 5GH/s mining power. :lol:
Or get a 21.co computer.

Good luck.
I agree that GPU mining for bitcoin is out for sure, but GPU mining alts or renting your hash for a popular algo like quark or skein can be a very easy and profitable way to earn bitcoin. The main thing is to have options as markets change
I must admit I know nothing about quark or skein. I've had my GPU's on the shelves for years now. (280x).
Could you give an example of an alt-coin that is profitable to mine with a GPU? I guess AMD GPU's are still the way to go?

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Re: What's the cheapest mining hardware with efficient hash rate/power

Tue Nov 10, 2015 3:58 am


I agree that GPU mining for bitcoin is out for sure, but GPU mining alts or renting your hash for a popular algo like quark or skein can be a very easy and profitable way to earn bitcoin. The main thing is to have options as markets change
I must admit I know nothing about quark or skein. I've had my GPU's on the shelves for years now. (280x).
Could you give an example of an alt-coin that is profitable to mine with a GPU? I guess AMD GPU's are still the way to go?
Check out
http://www.coinwarz.com/cryptocurrency for a list of conversions to Bitcoin and profitability guide

When Nvidia released its 28 nm Maxwell it pretty much destroyed AMDs dominance in the crypto mining realm

AMD is better for a couple algos, but for the most part new Nvidia cards dominate with very low power usage and high hash rates

Hope that helps

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Re: What's the cheapest mining hardware with efficient hash rate/power

Sat Nov 14, 2015 10:11 pm

if you want a cheap miner, Antminer S5 is, the S7 is better but also cost way more, is not cheap. or what I mean is what bitmain did was take 4 S5 and make a S7 that's = to four S5 then make it use less power and then charge the cost of four ant S5 @ 399 or so = 1596 USD there you have a S7 price instead of helping out the hone miner they kind of screwed some instead of making one that does 2.3 th lets say and charge maybe 500 per miner which i would think would be better for everyone including them but they got greedy .They see that now to late because of how they keep lowing the S7 default speed and also I believe they did it to get the price up why i say greedy at one time they weren't and really nice to deal with , if you noticed even at 4. 5 th,what it is, now the price didn't drop much to mater, it's not going to unless some one makes a smaller one at 2 something TH , then charges 500 USD. which to me is more reason able then what bitmain is turning into.



I gonna buy one once i sell off my 4 S5, but feel i was cheated as well but that's how i see it and how I feel about bitmian now, at one time, i would say nothing but good things about them .
Last edited by nuker on Sat Nov 14, 2015 10:49 pm, edited 8 times in total.

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Re: What's the cheapest mining hardware with efficient hash rate/power

Sat Nov 14, 2015 10:25 pm

You'll really need more up front if you want to start making enough to be able to keep up with difficulty. If you just want to mess around though, finding old gridseed asics or antminers might be possible.
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Re: What's the cheapest mining hardware with efficient hash rate/power

Sat Nov 14, 2015 11:00 pm

actually in my case that's not it and the S5 is still good depending on power even with the S7 it depends on power cost . and as for difficulty why did it go up because of bitmain it didn't have to . sigh not like it's heading now . bitconis will go up either way .
but were getting off topic now
.

In any case it all depends on your Electricity cost no mater what miner you have .


for the OP S3, S5, are your best bet for maybe two to four more months depending on the cost of your Electricity then look into buying a S7 or whatever is out there, The A6 by Avalon cost to much, the antminer is cheaper. the A6 from whats been posted it going to cost a big 1600 USD @ 3.6 th they claim it's better then the S7 but the stats they posted so far show it a lot worse then the S7 in power usages and it cost more .



and next year there maybe three company's selling to the public, and why I'm holding off buying to much of anything but deals till next year . which i have other thoughts about, I hope I'm wrong, are doing what what Sfards did http://www.sfards.com/ get our hopes up then take us to the cleaners , but that remains to be seen with LK they may just mean it, bit well see what LK does.

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