BTC mining with own hardware #2


SUBMITTED BY: m0dder

DATE: May 8, 2021, 5:29 p.m.

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  1. Buy ASIC miners and a power supply for your mining rig. An ASIC miner is an application-specific integrated circuit (ASIC) designed specifically to mine Bitcoin. Essentially, it's a computer chip that needs a power supply to run it. ASIC miners vary in price depending on their hashing power and their efficiency.
  2. For example, the Bitmain Antminer S15 has a maximum hash rate of 28 TH/s and consumes 1596W of power. Over the course of a year, you could earn a little under $200 worth of Bitcoin with this miner, depending on the cost of your electricity. However, considering the miner costs between $1500 and $2000, it would still take you at least 7 to 10 years at that rate to start turning a profit, at the Bitcoin price of $4000.
  3. You can monitor the price of Bitcoin to calculate changes in the time it will take to turn a profit. Profit may also vary based on the price of electricity.

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