I am a business owner and I know enough about BTC to believe in it and buy it. I also do understand what a blockchain is etc., but I am not an expert when it comes to the hardware.
Recently I got an opportunity for cheap electricity in an eastern european country. Price would be 0.05 EUR/kWH.
I would rent a container, which is on the site of a power plant. I would like to use this opportunity, but I need to consider a lot of things here:
- Security in a 3rd world country:
Due to the fact that the container would be in close proximity to a power plant I am sure that this is not an issue. Also I will be not the first one to receive a container there. It seems there a already many mining containers there. I will need to visit the place first, but I dont think that my mining equippment is in danger.
- GPU's VS Antminers:
I knew already that there are dedicated mining maschines for certain coins, but now I did more research on this and learned a few things. Do I understand this correctly? There are different mining algorithms, which have different efficiency. For example:
an RTX 3080 will make 8 EUR~ profit a day if electricity is: 0.05 EUR/kWH.
an RTX 3080 will make 6 EUR~ profit a day if electricity is: 0.35 EUR/kWH.
an Antminer s19 pro will make 25 EUR~ profit a day if electricity is: 0.05 EUR/kWH.
an Antminer s19 pro will make 3 EUR~ profit a day if electricity is: 0.35 EUR/kWH.
The antminer wins if the electricity price is low, but loses if the electricity price rises, while the RTX 3080 makes profit even if the electricity price is ridiculous, e.g.:
an RTX 3080 will make 2 EUR~ profit a day if electricity is: 1.00 EUR/kWH.
an Antminer s19 pro will make -50 EUR~ loss a day if electricity is: 1.00 EUR/kWH.
I took the values from this site: nicehash calculator.
This shows me that the hashrate is not the most important factor, its a combination of electricity consumption and type of algorithm. Antminer s19 Pro 110TH/s and RTX 3080 96MH/s.
Also the reason why the new GPU's are now much more popular than the antminer is their price, resell value and stability if electricity price rises. I assume these are the reasons why every miner targets the new GPU's instead of dedicated mining maschines?
Also the antminer costs almost 10k EUR and can mine only BTC (which is not a problem). If things go wrong and something happens to BTC I am stuck with a worthless maschine, while the GPU's can still sell at very high value to gamers.
- Setup in container:
I have once made a small mining test with an antminer L3+ for litecoin. The setup was very easy. You just turn on the maschine and it mines. I assume its equally easy with the antminer s19 pro for BTC. The container has a cooling system, so I do not need to install something here. I think it should be enough for GPU's and antminers.
How reliable is the mining process? Do I need to employ someone if a maschine for some reasons stops working and needs a restart? I assume its much more stable with an antminer?
How complicated is it to setup, lets say 100 RTX 30 GPU's? I imagine I would have 1 laptop, which controlls the whole mining setup? I should probably use Linux, or does it not matter?
I plan also to install video surveillance. Keep in mind, the container is not in the same country. I cannot visit the place for trivial things like restarting the systems. Maybe having multiple PC's is a good idea? With some sort of remote control, could this work?
100 GPU's need a lot of power, do I need to consider here something special? Do I maybe need an electrician?
What about driver updates for the GPU's? Is this something important?
- New RTX 30 GPU's mining lock by NVIDIA
A lot of recent information I found indicates that NVIDIA recently is trying to remove/limit the mining functionalities of their new RTX 30 GPU's. Is this a problem? Is there a way to remove these locks or does this mean that the GPU's are not an option anymore?
These are my thought. Big thanks to the people who take the time to read this and think about possible issues.
I am currently thinking is it even worth it to go to a foreign country for mining with cheap electricity while the new RTX GPU's do not care about electricity price.