I am thinking about getting some bitcoin mining hardware. I am hoping to make some money (at least what I spent on the hardware), but mainly I am doing it to learn about bitcoin mining.
- I live in Seattle. Energy costs are about 13.0 cents per kilowatt hour
- I am planning on putting this in a semi-small room in my basement. There is no AC in this room, but I would be happy to invest in it if it is necessary.
- I am planning to spend less than $5,000 on this.
I am considering two different pieces of hardware, and I want to know what you think would be better. Also, I would love to know if the calculations of the website that I am using are accurate.
I buy 21 SpondoolieTech SP20 Jackson's for $3,999. These should run at 1.3 TH/s, according to this website that means I would make around $452.05 a month - or $5,424 a year.
I buy 6 Bitmain Antminer S7 for about $2,400. These should run at 4.7 TH/s. According to the above website, they should make around $466 a month - or $5,592 a year.
The obvious choice seems to be the 6 Bitmain Antminer S7. Is this correct? Or is there something that I am overlooking?