Bitcoin Mining

I have some money saved up enough to buy 6-8 Antminer s9 when they become available on their website. I have read numerous posts and calculated the potential earnings on many online calculators. My plan is to set the miners in a warehouse that my bro rents and live at the warehouse too. I would use the profit to buy more Antminer s9 in the future. I know that electricity would be the main cost but in my area I only pay .10 per kWh. I'm in college so I have time to really dedicate to this aside from my normal school work and don't really have any commitments anywhere so that's a plus. I really want to put my time and effort into this so please don't sugar coat anything.

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Bump for interest.

My concern is the cost to make a rig comes to about half years profit. Not bad but scaling would take some serious cash.

And do warehouses 9often have internet?

Initial investment is much but considering that, if all goes well, you could make your money back in less than a year. We had internet but took it down because we rarely used it.

>you could make your money back in less than a year

I'm Just looking at GPUs and ETH mining, it would take a year exactly to make up the cost of a rig. I could set up in an area with cheaper electricity, but I still don't see enough cash flow to make that worth it. Plus in a years time the difficulty has increased and you're $2000 rig has just become an expensive heater.

I am seriously considering it, not just trying to knock the idea, but having a really hard time seeing a road to profitability. Really want to start my own Veeky Forums and am obviously a crypto believer. If I can only make the numbers work I just might do it (and eventually quit my job).

Same here, I really want to believe that there is profitability in this but this is why I need to take a step back and getting opinions from other people. To really think before I pull the trigger.

Eg.
>$50k to spend
>rent free access to WA state facility, electric $0.08 kWh
>buy 25 Ant S9s, $2000/per
>consumes 1375W/per
>btc $7000
>this calculator factors difficulty in over the next year
buybitcoinworldwide.com/mining/calculator/
>earn $85k (after electric cost) that year
>minus the $50k investment is only $35k

That's poverty tier. Sure there are other things to consider
>that S9 might be useful next year too and the year after (no idea really?)
>maybe you held the BTC instead of selling immediately - this is gambling though

To be fair it is a relatively set and forget with minimal risk compared to other ventures you could do with only $50k (or more or less, just scale profit accordingly).
Not sure if I'd want to go the ASICS or GPU route. GPUs can do a whole lot more, but the profitability on ASICS seems higher from the few calculations I just did (assuming you are mining ETH with the GPU).

I question the wisdom in buying ASICs in the first place. Most coins that are worth mining have such high difficulties, you'd need really large investments just to have a slight chance of keeping pace with the Chinese. At least the GPU route opens up more coins you can mine and hold on till they pick up in value.

Mining can be profitable but it won't be as much as you would expect.

Antminers produce a LOT more heat than you can even imagine, so you will have to deal with that.

Source: have 5 S9s and 316 GPUs mining in a 4000sq/ft space and it is intense.

Also the Antminers are loud as fuck. If you have 25 in one space you will not want to be anywhere near it for the heat/noise let along live there. It may also require adding a more robust electrical service to the building. It cost me $5k with an electrician buddy to get everything up to capacity...a 200A service won't support 25 of them.

if you 220 power its cheaper to run them and you will get approximately 1 btc per year per machine