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How to run a home crypto miner with profit

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by COINS NEWS 98 Views

So we hear all the time if you run a crypto miner it isn't profitable because electric cost. This is somewhat true, but just for kicks (and because I actually did need to know). How can we lower the cost to $0 and still turn a profit

The short answer is we are going to use solar. Now for this to make sense, we can't focus on crypto being why we are doing this. Like the solar for crypto alone makes no sense since. But having solar for your house, or maybe a wood shop makes sense. (per GPU you're looking at $0.50 give or take per day)

In my case, I deal with bees and I am going to make a bee house (a place where I can sling honey, I can keep the gear in, rest if needed, and so on)

The parts you need and keep in mind this is an estimate for a normal mining right an average person would have.

Solar panels $1k-$2k (more depending on what you are doing)
Inverter $500-$1k
Charge controller $100-$300
wiring and other hardware $100-$300
Battery bank $500-$1k

Now the interesting thing is you might be able to get some tax credits with this. And if you plug it into the grid, it could lower your overall bill or you might be able to get some money that way. Also it's possible to get some of this cheap. Like you wouldn't want to cheap out on this stuff normally. But solar panels, sometimes you can get this on a heavy discount. Maybe a few didn't test right, so they might sell it for a quarter of what it would've been. I've seen people get away with buying entire panels for $500 and it puts out a ton of electricity.

One thing to keep in mind is depending on things it could be overall cheaper to do a full home solar system. For example, this setup is meant mostly just for the crypto miner itself. Where with a full home system you're $20k give or take your needs and any money you might get from the gov for having a home solar system.

submitted by /u/crua9
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