Mining Overview for Issac.

If you want to Mine enough Bitcoin to make a living you will need cash to buy your miners, a location with enough power, cooling and a general understanding of computers. You will also need to join a mining pool. I use Slushpool.

I run 6 FutureBIT Apollo BTCs at home but that’s just for fun and I treat it like long term savings account. They are one of the few ASIC miners that run on 110 volt household power. I run them at full capacity with 500 watt power supplies They generate a hell of a lot of heat and are noisy. I can’t run them all on a single circuit or it pops the household 15 amp breaker. They are profitable at the current price of Bitcoin. There is also a new mining rig for Doge Coin you can run on 110 power, the Goldshell mini Doge miner.

To run 99% of the miners on the market, you need 220 volt power, that’s not the power in your living room, you will need serious industrial wiring and electricity.

If you want to run and maintain your own mining farm there are some good deals to be had on used miners from China. For used rigs you should consider Love Core A1 Miner 25TH at a good price or if you have the funds get new machines and go bigger with something like the Avalon Miner A1246 90TH. THe thing to understand is, if you have a hundreds of miners, you will need to monitor and maintain (repair) them.

If I was going to seriously invest in mining

I would use a managed service like Compass Mining. You buy the miners but they manage and maintain them for you. You pay for electricity and 24/7 support. They have a great reputation and will host 1 miner or 1000. 

Side note: I make my money as a block producer, not a miner and that BP hardware runs in a data center in northern Virginia.

Send me a note if you have questions: