StanleyZEN Posted August 3, 2021 Share Posted August 3, 2021 I want to invest in Bitcoin and other cryptocurrency one day, but have no idea where to even begin. I want to buy up some PCs and mine bitcoin and other currencies. But, how much PC power would I need to be able to make around $2000 a month? That's just to start, I eventually want to build it up to $4000, then if possible, all the way up to $10,000. Is there any way to make this happen with a few suped up PCs? Quote Link to comment Share on other sites More sharing options...
James Posted August 3, 2021 Share Posted August 3, 2021 I do not know the exact answer. You can use this calculator to try to figure it out based off the power consumption, hashrate, and cost per kwh for power. https://www.cryptocompare.com/mining/calculator/btc Bitmain has a new miner coming out https://m.bitmain.com/product/00020210626153443050GW7uCVy10679 Plugging in the stats from the new miner and my power cost at the current difficulty level I can not run the operation profitably here in AZ. Quote Link to comment Share on other sites More sharing options...
Stacey Posted August 3, 2021 Share Posted August 3, 2021 I still don't know how mining works to be honest here. I get what bitcoin is and what crypto is but I don't fully understand the process of mining it. I do know that it takes a lot of power and energy so expect to be paying a ton for electricity! 1 Quote Link to comment Share on other sites More sharing options...
Justin89 Posted August 4, 2021 Share Posted August 4, 2021 Yeah I hear that mining takes a lot of power to do and will cost you a bunch in electricity bills. It might not even be worth it for most people. It's really only advisable for people who can afford to do this. But it also depends on the area they live, because electricity bills may be more expensive than in other places. 1 Quote Link to comment Share on other sites More sharing options...
James Posted August 4, 2021 Share Posted August 4, 2021 I will say when ETH was younger I built my own servers and put them in a datacenter in town to run them. It was a huge investment that paid back huge. After about a year the machines were at end of life and I sold all my graphics cards on the secondary market and decided I would just be an investor in the coins instead of trying to be producer. It was profitable but with the difficulty going up and me knowing ETH was changing over to a different system of trust it would be risky to build the next batch of machines. Really if you live in the USA and want to mine crypto you need to go somewhere where you hydroelectric power that is really cheap. The difficulty levels are just getting so high the spread is narrowing quickly. Quote Link to comment Share on other sites More sharing options...
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