You look at our bill and you probably think we’re crazy. You look at our profits, and you probably won’t.
We’re mining ZenCash and ZCash. This article is based on the standard of a “Trio.” A trio is a mining rig made up of two 1080Tis and one 1070 mini. As you can see, ZenCash is a little over $7/day for these guys. ZenCash actually just shot up to be the top coin to mine for these.
As long as you mine, hold for a couple weeks or months, you can wait for an opportune time to sell. That’s how you will make a lot more money and how GPU mining is not “dead.” The more people holding and going for long-term as opposed to short term will only drive the prices up even more.
As you all know, we’re big believers and supporters of ZenCash (ZEN). Bottom line is it’s a good coin and it has a good team behind it. To read more about What is ZenCash, check out this post here. We also have a whole playlist of ZenCash videos on YouTube.
We mine ZenCash for the long-term holding and ZCash (ZEC) for the short-term holding and to help pay all the expenses, like the massive electric bill. Oh and the $20k worth of debt that we’ve invested in crypto mining materials for the mining farm. That’s how much we believe in this!
We’re making about $7/day per rig with over 20 rigs. Electric is costing around $1/day per rig, which comes out to a profit of around $6/day. With everything in there, profits are about $170/day, which comes out to about $4200/month.
The farm is at 40,000 sols/hashes--also stay tuned for another video and blog post about the making of the farm. We’ll lay out everything from the structure to the equipment behind it. And here’s what you’ve been waiting for! My electric bill:
This is our last electric bill. Our new one actually just came in and we’ll go over that one next, but this gives a more accurate breakdown for our numbers listed above. This bill includes:
-The mining farm, which runs full speed 24/7 on 240V. We use 240V because it’s more efficient and consumes less energy.
-A couple 120V rigs we keep in the house for testing.
-And the general electric cost for our house.
Let’s look at the overview: 30 days in a month, $766 bill. We have to mine for 5-7 days to cover our farm’s expenses. That gives us 23-25 days of straight profiting. And once you reach the breakeven point on your equipment, everything is paid for and electric is your only expense. Our mindset is the sooner you get into mining, the sooner it will get paid off and the sooner you buy into crypto, the sooner it will accrue value. Obviously you still want to make smart buys: buy low and sell high.
Of the coins that What to Mine lists that are most profitable, we think ZenCash has the most potential. The price point is at a good spot and it has a future to grow. And the platform is still under development. People forget that ZenCash was basically born this summer and they’re consistently a top coin to mine and hold. And the rumor we’ve heard is that ZCash is set to double by the end of the year. Both are good coins we like to mine and hold. Stay tuned for our next electric bill-how high will we go??
Here's a video recap of our electric bill, what we're mining right now, and our profitability.
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