Time To Dust Off My Older Miners And Get Back To Work!!
Not sure how you felt, probably like myself this morning to wake up to this amazing milestone with Bitcoin over 7K....but I am so excited to see how far we have come. Sure there has been struggles along the way, lots of drama, uncertainty but in the end the comeback kid is strong always with crypto and Bitcoin sure does seem to hold the torch showing the way through the darkness.
Today I have sucked it up and decided to jump on the network again with my 2 power hungry Antminer S4s to add that extra 4.5 TH/s to the home mining farm. These bad boys are old school, 1400 watts a piece has made usage of these the last year basic paperweights. Around January of this year, I made plans to fire them up around 6K or so, but I held off due to costs. I think by the math, 7K is worthy enough to add them into the mix, have to test run a day see how they still fair but so far hashing like they did last year.
When It Comes To Mining, Definitely Do Your Math!!!
Though I have mining figured out pretty well down to a science at this stage, early on I went through so much trial and error. I got these Antminer S4s around a time when miners where so dirt cheap, but I did not account for the power hungry side of these so after a nice $600 bill running these 24/7 for a month, they have been retired with no ROI to this day returned.
Life lessons are valuable and the purchases on these machines luckily guided me towards way more efficient replacements, but there is always a time and place for things so I figure try to pull in a little on this rise, but definitely not running these full force for long.
Remember when you go to buy hardware, calculate in your elec costs, profits and see if its worth even going forward with. Difficulty takes a hit on your earnings so really think it through before you end up making a mistake like I did a long long time ago with my first entry into mining. Luckily sometimes you can hold these things and re-purpose them at a later date more feasible for a little ROI at least. But at this stage, I would suggest on ASICs, if you got the money get the new models like the Antminer L3+ which I am soon getting. Might be a hefty buy in price but long term more worth it in the profit margin area.
Anyways the time feels good to make these paper weights support BTC again, hopefully we keep going up and up. 2018 is going to be one hell of a ride, get prepared, best suggestion I have!