Let’ s discuss the basic understanding of crypto asset mining operation, the main advice is to read our articles and watch Block Labs videos about mining. Maintain a spreadsheet and must include the cost of:
1- Mining equipment
2- Power supplies
5- Air conditioning systems
6- Any cost to retrofit a room to accommodate miners
A second spreadsheet is needed for projections of profitability. Block Labs provides monthly bitcoin, ethereum, and other crypto asset mining profitability forecasts on our website, social media blogs and youtube channel.
Based on a comparison of the Antminer S7, Antminer S9 and the Avalon 741, it is fairly clear the Antminer S9 13.5 TH/s has the fastest payback which is easily available at Block Labs.
If you are interested in mining and investing in Ethereum, you should watch our videos and get in touch with Block Labs’ technical expert to advise you step by step.
Many people neglect the amount of heat a miner will release. It is more vital to get free of the hot air than it is to put cold air on the machines. This means you have to find a way to take out the hot air produced by the ASIC / GPU Mining machines and move it outside. This issue might confine the place or location where you can essentially run an important mining operation. Block Labs is currently working on how to bring down the heat effects with its upcoming cooling units.
Stay tuned for more updates on this!
The perfect location for a mining operation is a big room with good ventilation and an exhaust fan that pulls out the hot air and take it outside through an outlet. All the Miners have fans, and these fans are loud. The room must also be very clean and dust-free. As the miners are loud, the best location is not your house, but in an open place like a garage or warehouse. Block Labs is experts in space management and help its clients both individual & enterprises) to manage efficiently.
Any successful mining operation will have profit margins stretching from 70% to 90%of revenue, which means you book in 70 to 90 percent of revenue pre-tax. These margins are really ideal for any business in the world. You must understand that it is easier to buy Bitcoin, Litecoin, Ethereum or any other cryptocurrency which has potential than it is to mine these crypto assets. Sometimes just owning bitcoin or altcoins over six months performs better than a mining operation. That is why a mining business should not only mine cryptocurrency but also own cryptocurrency (or preferably a basket of cryptocurrencies) to diversify in case one currency underperforms the others.
A cryptocurrency mining business is a numbers business. When you link to a mining pool, you can notice how well your miners are working. You can see exactly each minute how much your machines are earning. Getting paid regularly is also a nice benefit, with no invoices necessary.
Hope this article gives you a good understanding of how miner works. Block Labs is happy to assist you in building rigs, set up ASIC machines and providing remote support for gaining maximum ROI on such investments.