A ray of hope for small miners?

Home and small operation mining has very much fallen from favour since the crazy days of December 2017 and Bitcoin mining from home became all but impossible a few years ago, so what is left?

Even since I wrote the article “Is it still worth mining?” just three weeks ago, things have changed again. GPU prices continue to fall, AMD have announced an expected continued fall in card demand in their latest earnings call and many miners have decided to call it quits flooding the market with cheap second hand cards, adding to the woes. With prices down, huge players continuously entering the market and controlling the hash rate and difficulty level, is there any hope at all for the small operation or hobbyist miner? Continue reading “A ray of hope for small miners?”

So I bought an Antminer S9 …

It was inevitable I suppose.

Having been mining cryptos for some time now it had become a bit like a drug addict searching for the next – bigger – high. From the moment I first started with my first little Nvidia 750’s and saw those figures dance across the screen, pulling in a fraction of a fraction of the then almost unknown Monero, I was addicted. I still have that operation, running 16 of those cards, as well as ‘Big Blue’ the 12 card 1080ti rig, but I’d always wanted an Antmimer S9 to mine the big boy directly – Mr Bitcoin. Continue reading “So I bought an Antminer S9 …”

Is it still worth mining?

It’s no secret that mining profitability, volume and prices have all dropped significantly in the last six months. As always, as the facts come out, the reasons for this are pretty clear (and in some cases alarming) but how does that affect our strategy as miners going forward?

I have three mining operations. One is using a bunch of local PCs in a commercial environment to mine part time when the PCs are not in use. These specialize in Monero (XMR) as it’s a nice, low impact algorithm. It produces a few Monero a year which I have been stockpiling.

The second Continue reading “Is it still worth mining?”

Should I mine ASIC or GPU?

This is a question I’ve been asked a few times and one we had to answer ourselves when we embarked on our own mining operation in 2017. It comes down to a combination of budget, what you want out of it, your balance of immediate return compared to long term gain and your exit strategy.

For us, we considered Bitmain’s Antminer (and ASIC miner) as a way to get Bitcoin directly. They’re hot, juicy and there have been nightmare stories about getting hold of them and getting ripped off, but they pack a punch, with the latest version, the S9 variants, producing up to 14Th/s and costing around £700-£1000 depending on source. Running at about 1600watts, it doesn’t take many to rack up that power bill. Continue reading “Should I mine ASIC or GPU?”

Mining on ‘redundant’ PCs

I love stuff where you take a redundant resource and make it useful, or take a business case and make it more efficient by adding new tech. This is probably why I love things like renewable energy or new tech that makes our lives – and planet – genuinely better. Mining for cryptocurrency probably doesn’t (yet) cover the latter due to it’s global power consumption issues, but I so strongly believe in it’s use case for the former that I can overlook this. For now, anyway.

I’ve had many businesses over the years, but for a couple of decades I owned a chain of internet cafes and games zones in the English home counties. We were the second to market in February 1997 and, at the time I sold the last of the branches in Reading, Berkshire town centre in April 2018, we were the longest running establishments of their kind in the UK. As far as I know, the new owner has carried on and built on what we started.

Continue reading “Mining on ‘redundant’ PCs”