Crypto mining and the tax man

I have to have a word with myself about marketing. This is not a blog that is likely to attract the passive perusal of a passing punter, no matter how much alliteration I put in the opening line. It IS, however, a blog you’d want to read if you’re involved in mining – at any level – for Crypto currency.

If you’re not sure what mining is, then you’re probably getting a bit ahead of yourself here, but if you do and you’re already doing it, or thinking about it, then you’ll need to read on. Continue reading “Crypto mining and the tax man”

Mining with the ‘big boys’ – One year on

I can’t really believe it’s been well over a year since I started mining with CyberianMine as I blogged about here at the time. Then, my single Antminer S9 (nicknamed’ Eddie’) was happily punching out 13.5 Th/s and collecting sats 24/7. Every day, a small amount of Bitcoin was automatically transferred to my wallet and, like a savings account earning a small amount of interest, it grew and grew. That little Antminer is still whirring away right now, even as I type, in a facility deep in the Siberian landscape. It’s never broken down. It’s an amazing bit of kit. Continue reading “Mining with the ‘big boys’ – One year on”

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?”