[Progress thread] Building out a crypto mine, step-by-step - AMA

[ZCP]

@GlobalWealth my company is an engineering consulting firm. we do airflow studies and consulting for industry. send info, dimensions, specifics and i can probably hook you up for free (a few drinks). then you would benefit from math and science!

 

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[GPM]

Do your extension cables get warm at all? I notice that you have them all stacked on each other on the floor there. Sometimes those can get warm, and even spacing them out a half inch can stop them from adding to each other.

Love the pics! I was curious as to how this was going. Awesome to hear you have just about paid our equipment off and are starting to take some money (crypto) out.

 

[GlobalWealth]

Do your extension cables get warm at all? I notice that you have them all stacked on each other on the floor there. Sometimes those can get warm, and even spacing them out a half inch can stop them from adding to each other.

Love the pics! I was curious as to how this was going. Awesome to hear you have just about paid our equipment off and are starting to take some money (crypto) out.

Those are not extension cables on the floor.

Those are high voltage cables hard wired into the panel and rated at 32a.

Each breaker on the panel is 3 phase 50a so we are not pushing capacity there.

Those cables are operating at an average of about 25a each.

Each PDU is also rated to 32a.

We are running very cool actually.

It took some tweaking especially with the power strips but we finally sorted it out.

Sent from my VTR-L29 using Tapatalk

 

[AgainstAllOdds]

Update.

It's been awhile since I updated this thread and thought it was time. As many of you are aware, crypto has been on a wild ride for the past 18 months.

With BTC going up to $19k, down to $3k, now back up to $8k, it's not a business for the weak stomach.

From the last update, I said we bought 80 Bitmain L3+'s. Actually we ended up buying 100.

Now are are running the following hardware:

• 106 Bitmain L3+'s (mines LTC)
• 12 Bitmain Z9 minis (mines ZEN)
• 14 Innosilicon A9's (mines ZEN)
• 2 GPU rigs with 12 gpu's per machine (mining XMR)

In addition to that, we are using the accumulated ZEN to build out Supernodes - we have 8 right now (probably building out #9 later this week).

Buying those 100 L3+'s turned out to be epic timing. We paid about $100 per unti, incl the psu and shipping, import duties, etc.

When we bought them, LTC was around $30 and mining operations where shutting down L3+'s since profitability was marginal or non-existent. That gave us firesale prices.

We've had the L3+'s running now for just over 2 months and they've already paid themselves off.

We are now taking profits from the mine personally with a monthly dividend paid in crypto.

From the perspective of the ASIC hardware, we are at or very near breakeven after 9 months.

With the GPU hardware.....well.....F*ck them.

Here are some pics for those interested in the visuals.

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That's awesome.

Out of curiosity, how loud is it in there?

 

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[GlobalWealth]

That's awesome.

Out of curiosity, how loud is it in there?

You couldn't take a nap.

Sent from my VTR-L29 using Tapatalk

 

[James Fake]

@GlobalWealth - you sir, are badass!

 

[GlobalWealth]

@GlobalWealth - you sir, are badass!

I appreciate the kind words but I'm barely a mediocre a$$....

I am however raising money now for another mine project that is 6x larger with the ability to triple from that.

Maybe then I can be worthy...

Sent from my VTR-L29 using Tapatalk

 

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[Zhyna]

Loved following this thread @GlobalWealth. Hows the new project coming along with bulls coming back to play?

 

[GlobalWealth]

Loved following this thread @GlobalWealth. Hows the new project coming along with bulls coming back to play?

It's coming along nicely. I was in Germany 2 weeks ago buying a vanload of new asic hardware.

The mine has been profitable since day one. It took about a year or so to return the initial investment.

With each successive hardware purchase we have been (biased opinion) smart about our investments and have made sure to only purchase hardware when the return of investment is a maximum of 4 months.

We are nearly 2 years into the project and it is profitable and paying dividends to me and my partner monthly. It's not huge, but just another income stream.

Currently we are running the following hardware:

• 105 Bitmain L3+'s
• 12 Bitmain Z9 minis
• 14 Innosilicon A9's
• 10 Innosilicon A9+'s
• 63 Bitmain S9's

We are nearly at power capacity for our existing situation, but we are looking to add another 10 S9's and probably another 10 A9's. Once that is done, we will be at our limit.

All of the L3+'s have been overclocked and averaging 600mh/s.

I had previously overclocked the Z9 minis, but they aren't stable overclocked so much, but I have slightly tweaked them to get an average of 11k sol/s.

The A9's have all been overclocked to average about 60k sol/s.

I haven't figured out yet how to overclock the A9+'s so they remain at about 120k sol/s for now.

I have underclocked the S9's down to about 12.5 Th/s. I underclocked them to get more machines in the mine and found that the power savings to underclock was so big compared to the minimal decrease in Th/s. The result has been a higher Th/kwh. It has also allowed us to fit in more machines (higher net profit) and reduce the heat in the facility.

As you can see, it is a very small project but it is fun, interesting, VERY educational, profitable and aside from installation of new hardware takes very little time.

My business partner lives nearby and he goes to visit the facility 1-2 times per week (mostly because he is bored) and I am there only as needed, which is a couple of days every other month or so.

We have it all set up for remote access so I can do nearly everything from my laptop anywhere. The only things that require personal visits are if the modem or switches need to be physically rebooted or we blow a fuse (very, very rare), or we need to do a cleaning.

Additionally, we are building out nodes with some of our coin which generates an average of about 15% ROI (coin-coin roi).

Hope you find this interesting or helpful.

 

[James Fake]

@GlobalWealth - any thoughts on the halving as it pertains to your operations coming up in the future?

 

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[GlobalWealth]

@GlobalWealth - any thoughts on the halving as it pertains to your operations coming up in the future?

The halving is great for miners with low electricity cost like us. 30%+ of all miners will be unprofitable after the halving, which reduces difficulty.

The block reward is now half (of course), but that also means there are a ton of asic hardware selling for firesale prices right now (we just bought some).

We view it as a good thing. If you are paying more than 0.07c/kwh, you do not view it as a good thing.

We are also building out more nodes on a couple of different blockchains so we are compounding our gains with nodes.

 

[EdKirby]

@GlobalWealth This was a fascinating read. Thanks! Any news over the last several months?

 

[GlobalWealth]

@GlobalWealth This was a fascinating read. Thanks! Any news over the last several months?

There was tons of progress, but I just haven't posted.

But I sold my half of the biz to my partner earlier this month so I'm out.

 

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[MTF]

But I sold my half of the biz to my partner earlier this month so I'm out.

Could you share why if that's not private?

 

[EdKirby]

Thanks for responding!

If you’re still amenable to answering a few questions I’d like to know a little bit more about your experience in the mining biz.

Without getting too personal, would you do it again?

I’m curious about mining Ethereum. I’m a computer geek and building a GPU mining rig seems like it’d be fun. You said throughout the thread that you hated GPU mining but from what I understand Ethereum is ASIC resistant and GPU mining is the way to go with it. Can you comment on that? What’s been your actual experience between using the two technologies?

Thanks again, this was an interesting thread.

 

[GlobalWealth]

Could you share why if that's not private?

Partnership disputes.

I had a partner and it was a clear situation of "too many cooks in the kitchen".

He was more involved locally so he bought me out.

It worked out great actually for both. The business was growing as we were taking on clients so he will continue what we started and I cashed out nicely.

I'm in the process of launching a new company in my current space so the timing was good to allow me to focus.

I'm also seriously considering to launch a private crypto fund that would pay monthly dividends.

 

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[MJ DeMarco]

 

[GlobalWealth]

View attachment 36577

See there...I knew you were trolling me...