How to start a Bitcoin mining Operation Part 1

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October 4, 2016, 5:20 pm

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How to start a Bitcoin mining Operation Part 1

Hello today im going to be talking about starting a small Bitcoin mining operation. Some people think its really hard to start one, and its really not actually its super easy. You don't need to be really smart or a tech geek to do this either. i am just an average person no degrees no special backgrounds except marketing.

First thing you need to do is find a well ventilated place dry and as cold as possible. I chose to use my garage it has 2 windows. Depending on how many machines you have you may or may not need to add vents and or exhaust fans. You could also use a basement but you have to make sure you have windows so that you can ventilate the heat. If you don't mind the noise humming from the basement this could cut down on your oil or gas bill.

Second thing you need to do is hire an electrician to run 240V Outlets to your building. Electricity is the most important thing in mining, using 240V cuts down on amperage. You should also have the electrician take a usage read while your at full load before you add miners. This will give you an idea of how much your using without miners. Most houses come with 100 amps or 200 amps standard the inside of your breaker box will tell you this. Subtract what your using from your total and what you get is what you have left for miners in terms of amps. SHA 256 miners currently use about 1300 watts or 5.6 amps on 240V. If you do not have electricity in your garage you will need to add a meter have the the electric company run another line from the pole to your new meter.

Third thing you need are a few network and house things like: sturdy racks, ethernet cables, 240V plugs, 12 Port switch, and a decent computer. These things do not need to be super expensive. Make sure what you get it up to date atleast but nothing on this list has to be top of the line. The last thing you need and most important is the most up to date mining hardware and power supplies on the market over at Bitmaintech.com.


So i will continue this on part 2 we have alot still to talk about. As always guys i appreciate you reading and i hope you enjoy this one.

Please don't forget to follow me.

https://www.seoclerks.com/user/jkeyz2

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ProAdvert9

Did you took in consideration the way of free energy? Like solar or wind power? At the beginning you could start with a low performance mining hardware that is powered by a small solar panel or something similar.

Then you can calculate the profit and make plans to create a bigger business.

1 8 years ago

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CryptoGuru

Well sir i wish it was that easy lol. We have been mining almost a year now and we looked into solar panels. In order to supplement the amount of electricity we use we would have to invest almost 350,000 dollars in solar. I would love to not have to pay Eversource all of my money, but the ROI would be to long. Trust me this mining stuff is profitable but the electric company has the market cornered. We have talked about maybe doing it once we are making fifteen to twenty grand a month to supplement a fraction but that is still in the works. We are always looking for investors big and small to join us in this epic journey. Hopefully we find someone who sees our vision.

0 8 years ago

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Lynne

Thanks Kjeyz2. So far this looks quite simple and easy to follow, I am with you so far!

I like what ppscslv has said about power, I wonder if solar or wind power would help. Does it really use a massive amount of power?

One thing about my country is that sometimes we have what is called "load shedding where our power company which has a monopoly cannot keep up with the demand for electricity so at times they cut all the power to towns in turn for a few hours each day.... yes it sounds crazy but welcome to the third world LOL

0 8 years ago

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CryptoGuru

Yes a mining operation would be impossible to run on a large scale. you better off getting a in home machine that have silent fans and run it on 120V. If someone with alot of money went to your country and made a deal with the electric company they would have to invest into better equipment and whatever they needed to power the operation. I think for the rite price they would gladly accept the offer. Solar is to expensive i have not looked into wind.

0 8 years ago

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Cristian

What about cold weather? I'm thinking of starting a mining operation system in my tools shed, its is ventilated and dry, but what the optimal temperature should be? I'm guessing both heat and cold to be bad for the servers and my shed has them both, high heat in summer and pretty cold temperatures in winter.

0 8 years ago

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CryptoGuru

When choosing a location picking a cold place is best for the miners. If your shed is insulated it might be a problem in the summer without proper exhaust. The winter time would be awesome they would hash higher because the optimal temp in the area is about 0-30 degrees Celsius. The area around the machines should be lower than that because you have to remember the chips always run hotter than the temp around them. When running your shed in the winter you may not need as much exhaust going on. These are not servers and they throw off a bunch of heat, also make sure your not to close to a neighbor because they are loud.

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Corzhens

I am disappointed that this discussion is just about the environment of the computer as if we are designing a computer room in the olden times. Anyway, my interest in Bitcoin is the concept behind it. What really is mining? Who pays you the Bitcoin and where does it come from? What do they get when we spend time and electricity for that mining activity? What will they obtain when you run the computer 24/7?

0 6 years ago

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