Bitcoin Mining to Heat my office in Winter


Bitcoin Mining to Heat my office in Winter

Bitcoin Mining to Heat my office in Winter

Posted on Nov 14, 2014 by Paul White

After upgrading my graphics card ealier in the year, I gave up on bitcoin mining.  Not because the returns were quickly dropping as the Hive's Hashing power continued to increase, but because of the amount of heat a monster video card creates.  That combined with a hot texas summer, and a home office that does not have a dedicated AC unit, instead its central air, caused me to prefer comfort over Mining.  But with it now being mid November and temperatures dropping in Texas,  I had a new reason to Start Mining again.  To Keep my office warm and cozy.

Firing up my Bitcoin Miner again

I use the BitMinter Client v1.6.1  This Java powered Mining App is easy to use and visually pleasant, especially for those new to Bitcoin Mining.  By today's Standards my Mining Hardware is nothing to get excited about.  They have USB sticks today that sell for $15 that can mine 10X what my video card can do.  But now that I have turned my video card into a small office heater, I started wondering how much bitcoin could I make at today's Rates?

Today Bitcoin Rates

The last time I wrote about bitcoin I posted a chart showing how much bitcoin you could mine at various Hash Rates.  I have revised the number for today's hashing values.

How much you will make Today at the following Hash rates?

These assume the current ( 11/15/2014) Difficulty Factor of 39603666252.4, and a BTC value of $378.31

Hash RateBTC Mined Per Day$ Per Day (24 hours)$ Per Month (30 days)
100 Thps1.26984839$502.75$15,302.32
1 Thps0.01269848$5.03$153.02
100 Ghps0.00126985$0.48$14.62
10 Ghps0.00012698$0.05$1.46
1 Ghps0.00001270< $0.01$0.15
500 Mhps ( ME )0.00000635< $0.01$0.07
1 Mhps0.00000001$0.00$0.00

My Mining Rig Returns

My Video card is mining at about 500 Mhps.  This means  I am making about 7 cents per month.  Not a very good return.  At least its keeping my office running nice and warm.

If you search on ebay you will find thousands of guys selling their old mining hardware.  You can buy USB mining sticks for under $10 now.  However at current rates it will take you years to pay for it, assuming the difficulty doesn't continue to climb to infinity, of which it likely will.  Buying a Miner today is more the novelty than anything else.  Its kind of like putting a 20 watt solar panel on your home just to say you did it.  

What kind of Return will Various Mining Hardware give me

Below are some of the Miners you can buy off ebay.  Once again we will use today's current Bitcoin to USD conversions to calculate what kind of return we make with various hardware.

PhotoNameHash RateCost ( Ebay )Revenue / Month
ASICminer Block Erupter USBASICminer Block Erupter USB333 Mh/s$13.70$0.05
Antminer USBAntminer USB1.6 Gh/s$27.99$0.23
Rockminer R-BoxRockminer R-Box32 Gh/s$83.33$4.68
Bitmain Antminer U3Bitmain Antminer U363 Gh/s$89.99$9.21
Bitcoin Miner Avalon BTCBitcoin Miner Avalon BTC1.3 TH/s$1650$190.09

The sad truth is none of these machines will pay for themselves within a year when you take into account electricity usage, cooling, and the rising difficulty of mining.  By the time you have paid for them, they will be worth pennies on the dollar due to better hardware that will be available on the market.  

As much fun as it would be to fill my office with miners, Its not a very wise investment.


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