How much would it take to set up a mining farm

[Bethel Victor]

Few people claim they earn a lot from a standard mining farm, how much do one need to set up a GPU mining farm, and is it profitable in the long run?

 

[Setho]

If you will want to start mining then you are definitely going to focus on bitcoin because ethereum has now moved to proof of stake. You will need to keep around $5000 for everything.

 

[eenya00]

building a mining machine would be very capital intensive, talk more of a mining farm, the value of the land alone would definitely cost a fortune to obtain, then the structure as well. definitely it would be a capital intensive project.

 

[Lynaia]

Some bitcoin mining machine cost between $2000-$20000. This just show that farm mining is a very lucrative business. A research on march show that almost$46,000 was the mining cost for procuring 1Bit coin in India

 

[Monster Masterpiece]

Some bitcoin mining machines cost between $2000-$20000. This just shows that farm mining is a very lucrative business. Research in march shows that almost$46,000 was the mining cost for procuring 1Bit coin in India

You do not need to have all the money for beginning a farm you could just take a loan from the bank to start such activity in peace. So do not complicate things.

 

[HayKay]

A mining farm is definitely profitable no matter how you choose to look at it. Not only are you assured of a steady return, you'll be able to earn more via referral legitimately. The cost of setting it up might be huge though.

 

[frederick_9]

Building a mining machine would require a lot of capital; if we were talking about a mining farm, the land value alone would undoubtedly be very expensive to acquire, not to mention the building itself.
It would undoubtedly be a costly project.

 

[eenya00]

Setting up a mining farm can be very expensive and would require you to be very calculative as well, though the size of the farm would determine the actual cost needed to start it or achieve the dream

 

[Prince]

A simple mining farm does not require huge amounts capital to start. With ASIC machines costing as low as $100, it's possible to start a farm in your basement. However, mining is a fast-changing industry. The Bitcoin mining algorithm changes almost every week

 

[Emmy]

The cost is actually ranges so you need to be specific when you want to buy the kind of equipments for your mining farm. However it takes $1000 upward to makes at least a Bitcoin but if you want in great, then spend $20000 and refer people.

 

[Good-Person]

You do not need to have all the money for beginning a farm you could just take a loan from the bank to start such activity in peace. So do not complicate things.

Personally, I would refrain from borrowing money in order to create a mining farm because it may take a really long time to generate enough revenues from mining and the term of the loan may end as well.

 

[Danny4cash]

You do not need to have all the money for beginning a farm you could just take a loan from the bank to start such activity in peace. So do not complicate things.

Is bitcoin mining still profitable? I know there was time that mining bitcoin was gold but now I don't think it worth one effort and time again. So, if it's not that profitable, I think it's risky taking loan from to invest it on it.

 

[Monster Masterpiece]

Is bitcoin mining still profitable? I know there was time that mining bitcoin was gold but now I don't think it worth one effort and time again. So, if it's not that profitable, I think it's risky taking loan from to invest it on it.

I am not mining with cryptotab browser or mining with brave reward program that offers free dimes to browse the internet, I am talking about having equipements of hardware or software about the inquiry. Like antiminer and this staff.

 

[Nomad]

I have never set up my own mining rig but a couple of years ago I was very interested and based on my studies, I needed just about $1000 to set up my own mining rig, mining farming would cost more.

 

[Planbizzle]

Few people claim they earn a lot from a standard mining farm, how much do one need to set up a GPU mining farm, and is it profitable in the long run?

The price of a mining farm can vary from a few hundred dollars to tens of thousands of dollars according to its size and functionality. Miners would also need to pay the electricity bill required to operate the computers and the cooling equipment necessitated to keep the processors from overheating in along with the cost of the hardware.