mining grid in india

Abhinav bansal asked 1 month ago

Hello, i would like to establish a mining grid in india. Could you help in establishing the cost of grid per Bitcoin per month. Can we also mine multiple currencies with a single grid?

1 Answers
Steven Hay answered 1 month ago

Hi Abhinav,
 
I think you should first check out this article of ours:
 

Is Bitcoin Mining Worth It?


 
Bitcoin mining has become a very expensive industry to enter. Unless you have very cheap electricity (relative to world average prices) in your area, it will likely prove unprofitable.
 
To calculate your potential returns, you’ll need to enter the details of your intended setup into this calculator:
 
https://www.coinwarz.com/calculators/bitcoin-mining-calculator
 
That will give you a rough idea. You’ll need to lookup the hashrate and costs for your intended mining hardware (only ASIC miners are profitable for Bitcoin).
 
As for mining different cryptocurrencies… Each crypto has a certain algorithm, for eg. Bitcoin’s algo is SHA-256. There are other SHA-256 coins and Bitcoin miners can mine those as well. GPUs can mine the highest number of different algos but they’re useless for mining any type of algo for which an ASIC has been developed (ASICs are much faster than GPUs).
 
 

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