SOLAR POWERED cryptocurrency mining!!!! Can I do it? Hint: Winter sucks

[@bryforce1325]

Do you have a link for the future but moon landers? Would like to test mine as a test pilot.

[@diyrenewableenergyelectron4996]

You can find them on EBay but I was actually thinking about selling mine. [e-mail] if youre interested.

[@jsp762]

Why use the power to mine crypto rather then sell it back to the grid via grid tie system? Assuming the goal is to make money, that seems far more effective. But if the goal is to do something the average person hasn't seen, then it makes sense. Granted though this is pretty fucking cool lol.

[@diyrenewableenergyelectron4996]

The reason I decided to mine Cryptocurrency rather than grid tie is because I can make around 8-12 cents per kilowatt-hour by mining, while a grid tie system would pay probably 25% of that. I pay 16 cents per kilowatt-hour for the electricity from the grid but only would get paid 3 or 4 cents per kilowatt-hour for what I give back. It was clear skies yesterday and I was able to run the miner for about 6 or 7 hours and in that time I made about 46 cents (20 digibyte lol). Another reason is because Cryptocurrency prices are VERY likely to go up so my 46 cents that I made yesterday may be several dollars in the future. Thanks for watching! And thanks for the excellent comment.

[@diyrenewableenergyelectron4996]

Oh another thought. It would probably be most productive and profitable to just power stuff in my house with solar that I would normally power from the grid. That would be an immediate cost savings of 16 cents per kilowatt-hour (since it would be a kilowatt-hour I'm not using from the grid). I think the reason most people dont do this is because you need batteries which are expensive and it would take a long time to pay off. I like knowing I have power even without the grid, so batteries were a must for me. I likely will never pull in enough power to offset their cost, but I don't care. Haha.

[@jsp762]

@@diyrenewableenergyelectron4996 I appreciate the response. I'm now looking into rigs and stuff. Why did you start mining? Its a really intriguing thing, but nonetheless it doesnt to bring back profits. Only, if you have very cheap electricity. Or, used solar panels that power the rig independently from the grid. It would be cool to have a huge building with used solar panels (used because increases profits returns rather than buying new) and power an absolute shit ton of these rigs, all day, everyday. That, would be pretty epic

[@diyrenewableenergyelectron4996]

Yea I looked up the cost vs reward and I would need to pay about 6-7 cents per kilowatt-hour to be profitable on the grid. So I'm not even close to making money off the grid lol. In the summer I will likely get 12+ hours of runtime per day and that will bring in a decent amount of money. But building a solar system just for mining would be difficult and not worth it. Definitely cool! But not cost effective lol. I think it would be awesome to have a big warehouse with a ton of solar panels on it and a bunch of mining rigs inside. The costs on the rigs have come down a lot if you get older models. For most that won't work but for people who dont pay an electric bill directly it is worth trying out,

[@diyrenewableenergyelectron4996]

Another thing to consider is time horizon. Your idea of mining on solar MAY be worth it if you go big and find good deals. I'm doing a little research right now and the beauty of solar is you can expect them to perform for 20+ years. Thats a long time pulling power in from the sun. Used panels, big inverter/charge controller, it might work.....

[@offgridwanabe]

Very interesting but I'll use my excess electricity for heat lol. That being said a dump load to mine with after battery is full and capture the heat may be a winter project. We haven't had enough sun in the last week to even charge my 50 kwh battery

[@diyrenewableenergyelectron4996]

I have a friend who has a solar system running a few circuits in his house and I told him I was going to mine Cryptocurrency with my setup and he was confused lol. He couldn't understand why I would rather mine litecoin as opposed to reducing my electric bill. It's a bit of a gamble on my part, but I can always use the system for backup power if needed. I'm an odd duck. 😂 Do you heat water with your solar? Is it for showering or do you use it as a "water battery" to heat your house?

[@durangarc]

Go get it!

[@diyrenewableenergyelectron4996]

Thanks for watching! When I do an update video I am going to also report how much litecoin I have mined throughout the winter. Should be interesting!

[@rickrandom716]

Bit coin maining vs me gold mining up in the mountains just about $350 bucks profit after paying fuel and time I'm in nevada

[@diyrenewableenergyelectron4996]

How are you mining gold? Do you have a sluice box? I always thought it would be fun to plan a trip to the Rockies and pan for some gold just to see if I could find any.

[@rickrandom716]

@@diyrenewableenergyelectron4996 just got a small diy shaker to process the ore. but still need a mill crusher i only get a bout 3 to 5 grams per ton. Hey but im mining lol

[@diyrenewableenergyelectron4996]

Isn't 3 to 5 grams per ton quite a bit? I mean, its not a lot compared to how much material you move, but thats a fairly rich deposit right? What do you do with the gold? Prices have gone up quite a bit lately, 60+ bucks a gram now.

[@rickrandom716]

@@diyrenewableenergyelectron4996 is not bad but i know some people getting like 50 to 90 grams per ton. I'll probably be getting better ore as i get deeper on the veins and make more profit to invest on more machinery. now I'm still doing the milling manually

[@diyrenewableenergyelectron4996]

This is fascinating. And 50 to 90 grams per ton is insane! I know how much gold that is and what its worth and that is incredible! Do you do videos about your gold mining? I would watch.