HACKER Q&A
📣 rishikeshs

I have free electricity, should I mine crypto?


I’m looking at an apartment to move in and it comes with free electricity and water as part of the contract.

Considering this and a budget of $1000, is crypto-mining profitable in 2024?

Some concerns are: budget limit of $1000, noise, heat!


  👤 h2odragon Accepted Answer ✓
does it concern you that someone will be paying for the electricity you use? Neighbors, landlord, town?

If the building had a swimming pool, would you think it ethical for you to sell tickets to the public to use the pool? Is what you propose different?


👤 JohnFen
That sounds like an excellent way of encouraging the apartment complex to start individually charging for electricity.

👤 PaulHoule
This is in your price range no?

https://www.aliexpress.us/item/3256806964200030.html

With a similar device (the above is an S21) it is claimed you can earn about $5 a day with NiceHash (I think a Bitcoin miner pool)

https://www.nicehash.com/profitability-calculator/bitmain-an...

the device then pays for itself in 4-5 months.


👤 voidUpdate
Another concern is your landlord might wonder why you're using so much electricity and have a word with you about it

👤 amerkhalid
Read your lease carefully, there maybe a clause that restrict mining or other abuse of "free" electricity. They may not have individual power meters but they may have other means to determine if one of their tenants is using too much power.

👤 VoodooJuJu
I suggest not doing that because it would violate the spirit of the perk. This is likely to result in you ultimately losing that perk, and losing favor with the lord, who may not wish to renew your contract.

Also, crypto in 2024? Come on, dude. That ship has sailed. If you want to grift, AI is the current thing for that.


👤 sfmz
Dedicated bitcoin ASICs are too loud for an apartment complex. Also they require (edit) 220v instead of the normal 110v.

👤 edpichler
I strong recommend you to do not start doing this without talking to your landlord first.