NineZeroNine

A lot has changed since my last post about 3 weeks ago. My mining efforts are still going strong; I’m mining around 1.2 gh/s. The  biggest news by far is the value of a Bitcoin has soared to over $14 USD per BTC. The volume is up too which means several things.

1. Bitcoin is growing!
2. The difficulty is increasing rapidly.
3. The power of the network is increasing.

Number one is self explanatory. More people are mining/buying/selling Bitcoins and more retailers are accepting them. Two and three are sort of two-in-one. More people are mining and existing miners are adding power to their rigs. This in turn increases the difficulty so mining blocks stays around the same (around 8.5 blocks/hour). This is expected, its built in to the system.

For my personal effort, I have good and bad news.

The Bad

Since the difficulty increased around the same time my new rig came online, my BTC/day stayed around 2.5. I was able to hit ~4 for a day before the difficulty went up. Another thing, heat. The heat my three machines produce turns out to be border line ridiculous. I actually had to move two miners to separate rooms. With temperatures in my area climbing to over 100ºF, I actually had my miners off for a few days.

The Good

I BROKE EVEN. Being a miner, this is the best feeling in the world. Everything from here on out is pure profit (aside from power, which is minimal considering a $14 Bitcoin).

As difficulty increases I will obviously make less money which is fine considering it is technically free. Given the rate the Bitcoin is increasing in value, this should be a while. I don’t think I will add any more power to my effort but it has been fun and profitable. Until then, keep up with all the latest news over at Bitcoin News.

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