Meet the Miners #1: Tobias E.

Meet one of our first remote mining customers, Tobias E from Sweden.

This is the first in our series where we will try to give you some insights into the sort of people who are hosting their machines with us in our Irkutsk facilities.

Tobias was one of our very first customers and he started with 5 pre-installed S9s. He is currently going through the process of ordering 5 more machines with our new Direct Delivery service from Bitmain. We like Tobias.

Where are you based and how long have you been mining?

Im based in Sweden and Singapore. Been mining since September 2017.

Are you mining full time. And if not what else are you doing right now?

I have a day job as engineer at an MNC and do mining part time as a small business.

“All in all it’s just another brick in the wall”

How did you hear about Cyberian Mine — and why did you choose to work with us?

I had been searching for an ASIC hosting partner for some time. I came across a Medium article and some Reddit posts which seemed like they were written by some people knowing what they were doing yet communicated clearly.

After being in touch I got a good impression and liked the approach. It seemed different from others especially with transparent pricing and a fair risk sharing arrangement.

The low power cost is also something I thought would be essential to remain profitable long term as mining converges closer towards power cost, especially if Bitcoin price movement will remain slow.

You have some GPU farms as well right? What’s the profitability difference between your GPU rigs, and the Antminers you’re now hosting with Cyberian Mine?

I operate a farm with a mix of 1070Ti/1080/1080Ti GPUs. Each GPU does around 2 USD per day with 20–25% of that power costs. Each ASIC is about 3 USD per day after all hosting costs with Cyberian.

GPUs have the advantage of their hardware resell value.

Bitcoin ASICs have a shorter break even.

Overall GPU and ASICs have their own pros and cons so I think profitability can be hard to compare. What I decided is to start doing both and diversify into ASIC mining.

“And after all, you’re my wonderwall.”

What’s your process for estimating earnings? And how do you feel about future models — you just bought five S9s, so you must still be quite confident in this generation of Antminers.

I use profitability charts and a basic excel earning/difficulty/breakeven prediction calculation.

Semiconductor technology for high power ASICs seem to have hit some sort of limit. The improvements from the new 10nm/7nm miners is not that great compared to S9. It also seems bitcoin miners are becoming a commodity with large supply. With low power cost i think S9 should remain competitive. So based on this I’m confident it should provide a longterm decent return.