I am not trying to discourage people from mining! sorry, not my intent! I don't know how long you've been mining for (most likely for awhile if you have a farm) but within the last year in order to mine lets say #LTC you need at least 10-15 miners if your gonna do anything profit wise. You can't start off with one miner and then build into it. By the time that 1 L+3 (504MH) makes enough to buy another miner your diffucluty just went up again!
I am all FOR MINING but starting off with 1 miner isn't gonna do anything unless your GPU mining Dogecoin.If you go to coinwarz.com and use the mining calculator you'll see 1 litecoin miner with 504MH will only net you 1.5 LTC A MONTH!.
BUT, if litecoin goes up in value $1000 over night as you mine then yes you can do it and build a farm slowly. But the days of building a farm with 1 miner or 1 GPU miner is over.
If you want i can post a video of a bussinies consulttent who explains all the captil your avg ASIC farms needs to start!
- cheap power
- reliabe ISP provider ( if miner lose Internet connection for more 4 min they catch on fire)
- cheap rent
- 2000sq ft bare min
- needs to be secure
All these things apply to any farm but in this video he was talking Bitcoin which needs WAY MORE start-up captil then any other coin. He said starting cap for a Bitcoin farm is 500K. Now i know where talking LTC here and not BTC but that was just a example.