With Bitcoin around 8000, people are once again excited about mining Bitcoins. But does it make sense for YOU to order a mining rig and start mining yourself?
Frankly, no, unless you live in an area with extremely cheap electricity.
You can play with the profitability calculator. http://www.bitcoinx.com/profit/
Remember to plug in the cost of the rig (assume Antminer S9 cost $2000, 1600W, produces 14 TH/s), and cost of your local electricity (assume $0.13/W), AND the current BTC/USD conversion (use $8000)
Even at the current prices of $8000 USD/BTC, you won't break even for 5 MONTHS (breakeven is calculated for 140-160 days depending on electricity costs). The ONLY way this can be profitable is you setup where electricity is cheap, like in India and China, where electricity is 1/3 less than in the US.
