Frequently asked questions
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1. “How does it work If I want to host with you guys at Bitcoin Mining Company out in Iowa?
First we will see how many ASIC miners you want to host. We do not offer GPU hosting currently at this time. Then from there, you need to purchase one of the ASIC miners at bitcoinminingcompany.io, and also purchase hosting via the “Hosting” tab of the same site. The hosting is $300 per month per ASIC miner and that includes all electricity and management costs. A 2 month deposit is required.
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2. If we host with you… do you overclock the ASIC miners?
We will run it and overclock it to the best of our ability, but if you want to use your own settings we can do that as well. We make sure all of our settings are perfect for profitability, while also making sure the ASIC miner(s) has the ideal settings and conditions to run consistently for years.
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3. What miners do you have available?
Our available ASIC miners are available on our website here below:
https://www.bitcoinminingcompany.io/collections/hardware-sale -
4. How did your company get into crypto and mining?
Our employees all have their individual stories; however, our company was started 3 years ago when our founder (Darryl) purchased ASIC miners and hosting from another mining company. After Darryl started to buy a few machines, this company was not able to provide hosting for the additional machines that Darryl wanted to get running and
hosted. This later spun into our company that now runs over 500 miners across facilities in Iowa and 1 in Illinois!
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5. How experienced is your company and team?
We have mined millions of dollars worth of Bitcoin and have decades of experience in the crypto industry between our staff. That includes both in the mining, and investing side of cryptocurrencies.. We’ve been there through the ups and downs of Bitcoin and other cryptocurrencies.
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6. What made your company focus on mining instead of investing in Bitcoin and other cryptocurrencies?
Our staff does invest in cryptocurrency; however, we have found that you can accumulate more cryptocurrency over a given period of time if you choose to mine. For example if you deploy a $100,000 into Bitcoin right now and 1 Bitcoin is worth $40,000. If it stays at $40,000 at the end of the year, then you really didn’t lose or gain anything. You were just in the market for a year. If you invest into miners you can accumulate Bitcoin on a daily basis and it doesn’t matter if the price goes up, down, or stays the
same.
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7. What is the ROI on your ASIC miners?
Our S19’s and Avalon’s have a 12 month ROI when Bitcoin is at $60,000 for 1 Bitcoin.
a) When Bitcoin price is around 40k to 50K USD the ROI can be 18 months.
b) When Bitcoin Goes past 75K the ROI can be around 12 Months.
c) When Bitcoin Goes past 100K the ROI can be around 6 to 8 Months. The best plan we think is to hold all your bitcoin and sell between 70k to 100K to get the best ROI and then continue to mine5 Avalon’s or S19’s = about 1 Bitcoin mined/profited a year. Ideally miners take out their investment in 12-18 months and since these machines last for 3-4 years or longer, all
the other Bitcoins you mine. You can hold or choose to sell, but for now, we recommend
holding. -
8. How do they work?
Basically you get Bitcoin miners, either a Canaan Avalon 1246 85Th-93Th or a Bitmain
Antminer S19j Pro 100Th-104Th. You would need a 240V power outlet to run them.
These machines only mine Bitcoin and send it to your wallet daily. It’s plug and play. 5 of
those machines would make you roughly 1 Bitcoin a year. 10 would make you 2 Bitcoin
a year… and so on. It's a passive income opportunity for you to start mining now and
stack Bitcoin for 4 years which is the minimum life span of one of these machines. You
get paid everyday in passive income to your Bitcoin wallet.
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9. How much is the delivery fee?
Pricing listed on our website includes delivery fee to your door.
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10. How much is the delivery fee?
The miners have a 12 month warranty from the manufacturer. We can help with getting parts and shipping any damaged parts to China or California to get your miner running as soon as possible. We also have 24/7 customer service for any troubleshooting or configuration issues that may arise. If we have spare parts we can replace it and swap it out at our office in Clive; however, we cannot guarantee that we will have spare parts.
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11. What’s the power needed to mine with GPUs or ASICs?
You would need to have 240 volt power and roughly 5 amps of power for every ASIC mining machine. Standard households can run 3-4 GPU’s because they use less power, but eventually power upgrades will be needed. In the United States, you can USUALLY get 240 volt power installed for $1,000 to $1,500 or less. While you can run off 120 volt power for GPU mining, your number one goal is to get your voltage up because that will directly affect your efficiency rating. It will essentially help you get more on to less amps, and overall decrease your power bill at the end of the day.