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So I've been reading about this topic for a while and am still unable to figure out somethings (or at least I need some confirmations). I looked on the internet for a mining hardware and I've chosen one to make my calculations, here is my example: 1- hardware: antminer S5 (1155 GH/s) 2- running costs (electricity (power and cooling), internet, space) are zero for now. 3- using this calculator https://www.cryptocompare.com/mining/calculator/ltc for litcoin inputing the above gives a revenue of $ 17,011,841.74 / year!

can someone explain if this is true or whatI did wrong with this?!

user1221612
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    maybe interesting? According to: [Does this unit ONLY mine bitcoins? If I wanted to mine say litecoins would that be possible?](https://www.amazon.com/forum/-/Tx32T21C1YW6RFU/ref=ask_dp_dpmw_al_hza?asin=B00RCTIY4G), it cannot be used for litecoin ;-/ – Ryan Vincent Jul 31 '16 at 10:20
  • Yes interesting, how about cup mining for coins like mxr? Is it cost effective? – user1221612 Aug 02 '16 at 17:49

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The problem is that the miner you are looking at (Antminer S5) is an ASIC miner, specifically designed for SHA-256 mining. Litecoin is Scrypt mining, and requires a different type of miner.

You can not mine Litecoin with an Antminer S5. If you mined Bitcoin, you'd be looking at $22.24 / month, or $272.52 / year running your miner 24/7 with zero electricity costs.

Tom Kysar
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  • If I have access to a cloud provider for free like azure, can I make money mining a cpu coin? Like mxr for instance or is there a better choice for cpu mining? – user1221612 Aug 02 '16 at 17:51