<p>
This is one of the posts of "How profitable is Bitcoin mining?".
<ul>
<li> <a href="https://steemit.com/bitcoin/@c2c/how-profitable-is-bitcoin-mining-answered-in-an-idealized-model-part-1">(Part 1) Answered in an idealized model</a></li>
<li> <a href="https://steemit.com/bitcoin/@c2c/how-profitable-is-bitcoin-mining-part-2-analysis-of-genesis-mining-using-an-idealized-model">(Part 2) Analysis of Genesis Mining using an idealized model</a></li>
</ul>
</p>

<hr>

<p>
According to Giga Watt's <a href="https://giga-watt.com/promo/plans">Standard Miner Options</a>:
ASIC S9 13.5 TH/s, price 0.5751 BTC, 1455.3 W (=1323 W * 110%).
It should mine about 0.00409 BTC per day. The total hosting fee is ¢9.75 kW/h.

<br>

<img src="https://image.ibb.co/nsh3qQ/giga_watt_miner_options.jpg">

</p>

<p>
Given k=4 and a0=0.00409, in a year the mined Bitcoin becomes about 0.806 BTC and the accumulated maintenance fee becomes USD 1242 (~ 0.0975 * 1.4553 * 24 * 365, USD 3.41 per day).
</p>

<p>
Further, we assume the Bitcoin price is a constant (USD 2700, today's price).
In about 310 days, the fee is greater than the value of the mined Bitcoin (~ 0.00409 * k**(-309/365.0) * 2700), and the mining is no longer profitable after then.
</p>

<p>
The reward until then is about 0.352 BTC (0.742 BTC minus the accumulated maintenance fee USD 1053).
</p>

<hr>

<p>
You can save your hosting fee as low as ¢3.30 kW/h, if you have <a href="https://cryptonomos.com/wtt/tokens">Giga Watt Token (WTT)</a>. If you have 1455 WTT, then given k=4 and a0=0.00409, in a year the mined Bitcoin becomes about 0.806 BTC and the accumulated hosting fee becomes about USD 421 (~ 0.033 * 1.4553 * 24 * 365, USD 1.153 per day).
</p>

<p>
Further, we assume the Bitcoin price is a constant (USD 2700, today's price).
In about 595 days, the fee is greater than the value of the mined Bitcoin (~ 0.00409 * k**(-595/365.0) * 2700), and the mining is no longer profitable after then.
</p>

<p>
The reward until then is about 0.7085 BTC (0.9626 BTC minus the accumulated maintenance fee USD 686).
</p>

<p>
The net profit is BTC 0.1334 (≒ 360 USD).
</p>

<hr>

<p>
According to <a href="https://cryptonomos.com/wtt/tokens">the ICO website of Giga Watt tokens</a>, you can rent out tokens at the rental fee ranging over 4.2 to 6.45 ¢/kW/h.
Thus, the annual rental income of 1455 WTT would range over USD 535.32 to USD 822.10.
Renting tokens would be better than accomodating your own miners at Giga Watt.
<br>
<img src="https://image.ibb.co/jjzcH5/giga_watt_rent_out_tokens.jpg" alt="giga_watt_rent_out_tokens" border="0">
</p>