Just make sure you are prepared to hold it. Bitcoin just recently was at $280. If you had bought it a week or two ago, you would have paid more.

UPDATED http://rgsneddon.thescribe.eu/#post117

My S5 has died in a puff of electrical smoke.

After some investigations yesterday, I have concluded:

my S5 was running along-with an SP20 on a 1600EVGA 80+ gold PSU
cabling was all 14AWG (2 x double headed pci-e cables on S5 and 4 single headed pci-e cables on the SP20 - all 14AWG)
The SP20 was underclocked and pulling only ~700w - the S5 was set at 218FREQ, so was also quite heavily underclocked. There is no way that these were maxing out the PSU capabilities.

One of the cable sockets which was attached to the S5 had melted at the PSU side and the controller board on the S5 is fried.

The miner now powers up but won't send/receive packet data. I can only presume the lan function on the controller is dead.

furthermore: the SP20 is still mining although the GUI is gone and I need to ssh manually start cgminer in terminal/putty to run it.
SP20 recovered but still no GUI. it now mines on reboot with no need to ssh cgminer command.
I'll be recovering the SP20 today, I fear that the only thing that will recover the S5, is a new controller board, but i'm not that technically minded to be able to replace it, so....

S5 is shelved, if anyone thinks they can get it working, feel free to make me an offer on it. I'm sticking with my Spondoolies miners.

Am I confusing myself or it's true that we will never break even with this S5 miner?

I have a space which rents is 180USD/month, including 13 Amps, 220 Volts; Which I consider is the cheapest place I could rent for mining at this moment.

This is my calculation:

https://i.imgur.com/pEmm1ag.jpg

Unless BTC priced at 430+, else we would't be profitable at all.

Correct me if I am wrong please.

Only factoring in one S5? You could run 4 with the power you have, without increasing the monthly cost (I presume), which makes it a far more attractive proposition.

Isn't I should use 0.8 on power factor ? Looks like I can't contain 4 miners in 13 Amps socket.

If BTC is now 260-270USD, difficulty seems going up, then S5 for price 401USD + shipping is very overpriced.
I wanted to buy around 30 units, but price have to be  less then 350USD.

Which mining hardware is?

ANTMINER S5 Price Drop - 15% Discount Off

• Batch 4        $0.295/GH/s
• Bulk Batch 4  $0.27/GH/s

Shipping on January 12th, You may freely choose the shipping service level with your own wallet  

Coupon
Coupons have been issued to all customers who ordered S5 before price drop  


BITMAIN

January 5th, 2015

Its hard not to point out that that is well over 1BTC/TH - a price that was considered competitive at only slightly lower efficiency over a month ago, and when bitcoin prices were almost 50% higher.

Definitely holding off on the hardware orders until price pops back over $400