Do you have plan on extending your mining such as mini farm with few rigs (plan A), or just stick with 300 mhs (plan B). If it's A, you should mine for long term holding, for B, I think it's mostly like your hobby. I'm the guy who love mining, and I keep building more rigs for mining ETH, but the cost I need to pay is just ~0.087$/kwh. So the key points for your references: GPU's price is very expensive these days, and your electric cost is very expensive (0.26$/kwh).
Btw, for your other concerns: I prefer mining ETH rather than nicehash, and of course your rig could last even more than 3 years.
Topic: First mining rig opinions (Read 177 times)
Hello,
Have been active in crypto for about 6 months now and thinking about buying my first mining rig.
Thinking about mining etherium or just let it run on nicehash. (Approx. 300 mh/s system)
What do you think is this profitable or is it better to just invest the money in crypto?
Power is quite expensive here about 0,26 usd per KWH
Is it also true a system will last about 2/3 years?
Know about the calculation sites but not sure if these are accurate.
Thanks
Have been active in crypto for about 6 months now and thinking about buying my first mining rig.
Thinking about mining etherium or just let it run on nicehash. (Approx. 300 mh/s system)
What do you think is this profitable or is it better to just invest the money in crypto?
Power is quite expensive here about 0,26 usd per KWH
Is it also true a system will last about 2/3 years?
Know about the calculation sites but not sure if these are accurate.
Thanks
What do you do for the past 6 months? Trading? if you're good at it, better stick to it for the meantime, however if you know what you're doing for mining like beating challenges on seeking competitive cheaper mining gear, considering difficulties, coin price decreases and future mineable coin capabilities of your gear, then join the club.
And yes, system will last for about 2-3 yrs, but no one knows if its still profitable for the next days, months or year which is true by now based on your power rate per kwh.
300 MH/s is quite low.
I am building now a Mining-Farm with 150 Rigs each 230 MH/s with 6 GPUs due the fact to buy such an amount of hardware each rig cost me 3400 Euro.
Powercost are 0.08 Euro.
But only with solomining ... i will get round about 31,5 GH/s from them.
Daily Powercosts are ~ 230 Euro,
rentment for datacenter round about 10 Euro,
human resources ~ 100 Euro,
profit ~ 1340 Euro.
So that 1000 Euro daily will let me reach my ROI something between 470 - 520 days, depending on the exchange-rates.
But with 300 MH/s and such high powercosts it will be hard to reach roi
I am building now a Mining-Farm with 150 Rigs each 230 MH/s with 6 GPUs due the fact to buy such an amount of hardware each rig cost me 3400 Euro.
Powercost are 0.08 Euro.
But only with solomining ... i will get round about 31,5 GH/s from them.
Daily Powercosts are ~ 230 Euro,
rentment for datacenter round about 10 Euro,
human resources ~ 100 Euro,
profit ~ 1340 Euro.
So that 1000 Euro daily will let me reach my ROI something between 470 - 520 days, depending on the exchange-rates.
But with 300 MH/s and such high powercosts it will be hard to reach roi
A 300/mhs system will cost you quite a bit in the current market with the high demand for GPUs. My personal recommendation is to wait this dip out and see what happens to the market over the next couple months. The difficulty is super high right now with all the new miners in the market and the price across the board does not reflect any positive movement. You are better off taking that money that you would buy a rig with and buying directly into a few coins. This would ensure you make a decent profit IF the market recovers. Investing all the money in mining now and you would not only have to have the market recover but also for a long to recover your investment and make a profit. If you invest in the coins you just need a small increase to make a profit in the market. In the current climate, option 2 seems more likely.
Hello,
Have been active in crypto for about 6 months now and thinking about buying my first mining rig.
Thinking about mining etherium or just let it run on nicehash. (Approx. 300 mh/s system)
What do you think is this profitable or is it better to just invest the money in crypto?
Power is quite expensive here about 0,26 usd per KWH
Is it also true a system will last about 2/3 years?
Know about the calculation sites but not sure if these are accurate.
Thanks
System can last longer also if you take care of it well but that power cost is quite expensive already compared to what others pay for mining so you are competing with miners who pay .04-.10 cent USD for power to make money out of mining, make up your own mind Have been active in crypto for about 6 months now and thinking about buying my first mining rig.
Thinking about mining etherium or just let it run on nicehash. (Approx. 300 mh/s system)
What do you think is this profitable or is it better to just invest the money in crypto?
Power is quite expensive here about 0,26 usd per KWH
Is it also true a system will last about 2/3 years?
Know about the calculation sites but not sure if these are accurate.
Thanks
Hello,
Have been active in crypto for about 6 months now and thinking about buying my first mining rig.
Thinking about mining etherium or just let it run on nicehash. (Approx. 300 mh/s system)
What do you think is this profitable or is it better to just invest the money in crypto?
Power is quite expensive here about 0,26 usd per KWH
Is it also true a system will last about 2/3 years?
Know about the calculation sites but not sure if these are accurate.
Thanks
I would strongly advise you against spending such a large amount of money into a mining rig, especially at this time being. Your calculations are based on today, difficulty and many other factors WILL alter your calculations and will significantly affect your ROI (Return of investment). Moreover, there are discussions of Eth going off GPU mining. Have been active in crypto for about 6 months now and thinking about buying my first mining rig.
Thinking about mining etherium or just let it run on nicehash. (Approx. 300 mh/s system)
What do you think is this profitable or is it better to just invest the money in crypto?
Power is quite expensive here about 0,26 usd per KWH
Is it also true a system will last about 2/3 years?
Know about the calculation sites but not sure if these are accurate.
Thanks
Hello,
Have been active in crypto for about 6 months now and thinking about buying my first mining rig.
Thinking about mining etherium or just let it run on nicehash. (Approx. 300 mh/s system)
What do you think is this profitable or is it better to just invest the money in crypto?
Power is quite expensive here about 0,26 usd per KWH
Is it also true a system will last about 2/3 years?
Know about the calculation sites but not sure if these are accurate.
Thanks
Have been active in crypto for about 6 months now and thinking about buying my first mining rig.
Thinking about mining etherium or just let it run on nicehash. (Approx. 300 mh/s system)
What do you think is this profitable or is it better to just invest the money in crypto?
Power is quite expensive here about 0,26 usd per KWH
Is it also true a system will last about 2/3 years?
Know about the calculation sites but not sure if these are accurate.
Thanks
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