My electric rate is $.173 USD
For every $1 of electricity I spend, I get $2.10 back in coin (mining ETH on Nicehash, converting to BTC)
In other words, half of everything i make goes to pay electricity. (and that was calculated 2 months ago when my electric rate was $.155, the rate increased on January 1).
Calculations were made when BTC at 22,000, so a little more profit today.
All equipment is late 2017, so: old 470's, 580's, vegas and 1080ti's.
The machines were turned off for just over 2 years as it was not profitable, and turned back on in March 2020.
For every $1 of electricity I spend, I get $2.10 back in coin (mining ETH on Nicehash, converting to BTC)
In other words, half of everything i make goes to pay electricity. (and that was calculated 2 months ago when my electric rate was $.155, the rate increased on January 1).
Calculations were made when BTC at 22,000, so a little more profit today.
All equipment is late 2017, so: old 470's, 580's, vegas and 1080ti's.
The machines were turned off for just over 2 years as it was not profitable, and turned back on in March 2020.
Shame if you had mined those 2 years and sold it all today....at $900+ per eth. Time is one of the costs of mining many people dont account for. Start mining today and you will make a little....mine for last couple of years and sell today...make a lot.
The right thing to have done would have been to NOT mined and instead purchased ETH with the amount of money I would have spent on Electricity. Live and learn.
