Is Ethereum Mining still profitable? - page 3.

ralle14

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Quote from: jfelix on September 10, 2018, 08:23:36 PM

Ethereum price is staying under $200 and I was wondering if mining is still profitable.

If you make an Ethereum Mining Rig today for $2500 that mines about 0.5 ETH per month, with the actual price you will need about 2 years to repay your investment.

It might take more than 2 years because of the pool fees and other expenses. Ethereum mining should still be profitable for some miners who have a lot of hash rate. The small miners are the ones that will be forced to move out.

Quote from: iamMhew on September 10, 2018, 08:51:52 PM

and the cost is just the rigs that you have unlike in investment that the cost/money is in the coins and not in your own hand. if you already have a rigs before, of course yes, it is still profitable to mine eth.

You forgot electricity cost adds up too since rates differ from each country.

Quote from: udayantha11 on September 10, 2018, 09:25:49 PM

Mining is not profitable now a days , due to electricity expenses too. if you go to cloud mining also not profitable. its better to invest on exchanges and wait for the next moves

Alternatively you can mine other alts if you have an existing mining rig.

Bitmore

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Perhaps the author of this topic was not simple business. I used to have a furniture store and you know what. If the business pays off in just two years it is a very good business. Do not chase easy and fast money. Perhaps it is because of the desire of easy money that the cryptocurrency found itself in crisis.

shkon5

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I don't think Ethereum mining is still profitable. Because the price of Ethereum is now very bad, the price is only $200. Mining now does even lose a lot. And I think the encryption market will not pick up again in the short term.

grimjoever

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well if we saw ethereum value right now i think is not. but if you want to keep it untill the price is rising, who know? maybe ethereum is gonna bounceback

bittick

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That obvious answer is depends. Electricity cost varies as well as the mining rig since a country will have different taxation rules, however investment wise if you don't sell it immediately or wait till the price is higher it might be profitable for you.
However at the current price, dont expect too much from it. most of people that are still holding on are those that has invested to it for a long time and they sure know what they're doing.

Xiao Mei Mei

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still, because in my opinion mining that can give us profit is only mining with coin Ethereum and Bitcoin.

Edsemen

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Quote from: iamMhew on September 10, 2018, 08:51:52 PM

thinking to get ROI instantly in mining is not the things that can easy to get in crypto, it is like you punching the moon while you are step in the ground. meaning at this current rate, the price of eth is not worth to invest in but to mine, because anytime the price of eth can rise while you mining it, and the cost is just the rigs that you have unlike in investment that the cost/money is in the coins and not in your own hand. if you already have a rigs before, of course yes, it is still profitable to mine eth.

The profitable mining rigs could possibly give you bigger earnings, but if you do it with eth holdings I guess you wouldn't wonder for capitalization for mining. You need to have enough buffer to reach your mining being operational.

blockfame

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If you have free electricity sure. Also if you believe pricing will continue to rise.

kiemnhieutien

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It is not only about the costs of hardware setup, miners have also pay for electric power, with the price of Ethereum at this time, miners don't have profits if electric price is expensive, especially in tropic country, they must pay for extra aircon fee to cool down the mine devices.

Dr.Lecter

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yes, i think the miner are dumping. that made the price of Ethereum is blood. Undecided

Ragnar Lothbrok

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in my opinion no, because now mining Ethereum is very difficult and the price of Ethereum is now very cheap, so my advice is better you are mining another coin that is more profitable.

icalical

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I do not think so, my fellow miner has sold most of their mining rig, and btw I am from Indonesia, which the price of electricity is not really expensive. They said it is not profitable anymore to mine Ethereum. So, I don't think it is profitable to mine Ethereum in any other place. However, some of them still mine on other profitable altcoins such as Monero and other cryptonight.

Westfiled

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Quote from: jfelix on September 10, 2018, 08:23:36 PM

Ethereum price is staying under $200 and I was wondering if mining is still profitable.

If you make an Ethereum Mining Rig today for $2500 that mines about 0.5 ETH per month, with the actual price you will need about 2 years to repay your investment.

And the block reward is still 3 right now and imagine if that will be decreasing again into 2 and it has confirmed by ethereum core developer to reduce the block reward from 3 to 2 ethereum for each block that has been solved by miners. that will decrease your profit up to 33% and then that will increase your ROI. think again before try to do anything.

quuyt4

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Ethereum mining now has no profit. The price of Ethereum is now very bad, and the electricity bill is very expensive. I don't think this year's encryption market will pick up in the short term.

udayantha11

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2023 would most likely be as bearish as 2022

Mining is not profitable now a days , due to electricity expenses too. if you go to cloud mining also not profitable. its better to invest on exchanges and wait for the next moves

iamMhew

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thinking to get ROI instantly in mining is not the things that can easy to get in crypto, it is like you punching the moon while you are step in the ground. meaning at this current rate, the price of eth is not worth to invest in but to mine, because anytime the price of eth can rise while you mining it, and the cost is just the rigs that you have unlike in investment that the cost/money is in the coins and not in your own hand. if you already have a rigs before, of course yes, it is still profitable to mine eth.

jfelix

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Ethereum price is staying under $200 and I was wondering if mining is still profitable.

If you make an Ethereum Mining Rig today for $2500 that mines about 0.5 ETH per month, with the actual price you will need about 2 years to repay your investment.

How to Mine Ethereum Guide

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