If you have free electricity, then try building a farm on more modern video cards. RTX 3070 and higher. These video cards are excellent for mining on other algorithms and you will have a huge advantage over AMD video cards when Ethereum changes the algorithm. I read that it will be this year.
I would not buy the PX 5700 now
Topic: Need your advice (Read 103 times)
What makes you sure that 60mhs will be 1$. In this you must be prepared for worst scenario for example what if 60mhs=0.4$ is good for me?
At op free power = good.
gpu prices = bad
what will you be paying for those gpus's
6 x 700 = 4200 too much
6 x 400 = 2400 may work out.
I can not find a cheap 5700
used for 850 and no warranty
https://www.ebay.com/itm/353527825310?hash=item524fe6839e%3Ag%3AAbQAAOSwfxRgv-xf&LH_BIN=1
I got one in jan from amazon new with a warranty for 399
I picked a random ebay seller I do not know who he is
but 850 a card = you lose
400 a card = you may do okay
gpu prices = bad
what will you be paying for those gpus's
6 x 700 = 4200 too much
6 x 400 = 2400 may work out.
I can not find a cheap 5700
used for 850 and no warranty
https://www.ebay.com/itm/353527825310?hash=item524fe6839e%3Ag%3AAbQAAOSwfxRgv-xf&LH_BIN=1
I got one in jan from amazon new with a warranty for 399
I picked a random ebay seller I do not know who he is
but 850 a card = you lose
400 a card = you may do okay
Have you considered looking at how long it will take before you break even?
It would have been a good idea right before this Bull market started, Perhaps, last year when ETH was $200-$300 but right now? It's a very risky move given that your calculations are based only on ETH mining rewards. Apart from the market price dropping, It's now common knowledge that ETH POW won't be there for long, so you have got to think about your Plan B just incase Ethereum switches to POS anytime from the day you set up your mining farm.
It would have been a good idea right before this Bull market started, Perhaps, last year when ETH was $200-$300 but right now? It's a very risky move given that your calculations are based only on ETH mining rewards. Apart from the market price dropping, It's now common knowledge that ETH POW won't be there for long, so you have got to think about your Plan B just incase Ethereum switches to POS anytime from the day you set up your mining farm.
IMO, if you want to accumulate ETH, you are better off buying it vs building a farm from scratch. Hardware is still very overpriced and you likely will only have 6-9 months before the move to PoS. With 300 MH/s it would currently take ~5 months to mine 1 ETH and it will probably take even longer once the new ETH ASIC's being released raise the difficulty.
60MH per 1$ is still a good invest when bear market hit ETH mining reward? I'm planning on building a 300MH ETH mining farm with RX5700XT and that's 5-6$ per day, don't worry about electricity I have solar energy with good inverter/batteries
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