Is mining still profitable?

Ultra · 2020-04-27T20:07:30.000Z

Haha, well, it was one month ago. Heheheh. :p

Haha, well, it was one month ago. Heheheh.

I'd say no hence the overall cost of mining, if you have the capital to invest in expensive hardware then it will be profitable for sure, but for how long?

GPU mining is still QUITE profitable not as profitable as it once was but if u manage to get 20 gpus u can make a decent profit ~ 30$ a day

I have some ASIC miners around 30pcs, they good for heating. So you can heat any place(house,shop,garage) and make some money, because miners will cover electricity payment. So you'll get some profit.
But then summer will came

Right now yes but i think it depends where u located

Yes, if you have access to geo thermal energy!

I built a rig two weeks ago using some Ampere cards I got at MSRP right before the tariff hit. I'm currently burning 1000W at the wall and mining ETH at 372 MH/s. Power here is only 5.5c/KWH during the winter, so I'm looking at about $38 in power costs per month.

I've been receiving about $120-$150 worth of ETH every 5 days. Next payout is tomorrow.

Right now I am looking at a six-month ROI on the hardware, give or take. If the market falls out from under me I'll just sell the cards and come out ahead.

Originally Posted by AlphaCatalyst

I built a rig two weeks ago using some Ampere cards I got at MSRP right before the tariff hit. I'm currently burning 1000W at the wall and mining ETH at 372 MH/s. Power here is only 5.5c/KWH during the winter, so I'm looking at about $38 in power costs per month.

I've been receiving about $120-$150 worth of ETH every 5 days. Next payout is tomorrow.

Right now I am looking at a six-month ROI on the hardware, give or take. If the market falls out from under me I'll just sell the cards and come out ahead.

Hey, that's pretty good! Let us know how it goes in the long run

I don't think it is, it depends just do it for fun lol

short answer: no

For individuals, No. If you were to have some serious money to invest in the hardware and have access to seriously cheap energy, then it is profitable.

if you've got free electricity and engines, it won't make any good for you.

Would it still be not profitable if you sourced most of your parts through a refunding service through here? I imagine the ROI would come pretty fast in that case.

Originally Posted by CaptFaraday

Would it still be not profitable if you sourced most of your parts through a refunding service through here? I imagine the ROI would come pretty fast in that case.

Or you sell those items and do a bigger refund and repeat

I have a generator, pushes 30 amps and can run for 8 hours at high wattage on one tank. Would it be profitable then, as it only needs either propane or gas (which is relatively cheap here).

Also, for those who do own Bitcoin, you can leave it at bitco in for 4% APR, or a ABRA account for 5% APR. I am currently using both.

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