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+--- Thread: Ethereum Mining Not Profitable for New Rigs? Ethereum Classic might be better. (/showthread.php?tid=5773247)
Ethereum Mining Not Profitable for New Rigs? Ethereum Classic might be better. - Cigаr - Dec 23, 2017
Hey guys, check this out. I made a post a few days ago about my rig I WAS going to build until I did these calculations on the Ethereum mining profitability calculator with difficulty increase.
From what I see, according to this calculator, a $3000 224 MH/s build will never be profitable. (Unless you already have one and it's paid off.)
This is assuming your 8 GPU rig costing you a total of $3000, consuming 1450 watts, at an electricity cost of $0.15/Kilowatt. (Los Angeles electricity price.) Of course, there is no guarantee the difficulty will increase %15/month but this calculator averages everything based on historical difficulty increases. This also doesn't take into effect the chance of Ethereum going up in price either.
The only upside to building this specific rig is getting it for only 1/3rd of the price if you mine until June, 2018.
![[Image: b441X71.jpg]](https://i.imgur.com/b441X71.jpg)
I suggest those just looking to build something cheap to mine altcoins hoping that they will go up builds something like this as this is what I am probably going to do also:
https://www.youtube.com/watch?v=ojZerk1oOjc
UPDATE: I plugged in the same specs into the same calculator for Ethereum Classic and the results were way better.
The same build has an ROI of about 8 months and expected to no longer be worth your while at the 42 month point.
![[Image: 116rYDB.jpg]](https://i.imgur.com/116rYDB.jpg)
RE: Ethereum Mining Not Profitable for New Rigs? Ethereum Classic might be better. - CyberAlien - Dec 23, 2017
What do you think: https://hackforums.net/showthread.php?tid=5772497
Should I go for it, or it's not worthy anymore?
RE: Ethereum Mining Not Profitable for New Rigs? Ethereum Classic might be better. - ᴍᴀʀɪᴏ - Dec 24, 2017
Your calculations are way off.
8 GPU rig peak usage is at 1000w.
Currently, a single 8 GPU rig makes 0.05 ETH per day. That's 1.5 ETH per month. Let's make it 1.2 ETH to be safe.
Let's also drop 0.2 ETH for electricity. That leaves you with 1 ETH per month. You can expect ETH to hit 1k soon so that's 1k profit per month.
If you are thinking of investing into mining for a quick ROI then simply don't do it, and these calculators...oh boy.
3 months ago I used every single mining calculator and they showed me 11-13 month ROI for all of my equipment. I still went all in.
Fast forward to today, I've paid off 80% of my investments. Mining IS and WILL be profitable for a while, just depends on how long you're ready to wait for ROI and if you have the heart to do it. You might hit the ROI in 2 months and you might hit it in 2 years. When you think about it, even if it's 2 years, it's still worth it.
Also, regarding the calculator you used... It factored in 15% difficulty increase but not price increase? As far as I know, whenever difficulty increases the value increases as well.
RE: Ethereum Mining Not Profitable for New Rigs? Ethereum Classic might be better. - Money Man - Dec 24, 2017
what gpu are you guys talking about?
I have multiple setups of 6 1060 6gb running at 550-600w
RE: Ethereum Mining Not Profitable for New Rigs? Ethereum Classic might be better. - ᴍᴀʀɪᴏ - Dec 24, 2017
(Dec 24, 2017 11:44 AM)Money Man Wrote: what gpu are you guys talking about?
I have multiple setups of 6 1060 6gb running at 550-600w
8x 580 8gb rig PEAKS at 1000w. It's usually around 930w.
OP is probably using the specs from the websites where it says GPUs use 250w each