Mining ROI or Profitability

0

0ldways

Limp Gawd
Joined
Sep 28, 2010
Messages
138
I have been seeing the comments for months now. My setup seems to be doing well, even with the current slump in price per hash. I made a simple spreadsheet to verify my thoughts, and I am satisfied with the results. Maybe my electricity is cheap enough, or this current "global warming" record low temperatures is the reason. I am in Louisiana, to clarify.

I have many rigs running, and all but 2 are inside my air conditioned apartment (the other 2 are in an outside storage area, and on the same electric circuits). My quicky spreadsheet shows me clearing $140 per month AFTER electricity AND 105 Mb internet with Comcast.

I am quite happy with this paying for all of that, and don't understand some of the bitterness I see in various forums. I know this game is not as profitable as it was, but it still seems viable to me.

Some of these are 750ti machines, and I have roughly 7MH of ASIC doing LTC (running on Windows comps that are already mining).

If I seem to be blowing smoke, I apologize. I still make some money, and get discouraged by some of the posts I see.
 
I am using total electric bill and internet bill (total, including what I would pay with no machines running). Roughly $425 per month electric plus 125 internet (last month was $370 electric) as a maximum of what I have seen. At present, my miners are making approximately $665 per month. At .01 for DRK, .004 for XMR, and .012 for LTC. Power and Net is $525 total as a guesstimate. I would be using Net anyway, and probably half of the power. Maybe a third? I'm not trying to start a controversial thread! I will be offline for the next 5 weeks, at work around the world. I just would like some actual numbers from the serious miners, to compare with mine.
 
My rigs were more than paid off with the Darkcoin explosion. I'm not really considering them, but thinking about new machines. I just added 2 Fury/Blizzard miners, because I got them for $88 delivered. I was more looking at how long ROI would be beginning now, with new hardware.

Disclosure for comparison purposes:
4 750ti x 6 card machines
1 750ti x 4 card machine (with 2 blizzard/fury attached)
1 280X x 4 card machine
1 750ti x 2 card machine (with 5 gridseeds attached)
1 r9 270 machine (with 5 gridseeds attached)
1 280X x 2 card machine (with 6 gridseeds attached)
1 7970 x 3 card machine

Tracking by the month shows a profit from mining, even now. Trading makes a huge profit at times
 
it's the 750ti's you have. They hash great and don't burn much power. For most of us we have a ton of 7850's and worse. Hell many of us were running a bunch of 6950's. If all of your power were the 280x's you'd be making nothing at all.

Right now I'm trying to make the decision of buying a bunch of 750ti's or not with the money from selling quite a few of my ineffective cards.

If you were to sell your 280x's and put that money into more 750ti's your profitability will get even better.
 
That's impressive. I have access to really cheap power and I don't run my rigs. It's just not worth it at the moment for me. They're all AMD based. It was kinda a bummer-moment taking them apart the other day. Considering rebuilding with 750ti's (they're $130 now).

Are you mining betarigs/nicehash or straight coins? What's your total MH/s?

Interesting enough, I see that ASIC's are starting to be advertised for Scrypt-N. I think I remember seeing that the VTC crew would hardfork if one ever came out for it, so we'll see if they hold to their word. Same was said for LTC and we all know how that turned out.
 
I have approximately 30 750ti cards. They do 2600 khash each on X11. I am still using version 1.1 because of couple issues with 1.2. I get about1500 hash on XMR for a 750ti 6 card rig (tsiv fork). They only use around 275 watts, if I remember correctly. XMR has been really good for the last couple months. XMR is decent on AMD cards, even using the private miner (Claymore 6.1). Decent being breaking even or better.

If you find the correct "launch" coins, you can still make considerable money. This requires a LOT of your time, and true dedication. I am outside the USA with shitty internet 70% of the time, so I can't play that game much.

Spidey, I have many of the EVGA SC cards, and have concentrated on more power efficient for the last 3 months. AND heat efficient for my apartment. I let my ASIC (16 gridseed, and now 2 fury/blizzard) run LTC. WeMineLTC runs for months without interruption, and I make about 1/3 LTC per day at 22k difficulty with these, obviously with the low wattage. Set it and forget it. It makes a little per day, with very little maintenance. I will probably buy some more "what I consider cheap enough" ASIC during the next months, because I love the concept. All of these are run on Windows. I won't add any machines just for these. I figured out how to restart my gridseed miners remotely, and I do all of that through Teamviewer. This is good, because I am in Asia more than the USA anymore.

As I said in the earlier post: I am using my TOTAL electric and internet cost to calculate this. Mining pays my complete electricity and internet cost, and still makes some small profit. I would pay for 105mbps internet, and "some" electricity without mining. I still invest. I have an investment in the Crypti IPO. I think (hope!!!) that will turn out well.

The people who originally mined were pioneers. The people who continued are probably independently wealthy now. This never been a game for people who could not take a risk. The guys/girls who did this are epic. The people who got out are probably smarter than me, wih the current situation. I intend to play the game until I lose money CONSISTENTLY. I will baghold for months, just because of the returns I have seen.

DRK is still one of my standards. XMR might be the future? Crypti? It's a wild world. I like these 3, and like the game. I wish I had thought the BTC revolution was more than a scam......
 
I mined for a few months and popped in here to see how things are rolling. Thinking about getting into the game. Thanks for posting useful info :) trying to find mining related stuff for cheap is still pretty hard.
 
pliskin679 said:
I mined for a few months and popped in here to see how things are rolling. Thinking about getting into the game. Thanks for posting useful info :) trying to find mining related stuff for cheap is still pretty hard.
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Forget about GPUs right now. You'll never pay them off.

If you can get some ASICs for stupid cheap, you might be able to pay them off eventually.
 
Parja said:
Forget about GPUs right now. You'll never pay them off.

If you can get some ASICs for stupid cheap, you might be able to pay them off eventually.
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If you started mining Monero a few months ago you'd have paid off your cards (or just nearly). Guessing there will continue to be opportunities for GPUs for some time. But if you're just looking to set it and forget it - then yeah, GPUs aren't a good choice.\

I will say I am glad I never bought into any ASICs, everyone I know has lost money on them, while my GPUs have racked up enough profit to build a massive ASIC farm if I really wanted to. No way in hell I'd do that though.
 
Wait, so GPU mining is still viable? A bunch of coworkers and I have been toying with the idea of starting a pool but it's hard to find ASICs that actually ship now from a trustworthy company. Originally we wanted to go with about 10 grand worth of Neptune ASIC rackmount boxes but we're still waiting for them to start shipping and actually be available before we put money on them. We don't want to preorder as there's too much risk involved. Video cards would take some of the risk away since at least they arn't useless on their own and can be repurposed and same with the actual boxes they'd be running in. In fact if I was building mining servers I'd make sure to use a CPU that has VT so the servers can be used as VM servers if mining becomes unprofitable. Heck could possibly do both at same time as I don't think the two tasks would conflict with each other.

A/C would be a non issue, once I build my server room hvac system it will use a combination of crawlspace and outside air based on season/outside/inside air temp. The hottest the cold aisle would get is like 30C and that's during heat waves. Worse case scenario I'd shut the rigs down during that time.
 
Parja said:
Forget about GPUs right now. You'll never pay them off.

If you can get some ASICs for stupid cheap, you might be able to pay them off eventually.
Click to expand...

I'm still managing to pay my GPU purchases off. I just bought another round, and with all of mine running it will be paid for soon. I must admit that it would take a long time, if ever, if I was only figuring for new purchases. So your statement stands as far as buying and starting from scratch. Adding to previous machines, I come out profitable every month

And I managed TODAY to pay off my ASIC that I had previously bought 3 months ago (I calculate these separately). I'll fire up the new round of cheap ones when I get back to the states. I make more than what the "hashlet" figures show, especially when mining new P&D junk. Sometimes MUCH more.

This game will still pay. You will rarely make the massive profits realized before, but it will still make money. Investing could be more enjoyable to some of you guys. I'm a hardware guy, like most of you. I invested .8 BTC IPO 6 weeks ago, and sold 6% of my purchase back at immediate launch. This returned my investment. The other 94% is now in a coin that AT PRESENT is worth 12 BTC. Sorry people, I got WAY off topic...

Drunk and rambling in Thailand
 
dejacky said:
What mining software do you use with windows?

Thanks for sharing :).
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Depends on video card and coin, but normally it will be sgminer/sphminer for amd cards and cudaminer/ccminer for nvidia.
 
Mining for AMD is rough at the moment. I've got a farm where i manage over 120 R9 290 cards (my business partner's), as well as my side with 45 7950s / 270s / 280xs and i can tell you now there is 0 profitability @ .11kwh for the AMD stuff simply due to the hash / watt ratio of the cards. Not even the 270s undervolted are profitable. That being said, I ROI'd my stuff and then some over the winter alt-coin extravaganza, but since a few months ago we've shut everything down because the price of BTC just doesn't support our costs.

NVidia, on the other hand, has it quite a bit better at the moment due to the efficiency of their designs. Unfortunately i never experimented with any NVidia cards, but i do know from friends that it is quite possible to make profit if done correctly. They are happily mining away with CUDAMiner and CCMiner, so it's still workable for them.

The one trick up the sleeve for those who claim profitability with their mining ops is that some have managed to get ahold of unreleased kernels for their mining software, or are devs who do their own inhouse optimizations. This researcher at CMU is a prime example of this type of advantage.;
 
atp1916 said:
Mining for AMD is rough at the moment. I've got a farm where i manage over 120 R9 290 cards (my business partner's), as well as my side with 45 7950s / 270s / 280xs and i can tell you now there is 0 profitability @ .11kwh for the AMD stuff simply due to the hash / watt ratio of the cards. Not even the 270s undervolted are profitable. That being said, I ROI'd my stuff and then some over the winter alt-coin extravaganza, but since a few months ago we've shut everything down because the price of BTC just doesn't support our costs.

NVidia, on the other hand, has it quite a bit better at the moment due to the efficiency of their designs. Unfortunately i never experimented with any NVidia cards, but i do know from friends that it is quite possible to make profit if done correctly. They are happily mining away with CUDAMiner and CCMiner, so it's still workable for them.

The one trick up the sleeve for those who claim profitability with their mining ops is that some have managed to get ahold of unreleased kernels for their mining software, or are devs who do their own inhouse optimizations. This researcher at CMU is a prime example of this type of advantage.;
Click to expand...

I believe that last paragraph is wolf0 who did all the X11 optimizer and finally released it because someone leaked the private bins.
 
oblox said:
I believe that last paragraph is wolf0 who did all the X11 optimizer and finally released it because someone leaked the private bins.
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Not quite, this is squaggle / dga who had optimized the public monero cpu miner (cryptonote) to the tune of 5k profit a day.
 
Red Squirrel said:
Wait, so GPU mining is still viable? A bunch of coworkers and I have been toying with the idea of starting a pool but it's hard to find ASICs that actually ship now from a trustworthy company. Originally we wanted to go with about 10 grand worth of Neptune ASIC rackmount boxes but we're still waiting for them to start shipping and actually be available before we put money on them. We don't want to preorder as there's too much risk involved. Video cards would take some of the risk away since at least they arn't useless on their own and can be repurposed and same with the actual boxes they'd be running in. In fact if I was building mining servers I'd make sure to use a CPU that has VT so the servers can be used as VM servers if mining becomes unprofitable. Heck could possibly do both at same time as I don't think the two tasks would conflict with each other.

A/C would be a non issue, once I build my server room hvac system it will use a combination of crawlspace and outside air based on season/outside/inside air temp. The hottest the cold aisle would get is like 30C and that's during heat waves. Worse case scenario I'd shut the rigs down during that time.
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The catch is you have to guess the right flavor of the month Ponzi coin. But that's as accurate as saying you can make great money off of penny stocks. Yes some can.
 
Red Squirrel said:
Wait, so GPU mining is still viable? A bunch of coworkers and I have been toying with the idea of starting a pool but it's hard to find ASICs that actually ship now from a trustworthy company. Originally we wanted to go with about 10 grand worth of Neptune ASIC rackmount boxes but we're still waiting for them to start shipping and actually be available before we put money on them. We don't want to preorder as there's too much risk involved. Video cards would take some of the risk away since at least they arn't useless on their own and can be repurposed and same with the actual boxes they'd be running in. In fact if I was building mining servers I'd make sure to use a CPU that has VT so the servers can be used as VM servers if mining becomes unprofitable. Heck could possibly do both at same time as I don't think the two tasks would conflict with each other.

A/C would be a non issue, once I build my server room hvac system it will use a combination of crawlspace and outside air based on season/outside/inside air temp. The hottest the cold aisle would get is like 30C and that's during heat waves. Worse case scenario I'd shut the rigs down during that time.
Click to expand...

I fully expect GPU mining to pick back up one of these days.

If you're a permabull like me, there is never a better time to be picking up rigs than now.
 
Not going to lie, the used Cointerra Terraminers IV's at $500 give or take are looking pretty attractive. Wouldn't be profitable at my residential rates, but my family has commercial property at $0.05 kwh which would make an ROI in about 4 months (not the worst I have seen). I doubt I will do it though. Kinda nice not worry about mining any more.

EDIT: Obviously contingent on difficulty and coin price. I for see BTC holding $300 so that leaves the wildcard being diff.
 
mikeblas said:
Why do you think it has support at that level? What will stop the slide?
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The amount of buy support that chewed through supply at $300 on bitstamp for one. Convergence of trendlines around the $260-$275 level.

You obviously don't have to agree with me.
 
Is GPU mining really still viable? I feel like in comparison to ASIC miners, GPU is very disadvantaged. Correct me
if I'm wrong though.
 
Threet3n said:
Is GPU mining really still viable? I feel like in comparison to ASIC miners, GPU is very disadvantaged. Correct me
if I'm wrong though.
Click to expand...

Some coins yes, depending on power usage, but anything scrypt/scrypt-n and sha-256 is out right from the start. X11/13/15 can be as there aren't any ASICs out there mainstream. It's debatable, but likely, that there are FGPAs out. If your power cost per kwh is north of $0.10-0.12 USD, I personally wouldn't bother.
 
Threet3n said:
Is GPU mining really still viable? I feel like in comparison to ASIC miners, GPU is very disadvantaged. Correct me
if I'm wrong though.
Click to expand...

Absolutely don't even bother with GPUs. Too much heat, too much noise, too many things to fry & fans to break from heavy use. Even with the new algos out going the GPU way is like buying a boat to compete in a road race.
ASIC is the only way to go, but only if you can get a good deal on miners. A lot of companies price their goods so people barely break even on their investment, then by that time they are left with a hunk of junk. It's definitely worth it though if you can get good deals on gear AND/OR play the markets. if you play the markets and are good it is absolutely worth it.
 
rive22 said:
Absolutely don't even bother with GPUs. Too much heat, too much noise, too many things to fry & fans to break from heavy use. Even with the new algos out going the GPU way is like buying a boat to compete in a road race.
ASIC is the only way to go, but only if you can get a good deal on miners. A lot of companies price their goods so people barely break even on their investment, then by that time they are left with a hunk of junk. It's definitely worth it though if you can get good deals on gear AND/OR play the markets. if you play the markets and are good it is absolutely worth it.
Click to expand...

Where's the facepalm emoticon when you need one? If you want to play a market, at least play a real one with stuff that has intrinsic value. Bitcoins have no value above the electricity it takes to generate one and whatever arbitrary value people want to assign to them. In other words, they're Pet Rocks. Save your breath trying to argue that paper currency is the same thing, because it isn't.

You also can't short bitcoins so it skews the market. Everyone hoping bitcoins always go up leads to the giant swings bitcoins has had.
 
dr/owned said:
Where's the facepalm emoticon when you need one? If you want to play a market, at least play a real one with stuff that has intrinsic value. Bitcoins have no value above the electricity it takes to generate one and whatever arbitrary value people want to assign to them. In other words, they're Pet Rocks.
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:rolleyes:

The real facepalm is why the Bitcoin haters post OT crap like this drivel in a Mining ROI / Profitability thread.

Want to know the "intrinsic" value of your opinion here?

Zero. Nada. Zilch. Go and thread-crap somewhere else.
 
dr/owned said:
Where's the facepalm emoticon when you need one? If you want to play a market, at least play a real one with stuff that has intrinsic value. Bitcoins have no value above the electricity it takes to generate one and whatever arbitrary value people want to assign to them. In other words, they're Pet Rocks. Save your breath trying to argue that paper currency is the same thing, because it isn't.

You also can't short bitcoins so it skews the market. Everyone hoping bitcoins always go up leads to the giant swings bitcoins has had.
Click to expand...

How many people do you know that recommend something when success in one way or another isn't part of the equation? Altcoin trading is big game where millions of dollars are traded weekly and sometimes daily with the right coin. Often hundreds of percent can be made in a weekend if played right. This is not regarding Litecoin or Bitcoin. You are attempting to appear superior in this half ass attempt of a post when to many of us we just see ignorance. Use your brain, don't embarrass yourself.
 
You can short bitcoins just like you can short anything else. Just because a current market doesn't have an easy to click on button to get a job done doesn't mean you cant do it. There was once a time were there were also no easy ways to exchange bitcoins it didn't stop people from doing it. The skew in the market doesn't have anything to do with that it has to do with bitcoin being designed to always be a deflationary currency.
 
rudy said:
You can short bitcoins just like you can short anything else. Just because a current market doesn't have an easy to click on button to get a job done doesn't mean you cant do it.
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The way I short any other issue is with an easy-to-click button.
 
oblox said:
The amount of buy support that chewed through supply at $300 on bitstamp for one. Convergence of trendlines around the $260-$275 level.

You obviously don't have to agree with me.
Click to expand...

And I'm glad I didn't!
 
rudy said:
You can short bitcoins just like you can short anything else. Just because a current market doesn't have an easy to click on button to get a job done doesn't mean you cant do it. There was once a time were there were also no easy ways to exchange bitcoins it didn't stop people from doing it. The skew in the market doesn't have anything to do with that it has to do with bitcoin being designed to always be a deflationary currency.
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Hey bro can I borrow your bitcoins? I'd like to sell them today and I'll give you some other ones tomorrow.

That's about the only way to short bitcoins. At least with stocks even back in the day you could call up your broker and effectively borrow shares that other customers had on hand.

Bitcoin or any of the -coins have no infrastructure in place to short them, so it's de facto not possible to do it in any significant volume compared to the buying.
 
Thanks for proving to everyone you have no clue how shorting works which only shows that you have no idea how markets work, did you ever in that think about the most basic motivation for any of this? Why would I let you borrow my bitcoins? Am I your grandpa or something? I just have a kind heart?
 
mikeblas said:
And I'm glad I didn't!
Click to expand...

Yeah, that got chewed up hard.

rudy said:
Thanks for proving to everyone you have no clue how shorting works which only shows that you have no idea how markets work, did you ever in that think about the most basic motivation for any of this? Why would I let you borrow my bitcoins? Am I your grandpa or something? I just have a kind heart?
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Well, you are "borrowing" shares to short. In the case of equity stocks, your broker is lending them to you from any of the stock holdings that have margin available which you then sell at market value and hope the price decreases so you can buy them back, closing your position ideally at a gain (and return the shares to the borrowed party). This all happens behind the scenes. If you're referring to just selling your existing coins to buy them back cheaper, you aren't short in the traditional sense.
 
rudy said:
Thanks for proving to everyone you have no clue how shorting works which only shows that you have no idea how markets work, did you ever in that think about the most basic motivation for any of this? Why would I let you borrow my bitcoins? Am I your grandpa or something? I just have a kind heart?
Click to expand...

Nope, that's kinda how shorting works. I borrow the bitcoins from you (and pay you interest on them - that's your motivation). I sell them on an exchange and then at a future date buy back the coins and return them to you.

With where bitcoin is ultimately going I think you'd be better served by selling them yourself.
 
He never said he was going to pay me interest or motivate me in anyway.
 
So I still have my machines running. Mostly 750ti, but the AMD are still feasable on certain algos. I've been mining at"break even" plus a very small margin on DRK and a few P&D coins. Has anyone seen the price of DRK lately? Mine and hold made me a small fortune in the last 2 days. This coin (DRK) continues to innovate, and I expect this dev to continue. I still have a few other favorites, and have made money on coins I won't mention to keep the fanbois noise down.

NO, buying new GPU machines will not pay off anytime soon without "flash in the pan" crap. BUT, If you have modern recent hardware, you can still score at times.
 
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