Bitcoin Forum

Hi,

I am new to mining and looking for suggestions and appreciate your help. Sorry for being a noob here.

I'm planning to build 8 GPU mining rigs each with 8x Zotac GTX 1070 mini. The electricity cost here is $0.12.

Motherboard: BIOSTAR TB250-BTC PRO 12 PCI
GPU:   8x ZOTAC 1070 mini 8GB DDR5
PSU:   ANTEC 1300 PLATINUM rating
HDD: SSD LITON 64GB
RAM: DDR4 Ram
CPU:   Intel Pentium G4400 Skylake Dual-Core
OS: Windows 10

Each rig is costing me around 5000 USD to setup.

While I was researching, I found about ETH going POS and some scary discussions about not getting enough profit and ROI. Is the future really this scary?
It is a big investment and I would really appreciate some suggestions here. Should I go for it or should I go for Antminer S9 instead of GPU mining?

Thank you very much.

You will get a variety of opinions here if you should or should not start down the road of GPU mining.  You are making a large investment up front and you likely will not break even on your project for 8-10 months.  Now that number could go up or down depending on prices of coins.  If you were mining now you could have knocked a bunch of time of in the last 24 hours if you were not using nicehash but the opposite could occur at anytime if the bubble pops and coins start crashing.  If you can afford to lose the money and dont need the income for some time I say go for it.  However, if this will put you in a bind financially then you should probably start smaller.

Is it too late to enter mining as ETH is going POS in 2018?

Yes, too late. Just buy coins.

well mining right now is profitable enough for you to buy a rig it always will be as long as new coins come and progress right now cryptonight and Lyra2REv2 are giving around 5-10 usd per day for pascal and polaris gpu cards.