Hello to the altcoin mining community,
I'm very seriously thinking of purchasing one (1) unit of the Bitmain Antminer L3+, for mining using NiceHash or some other mining pool. I've been following cryptocurrencies for 3+ years now, but I'm a newbie when it comes to mining. I know that mining Bitcoin is now almost unprofitable for small-scale setups, so I thought that the L3+ may be a suitable choice, considering that Scrypt mining is still not as heavily saturated as SHA256. The profitability figures shown in NiceHash are remarkable, see below:
Past earnings for the Antminer L3+:- Gross income: 1,187 EUR/month
- Electricity cost: 115 EUR/month (@ 0.2 EUR/kWh)
- Net profit: 1,072 EUR/month
Now, here in Europe, the L3+ can be bought for around
3200 EUR, including the power supply, VAT and shipping costs, and I will have it in my hands on
December 2017, which is very late considering the fast pace things are changing in this space.
Notice the above title: "Past earnings", which leads me to the question: what should I expect to get from this miner in the future? What about the change in difficulty for Litecoin and other Scrypt coins? Also note that the electricity costs where I live are quite high (around
0.2 EUR/kWh), a non-negligible negative term in the equation.
So, what do the experts here think? Does it make sense financially to set this rig up? Is it economically viable? Will I achieve ROI in a reasonable amount of time (if ever)? Is it worth the money, time and effort? On paper it looks great, but I worry that it may just be too good to be true...
Alternatively, should I investigate using graphics cards (GPUs) for mining?
Many thanks in advance for any comments, suggestions and advice you can give me.
