Should I rent a Mining Rig?

[Blawpaw]

I stopped mining last year but now I miss mining

I still have some GPUs (Ati 5850, Ati 6950, Ati 7950) but that's not enough...

Meanwhile, I have done some research and found that I can rent some rig to add up to my mining operation. Still I'm not pretty sure if that would be worth it!

Would you consider renting mining Rigs? If so, what would be your strategy?

[philipma1957]

I stopped mining last year but now I miss mining

I still have some GPUs (Ati 5850, Ati 6950, Ati 7950) but that's not enough...

Meanwhile, I have done some research and found that I can rent some rig to add up to my mining operation. Still I'm not pretty sure if that would be worth it!

Would you consider renting mining Rigs? If so, what would be your strategy?

I rent from nice hash and west hash.  I spot mine here and there.  right now I am mining at solo.ckpool.org with a rental from west hash


http://solo.ckpool.org/users/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje

[Blawpaw]

Ok, But do you consider it to be profitable? Or is it better to have your own rigs?


also, the mentioned link doesn't get me anywhere...

[notlist3d]

I rent from nice hash and west hash.  I spot mine here and there.  right now I am mining at solo.ckpool.org with a rental from west hash


http://solo.ckpool.org/users/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje

Ok, But do you consider it to be profitable? Or is it better to have your own rigs?


also, the mentioned link doesn't get me anywhere...
[/quote]

Normally you will be paying more then what the rig would have made mining straight BTC.   So yes you are paying more for rental.

The strategy... use a pool with luck and hope you have good luck.   It's kinda gambling is what I consider renting.

What is your electricity price? You might be better off owning machines.

[Blawpaw]

I rent from nice hash and west hash.  I spot mine here and there.  right now I am mining at solo.ckpool.org with a rental from west hash


http://solo.ckpool.org/users/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje

Ok, But do you consider it to be profitable? Or is it better to have your own rigs?


also, the mentioned link doesn't get me anywhere...

Normally you will be paying more then what the rig would have made mining straight BTC.   So yes you are paying more for rental.

The strategy... use a pool with luck and hope you have good luck.   It's kinda gambling is what I consider renting.

What is your electricity price? You might be better off owning machines.
[/quote]

Hum...
probably would be better off with my own ASIC mining rigs...

Do you know what are the best Asics and where I can buy them?

[notlist3d]

I rent from nice hash and west hash.  I spot mine here and there.  right now I am mining at solo.ckpool.org with a rental from west hash


http://solo.ckpool.org/users/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje

Ok, But do you consider it to be profitable? Or is it better to have your own rigs?


also, the mentioned link doesn't get me anywhere...

Normally you will be paying more then what the rig would have made mining straight BTC.   So yes you are paying more for rental.

The strategy... use a pool with luck and hope you have good luck.   It's kinda gambling is what I consider renting.

What is your electricity price? You might be better off owning machines.

Hum...
probably would be better off with my own ASIC mining rigs...

Do you know what are the best Asics and where I can buy them?
[/quote]

I would do ROI math.  What is your electricity price?  Does your country have import tax/vat?

And it depends if you want new/used or what you want.   What miner are you looking at?

[Amph]

this is about bitcoin mining, but if you want to rent for altcoin mining you should mine new coin at launch with huge hashing power rented for a few hours, this was the old strategy used by everyone in 2014, i don't know if it still working but you could give it a try

some time there are some miners that offer a very low rate, becaus maybe they a very cheap electricty or they are not aware about random obscured coins that might be profitable

[notlist3d]

I think if you rent a Mining Rig for mining Bitcoin its not worth again, because today mining Bitcoin have more difficulty. 

My strategy is you can search new coin at Alt-Coin announcement section and you mining thats new coin, with that you can get a bigger profit compared with mining Bitcoin. 

New alt-coin is a double edge sword.   Yes you might be able to make more, but since there is only so much hash out there for rentals normally prices go up.  If it's one people believe in it can go up drastically, we have seen it in past.

I still would like to know OP's electricity price and if vat/import tax.  I think owning vs renting is better.  Even if you have to use a data center to host chances are better then long term rental.

I view those who use rentals as partial gambling.  Depending on their luck and pool they might make money might not.   If you go big and solo mine yes you could gain a lot, but takes a lot as well to try to get a block.

[Blawpaw]

I think if you rent a Mining Rig for mining Bitcoin its not worth again, because today mining Bitcoin have more difficulty. 

My strategy is you can search new coin at Alt-Coin announcement section and you mining thats new coin, with that you can get a bigger profit compared with mining Bitcoin. 

I'll probably give it a try. Rent some Rigs and mine some new coins.

Presently I have found out  Nicehash and mining rentals; I still need to do some math to see which one is better!

[notlist3d]

I think if you rent a Mining Rig for mining Bitcoin its not worth again, because today mining Bitcoin have more difficulty. 

My strategy is you can search new coin at Alt-Coin announcement section and you mining thats new coin, with that you can get a bigger profit compared with mining Bitcoin. 

I'll probably give it a try. Rent some Rigs and mine some new coins.

Presently I have found out  Nicehash and mining rentals; I still need to do some math to see which one is better!

Normally nicehash is cheaper then the rental sites where you pick the rig and rent it.  On nicehash they throw all the hash together, seems to be cheaper this way (most of time).

I have not really put it out there but your welcome to use my referral if you want: https://www.nicehash.com/?refby=4544
( non referral link - https://www.nicehash.com )

I thought about possibly trying to do something fun for people to use my referral.  But considering I have 0 referrals so far I have not made it to this point.  But if I could get a decent amount to use it I could do some fun things. 

[philipma1957]

@ op did you try nicehash or westhash? let us know how it worked for you.