mining hardware is it profitable????

[arwin100]

hey guys im planning to buy mining hardware do find it profitable?? and also im looking forward to rent a pool is it profitable??

[Zinkin]

You can mine some coins such as Ethereum profitably. But if the price drops, you will not get back your original investment.

[arwin100]

Oh i see. I want to mine bitcoins that is profitable or other coin is profitablte

[djm34]

You can mine some coins such as Ethereum profitably. But if the price drops, you will not get back your original investment.

which means it isn't profitable

[Blue_Panda73]

Oh i see. I want to mine bitcoins that is profitable or other coin is profitablte

If you buy miners now. It will not be profitable to mine bitcoin if your electricity is higher than $0.1/kWh. The block reward will be halved and the difficulty rises too fast.

[Za1n]

As has been pointed out, if you buy new hardware you will most likely not make ROI anytime soon, if ever. Most of the people you see on here that are mining have left over rigs or components from their previous days of mining scrypt or other alt coins. Thus since they already had the equipment in place, and assuming it was already paid for from previous mining efforts, they can now currently make a bit extra off mining ETH as it is returning roughly 4x its power cost.

While this sounds great consider that a single 7970 is currently hashing at about 22 MHS, producing maybe 0.8 ETH per day. In an average mining rig, this card will also draw about 200 watts of power if optimized properly. (This figure is based upon draw from the wall from an average rig with 4 GPUS and the motherboard/CPU power overhead evenly dived amongst each card.)

So to summarize, each 0.8 ETH will cost you 4.8 KWh of power daily. So as long as the 0.8 Eth is worth more than your KWh draw per day you are in profit. At today's exchange rate and a power cost 0f 0.10 per KWh you would be making roughly $1.50 per day after costs per card. Considering even a used card will set you back around $150, it would take nearly 100 days to ROI. This of course does not include the other components needed to build a rig and the countless other parts people often overlook, riser cables, racks, fans for cooling, adequate power, etc.

This also assumes everything stays constant. Recent history has shown mining revenue drop from about 1.2 ETH per card a day to 0.8 ETH a day. So even with the recent rise in price, the revenue is slowly declining over time, thus casting doubt on even the optimistic 100 day ROI above.

Long story short, if you already have the equipment or can buy it as fire sale prices, you will probably not make back your investment. If you just want to buy a few parts and play around with it a bit as a hobby, you might get most of your money back, but again look at it more as a hobby that a profit stream. Of course GPUs are still finding some usefulness nearly 2 years after mining scrypt with them became unprofitable, so who knows, maybe new GPU mine-able coins that turn a profit will continue to appear.

TLDR: Mine with a GPU as a hobby not to get rich.

[kotarius]

Considering even a used card will set you back around $150, it would take nearly 100 days to ROI. This of course does not include the other components needed to build a rig and the countless other parts people often overlook, riser cables, racks, fans for cooling, adequate power, etc.

Excellent writeup. But, I think it is necessary to address the above point.

When you buy a GPU, it doesn't turn into a brick. It is still worth something. Consider a 40% hardware depreciation year-over-year (i.e. computer hardware loses value at 40% per year). During this 3 month ROI, you will lose approximately 10% of the value of the GPU, leaving you with $135. At the end of your mining period, you can sell your GPU and recover some costs associated with its purchase.

[Ueshiba]

What about buying used ASICs from local classifieds sites?
There maybe good values once in a while.
"Buyer Beware" of course.

[Yatsida]

What about buying used ASICs from local classifieds sites?
There maybe good values once in a while.
"Buyer Beware" of course.

ASIC is only useful for mining Bitcoin and litecoin (Srypt). They are useless after the difficulty jump. For graphics card, you can sell afterwards.

[BruceLee007]

Yes it really is,  you can check profitable is some websites , i can give you link http://www.litecoin-hardware.net/hardware/chart

[quadriple7]

yes if your planing it sereusly and you are not low budget guy than i suggest doing that .

[patricken]

It is profitable to mine Ethereum at the moment if you already have the graphics cards. But the difficulty rises fast. You may not ROI if you buy cards now.