Ethereum mining profitable?

[alwayzgame]

i wanted to setup a mining rig if anyone is mining can u tell me if its worth the try?

[vikas]

i wanted to setup a mining rig if anyone is mining can u tell me if its worth the try?

use mining calculator to check profitability

[bitcoinisfurture]

Check out the below link and see if its useful for you.

http://ethereum-mining-calculator.com/

[manav1112]

I've been mining ETH now for past few months and I realised some methods to increase the revenue.

You can use Claymore Dual Mining

or

Use miningrigrentals and the price at which you rent a rig there to other people is around 0.00035/MH while your revenue from just mining eth is much less than that.

I have other methods for after the mining, but thats the two for during mining 

[bitcoinisfurture]

As per present situation to mine 1 ETH, how much time it takes and the present cost associated to it for you?

[manav1112]

As per present situation to mine 1 ETH, how much time it takes and the present cost associated to it for you?

It all depends on the setup! I am lucky I never sold my rig and my litecoin mining rig from 2013 was used. So I didnt have any cost really but I calculated even if I did buy from new I would have broken even within 1 month of my mining starting (I started in 1st week of Feb).

but lets say at the present situation if you buy a BRAND NEW mining rig (save heavily through getting second specially from quikr, etc)

Anyways I think here in India most efficient miner you can get is

6x R9 370 (15200 each) = 91200
990FXA Mobo (6 GPU compatible) = 15000
RAM 4gb = 1245
processor = 6000
Power Supply = 28500
Accessories = 5-6k

147925 inr investment
hashrate: 16 (could be 17) x 6 = 96

which means 0.000843 a minute (taking between 19-20 hours)

And by the way, ROI for that price is not gonna happen IMO.

[Surya960]

now that ethereum price went up mining might be profitable even if you are located in a zone where the kwh is not so cheap. As the existing calculators didn't have all the features I need, I started to do my own math. Initially using some spreadsheets, gathering data and then putting everything in javascript.

Most of the features I dreamed about are implemented. I'm currently working on calculating ROI, break even period and cumulative return.

[arseaboy]

now that ethereum price went up mining might be profitable even if you are located in a zone where the kwh is not so cheap. As the existing calculators didn't have all the features I need, I started to do my own math. Initially using some spreadsheets, gathering data and then putting everything in javascript.

Most of the features I dreamed about are implemented. I'm currently working on calculating ROI, break even period and cumulative return.

would it be possible sharing that here mate? as we see eth starting to pump back again and as you said it will be possible to earn even in the place where electricity is not that cheap, just wondering maybe you can give us some idea how to do it. thanks in advance mate.

[bitcoinisfurture]

Yeah it will be helpful if you can show calculations and guide many of the people who would like to start mining them

[soyab0007]

is there any etherum cloud mining?
i dont want to end up purchasing hardware

[manav1112]

is there any etherum cloud mining?
i dont want to end up purchasing hardware

I did for a month when it was profitable, by the end of the month I realised that the probability of getting profit for the 2nd month wasnt much so I didnt.

P.S I used AWS for cloud mining because if u use cloud mining companies there is no chance in this entire world you will ever profit.

See all ethereum cloud mining companies here: http://www.cmmonitor.com/ethereum-cloud-mining/

Sab aap ko loot rahe hai.

Profit karna hai kya?

Ye lo

https://www.miningrigrentals.com/rigs/hashimotos

Wait for a time when the rental price is at least below 0.0003/ MH and that should give you the chance to profit when/if the price increases. I recommend you just hold them though, the ones that are mined until they are worth cashing out..

Still I would recommend trading rather than mining....

[btvGainer]

is there any etherum cloud mining?
i dont want to end up purchasing hardware

Here is the list of various cloud mining firms https://www.cryptocompare.com/mining/#/contracts you can compare them here.Be careful while investing as some of them may turn out to be scam later

[soyab0007]

How about direct purchase of ETH?

Is it profitable in future?

[manav1112]

How about direct purchase of ETH?

Is it profitable in future?

Yeah but probably hold in long term, I am expecting you will get quite a good return to just hold until January next year.

[soyab0007]

How about direct purchase of ETH?

Is it profitable in future?

Yeah but probably hold in long term, I am expecting you will get quite a good return to just hold until January next year.

Are you sure, I wont mind holding it for a year?

How much can we expect for next year?

[manav1112]

See I would say you should probably keep it in Bitcoins until around the bitcoin price skyrockets (any time during or after July) and after transfer it into ethereum. You may get a 20-30% at leastincrease itself from bitcoin after the halving of the mining block reward which should cause the price to go up. I would say to then transfer it to Ethereum because it is going to switch into PoS where we should also see at least a 50% price increase.

Right now the Ethereum price anyways isnt a friendly buying price, but IMO if you see it between 9 and 10 dollars then there isn't any harm in going Ethereum early - and if you have free time, Ethereum trading can make you a lot of money if you can understand the trends and be patient.

[bitcoinisfurture]

Also it is possible as expected that after halving prices of bitcoin would soar to an extent. Now this is where Ethereum comes in picture as its priced compared to Bitcoin at that time would be marginal. So shifting may take place at that time provided price rises of bitcoin. Also if price reduce or something that sort than you may never know.

[globalgaurav]

if you have free time, Ethereum trading can make you a lot of money if you can understand the trends and be patient.

[shishirmba]

Can you provide more details about mining rig rentals? How much profit will be there for buying 1MH/S @ 0.0003 BTC/MH ?

is there any etherum cloud mining?
i dont want to end up purchasing hardware

I did for a month when it was profitable, by the end of the month I realised that the probability of getting profit for the 2nd month wasnt much so I didnt.

P.S I used AWS for cloud mining because if u use cloud mining companies there is no chance in this entire world you will ever profit.

See all ethereum cloud mining companies here: http://www.cmmonitor.com/ethereum-cloud-mining/

Sab aap ko loot rahe hai.

Profit karna hai kya?

Ye lo

https://www.miningrigrentals.com/rigs/hashimotos

Wait for a time when the rental price is at least below 0.0003/ MH and that should give you the chance to profit when/if the price increases. I recommend you just hold them though, the ones that are mined until they are worth cashing out..

Still I would recommend trading rather than mining....

[bitcoinperson]

Based on my calculations Ethereum Cloud Mining is not profitable unless you can rent it much more cheaply than I've been able to find anywhere. You're better off just buying ETH on an exchange and holding it.

The Ethereum mining profitability calculators I've seen assume the network hashrate is static, when it's been growing rather rapidly. This means you are sure to OVERESTIMATE the amount of ETH mined.

Right now I wouldn't be willing to pay more than around $14 per MH/s of hashing power for a year. I'm not aware of any cloud miners that offer pricing anywhere close to that.