I am in need of your advise about the realistic ROI on my first mining project!

[M1rage_]

Hi! I am M1rage and I'm new on this forum.

I trade stocks for a while now, but in addition to that I would very much like to start a mining project. For fun and of course for some ROI. I'm based in Amsterdam, so electricity is expensive here with €0.23 per kWh.

My current thoughts are to build or buy a mining rig with the goal to break-even after 1 year and ultimately to make a little profit after that. My budget to invest is between €3k - €5k. I have very little knowledge about mining, but some knowledge about gaming rigs. I am learning at the moment and I hope to learn more from your opinions and advice.

Right now I've learnt about the basic elements: ASIC's vs. GPU rigs, the current high price of new GPU's, my high electricity price, the risk of POW changing into POS etc.

I am still open to all kinds of options. But my main question is: Do you think my goal of breaking even in 1 year is realistic at this time? If yes, what would you do if you were in my situation?

I would love to hear your unsalted opinion and/or advises!

[HagssFIN]

If you can't get sub 10 cent per kWh electricity price, I'd say forget it

[Toughit]

My electric rate is $.173 USD

For every $1 of electricity I spend, I get $2.10 back in coin (mining ETH on Nicehash, converting to BTC)

In other words, half of everything i make goes to pay electricity. (and that was calculated 2 months ago when my electric rate was $.155, the rate increased on January 1).

Calculations were made when BTC at 22,000, so a little more profit today.

All equipment is late 2017, so: old 470's, 580's, vegas and 1080ti's.

The machines were turned off for just over 2 years as it was not profitable, and turned back on in March 2020.

[sxemini]

Hi! I am M1rage and I'm new on this forum.

I trade stocks for a while now, but in addition to that I would very much like to start a mining project. For fun and of course for some ROI. I'm based in Amsterdam, so electricity is expensive here with €0.23 per kWh.

My current thoughts are to build or buy a mining rig with the goal to break-even after 1 year and ultimately to make a little profit after that. My budget to invest is between €3k - €5k. I have very little knowledge about mining, but some knowledge about gaming rigs. I am learning at the moment and I hope to learn more from your opinions and advice.

Right now I've learnt about the basic elements: ASIC's vs. GPU rigs, the current high price of new GPU's, my high electricity price, the risk of POW changing into POS etc.

I am still open to all kinds of options. But my main question is: Do you think my goal of breaking even in 1 year is realistic at this time? If yes, what would you do if you were in my situation?

I would love to hear your unsalted opinion and/or advises!

To much electricity price. ETH brings much at the moment, but for how long.

[miner29]

My electric rate is $.173 USD

For every $1 of electricity I spend, I get $2.10 back in coin (mining ETH on Nicehash, converting to BTC)

In other words, half of everything i make goes to pay electricity. (and that was calculated 2 months ago when my electric rate was $.155, the rate increased on January 1).

Calculations were made when BTC at 22,000, so a little more profit today.

All equipment is late 2017, so: old 470's, 580's, vegas and 1080ti's.

The machines were turned off for just over 2 years as it was not profitable, and turned back on in March 2020.

Shame if you had mined those 2 years and sold it all today....at $900+ per eth.  Time is one of the costs of mining many people dont account for.  Start mining today and you will make a little....mine for last couple of years and sell today...make a lot.

[Toughit]

My electric rate is $.173 USD

For every $1 of electricity I spend, I get $2.10 back in coin (mining ETH on Nicehash, converting to BTC)

In other words, half of everything i make goes to pay electricity. (and that was calculated 2 months ago when my electric rate was $.155, the rate increased on January 1).

Calculations were made when BTC at 22,000, so a little more profit today.

All equipment is late 2017, so: old 470's, 580's, vegas and 1080ti's.

The machines were turned off for just over 2 years as it was not profitable, and turned back on in March 2020.

Shame if you had mined those 2 years and sold it all today....at $900+ per eth.  Time is one of the costs of mining many people dont account for.  Start mining today and you will make a little....mine for last couple of years and sell today...make a lot.

The right thing to have done would have been to NOT mined and instead purchased ETH with the amount of money I would have spent on Electricity.  Live and learn.