Buy a mining rig in 2021?

[Wentworthik]

Hi,

I am a newbie in mining and I am considering to buy a Mining rig with 6x rx 580 8gb for around 3000$ and start mine ETH. I am also aware of that ethereum will soon run on POS.

Question is, should I risk and start mining or it is not worth it?

Thanks for your opinions and helps.

[1715213450]

1715213450

[1715213450]

1715213450

[Claudio99]

The POS algorithm will take years to complete, there is enough time to start mining Ethereum and make back your return of investment, I think 3000$ is way too much for 6x 580 gpu, anyways gpu are now increasing in price due to Ethereum profitability

[Claudio99]

Hi,

I am a newbie in mining and I am considering to buy a Mining rig with 6x rx 580 8gb for around 3000$ and start mine ETH. I am also aware of that ethereum will soon run on POS.

Question is, should I risk and start mining or it is not worth it?

Thanks for your opinions and helps.

Mate do you use ebay? You can get those cards at 272$ on ebay right now if you look carefully and at 272$ per gpu that's 1632$ for the 6x GPUs, you still have enough money left right? You can use that for other things after removing money for motherboard and risers

[Wentworthik]

I want to buy a whole complete rig with 6 cards for 3000$. Is now the price ok?

[Gunday_07]

I want to buy a whole complete rig with 6 cards for 3000$. Is now the price ok?

You will safe lot of money if you buy the parts yourself, 3000$ for a complete rig with 6x RX580 8gb VRAM is too high, you should be able to do the math yourself, go to stores online or offline and start pricing every parts you need, to buy motherboard and risers won't cost you much at all, a motherboard can be get at 100$ to 200$ depending on your taste and power supply of 1200watts will cost 250$

[Gunday_07]

Hi,

I am a newbie in mining and I am considering to buy a Mining rig with 6x rx 580 8gb for around 3000$ and start mine ETH. I am also aware of that ethereum will soon run on POS.

Question is, should I risk and start mining or it is not worth it?

Thanks for your opinions and helps.

If you can't configure something or put the parts together yourself then don't bother buying the parts, as a newbie it will be a lot better and safer if you buy a complete rig and start mining with no hassle, I don't want you to end up breaking something or putting something together in a wrong form or way

[JHORN]

I want to buy a whole complete rig with 6 cards for 3000$. Is now the price ok?

You will safe lot of money if you buy the parts yourself, 3000$ for a complete rig with 6x RX580 8gb VRAM is too high, you should be able to do the math yourself, go to stores online or offline and start pricing every parts you need, to buy motherboard and risers won't cost you much at all, a motherboard can be get at 100$ to 200$ depending on your taste and power supply of 1200watts will cost 250$

There are other little things you aren't considering here, I think the 3000$ price is perfect for the mining rig, if OP start buying parts one after the other it's still going to be at 3000$ price point, he will need to buy RAM stick, probably a hard drive or usb pen drive too, how about windows OS? How about CPU? The motherboard will be empty I believe, so CPU is needed too

The 3000$ price tag for a complete 6x RX580 8gb rig is perfect , go for it if you know what's best for you.

[Wentworthik]

I think I am not able to build a rig for myself, thats why I want to buy complete rig and be sure that everything is ok.
I am more wondering and worried about that POS algorithm coming up... :/

[JHORN]

I think I am not able to build a rig for myself, thats why I want to buy complete rig and be sure that everything is ok.
I am more wondering and worried about that POS algorithm coming up... :/

You don't have to worry about the POS algorithm, as you can see Ethereum is still running on POW algorithm presently and it's been said many times that the POS update will take time before it actually become completed, Im sure it will take more than a year for the switch to be completed, be rest assured

[VasilyS]

You have to take into account not only future PoS. There are scheduled difficulty bomb in July 2021 and EIP-1559 cutting fee paid for transaction from reward of the miners. It will significantly decrease miner's revenue.

[hellscreamer]

  wont ROI at your price . But you can get 5x 3060 Ti & ROI

[Ryushin]

You have to take into account not only future PoS. There are scheduled difficulty bomb in July 2021 and EIP-1559 cutting fee from reward of the miners. It will significantly decrease miner's revenue.

Honestly I'm glad that EIP 1559 is happening because this is the only way transaction fee can be affordable, presently I can't sell some of my ERC20 tokens because of high transaction fee, I hope buterin implement this atleast, it does look like the proof of work will be here for a long time, if not why would buterin consider the EIP 1559?

[safar1980]

Hi,

I am a newbie in mining and I am considering to buy a Mining rig with 6x rx 580 8gb for around 3000$ and start mine ETH. I am also aware of that ethereum will soon run on POS.

Question is, should I risk and start mining or it is not worth it?

Thanks for your opinions and helps.

You are crazy?
Search the market for used 570 and 580 video cards with 4GB memory. You can buy them for $ 100-120, or buy a farm from a miner.
For 3000 dollars you buy 20 video cards and you can mine Ethereum Classic or Raven.
You will get more profit.

[maXonja]

Hi,

I am a newbie in mining and I am considering to buy a Mining rig with 6x rx 580 8gb for around 3000$ and start mine ETH. I am also aware of that ethereum will soon run on POS.

Question is, should I risk and start mining or it is not worth it?

Thanks for your opinions and helps.

You are crazy?
Search the market for used 570 and 580 video cards with 4GB memory. You can buy them for $ 100-120, or buy a farm from a miner.
For 3000 dollars you buy 20 video cards and you can mine Ethereum Classic or Raven.
You will get more profit.

And for how long? 1 month?

[batsonxl]

I want to buy a whole complete rig with 6 cards for 3000$. Is now the price ok?

you must be very rich if you gonna pay 3k for 6 rx580.
ok lets say you got your rig and started mining today. 6 580 makes 192mhs speed it is 13$(this profit changes everyday it can go way down) a day right now and whats your electric cost? 0.1$? ok lets say it is FREE at this profit you wil ROI in 7-8 month. what happens if reward decrease? you Roi will be 12-24 month ok then maybe you will decide to sell gpu. as soon as reward less gpu price will be also less, you will sell that rig maybe best price for 1k. you will lose in anyway.
Just wait or look to find cards rtx 3060ti for 450-500$. it is new gpu and will not loose price alot.

[CashbackLover]

Hi,

I am a newbie in mining and I am considering to buy a Mining rig with 6x rx 580 8gb for around 3000$ and start mine ETH. I am also aware of that ethereum will soon run on POS.

Question is, should I risk and start mining or it is not worth it?

Thanks for your opinions and helps.

There are too many risks involved in buy mining rigs right now, at first it was all about when Ethereum will switch to POS completely and now it's all about EIP1559 which will reduce mining profits on Ethereum and the truth can't be denied that Ethereum is the most profitable, it's better to invest than money on coins

[philipma1957]

Hi,

I am a newbie in mining and I am considering to buy a Mining rig with 6x rx 580 8gb for around 3000$ and start mine ETH. I am also aware of that ethereum will soon run on POS.

Question is, should I risk and start mining or it is not worth it?

Thanks for your opinions and helps.

There are too many risks involved in buy mining rigs right now, at first it was all about when Ethereum will switch to POS completely and now it's all about EIP1559 which will reduce mining profits on Ethereum and the truth can't be denied that Ethereum is the most profitable, it's better to invest than money on coins

Don't give this advice. Mining and buying coins should don't be grouped in the same sentence they are simply not the same.

My risk mining can be reduced to next to nothing.

Buying and holding coins always has more risk.


Mining has less returns due to less risk
buy and hold has higher returns due to higher risk.


Lumping them together is a disservice to the potential miner or for that matter to the potential buy and hold investor.

At op. don't over pay for gear if you buy gear. Slow and steady is the way to go.

[JeotQ]

Hi,

I am a newbie in mining and I am considering to buy a Mining rig with 6x rx 580 8gb for around 3000$ and start mine ETH. I am also aware of that ethereum will soon run on POS.

Question is, should I risk and start mining or it is not worth it?

Thanks for your opinions and helps.

You don't have to be a pro to build rigs yourself, you can use youtube video to learn how to put together a mining rig, there are countless videos like that on youtube, my point is you will safe money if you can build the tig yourself, you can also buy used GPUs instead

[soda37]

Better just buy Ethereum today, it's still below ATH of 1500 and lags behind BTC. Must spike to 2000-2500 in a less than month from now or so. I would consider this better investment than overpriced legacy GPUs like Polaris RX 500 series.
P.S. not a financial advice

[Greatdev]

Yes you can buy mining rigs or build one yourself, don't mind those talking about POS algorithm, also the EIP 1559 is still not working yet, this can take longer than expected, the ETH CEO have been talking about the POS algorithm for years and nothing happened