I was planning to buy more new cards for mining but then when I see some reports like this it destroys the will and now planning to sell my active cards. The good thing is I already got the ROI, bought my cards last year January and the price of cards of those days were fine not like today. Also I already made profits about 1000 dollars, so it should be fair to sell my cards half the price. The only thing that keeps me from mining today is I get almost free electricity, I would like some second opinion if I should continue mining or sell my rigs before it is too late? I know the difficulty in mining is getting worst but at the moment I am still okay and earning for about 200 or more dollars a month.
Kaya-
This thread was intended to be about deciding if purchasing NEW very high priced cards right now is going to make financial sense (for me especially). (I should have written that in the title)
As you can see I have decided to hold off as the numbers do not add up.
Continuing to mine existing cards is a whole different subject.
I still mine 3 RX 580 cards that i bought in 2017. They gross about $4.10 with an electric cost of probably $1.20, so I make less than $1.00 per card. Figure 20%+ for taxes, and probably less than 80 cents per card profit.
BUT, as long on the return rate is high enough (I invest $1.00 of electricity. and get $2.40 profit (or whatever)), it makes sense to continue mining.
The cards are 5 years old and were paid off a long time ago.
I could sell the cards, and gross $1100 (ebay prices, net $950). At this time I'm not sure where I would invest the $950.
Long story short, for right now I am mining the existing cards.
