What should I do now

[TreyARC]

I bought 3 3060s month ago now I think this might be my biggest mistake as a newbie, maybe I should just sell my graphic cards and wait for another green market before embarking on this journey again or what should I do?

[Williamm07]

How much you paying for electricity per KW? Mining depends on your electricity bill this is what every newbie should look into before purchasing any mining equipments, if electricity is almost free there is no reason to stop your rigs from hashing away, mine and HODL

[rdluffy]

Did you do the math before buying GPUs?
Didn't you calculate costs, difficulty, volatility?

How much are you paying for electricity?

It's normal to market go down for some periods of time, but if you're scared, sell your cards and relax.
Cards are holding a good price and you'll probably sell for the same price you pay if you didn't pay exorbitant price

[Ceyflix-Rez]

Your electricity bill holds the answer to your question, secondly do you mind keep mining even if mining isn't that profitable anymore? I've met people who mined at loss by mining in bear market and hold for long term, they made all their losses back with even more profits they could never make in bull market through mining

[FP91G]

I bought 3 3060s month ago now I think this might be my biggest mistake as a newbie, maybe I should just sell my graphic cards and wait for another green market before embarking on this journey again or what should I do?

I think that further the cost of the video card will only fall. Place an ad with a price that is interesting to you in order to understand the demand for video cards in your city. If your electricity is inexpensive, then continue mining and do not sell video cards. If I were you, I would decide now.

[Piskeante]

Just sell them now.

You will be able to recover almost all your money. If you continue mining, probably at a loss, you will get REKT. And if you wait to sell them until ETH goes PoS, you´ll be lucky if you can get them sold for half of what you paid for them

Be smart and sell. If you want, you can use that money to buy the coins you want instead.

[hugeblack]

I bought 3 3060s month ago now I think this might be my biggest mistake as a newbie, maybe I should just sell my graphic cards and wait for another green market before embarking on this journey again or what should I do?

Entering without making accurate calculations will cost you the loss of your entire capital and selling it without thinking of a plan means that you intend to lose that money without returning.


If you prepare a smart plan, you may reduce losses as much as possible, or at least make some profit, but this applies to the following:

 - Electricity cost: What is the cost of electricity in your country and how much can you get?
 - More RTX 3060s: For mining to be profitable, you want about 7, so can you get more or join some friends?
 - Can you sell it at a reasonable price: Selling cost of used parts will be much cheaper than brand-new ones.
 - Mining experience: If you do not have any experience, it is best to sell it.

Finally, mining with these cards varies according to the cost of electricity, but it may give a return between $300 to $700 for seven cards.

[Zotak337]

Why don't you do research first before buying those cards? You should have ask here before buying I hope you will learn from your mistake, now is a wrong time to invest money in graphic cards because your ROI will take years to get back even if you have free electricity it still won't count

[BitKongy]

If anyone told you that bull market will continue in 2022 they are lairs and deceivers, enough is enough what will continue to happen till bears take over is constant recoveries that will look like green market, since getting back ROI takes almost a year in better market what do you think wil happen in bear market? You will end up in frustration, Pal if you aren't ready for this go sell your GPUs now

[FP91G]

I bought 3 3060s month ago now I think this might be my biggest mistake as a newbie, maybe I should just sell my graphic cards and wait for another green market before embarking on this journey again or what should I do?

Entering without making accurate calculations will cost you the loss of your entire capital and selling it without thinking of a plan means that you intend to lose that money without returning.


If you prepare a smart plan, you may reduce losses as much as possible, or at least make some profit, but this applies to the following:

 - Electricity cost: What is the cost of electricity in your country and how much can you get?
 - More RTX 3060s: For mining to be profitable, you want about 7, so can you get more or join some friends?
 - Can you sell it at a reasonable price: Selling cost of used parts will be much cheaper than brand-new ones.
 - Mining experience: If you do not have any experience, it is best to sell it.

Finally, mining with these cards varies according to the cost of electricity, but it may give a return between $300 to $700 for seven cards.

How much mining experience do you need to manage 3 video cards? You need a minimum of knowledge and experience to make a mini mining farm according to a ready-made guide on the Internet. RTX 3060 are cold video cards and they work stably in mining.If the amount of investment is not critical for the personal budget, then it is better to continue mining with low electricity.

[Synerggy]

What's your plan? Do you want to recover your money very quickly or you just want to use these cards to secure a good future? Find the best coins to mine and swap to better reliable coins like BTC or even the top 10 altcoins and get ready for 2025

[mu_enrico]

Your case is similar to mine years ago. I bought several cards, and then the market tanked, the profitability went down. Bye-bye ROI.
But, if you continue to mine, hodl, and taking care of your GPUs, you can sell your coins + used GPUs at msrp in the bull market. You will make a lot of money!
I can't guarantee the bull cycle will repeat tho as no one can predict the future. Also, it's quite a painful experience and if I can go back in time, probably I'll just sold my GPUs and buy coins at the bottom. Not because of the ROI, but maintaining rig for months/years is a hassle.

[adaseb]

Nobody said that mining is risk free. There are some risks. If you can sell for almost what you paid then just get out or sell at a small loss.

If the market drops further there will be other miners selling their GPUs and increasing supply and the price will decrease across the board.

Also like others said, if you got cheap power then you can remain profitable longer than most and you should just stay in however if you are getting worried then get out soon.

[falsealarm_bf1]

Forget the idiots who are waving a finger at you. You have not given us enough information to blame you with being unprepared, uninformed, etc. How did you buy the cards? Can you afford to keep them? Can you afford to keep them mining, pay the cost of electricity out of pocket for the sake of speculative mining? How much risk are you willing to take? If cost is not a factor for the GPUs or electricity, keep mining. Keep an eye out for undervalued currencies, and mine those instead of one that have guaranteed earnings but high difficulty rates. This is the time to be mining for those high reward outcomes. If you don't have the stomach though, yes, sell the cards and buy into a currency instead. You can then come back at a later date when your investment pays back to resume mining.

[FP91G]

https://whattomine.com/gpus/58-nvidia-geforce-rtx-3060?cost=0.25&button=
Even with an electricity cost of 25 cents, these graphics cards will not mine at a loss. I think that people don't invest in mining if they have expensive electricity. I have always advised to continue mining if there is no need for money.