Good plan?

[MetaMii]

Does it make sense to sell 40% of your mining rigs and keep the money for direct crypto investment and continue mining with the 60% left? How good or bad is this plan? also, It looks like miners are staying stronger this period, I expect many to have left mining but difficulty still remains very high.

[Metroid]

Selling 40% is a good plan but buying crypto now is not a good plan, sell now and wait for the hehell crash in few months then you buy.

[Coinfarm ventures]

I would sell half of your mining equipment, save the other half in fiat, then either buy coins or buy mining rigs cheaply after PoS. It is usually 20-40% cheaper to mine most coins than to buy them when you consider depreciation & tax advantages.

[OgNasty]

Does it make sense to sell 40% of your mining rigs and keep the money for direct crypto investment and continue mining with the 60% left? How good or bad is this plan? also, It looks like miners are staying stronger this period, I expect many to have left mining but difficulty still remains very high.

A lot of things make sense or don't make sense based on your own personal situation.  Did you buy the rigs using BTC when the price was at $60K?  If so, selling the rigs off for more BTC now would be a smart move.  Are you having problems cooling those rigs during the summer?  Are you forced to sell at low prices to pay for electricity?  Do you have strong conviction in another asset you want to purchase and need to raise funds for it?

There are always so many variables...  Consider everything and do what's best for your own situation.

[FP91G]

Does it make sense to sell 40% of your mining rigs and keep the money for direct crypto investment and continue mining with the 60% left? How good or bad is this plan? also, It looks like miners are staying stronger this period, I expect many to have left mining but difficulty still remains very high.

If you have already paid off your mining farms, then this is probably a good plan if you have expensive electricity and cannot compete with other miners. And if you bought your equipment expensively and have not paid back yet, then know that miners always paid off mining equipment if they continued mining.

[rdluffy]

There are always so many variables...  Consider everything and do what's best for your own situation.

Totally agree, and it's very interesting to see here all the plans to have more ideas

I don't know the situation of OP, but I like the idea of split your investment, never put all eggs in on basket
So, if you sell 40% of your rigs, or even 50% you can split the money to buy coins, and save some to DCA in a few weeks/months
In this way you'll have:

1 - cards to mine in a good market (POW coins)
2 - you'll have coins if prices rises
3 -  and you have cash to continue buying if price falls
4 - If prices of GPU falls, you already sold 50% in a good price

It's a good strategy, not so risk

[adaseb]

In all my experience of mining, I found that many miners who choose to be traders usually end up losing all their mining profits. Miners should just keep on mining and stay away from trading.

I knew too many of them who tried out altcoins trading or leverage trading and they made good profits at first but eventually ended up losing it all during some nasty crash that crypto has time to time.

If you want to hold some coins for years then do that. Don’t do leverage trading.

[FP91G]

Experienced miners don't think about selling or stopping mining when profits are close to zero. I also lost some money on trading and investing in various projects, and mining has always brought me good profits. But there are a lot of miners and the profit is falling.

[Lafu]

In all my experience of mining, I found that many miners who choose to be traders usually end up losing all their mining profits. Miners should just keep on mining and stay away from trading.

Depending on what Coin you are mining , a few years ago there was some shitcoins that would be give you a profit when you trade them early.
Trading should be only done when you need money or BTC at least. Most new Users havnt the patience to hold them for long terms.
But i think we all was going through that stage when we was starting with Crypto.

[adaseb]

In all my experience of mining, I found that many miners who choose to be traders usually end up losing all their mining profits. Miners should just keep on mining and stay away from trading.

Depending on what Coin you are mining , a few years ago there was some shitcoins that would be give you a profit when you trade them early.
Trading should be only done when you need money or BTC at least. Most new Users havnt the patience to hold them for long terms.
But i think we all was going through that stage when we was starting with Crypto.

No I am not talking about mining some low cap coin and selling it. I am talking about miners who mined BTC or some altcoins on Nicehash and earned BTC and then decided to deposit that BTC to Bitmex back in 2017-2018.

So many miners basically ended up losing all the ETH and BTC they mined by trying their hand at leverage trading. Just like many also tried their luck at gambling sites and lost it also.

Basically hold or sell your coin for fiat, don’t try your luck at gambling or trading.

[arielbit]

In all my experience of mining, I found that many miners who choose to be traders usually end up losing all their mining profits. Miners should just keep on mining and stay away from trading.

Depending on what Coin you are mining , a few years ago there was some shitcoins that would be give you a profit when you trade them early.
Trading should be only done when you need money or BTC at least. Most new Users havnt the patience to hold them for long terms.
But i think we all was going through that stage when we was starting with Crypto.

No I am not talking about mining some low cap coin and selling it. I am talking about miners who mined BTC or some altcoins on Nicehash and earned BTC and then decided to deposit that BTC to Bitmex back in 2017-2018.

So many miners basically ended up losing all the ETH and BTC they mined by trying their hand at leverage trading. Just like many also tried their luck at gambling sites and lost it also.

Basically hold or sell your coin for fiat, don’t try your luck at gambling or trading.

scam wick'd, liquidated scam, wash traded LOL


best move is venture out of crypto with surplus money.. 

[mindrust]

Does it make sense to sell 40% of your mining rigs and keep the money for direct crypto investment and continue mining with the 60% left? How good or bad is this plan? also, It looks like miners are staying stronger this period, I expect many to have left mining but difficulty still remains very high.

Depends.

This plan can be different for anybody because everybody has different situations. Depending on your electricity bill, your personal expenses&life standards, your mining hardware (GPU or ASIC?), the country you live in, your warehouse/home, the size of your mining rig... anything can change.

If 40/60 works for you, that's great. Keep doing it but don't expect this to work for everyone else.

[Metroid]

"leverage trading"

That is insane, not even I do that. There are too may traps, yeah if you can control the coin market where you are doing the leverage trading then you profit big if not then you get liquidate very easily, that 50x and even 100x is hilarious ehhe, get rich quick or die ehhe

[swogerino]

In all my experience of mining, I found that many miners who choose to be traders usually end up losing all their mining profits. Miners should just keep on mining and stay away from trading.

I strongly agree with this statement.Once I bought a Rx 5600 Xt from a guy and he didn't know I was a miner since 2015/2016 and started telling me what to do with the money made from mining,he used to mine ETC when everybody else was mining Ethereum,had like 2000 or more coins and told me he sold for profit at 9 USD an ETC when not long after that ETC hit an all time high.This means that trading is never recommended for mining,better keep mining,keep accumulating your preferred coin and when the time comes sell that or some of that for a big profit.The true story of this guy who could have been a millionaire if he waited just a big longer is my main lesson nowadays every time I think of selling coins or selling part of their rigs.

[Coinfarm ventures]

The true story of this guy who could have been a millionaire if he waited just a big longer is my main lesson nowadays every time I think of selling coins or selling part of their rigs.

If I had held half my DOGE from 2013-2014 and sold, I would've ended up with $220k
If I held half my ETH from 2016, I would've ended up with $100k

I finally learned my lesson, bought a portfolio of coins in late 2018 and built a GTX 1060 rig in 2019 for just $140 per card. It was all I could afford after my warehouse went bankrupt. That rig paid for itself 5-6x over and I got a 9x return on my coins.

This time, I will mine with a dozen rigs during this bear market regardless of how bleak the future looks for GPU PoW. I don't care if they make zero profit for 3 years in a row.

[SafuBTC]

The true story of this guy who could have been a millionaire if he waited just a big longer is my main lesson nowadays every time I think of selling coins or selling part of their rigs.

If I had held half my DOGE from 2013-2014 and sold, I would've ended up with $220k
If I held half my ETH from 2016, I would've ended up with $100k

I finally learned my lesson, bought a portfolio of coins in late 2018 and built a GTX 1060 rig in 2019 for just $140 per card. It was all I could afford after my warehouse went bankrupt. That rig paid for itself 5-6x over and I got a 9x return on my coins.

This time, I will mine with a dozen rigs during this bear market regardless of how bleak the future looks for GPU PoW. I don't care if they make zero profit for 3 years in a row.

that sounds like an addiction lol, we all have our regrets didn't we all? we should all start treating crypto coins like a gold.

[FP91G]

The true story of this guy who could have been a millionaire if he waited just a big longer is my main lesson nowadays every time I think of selling coins or selling part of their rigs.

If I had held half my DOGE from 2013-2014 and sold, I would've ended up with $220k
If I held half my ETH from 2016, I would've ended up with $100k

I finally learned my lesson, bought a portfolio of coins in late 2018 and built a GTX 1060 rig in 2019 for just $140 per card. It was all I could afford after my warehouse went bankrupt. That rig paid for itself 5-6x over and I got a 9x return on my coins.

This time, I will mine with a dozen rigs during this bear market regardless of how bleak the future looks for GPU PoW. I don't care if they make zero profit for 3 years in a row.

Then very few people knew about cryptocurrency. In 2015, the Radeon HD 7970 video card brought several Ethereum coins per day, but the coin price was very small. There are a lot of miners now and it is very difficult to earn a similar profit

[swogerino]

The true story of this guy who could have been a millionaire if he waited just a big longer is my main lesson nowadays every time I think of selling coins or selling part of their rigs.

If I had held half my DOGE from 2013-2014 and sold, I would've ended up with $220k
If I held half my ETH from 2016, I would've ended up with $100k

I finally learned my lesson, bought a portfolio of coins in late 2018 and built a GTX 1060 rig in 2019 for just $140 per card. It was all I could afford after my warehouse went bankrupt. That rig paid for itself 5-6x over and I got a 9x return on my coins.

This time, I will mine with a dozen rigs during this bear market regardless of how bleak the future looks for GPU PoW. I don't care if they make zero profit for 3 years in a row.

This is the same I will do,I will expand my rigs soon enough no matter if Ethereum goes PoS or not,I see in my country the prices of the Rtx 3000 series dropping like crazy,a RTX 3060 for 399 Eur is a good price right now but I will wait a bit longer if I can get it at 250 Eur and with just 2000 Eur I will buy 8 such cards to build a rig with those,it will be near 400 Mhsh now that 100% LHR unlock is possible.I don't think I can find any cheaper card than 250 Eur at 49 Mhsh.

[Coinfarm ventures]

This is the same I will do,I will expand my rigs soon enough no matter if Ethereum goes PoS or not,I see in my country the prices of the Rtx 3000 series dropping like crazy,a RTX 3060 for 399 Eur is a good price right now but I will wait a bit longer if I can get it at 250 Eur and with just 2000 Eur I will buy 8 such cards to build a rig with those,it will be near 400 Mhsh now that 100% LHR unlock is possible.I don't think I can find any cheaper card than 250 Eur at 49 Mhsh.

I think prices for RTX 3060 cards can go as low as $180. The cheaper video cards become, the more I will buy. I should have enough power+cooling in a medium-size house to run 200 or so RTX 3060's. Power will only cost 8¢ after tax now!

[devil2man]

It is a good idea to diversify your investments also because i believe the price of the gpu will fall shortly i would sell half of the rigs but investing in crypto is a big risk you have to be very careful the market is unstable