Hey guys,
I would like to share with you, why I sold my mining rig.
I've already stated in my other post, why I think its the worst time to jump into mining (June/July) here:
https://steemit.com/cryptocurrency/@kazen/cryptocurrency-mining-the-worst-time-to-jump-on-the-train-june-july-2017
I would like to share few details what lead me to actually sell my perfectly set-up mining rig.
As I mentioned, I believe June/ July is the worst time to jump on the board of the mining train/hype and spend your hard-earned money on the mining equipment. However, if there is a very bad time to spend your money on equipment, it migt be very well profitable, if you own one and considering to sell it.
I purchased parts for my rig during May, when the prices were still kind of OK for about €1650. I've mined for roughly 2 months, which you can estimate the profit based on my 160MH/s and deduct roughly 20% from this for elektricity cost.
I sold my mining rig for €2850.
Now, you migh say that I should keep the rig, keep mining and I would earn even more then the €1200 difference I've earned on sale.
But my point is very straight forward. I basically paid my investement, earned 2 moths profit (I do not expect to get ETH over €330 any time soon) and I'm currently sitting on the earned money and waiting for Vega to get out.
Considering, that I've sold a single RX 470 (bought for €200) for the price of 1070, I do have 2 moths to wait for the price drop on 1070 as I belive its a superior card if you leave the price point out of the equation.
Why I think 1070 is a better card:
- more MH/s
- no speed degradation with bigger DAG file
- dualmining with no impact on ETH mining MH/s
- power consumpion
- the variety of other tokens you can min
Considering this, it was profitable for me to sell my mining rig given my specific cirumstances.
When I look for mining rigs on ebay, they are going even up to €4000 (6x RX 480), which I think its very high for given cirumstances with price, difficulity.
What do you think guys? Would you buy a mining rig today for €3k?