Is mining still profitable? PLUS video of the mining office

Hey everyone,
I did a little video on the topic “Is mining still profitable?”

Also showing off the mining office.

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Boom.

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Been waiting to see the office tour :slight_smile:
Amazing.

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Very timely post, just setup my 1x 1080 on Nicehash. Them $2/day gains yo! Still learning :slight_smile:

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NICE! You gaming with that 1080 also? I really do like Nicehash. It’s great for gamers who want to put their GPU to work when they aren’t using it.

If there is anything you need help with, please let me know.

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Thats exactly why I upgraded to the 1080, for gaming, before I knew what crypto was even.
There are some crazy big miners on top of the pools. Seems like a huge capital investment to get into it seriously.

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Yes. It’s a HUGE investment to get up there where those guys are. Little by little though

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Mined my first $200 the other night. Its paying itself off.

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We are seeing a boost in profit this week.

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I have my gaming computer with a 1050 ti and 1080 mining Vertcoin for me. Im still pretty new at this would you recommend switching to nice hash or stay with Vertcoin ? Also should i be selling what i make or just hodl ?

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Its hard to say… you could hold vert and just wait to sell when its in the 80k satoshi range or switch to nicehash and get paid in btc and hold. Either way you are going to make bread. I figure btc for myself through NH. Btc is always going up, especially now that big business is entering.

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how often does nice hash pay out ?

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I’m currently setup on external wallet, so its once per week at 0.01 btc minimum.
Too bad that will take a solid month on my 1 gpu :slight_smile:

https://www.nicehash.com/help/when-and-how-do-you-get-paid

Payments schedule for sellers:

Once per day for NiceHash wallet unpaid balances, greater than 0.001 BTC.
Once per day for external wallet unpaid balances, greater than 0.1 BTC.
Once per week for external wallet unpaid balances, greater than 0.01 BTC.

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I agree with @ElectricSheep, it’s really up to you as to whether you mine an altcoin or use Nicehash. My next video with be on comparing the use of mining programs including using Nicehash.

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I’ve kept track of my mining journey. I jotted down the cost of equipment, and the cost of bitcoin at the time. I also factor in the amount of coin I’ve generated minus electricity costs. Though, electricity cost is hard to pinpoint as the GPU heat the house and elevate how often my central air must come on.

My findings are: buying BTC instead of mining equipment is by far the better way to go. Plus, it’s hassle free. Only mine for a hobby that generates a slight income after 10-12 months return on investment.

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I agree. I got into mining originally just to earn enough to pay for my habit of building a new PC every year with the latest and greatest parts. It has quickly turned into a completely different animal now. I have payed off my rigs so now they are just there for accumulation I do not care about the electric so much as that cost has been extremely stable as the coins just seem to keep going up in value. I convert to BTC almost as soon as I get them. More of a DCA method than anything.

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Mining really does turn into a hobby or obsession. For me, I really enjoy putting them together and testing the limits of what I can do. I would love to see how far I can build out one rig.

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I want to expand my op by two more rigs but the heat… plus i live in the deep south. Its fine for winter but when that summer comes around i dont know how to handle the heat from 18 1070s…

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The heat is hard to overcome and can get expensive. You saw in the video that we have a 4 ton AC unit to cool the 66 GPUs we have running. That was a huge investment. For 18 GPUs, you might be able to get by with a portable AC unit. They are about $500. We ran one of those for a while and it was just barely able to keep up with 24 GPUs.

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Yeh it also depends on the size of the room. I had some elaborate plans for a cooling setup but ultimately decided it wasn’t worth the investment.

@ElectricSheep I have a portable AC unit in a spare bedroom and it sits idle most of the time with 12 1060 3gb’s running. Now I do have some spare 120mm on the front of the rig to make sure I am pulling air across the cards. I just did this with some hot glue so that they are removable.

I will get another picture and post it here but this one shows the rig prior to the additional fans being added. They are glued to the top black bar and the lower red bar.

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