11 September, 2022 seen 1,525Deribit is my latest discovery from the crazy crypto world. It all started with simple buy-and-hold operations back in…
It has been a while since my latest updates with my Ethereum GPU mining rig. In fact, Q1 2018 has been pretty dull for crypto investors, including miners.
Long story short - at the end of 2017 I decided to build a small Ethereum GPU mining rig, now in the middle of April 2018, in total, I have invested in this mining rig $1,661, though the total ROI has been just 11.63%.
In the past 4 months, I have mined humble 0.32 ETH, with today's ETH/USD ($515.83) exchange rates that would give USD 165.
I decided to make a quick math and find out what should be ETH price to break even my investment in this mining rig, if I would decide not to mine anymore (what I'm not planning to do), and found out that to break even now, ethereum should reach $5,153.
Now that is about 10 times more ethereum costs now. Could ethereum hit $5,000? Sure, at least I believe so. Could ethereum hit $5,000 in 2018? The devil knows that. At the end of 2017, I was looking on Ethereum to reach $2,000 by the end of 2018. I don't have a crystal ball and I might be completely wrong.
Historically ethereum all-time high (ATH) has been around $1,400 at the start of January.
Ethereum mining doesn't look attractive to me now (bear in mind I haven't included the price for electricity in these calculations), and right now if there is a thing I'm looking from Ethereum mining, then it's break even and get back the money invested. I will keep mining more coins, so it will ask smaller price for Ethereum to break even.
Currently, I could mine about 0.12 ETH in a month. If I will keep powered this mining rig for the next 30 days in total I will have about 0.44 ETH mined. With 0.44 ETH mined ETH price to break even my investment should be around $3,780. Now, that's huge and makes the possibility to break even more promising to happen (someday)