Ethereum (and other altcoin) mining review after 2 months in 2018

Updated: 16 February, 2018 seen 822

February 16 marks a small 2-month anniversary since I've started to mine Ethereum and others altcoins. In today's article let's take a quick review and try to understand is GPU mining still profitable in 2018?

It all started with a FOMO back in December 2017, after successful second part of the year of investments in crypto, I decided to build a 12-GPU mining rig.

Currently, I've invested $1,661 in this mining rig and after 2 months of operations, the current ROI is 12.53% (not counting in cost for electricity). Meaning that in past two months I've mined coins worth of $208.05.

I have experimented both with different GPU cards and different coins. Here are coins I've mined so far: ETH, SC, ETC, and EXP

Mined coins

Mined coins

Currently, the rig consists of 4 GPU's:

Thanks to the open-minded crypto community I've learned a lot about how to overclock these cards and boost a little bit total income from GPU mining.

By building this GPU mining rig I'm using dollar cost averaging adding new cards time after time (originally I had a plan to add one card per month, but in the past 2 month's I've added 2 cards per month). Each time I add a new graphics card I make a brief recap on mining profitability, see:

Indeed, daily earnings from mining depend on cryptocurrency exchange rates, with current mining speed and exchange rates my mining rig if mining Ethereum would make about $4.35 daily, which is about 20%decrease if compared to the end of January exchange rates.

That's the reason I started to explore options to mine other coins:

During the past 2 months a lot of have happened - after bulls run at the end of 2017, the crypto market tanked at the start of 2018, making it longer to reach a positive ROI for investments in a mining rig. 

It seems Siacoin is no longer profitable for GPU mining starting 2018. See: Is It Profitable Mining Siacoin (SC) in 2018?

Last but not least, the so-called hard/soft forks happens not only for Bitcoin chain, but also for other coins, and currently, there is a planned Callisto airdrop planned for ETC coin. See: How to Prepare for Upcoming Callisto Airdrop (Ethereum Classic)

The Bottom Line

Without doubts, these 2 past months have been a lot of fun, learning, fine tuning and exploring the amazing world of blockchain technologies. On the other hand it is still hard to see a positive ROI for this investment. As they say, probably it's more profitable just buy and hold, instead of building a GPU mining rig in 2018. See: To Mine or Buy Ethereum/Zcash/Monero in 2018


Hi! My name is Reinis Fischer (38), a proud dad and devoted husband. CEO and Founder of Terramatris crypto hedge fund, drone enthusiast, world traveler, photographer, and passionate lover of Georgian cuisine (vegetarian).

An ex-pat living in Georgia since 2011, I trade stocks, take photographs, work out at the gym, and many more. Here I write about travel, finance, and other things that might interest me.