Is crypto mining still profitable?

sunil0021

sunil0021

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I'm planning on investing around $100k into gpu crypto mining. I have land, location to create a cold storage but i'am not sure if crypto mining is still profitable and i have 0 knowledge of how the mining thing works so the rough plan is to buy a lot of gpu's , hire a few people to setup all of them and create the required things to start the mining process. i'am looking for some quality suggestions.
 
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sunil0021 said:
I'm planning on investing around $100k into gpu crypto mining. I have land, location to create a cold storage but i'am not sure if crypto mining is still profitable and i have 0 knowledge of how the mining thing works so the rough plan is to buy a lot of gpu's , hire a few people to setup all of them and create the required things to start the mining process. i'am looking for some quality suggestions.
Click to expand...

IF you can get cheap hardware and can lower electricity cost then it is possible to be in profit side after 2-3 months or max 5 months.
Mining will be profitable always if you do it right.
 
Tasker18 said:
IF you can get cheap hardware and can lower electricity cost then it is possible to be in profit side after 2-3 months or max 5 months.
Mining will be profitable always if you do it right.
Click to expand...
The land is 217800 square foot and for electricity my plan is to harness solar power as much as possible, i think electricity is the most expensive requirement out of all the things?
 
Those litle solar mining panels you can set up at our personal living space; I forget the name

Anyone tried it?
 
You can refer to the thread to know about crypto mining still profitable
- https://www.blackhatworld.com/seo/just-spent-10-000-on-a-bitcoin-mining-rig-wish-me-luck.1351780/
 
GNews said:
Those litle solar mining panels you can set up at our personal living space; I forget the name

Anyone tried it?
Click to expand...
let me know the name if you remember, is there a big difference between the normal solar panels and the mining panels ?
 
whattomine.com

don't expect high profits from 100k investment.
 
If you are thinking to set up in India, it can be risky. As government may ban crypto. All investment will be waste.
 
krishnaverma said:
If you are thinking to set up in India, it can be risky. As government may ban crypto. All investment will be waste.
Click to expand...
i don't think it will be this easy to ban since Indians have a $6.6 billion worth investment as of May 2021 though it can be possible.
 
It's worth investing if you just sell enough to cover electricity costs per month, and hold the crypto. It always has been, at least.
 
If you mine proper way you can make huge profit from crypto mining
 
If you're able to optimize solar til you have 0 electricity costs its definitely possible.
 
Don't buy GPUs. Maybe ASICs

Check this: https://whattomine.com/

Keep in mind that you are profitable after you recover the initial investment and electricity. Rewards will not be constant. This month will be different from next month based on network hash.

Overall I recommend staking ETH rather than mining. The world is going PoS instead of the old PoW
 
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