How to calculate your ROI
How do I breakeven?
To calculate your breakeven point, you need to track your initial investment. Hypothetically, let’s say that’s $2000. Add an estimated $100 monthly electric bill to calculate your expenditure over time.
After 30 days your expenditure would be $2100. Next calculate your daily average profit. To do this put in the total coins mined per day and convert that amount to $ per day. There are some 3rd parties such as NiceHash that even do this for you. For simplicity’s sake, let’s say your average profit is about $14 a day.
If you draw up a chart in excel, you can see that after 150 days you’ll breaking even and making residual income every day. And remember, this is an investment, so the value of your $14 today can go up. This calculation is based on a conservative estimate with fairly high electricity cost. With our help, you could easily be mining more than $14 in a day by building more powerful and optimized rigs.
There are some good resources online where you can see the current profitability of all coins and can estimate the profit per day given on any hash rate.
NiceHash is a great software that allows you to sell your computing power. It’s completely free, and super easy to use. We highly recommend it for beginners just getting into mining. Keep in mind they do charge a minimal processing fee.
Coinwarz is a resourceful site to see current profitability of all coins and it is updated in real-time so that you know the current situation of any coin. You can see information like profit per day, profit ratio and difficulty rate. All of these factors can be used to estimate your break even so they are very helpful in this regard.
Whattomine is comprehensive tool to quickly calculate the profitability based on your hash rate and electricity cost.
If you want to start with amateur mining then head to the gpumining subreddit to start mining with your GPUs. There are a lot of helpful people that can guide you through the steps of mining.
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