Mining for beginners Season #1, Episode 4. HOW TO CALCULATE ROI !! GPU Rig
With the current drop in price of all the coins, now its most important to calculate Return on Investment(Roi) Correctly on a GPU rig, This is what we will be covering in this Episode.
If you go to whattomine.com and enter your hashrate for a specific algorithm, your cost of power, and the power usage, it will tell you how much money you can make in a day. if you multiply that by 30 days you will get the amount of money you can make from a certain machine in a month. Now lets try it. For this example we will use ethash because its currently one of the best paying ones. Ethash is the algorithm used for Ethereum, Ethereum classic,
Now we will see the results underneath.
After looking at this you have a very good approximate of how much money you will make per day. $ 6.66 per day on Ethereum. (bad luck number too lol ), this is after electricity cost, assuming your cost per kw/h was .12 cents. ok now lets multiply that my 30 days and we get 199 Dollars a month.
Now that we know how much we will make lets see how much the cost of this rig will be. Adding all the parts this rig will cost about $3000 with 6 gpus(RX580's) on newegg.com. $2400 for the parts and add about $600 more for memory, motherboard, hdd, case, risers, etc etc.
Now lets divide $3000 by $199.
That Come up to be 15 months. that's how long it will take you for this machine to pay itself under this market prices.
My conclusion. Now is not a good time to buy a mining rig. The coins are too low. Difficulty is too high , and parts are too expensive. I hope this helped.
Thanks for watching. More to come soon !