Allen
Hotshot
Joined: Oct 1999
Posts: 8,854
Ohio USA
Quote
7/11/2017 Update – The growing number of miners, lowering Ethereum price and increasing difficulty has lowered the amount of Ethereum that one can mine. We highly suggest looking at other currencies to remain profitable and to get your investment back! If you plan on buying a mining system today you are already way to late it appears and you might be better off using that money to buy the alt coin of your liking..
There is a site that gives pretty thorough information on the profitability of Cryptocurrency mining (including Bitcoin and Etherium). Link below.
For Bitcoin and Etherium, my analysis of the data indicated very low profit for the amount spent in hardware. I got roughly $1 per day per GPU for Etherium and far, far less for Bitcoin.
I figured I must have calculated wrong. Then, in searching, I came upon the quote above which was an update to an earlier article on cryptocurrency mining profitability -- written by an active miner. They were already concerned last November regarding profits.
I'm no expert. So, I'm hesitant saying Bitcoin and Etherium mining no longer seems worth a new investment in equipment. But, maybe it is??? If so, that could help lower GPU prices??
