Updated: Aug 8, 2021
Where to Start
You've done your research and are ready to get into mining. Here is King's full ROI guide to get started on earning some passive income.
ROI (Return on Investment)
When looking into investments it's always very important to find out your ROI time. This is kind of tricky in the Mining world as profits can vary from day to day or even hour to hour. Before putting a lump sum of money into mining you should check what your estimated ROI time is. You can do so here.
For this article we will use a base setup of 4x RTX 3080's purchased at MSRP from Best Buy.
Current RTX 3080 MSRP: $1,029.99
$1,029.99 * 4 * 1.15 (Taxes) = $4737.95
The rest of the setup can be purchased around $500 - $700 depending on what parts you choose. For this example we will set our overall buy in at $5300 CAD.
Okay, we know what are expected buy in costs are, but what are we earning per day and how long will it take to get our money back? Mining ETH our projected daily income is $29.67 before power costs. After paying for power we are taking home $27.46 as show below.
Okay so we're making $27.46 per day and we paid $5300 CAD total. So with some quick math we can find our estimated ROI Time.
$5,300 / $27,46 = 193.01 Days or 6.5 Months
193 Days Seems like a lot of time to earn your investment back, but when you think about other investments that are only earning you 1-2% per year mining looks a lot better.
Ready to dive into mining? Check out some gear here.
Disclaimer: ROI Time's change all the time. Even though you calculated this it could increase drastically depending on variables, like price, difficulty etc. This was calculated on Aug. 8th 2021 for reference.
Picture From: Simon Byrne's 78 RTX 3080 Mining Rig