A comparison of buying a Miner vice investing cost of the minor

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Avatar for CryptoIra3
1 year ago

 A comparison of buying a Goldshell Mini Doge Pro today and mining for 6 months vice investing cost of minor and electricity costs for 6 months. I was trying to decide about buying the minor today at its reduced cost and HODL the coins until prices went up. I did some simple math ( see below) to estimate my profit. I used F2Pool calculator to estimate DOGE, LTC, and electricity costs. I then did some math on what if I invested the $ into Doge directly. I know there are a lot of assumptions below like cost of electricity and prices of DOGE & LTC in 6 months. I was very surprised by numbers.

 

Goldshell Mini Doge Pro Cost $350

Hashrate 205 MH/S      Power: 220 W      Electricity Costs: $0.12 kW/h

Output Estimates:    Doge: 6.3      LTC: 0.00343

Current Prices – 20 July 2022      Doge: $0.07 LTC: $59.88

Gross Profit: $0.66

Electricity Costs / day: $0.63

Net Profit $0.03 per day

Now if prices rise Doge: $0.36 LTC: $125 in 6 months and HODL all coins mined

Gross $2.70

Net $2.07

180 days * 2.07 = $ 372.60

Overall Net = $372.60 + $350 Miner hardware

 

 

Now if we invest vice buying

Invest $350 into Doge = 350 / 0.07 = 5000

Gain = (5000 * .36) – 350 = $1800 – 350 = $1450

Overall Net = $1450 + $350 initial investment

 

If we also invest electricity cost into coins

Electricity costs = $0.63 / 0.07 = 9

180 days later = 9 * 180 = 1620

Value = 1620 * 0.36 = $583.20

next we subtract Electricity costs for even comparison

Net = $583.20 – (180*.63) = $583.20 - $113.4 = $469.80

 

Overall Net = ($1450 + 469.80) + $350 = $1919.80 + $350 initial Investment

I was shocked at the numbers. Please comment below if you think I am missing something or have made a calculation mistake

 

F2Pool Calcutaor:  https://www.f2pool.com/calculator?miner_id=261197&currency=ltc

Goldshell:  https://www.goldshell.com/product/minidoge-pro/


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Avatar for CryptoIra3
1 year ago

Comments

I think mining is just waste of resources in present day

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1 year ago