I have been looking in to mining cryptocurrencies for a long time now.
I first had planned on setting up a GPU right last fall when I was going hard on Ethereum, but decided not to as PoW was switching to PoS soon, (So i thought). I still was smart enough to invest in ETH at the time and have made some really, really great returns since then.
However, I did some rough calculations of my profits, and they would have totaled around 100k that I missed out on. That one took me a while to swallow. lol
I found out about the Bitmain L3+ Antminer a few weeks back and have been looking to acquiring one ever since. I am not gonna lie I don't want to miss out on another great ROI opportunity like with ETH.
The L3+ boasts and impressive 504 MH/s, while consuming only 800 watts. This machine is a beast. Mining scrypt coins, such as LTC which I am very bullish on long term, as well as the ability to mine all other scrypt coins.
I played around with NiceHash and plan on minning with them. As they offer a higher rate of return lending out your mining power to any scrypt coin willing to pay the price. Expecting with current difficulty rate, to be making around $42 dollars a day, $1,260 a month, pulling in a whopping $15,120 a year.
Thats a hell of a lot of mullah, for a $1,600 dollar investment, if you can get it from Bitmain directly. Which is the problem I am having. They just sold out their most recent batch set to deliver in end of October.
In lew of missing this last purchase I have found a cloud mining site called, Cloudsigma, which is a server hosting company that has also begun hosting crypto miners. They are selling the L3+ for a market up rate of $2,200, plus a hosting fee of $100 dollars a month and you recieve all profits the miner generates, and choose where it mines.
I know that I am paying a bit of a premium on the miner, as well as loosing profit by paying the mantainance fee of $100 dollars a month. However, the ease of not having to care or fix the miner if issues arrise if quite the incentive for me personally.
I think I am going to pull the trigger on this one. Not that I like to admit to having FOMO, but I kind of have some FOMO on this one.
Has anyone else used a hosting sites? Or owns or has purchased a L3+?
I know its a bit of a risk, but sometimes you have to risk to get rewards, especially in the market that changes by the daily.
Let me know what you think!
Thanks for reading,
Nick