Is Crypto Mining Still Profitable?

2019-07-23T16:58:01.000Z Honest Cash

So far, its a yes. I have been mining for almost two months now, I had invested around 18277.37 USD, and so far, my return is 8.49%. My projection is I would be able to recoup my investment in a year time.

Before I show you my worksheet, I have to do a disclaimer; cryptocurrency mining is a high-risk high-reward investment. A lot of people have lost a significant amount of money because they didn't read the small print, and they solely based their investment decision on the reward. Make sure it won't make you mad if you lose a significant part of what you invested. If you are going to use a cloud mining company, make sure to choose a trusted one, as always, I don't give financial or investment advice. I am currently mining it with two cloud mining companies. I want to avoid doing promotions here so if you like, comment below with your email and I will send you the names.

So here's the high-level view of my crypto investment. I have three contracts, with two mining companies, as you can see, I am currently mining Bitcoin and Dash, the LTC was just from my Dash mining contract, you can auto-convert. As of yesterday (22 July), I have recoup 8.49% of my total investment. Because I paid using a debit card, part of my daily output are withheld for 32 days. I only have to earn 50 USD to breakeven within a year, and I am earning around 75 USD on average (3 contracts). 

Mining Dashboard

If you are wondering why it my total income seem low, it was because I started with 55.78 USD contract, and then added 4607.5, another 4607.5, etc. if you sum up the first contract above, it would 16,215.26 USD.

First Contract, Hashpower Bought

My first two contracts have only 2-year duration, note the additional HashPower I bought have different end-dates, so if you calculate my project income, it would be slightly higher. 

Here's a detailed look at my mining output. At the current crypto prices, so far, I can say that it is still profitable. Based on my projection, the only time I will lose is if my output value lose 75% which I don't think will happen anytime soon. So long as it won't happen until I have recoup my investment (within a year), I consider it profitable.

Daily Mining Output

As this is my first crypto investment, I am closely monitoring my daily income in USD and GBP. I am monitoring my last 15 days average, monthly, yearly and total income. As you can see so far I have nothing to worry about as I am well positioned to break even just within a year. As noted above, I just recently bought more HashPower so my previous income were much less.

Daily Income in USD and GBP

I think that's enough for now. If you like to know more, discount code or just be a miner-buddy send me an email. 

Enjoy the summer.