Monero mining – worth it or not?

Results were updated today – I’ve added the holdings value to better keep track of asset development. Slight investment increase, with a total of just over $2k and a bump to projected yearly profit, which stands at around $3.7k now.

I’ve also invested in mining Monero. While the contract’s average break-even point is not as good as with Ether (10 months vs. 4.5 months), there are two reasons to justify this:

  • More spread -> “not having all of your eggs in the same basket”
  • Price increase. Monero’s coin price is still low, and while nothing is guaranteed, its 2nd tier coin position seems fairly stable

If you are (or will be) mining with Genesis, it might be worth it to spread your hashpower investment between Monero and Ether – with emphasis on the latter. For those interested in buying directly instead of mining, check out this article by CoinDesk.

Along with mining, I will include some hold-and-sell activity in the project to add variation. More on this later.

USEFUL LINKS

Genesis Mining

Official Monero website

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s