Anyone else over $100 a day?

[SixFootDuo]

Story moved over to my vlog. I added pictures of my mining setup.

 

[sabrewolf732]

A bit envious of you, nice.

 

[auntjemima]

Started mining right after I realized it was stupid that I was waiting inline for 3080's and 3090 only to flip them when I could start mining.

Tried to actually sell a few 3090's on here last year and got banned because of the "social justice warrior" mentality which I do understand I guess. I got un-banned but the trade off was that I lost my ability to post to the For Sale Forums.

I am up to 17 cards. 4 x 3090's, 9 x 3080's and 4 x 3070's. The 3070's are founder editions and run hotter than the other cards. You can only buy one card now per 30 days at Microcenter. I've been adding new cards every 30 days. I still have a 3080 boxed I haven't deployed. My 30 days are up so going to be going down there again and waiting in line for another 3080. I want to stop at 30 cards. I'm 12 away. I make around $5500 a month now mining. I would like to get to 7K a month for as long as possible. I've also paid a few scalpers the $1500+ for a few 3080's. I was also able to get an Alienware R11 with a 3080 for $2200 and pulled the card. I am hoping that throughout the rest of 2021, ETH gets to around $3,000. With 30 cards, I should be at 10K a month.

I'm using "manual" for Nicehash with a custom Afterburner profile. My vram temps are around 88 - 92c

For my cold wallet I am using the Ledger Nano X. What are you guys doing?

The one thing bothering me is I worry a lot about my rig and theft. I've actually had a few nightmares where everything is just gone.

Currently using a coop office with 24 hour security.

Where are some of you guys mining? The ones of you that have 15 - 20 cards? Home?

When is your expected ROI?

 

[sabrewolf732]

I've over paid on several cards. But, I think I've already broken even. Well I know I have. Also, the logic I am using is I am still pretty sure that regardless of what happens, my cards will hold their value for at least the next 18 months. That's taking into account that nVidia said today in fact that they expect card availability to be very limited all of 2021. So, as flawed as my logic may seem, I'm not going to lose any money regardless of what happens. I am also currently trying to trade / swap my 3090's for 3080's and cash. I found out the hard way that 3090's are a terrible investment for mining. Yes, they can all do 125 MH/s but the stress on the cards is right up there to maintain that level. So 24 hour mining at 125 MH/s is not really feasible. Unless your a douche and you don't care who the 3090 ends up going to. Gamers Nexus says vram can maintain 130c without damage to the chip. I think nVidia's GPU safety features for vram kicks in and throttles at 105c. I was using Nicehash's "light" setting but it's unpredictable in that sometimes the temps get ... toasty. For me, manual is the way to go with a custom afterburner profile. I'm currently NOT saving any of my crypto. The only thing I have done is poured money into XRP. I haven't really done the maths yet but I think in Aug or Sept I will be completely 100% ROI + 20K + Card value. If I did a deep dive, I might be off ... a lot. I'm right around $1,500 every 8 or so days. I use the amount of $1500 because that's what I am comfortable paying for new / used 3080's. My logic is that, I don't have to pay for new hardware at this point. I may not be 100% ROI in the true sense of the meaning but, I do not feeling any type of burden, worry or concern. Taxes are something I will have to address. I want to public state now, I do plan on addressing this. I've not talked to an accountant yet. I do have other crypto buddies who have told me to find any loop hole I can. Not sure what that means, re-investment? I plan on calling the IRS and talking to them. They actually have live people that will answer. I can also call and schedule an appointment, I think. If I didn't plan on paying taxes, I sure as hell wouldn't be posting this. I also think, so far with investment, my current tax footprint is not all that concerning.

I read tons of tax articles, such as this. So I am on top of this.

https://www.coindesk.com/making-crypto-mining-tax-breaks

Afaik, you have to pay taxes on it as income since you're mining. I.E you earn $100 in mining and sell immediately it counts as $100 in income. If you earn $100 and then value jumps 100% you would pay taxes on the $100 as income and then capital gains on the rest. If you start a sole proprietorship/LLC you can write off the cost of the cards, electricity, renting office space, some dinners and lunches etc as long as it's related to your business.