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Mining Doge directly: Costs and expectations?
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Okay so I've been involved with Doge off and on for years, and usually, when I look at the costs associated with mining versus just simply buying Dogecoin from an exchange, the obvious choice has always been buying (even so, I used to run a tiny little ASIC miner, but that's long gone now). Fast forward to today, the price has shot up, and the hashrate hasn't changed much, so it looks like that math turned a corner. But, I can't tell, since I've only done minor (haha) mining. So here's my question.

Here's a rig design: https://www.coinminingrigs.com/how-to-build-a-6-gpu-mining-rig/ Pricing this out, it looks to be about US$1800 in parts and one GPU (with room for expansion to 6 total, at about $900 per extra GPU). What's the expectation of getting to even with something like this, assuming the Dogecoin exchange to USD hangs around $0.25 or so? Is there a handy calculator for figuring this out that still works?

Also, I'm not interested in mining other coins and trading for Doge. I want to actually participate in the network, even if it's not 100% efficient. I just don't want to take a huge bath on the mining costs.

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3 years ago