Hello, I would like to share my a Rate of Return calculator that I put together to help me decide what mining rig builds I wanted to pursue. Once I saw the value in this simple spreadsheet, I thought many of you may gain value from it also. I appreciate you taking the time to try it out, and look forward to incorporating your feedback to make a truly valuable analytical tool.
Over the past couple of years I have been able to make a small bit by trading crypto currencies, but I wanted to see how mining could impact my ability to generate additional crypto assets. I will assume that most of you reading this have an understanding of the blockchain world, and if not there are many great places to gain that information. I simply hit a spot where I asked myself, 'self, how can I create a robot worker that can continue to build my crypto portfolio, and that was when I dropped into the crazy world of mining. There are some great teachers out there, delivering valuable content in various mediums. But still, they were teaching the craft of building a rig, not necessarily helping identify which algorithm to pursue, and how that would fit in a particular budget. I checked the forums, I joined FB groups, nearly everywhere I looked the different crypto calculators were what people were using to make decisions.
Calculators, like Whattomine, are a great starting point; they provide an incredible tool for those of us seeking to mine. But what they don't take into consideration is the entire Rate of Return (or Return of Investment, sometimes used interchangeably) that you can expect to make given a specific amount to invest. Using a RoR model helps me see what produces the greatest return on an investment, and as you can see it may not be the highest daily income that produces the greatest overall benefit.
Whether my budget is $3,000 or $8,000, this spreadsheet helped me determine which provides the greatest overall benefit. My first build was a GTX 1070ti and I have been pleased with it. Once I determined that I could be successful, I wanted to add more rigs. Someone in a forum made the connection that mining rigs are like tattoos, that once you get one you can't stop. They were right! Though for my next builds, I wanted them to really start generating some side income, and wanted the greatest bang for the buck. Which led to this spreadsheet. I set out on whattomine, and saw that the greatest daily/monthly income was from the GTX 1080ti GPUs, but the initial cost was high. I grabbed my pen and paper and started adding the numbers up, and it seemed like it would take longer to get to break even with that arrangement. So I threw it into a spreadsheet, and sure enough, at almost all values, the greatest benefit based on the costs of the rigs were for the RX 570 and GTX 1080. So I decided to build both :)
I believe the Instruction tab should be able to guide you through your analysis, but would appreciate feedback in what I can change. Again, thank you for taking the time to try it out. Don't get depressed if your current rig wasn't the best performing (my 1070ti wouldn't have been), prices on GPUs greatly affect overall profitability, but use this to help guide your future builds.
Peace,
Jayce
To access the spreadsheet:
https://www.dropbox.com/s/zy6vlhc0w64gms4/Return%20on%20Investment%20Calculator.xlsx?dl=0
PS This was not my planned first post, I am currently working on a Crypto Regulatory video series to send over to DTube, stay tuned!
