New to mining, is it profitable?

[HoursOfDarkness]

I want to start mining, but I'm really a noob and I'm interested in risks of it, and how hard is it? I have a RTX 2060 but if I was serious enough about starting to mine I would be able to get Antminer S19 110 th/s.

[minibois]

Use a mining calculator and see if there will be profit for your situation.

Also take the needed precautions to protect your hardware (like ensuring the parts use less power, don't get hot, etc.).

[JamesTheFolf]

48 minutes ago, HoursOfDarkness said:

I want to start mining, but I'm really a noob and I'm interested in risks of it, and how hard is it? I have a RTX 2060 but if I was serious enough about starting to mine I would be able to get Antminer S19 110 th/s.

You'd need access to 220-240V electricity. It also depends greatly on how much your electricity costs.

[iMonstaa]

20 minutes ago, jrhaberland said:

You'd need access to 220-240V electricity. It also depends greatly on how much your electricity costs.

This is the electricity cost over here (we're friends). And yes, because we're in the EU, we've got 220-240V plugs. Cheers!

[JamesTheFolf]

 

Looks like you'd make about 1k a month depending on pool fees.

[tikker]

Hard? Not really. Set up a miner, hit go and you're off to the races. Is it profitable? Currently probably yes. Throw it in a mining calculator and check your power prices to be sure. With the 2060 you'd be most likeley be mining ETH while the Antminer will be doing BTC.

 

Personally I'd be a bit hesitant about pouring a lot of money in mining equipment at this point. A quick google seems to imply the Antminer S19 Pro for your 110 TH/s is around 10k here currently, electricity will cost you 2700 so at the current market and assuming @jrhaberland's estimate holds true, that would mean at least 13 months of mining before you have your initial investment back and will start making profit. Market is going up at the moment, but we are already some way in and there's no guarantee it will keep doing so over the rest of the year. Are you able to be down 13k with no guarantees of getting it back?

[HoursOfDarkness]

Alright, I'm interested firstly in starting to mine overnight with my gaming PC, but I'm still a beginner. Could you give me a guide on all the software and how to set up stuff?

[tikker]

16 hours ago, HoursOfDarkness said:

Alright, I'm interested firstly in starting to mine overnight with my gaming PC, but I'm still a beginner. Could you give me a guide on all the software and how to set up stuff?

There's a bunch of them here: