Should I use 3060 TI LHR for mining in nicehash?

[Legoxi]

Hello guys, I'm a noob here. I was planning to build some entry-mid level gaming rig next year. but, i also want to try make little money on the side. 
According to NiceHash calculator i can earn profit about $90-100 each month with 3060 TI LHR. simple math says that I can have my 3060 TI's cost back in about 10-12 months (the price of 3060 TI here is about $1000-1100).

the question is, is it really do able? can i get my $1000 back in a year?

Ps: this "gaming to be" PC is not going to be my main computer, so i will use it for mining only untill next year, since my job so busy now....

[Naijin]

11 minutes ago, Legoxi said:

Hello guys, I'm a noob here. I was planning to build some entry-mid level gaming rig next year. but, i also want to try make little money on the side. 
According to NiceHash calculator i can earn profit about $90-100 each month with 3060 TI LHR. simple math says that I can have my 3060 TI's cost back in about 10-12 months (the price of 3060 TI here is about $1000-1100).

the question is, is it really do able? can i get my $1000 back in a year?

Ps: this "gaming to be" PC is not going to be my main computer, so i will use it for mining only untill next year, since my job so busy now....

Short answer: yes and no

 

Long answer: it all depends on the price fluctuations of cryptocurrencies.

Ethereum will become proof of stake soon, so you won't be able to mine ethereum anymore, but there are still other coins to mine. If prices are stable and difficulty not changing, you will earn roughly 105 USD every month as profit. But if prices double after 2 months for example, your 210 USD (2x 105USD) will become 420 USD. Opposite is also true, if prices go down 50% in 2 months, it will become 105 USD.

 

You can mine what you want, but generally you'll want to mine the most profitable coin and sell/trade it for a coin you want. Or instantly exchange it for fiat currency to be certain of your profits, but that way you won't be able to profit from prices going up, or secure your earnings if prices go down again.

[SorryBella]

15 minutes ago, Legoxi said:

the question is, is it really do able? can i get my $1000 back in a year?

No. BTC prices fluctuates at all times, so it can be 1000$ in a year, or 1000$ in a month, or 1000$ in more than a year. And this is barring any sort of nicehash bullshittery like sudden wallet wipe, client bricks, etc.

[Moonzy]

You also have to factor in your electricity cost (including idling other components, plus PSU efficiency)

The calculator only includes GPU power consumption, and that's after tuning it to the ideal setup (around 120W for 3060ti)

 

In my opinion, it may not always be profitable forever or even until you earn back your money

But if you can be profitable for half a year, that's still some money back to subsidize your purchase, so I'd say go for it

 

But please, do take good care of the GPU and tune it properly for mining (undervolting and overclocking

 

I personally run my GPU at mining settings in games because I'm too lazy to switch profiles, not like I'm losing much performance anyways

 

Three of the 3060ti I purchased back in December have already mined their worth around April, May at the latest, so they've been doing quite well