With Ethereum Merge on the horizon as on the date of writing of this article, Many people in the GPU mining and overall crypto mining space in general, are sceptical about GPU mining. This is fear is Genuine because most of the GPU mining profits are derived from Ethereum, other predominant Altcoins which are in the GPU-mining game are Flux (FLUX), Ergo (ERG), Ethereum Classic (ETC), Ravencoin (RVN). Some ASIC based coins like Doge Coin (DOGE), Kadena (KDA) are also becoming popular for their less reliance on Electricity to produce decent profit per month. In this blog we will compare FLUX and ERG for investment and mining. This blog is a continuation of our previous blog would suggest reading it you have missed it by any chance. We will be talking about ASIC mined Alt coins in our next blog.
Let’s consider the same example of Model 0 Pro, which costs $7500 including GST in India and $6300 for clients outside India. Price of Ergo (ERG) is trading around $ 2.55, as of the date of writing of this article. if we Invest $7500 into ERG we would be getting 2940 ERG tokens, for export clients this would be amounting to 2470 ERG. Model 0 Pro produces around 1 GH/s for ERG according to the Block-reward, transaction fee & network difficulty of 10 June 2022, it would be earning 3 ERG per day. Also for simplicity in calculation we are assuming that the above mentioned variables remain constant throughout the period we are going to mine.
|6 months Yield||2940 ERG||182.5 ERG|
|6 months cost||0||$ 190|
|12 months yield||2940 ERG||1100 ERG|
|12 months cost||0||$ 1,140|
|24 months yield||2940 ERG||2200 ERG|
|24 months cost||0||$ 2,275|
|36 months yield||2940 ERG||3285 ERG|
|36 months cost||0||$ 3,400|
If we analyse the above table, we can observe that in the case of ERG too, we are outperforming Investing in the long term. ERG’s ATH (All-Time-High) is around $30, ERGO is fundamentally good project which is trying to be a viable alternative to Ethereum in DApps and smart contract space. Recently Ergo developers have been building a bridge to connect with DApps on Cardano eco-system. For ERG to reach it’s ATH it has to grow by 11.7 X, as mentioned in previous articles projects with good fundamentals tend to maintain a Long-term up-trend and break their previous ATH, in their consequent bull-markets.
The final decision on whether we want to proceed with mining or investing is your decision. Some can take all the hassle for extra gains while few might be happy with their returns on their investments. Team NABTech provides the users will the power of passive income through our mining services. We take care of all the hassle of hosting through our cloud services. Our machines are on discount Model 0 Pro & Model 1 are running on discount, compared to our competitors this is because of pre-order service where our clients receive their respective shipments between 45 days to 60 days. Happy Mining !!!