The price of helium has to go up in order for the profitability to stay elevated at the same as the first month. That’s kind of middle-of-the-ground conservative estimates. If you’re not okay with that, that’s where you would say, it’s not worth it. Is it worth it to go through all the hassle, buying the miner, setting it up, dealing with troubleshooting, all that stuff we’re talking about to make an extra $400 bucks a year? That’s based on the average numbers. I think the important takeaway here is what is it worth for you to set all this stuff up? If you’re ROI on this whole project is 10% after putting in your own inputs. Overall though, you would still have an 82% ROI (which again from a traditional standpoint is great). If the price of helium stays the same, you don’t have data charges and electricity stays low (helium uses proof of coverage so it uses maybe a $1-$2 of electricity each month) but your production is going down the profits each month would fall too. So the reasonable assumption is your production would go down around 10% every month going forward. I saw that the amount of online hotspots has increased by around 10%. In order to calculate the reduction in production you may face on a monthly basis, I looked at the past 30 days of miners coming online. The thing is with helium as more miners come online, the profitability of everyone goes down (especially if the price of helium doesn’t go higher). The first month has a projected profit of around $61. Plug your assumptions into an ROI calculation to figure out what’s acceptable.įor this example, we’re going to start with the average earnings of the network and then play with the numbers at the current price of helium, which is around $21. If you’re gonna set up a miner in this area, you can assume that’s around what you would make in HNT/day for an average setup. If you’re wondering how the heck am I supposed to know what my average earnings would be? You just go to the helium explorer, click into the area that you live in, and just see what other helium miners are making.įor example, just picking these random miners in a randomly selected location, this helium miner is making 1.41 HNT (over 30 days) while this other one is making 1.76 HNT (over 30 days). The amount of helium that you’re able to generate in your area will determine whether or not it’s a good potential ROI. The average daily production is a big factor in your profitability. If I look at my own earnings, I’m making around 0.04 helium per day, but the average earnings on the network are around 0.097 helium per day. After taxes, shipping, and taxes it comes out to $526 bucks. Let’s assume that you’re buying a bobcat 300. So I’m gonna use a couple of assumptions to try to help guide you to an answer. If you’re reading this as a brand new person to helium mining you don’t care about my past results, you want to know “is it still worth it”? You’re talking about a pretty much 100% ROI within 12 months. I’m expecting in the next 3-5 months, I’ll break even on my purchase of the miner (which in traditional finance metrics is pretty solid). Now, when I purchased my bobcat 300 miner, I bought the base unit, an ethernet cable, and a new antenna/mount. If you’ve watched my previous youtube videos or read my previous articles, you know, that I’ve made an Excel spreadsheet to help me understand the profitability of helium mining.Īs for my own results since I got started the actual profit coming in after around 8 months has been around $450 in total. In this article, we’re going to take a realistic approach to whether or not it makes sense to get into helium mining. I’m not trying to say no matter what, you should be buying a helium minor, that doesn’t make sense! It depends on a lot of things. So I understand the ebbs and flows, the pros and the cons of helium mining. I’ve been mining helium for around eight months. Is it worth it to still get into helium mining? How is the helium mining profitability?ĪKA – Can I still make a bunch of money?!
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