So, mybroadband released an article yesterday about building an ethereum mining rig:
https://mybroadband.co.za/news/hardware/211904-how-much-it-costs-to-build-a-powerful-ethereum-mining-rig-in-south-africa.html
There's an online calculator for it too: https://etherscan.io/ether-mining-calculator
According to that, with 100MH/s, you could make about $460 per month, dependant on the Ethereum value. So it would be paid off in about 4, maybe 5 months. Unless the value tanks below what it would cost to run.
I saw the rig that Juggy built here: https://www.avforums.co.za/index.php/topic,58919.0.html
My questions are:
1. How do you get that cryptocurrency out? Convert to bitcoin and then put in a sale order?
2. What is the tax implications with regards to it?
Thanks
https://mybroadband.co.za/news/hardware/211904-how-much-it-costs-to-build-a-powerful-ethereum-mining-rig-in-south-africa.html
There's an online calculator for it too: https://etherscan.io/ether-mining-calculator
According to that, with 100MH/s, you could make about $460 per month, dependant on the Ethereum value. So it would be paid off in about 4, maybe 5 months. Unless the value tanks below what it would cost to run.
I saw the rig that Juggy built here: https://www.avforums.co.za/index.php/topic,58919.0.html
My questions are:
1. How do you get that cryptocurrency out? Convert to bitcoin and then put in a sale order?
2. What is the tax implications with regards to it?
Thanks
