I am thinking about getting a mining rig with a pretty good hashrate. I know the upfront cost tends to be expensive but I would have the luxury of being able to run it in a dorm room and thus not pay any electricity bill while running it. I'm interested to see what this community of cryptogenuises thinks about the idea.
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Consider this: You have two opportunities. Either buy at the current price and make gains instantly as a shortterm invenstment - price should be pumped up in atleast 1 year - or use your money by buying a rig as a longterm invenstment ROI can be quick, but also slow.
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Hey man, some more things to consider:
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I used to do at home mining with a small rig back in 2014 but stopped doing it after a few months because it was not profitable.
You mentioned energy costs, this was the primary reason for me. But DO NOT UNDERESTIMATE the strain mining has on your hardware. I had two GPU's running and one of them died after two months already.
Eventually the price went down and my mined litecoins were suddenly worth only $3. It took over two years for the price to go up, and finally break even or turn a slight profit.
By comparison, if I had simply put the same amount of money I had spent on a mining rig into buying Bitcoin or any other crypto, I would have profited much more.
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