Heigh Ho, Heigh Ho it’s Off to Hash we Go

For the last week I’ve been using my laptop to mine Ravencoin (RVN). I know it isn’t making tons of money, but I’ve been able to do it while at home, work, and on the road, all in the background. And still have a useable computer.

Laptop: Lenovo Y540 (2019)
GPU: GTX 1650 (stock)

Average Hashrate: ~11MH/s
Average Daily Reward: 4.1 RVN
7 Day Reward: RVN
Price of RVN (at publish): $0.1253

Case Study Assumptions
RVN price: $0.12
Daily Energy Cost: $0.13
Daily Reward: 4.5 RVN

I would probably have averaged closer to 4.5 or 5 RVN per day, if I was running 24/7, but I had downtime when I was drawing lighting rigs for work and needed my GPU to do other work, commuting, or just had no access to Wi-Fi or data. Luckily, because I was able to use power from hotels, generators, or venues, I had even lower overhead than I would with just running this laptop 24/7 at home. It probably doesn’t amount to much seeing as if I was at home mining 24/7 I’d have a daily cost of between $0.10 and $0.18 with a rough daily revenue of $0.54, netting $0.36/day in profit.

$0.36/day doesn’t sound like a lot but for a laptop that is at the very least sitting idle or being used heavily, with these numbers, could see about $131.40 over the course of a year. Which when you think about it is almost 2 months worth of my electric bill. And if I hold the coins to the end of the year and things wildly go up or down, it could be an entirely different story. With the laptop being around $900 brand new, the yearly cost would be $47.45, and making $131.40, my rate of return would be 8.818%. An almost 9% return on something that before sat around and technically was a drag on my electric bill.

I’ve started doing research into building a mining rig, which is purpose built to mine and mine only, not be my work and entertainment rig. Looking at some of those calculations, I could make anywhere from $3 (1 GPU) to $32 (8 GPU) per day in profit. Which could fully fund a Roth IRA or HSA, or could pay itself off in 8-11 months at current coin prices.

Disclaimer: All of these figures are either what I was able to mine or uses current pricing and rates for projections. Past results are not indicative of future results. Your results may vary depending on hardware, pool choice, and cryptocurrency. None of the information here should be seen or used as advice or instruction.

Published by personalfixerupper

An Entertainment Tech's journey to financial freedom, less gut, and inner happiness

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