I am thinking about getting into HNT mining, but it seems like $500 a year is about what most people are earning per rig, and since the rig costs $600 it will take more than a year to see a profit. I looked at the Bobcat 300 and according to their website, the shipping time on new orders is close to 6 months. Is it even worth trying to get into this if I won’t even get the hardware for 6 months? I have very little savings and don’t want to waste money. I looked on the map and it looks like there are about 1800 rigs in my area.
$500 yearly is on the low side. Check the network map in your area to see what others are earning based on their location, antenna dbi, and antenna height. The average earner in my area is around $160 per 30 days. Some make $20, some make $400- that’s monthly. The highest earner in my area has hit $565 in past 30 days off a 8dbi antenna mounted at 10 meters. The lowest earner I saw was something like $11. I think if you’re in a good area with the right antenna/placement you should earn a decent amount.
FYI, seeing a return on investment at 12 months is standard in the business world. Hitting that mark by Q3 is very awesome. Take a look at the network map at https://explorer.helium.com/
I would never recommend helium mining to anyone. It has been very disappointing for me and a huge hassle. The thing needs constant attention. It goes offline all the time.
Sounds like you’re not in the most ideal location unfortunately. You could always buy one and set it up at a family member or friend’s house, if they’d be cool with it. My second one I’m going to set up at my in-laws, which is about 10 miles from me.
Helium all depends on your location. You should look at helium maps to see what’s in your area and also you can get an estimate of what you may earn. Do this before making an order and then waiting months for delivery or paying reseller prices to get now and realize your break even is years out…