I Made $3,762 Mining Ethereum

Here’s how I did it.I made $3,762 mining Ethereum.Ethereum is the world’s second largest cryptocurrency by market cap. The largest is Bitcoin. I own some of both but I mine Ethereum at home. In 2020, I built an Ethereum mining rig for less than $1,000. You can read the original port I wrote about that cryptocurrency mining rig here.Since I started mining ETH, I’ve been making about $400 per month. That amount fluctuates wildly as it’s dependent upon the price of Ethereum.I started with less than $1,000 to get the rig up and running in October of 2020. For about $978, I started mining Ethereum with two graphics cards. Soon after, I added two more graphics cards to the rig for roughly $400, putting my total all-in upstart costs to about $1,400.I’m paying my electric costs out of pocket but they’re negligible. Your ongoing costs will vary depending on your utility situation but electric costs can play a bigger role in a larger crypto mining setup.In simple math, I’ve made about $2,362 profit mining Ethereum. I’m currently holding all of the ETH that I’ve mined. I do also have other holdings in Ethereum from when I first invested in it in 2016. I bought ETH at $12/ETH and have taken my original profits and continue to convert Ethereum to Bitcoin at opportune times.The overall goal of my cryptocurrency portfolio is to increase my Bitcoin holdings. Despite mining Ethereum, I am mining to earn a profit and dollar cost average into Bitcoin when it makes sense to do so.I share my crypto portfolio in a weekly email.I also earn interest on the Ethereum that I mine by using BlockFi. While I always recommend holding your Bitcoin in a wallet that gives you full custody through ownership of your private keys, I…