So it’s been quite a while since I have provided an update on my Helium (HNT) mining so here it is…….
When I first got my miner back in January 2022 setup I was mining low end of my original expectations, bet it was still between $5 – $9 dollars day. After about 2-3 months I mined roughly 10 HNT valued at close to $300 Canadian Dollars (CAD), and it was all downhill from there. I slowly watched the amount of HNT mined going up as the overall CAD value was going down due to the under-lying price of Helium (HNT) and the overall downtrend of Bitcoin. Currently I have close to 23 HNT mined valued roughly at $161 CAD. At this rate my Return on Investment (ROI) is estimated to be around 115 months.
Few things to note of 2022 so far….
- The overall price of altcoins (following) Bitcoin have been in a consistent downtrend for pretty much all of 2022.
- Overall financial markets are down due to inflation and higher-interest rates.
- There are greater global Geo-Political risks raising fears and potential instability in the markets
Understanding this, my original plan was to buy and hold anyways so I’m currently just stacking HNT until the next bull run.
The Helium network has not been performing overly well in 2022 as well and have gone through some significant changes, and even more more to come (HIP70). I have also been trying to improve the performance of my setup through some upgrades. I’ve tested a few different Antenna’s, filters and amps expecting some change, yet this did not make any significant difference to my CAD earnings or HNT mining rewards. These enhancements did comes at a cost of roughly and additional $400 CAD on top of my initial investment.
The only other upgrade I can think of is my internet connection (currently 25mb/down, 10mb/up). I have not really had any significant reason to upgrade this until recently when a competitor was selling GigaBit (1GB/down, 30mb/up) service in my area for the same price as I was paying for the above. This upgraded services is to be connected within the next few days and I’ll be interested to see if there are any improvements to my Helium Mining Rewards.
Stay tuned for an update……
