When it comes to cryptocurrency mining, timing is everything. As the industry matures, both hardware costs and coin values fluctuate—sometimes dramatically. Recently, popular crypto content creator Rabid Mining published a video (see it here: Antminer L9 3 Months Later – Buy The Coin Or The Miner?) examining the Antminer L9’s three-month performance. The results offer valuable insights into the profitability of actually mining Litecoin and Dogecoin versus simply buying the underlying coins.

The Antminer L9 at a Glance
The Antminer L9 was introduced as one of the most profitable ASIC miners available for Scrypt-based coins. According to Rabid Mining’s experience, when first launched, the L9 could generate well over $80 per day at peak profitability. Naturally, as crypto prices rose, so did demand for high-efficiency mining hardware. Not surprisingly, the L9’s sticker price quickly climbed from around $2,699 at launch to over $5,000 within a few short months.

Early adopters who managed to purchase the L9 at initial pricing already found themselves with an impressive return on investment potential—especially if considering resale value. However, looking strictly at the coins mined, the scenario becomes more nuanced.

Three Months of Mining vs. Buying the Coin
Over roughly 2.5 months of continuous mining, Rabid Mining accrued a sizable stack of crypto:

• Approximately 2.46 LTC
• Roughly 14,835 Bells coin
• Around 14,000 Dogecoin (when factoring in merged mining rewards and subsequent profit strategies)

At current market rates during the video’s production, the total value of these coins sat around $6,470. Considering the initial hardware cost of $2,699, that’s already more than 50% ROI in under three months, which is notably strong.

But what if you had just bought the coin instead of investing in the miner and electricity? Early on, Dogecoin hovered around $0.10 per coin. With $2,699, you could have purchased over 123,000 DOGE. As of the video’s publication, that would now be worth significantly more than the mined amount—tens of thousands of dollars, in fact. By pure math, simply buying Dogecoin instead of purchasing and operating the Antminer L9 would have yielded a higher profit over the same timeframe.

Long-Term Considerations
Mining isn’t just a snapshot in time; it’s often about longevity and strategy. Hardware like the Antminer L9 provides ongoing exposure to the market, accumulating coins as time goes on. Even if you miss a big initial price surge by not just buying the coin directly, a miner allows you to continually stack crypto day after day. During bear markets, when prices are low, efficient mining rigs let you accumulate larger volumes of coins at reduced cost. When the next bull run comes—often years down the line—you’ll be holding a hefty bag of crypto purchased effectively at wholesale rates via your miner’s hash power.

Rabid Mining’s long-term projection is that, while the immediate three-month snapshot favors buying the coin outright, over the course of multiple market cycles, continuous mining with a high-efficiency machine like the Antminer L9 could result in a tremendous accumulation of coins. If and when Dogecoin surges to $1 or more, that steady trickle of mined coins may transform into substantial profits.

The Miner’s Hobby Factor
There’s another aspect: personal preference and hobby value. Some enthusiasts prefer to actively participate in securing the network and engaging with the technology. For many, mining isn’t just about profits; it’s a hobby that can potentially pay off. As Rabid Mining notes, traditional hobbies often cost money without any return. Mining, on the other hand, has at least the potential to yield financial benefits over time.

Conclusion
The data from Rabid Mining’s three-month journey with the Antminer L9 reveals a key lesson: the best approach depends on your goals. If your aim is to maximize short-term gains, buying the coin when prices are low often beats the initial mining returns. But if you’re in it for the long haul—willing to ride out market cycles, enjoy the mining process, and accumulate crypto continuously—an efficient, powerful ASIC miner like the Antminer L9 can serve as a gateway to substantial long-term rewards.

With the crypto landscape constantly shifting, staying informed is crucial. By analyzing real-world mining data and considering personal investment horizons, you can determine whether the Antminer L9—or any ASIC miner—is the right choice for your crypto strategy.