Reason #1 Because Crypto Is Extremely Profitable
Miners of bitcoin, Ethereum, Monero, Horizen and practically any top 500 coins at any point have seen between dozens to hundreds to thousands of times an increase in the value of their mined coins to date.
Those who were ASIC mining Bitcoin the year before the run up of 2019 have seen an approximated 16x appreciation in the value of mined bitcoins. Those who were ASIC mining Bitcoin the year before the run up of 2017, have seen more than a 26x increase.
Those who were GPU mining Ethereum before the 2017 run up have likely seen an approximate 30x increase in the value of their mined Ethereum to date.
This is the same story with most other cryptocurrencies, as their value closely follows bitcoin.
WHY MINE? CONT.
Reason #2 Because It's a Fun Way to Earn Substantial Passive Income
Mining crypto can be very profitable in the short term and life-changingly profitable in the mid to long term. The average return on investment (ROI) for a typical GPU mining rig or ASIC miner is less than a year, and sometimes closer to 6 months, which is fantastic. The machines pay themselves off rapidly.
The mining machines you purchase can be as easy to manage or as complicated as you would like them to be.
ASIC mining machines are practically plug-and-play after some brief configuration are usually more reliable and much more energy efficient than graphics cards. They are also less fun in my opinion, if you are the sort who likes to build, customize and tinker with various different software configurations and hardware components.
GPU mining rigs are only slightly more complicated by default, and mainly in the initial assembly phase. Some benefits of GPU mining rigs over ASIC miners include access to a wider range of coins to mine, as opposed to ASICs, which typically only mine a single coin to a handful of related coins. There are a wealth of coins out there that claim to be "Asic-Resistent" and that prioritize GPU miners over ASIC miners. Another benefit is resellability; it is much easier to sell in this market a 5 year old graphics card for practically retail price than it is to sell a 1 year old ASIC Bitcoin miner, in my experience.
WHY MINE? CONT.
Reason #3 Because an Unprecedented number of People Believe In Crypto Long-term
Cryptocurrency, despite historically being a volatile asset class, has stood the test of time. What's more is it has become it's own major sector of the tech industry, with more and more technological infrastructure being built upon it.
There are more holders as well as institutional holders of Bitcoin now than there ever were, and there are also less holders selling during price drops.
This maturity in the asset or set of assets (Bitcoin, Ethereum and many others) gives me great confidence as an investor and as a miner.