Is Crypto Mining and DeFi Still a Viable Business in 2024? Potential Risks and Rewards

I am currently discussing with my hosting provider to reduce the capacity of my mining equipment to less than 6,000 kW. I intended to officially register as a business with two employees before submitting tax declarations, which involves certain costs such as 5.5 for electricity and additional taxes under the new law. Now I question whether it's worth pursuing this business avenue at all, especially considering that it might only yield about 60% ROI over three years after breaking even. If the tax authorities decide to intervene, I wonder about the viability of operating a legitimate, fully compliant business in this context. In the decentralized finance (DeFi) space, I’ve seen a monthly profit of around $120 with an initial capital of $2,000 in a staking pool. However, maintaining a long-term strategy is crucial; I need to set appropriate ranges to avoid significant losses due to market volatility, as prices fluctuate relentlessly. Testing Uniswap, I realized that market movements are inevitable regardless of the approach. In contrast, managing mining hardware was simpler—just set it and forget it—without the need for constant adjustments. But it seems that the era of straightforward mining as a reliable income source is ending. The overarching theme here is the shifting landscape of crypto income. Traditional mining is becoming more complex and less predictable, while DeFi investments require careful planning and risk management. The regulatory environment and the inherent volatility of these assets are significant considerations that influence my decision-making process. With the high operational costs and legal uncertainties, I’m contemplating whether the effort is justified or if I should shift focus to more sustainable or less labor-intensive options.