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RE: Building an Ethereum Mining Rig
ultimately long term buy and hold is the best strategy. Mining is a gamble. Difficulty follows the price as long as price keeps going up so will difficulty.
Disclaimer: I mine at home, cloudmine and hold. Because holding is boring for me.
A good mining strategy if you can get hardware at a reasonable price is 30/30/30.
30% of your mining earnings should be reinvested in hashes to keep up with difficulty. 30% hold long term and 30% cash out to have realized profit.
Good luck.