Is Ethereum mining still profitable?

[FunkyRanky]

So guys, whats your opinion on this topic? Too late or not?

 

[jeffro89]

It was to late a few years ago when i bought two AMD 280x's, it was also late last year when i bought 5 amd rx480's. So you will always be late, but it all depends on whether your can get access to free or super super super super dirt cheap electricty. 2KW and upwards, 5 GPUS will not make you profit even after 1 year, unless the ETH prize HITS 10K. Hope this helps bro.

 

[ayrtonfranco1]

following this thread

 

[Big SEO]

I need an answer too.

 

[Nilk]

As long as your electricity is not dirty cheap, mining is not profitable anymore. Just buy some coin instead
There's nice mining calculator on cryptocompare

 

[Deleted member 969102]

Yes, it’s incredibly profitable.

All those lucky people making $3k/month a few months ago who Hodld and actually made $25k/month.

 

[Nilk]

Yes, it’s incredibly profitable.

All those lucky people making $3k/month a few months ago who Hodld and actually made $25k/month.

Tell me how many GTX 1080TI I need to make $3k/month and why over 30
It's still better to just buy ETH instead of spending thousands on mining equipment

 

[kittykut]

The real investment is holding the ethereum you mine until its profitable to sell. Takes time and is risky

 

[Deleted member 969102]

Tell me how many GTX 1080TI I need to make $3k/month and why over 30
It's still better to just buy ETH instead of spending thousands on mining equipment

Sure, buying coins is a better investment in hindsight, but that's not the point. Yes, mining is profitable. Not unprofitable like you said. It's also 100% passive.

After electricity (At my rate) You would need ~18 TIs for $3k/ month completely passive, assuming the price does not go up, in which case, it would be more.

Take XVG for example, I was mining 3k/day/rig... it peaked at $0.22 each.

 

[casperl]

Sure, buying coins is a better investment in hindsight, but that's not the point. Yes, mining is profitable. Not unprofitable like you said. It's also 100% passive.

After electricity (At my rate) You would need ~18 TIs for $3k/ month completely passive, assuming the price does not go up, in which case, it would be more.

Take XVG for example, I was mining 3k/day/rig... it peaked at $0.22 each.

What should I expect to mine XVG coins daily with an average PC/laptop with relatively old GPUs or no GPUs? I have a few of them and I can use free electricity. I would like to use those idle PCs/laptops.
I am new to mining. Are you connecting those TIs to one PC (externally)?

 

[Deleted member 969102]

What should I expect to mine XVG coins daily with an average PC/laptop with relatively old GPUs or no GPUs? I have a few of them and I can use free electricity. I would like to use those idle PCs/laptops.

I can't answer that without knowing what hardware it is, but I would expect very little.

I am new to mining. Are you connecting those TIs to one PC (externally)?

I have a thread about that here: https://www.blackhatworld.com/seo/guide-cryptocurrency-mining-for-noobs.995123/

 

[LostKing]

You have to go to Russia then

 

[casperl]

I can't answer that without knowing what hardware it is, but I would expect very little.

Let me give an example. This is the most powerful configuration that I can use (but it is ~5 years old): AMD 8350 4.00 Ghz + 32 GB RAM + GeForce GT 430. Could you give an estimate for this?

I have a thread about that here: https://www.blackhatworld.com/seo/guide-cryptocurrency-mining-for-noobs.995123/

I will check this. Thanks.

 

[Deleted member 969102]

Let me give an example. This is the most powerful configuration that I can use (but it is ~5 years old): AMD 8350 4.00 Ghz + 32 GB RAM + GeForce GT 430. Could you give an estimate for this?



I will check this. Thanks.

It's mainly the GPU that matters, which in this case is is not very powerful.

There are plenty of better ways to monetize a system with 32GB's ram though. Have a think about segmenting it into a number of virtual systems and renting those out: https://www.blackhatworld.com/seo/why-vps-services-are-not-the-best-option-long-term.896552/

 

[Luke_7ucas]

I started building a rig in late December 17.
ATM have 4x rx 580 8GB will be adding 3 more.
(At first wanted 13 GPU rig, glad I sent the 13 mobo back and went for 7.)

Is it profitable... it is definitely fun building a rig. Quite expensive for just a hobby. Help getting your head around different wallets, and security.
Where I am based I will deduct the cost of the rig, electricity, part of the rent, some other costs in my tax comp making a loss and claiming this loss against other source of income, ... getting a tax refund.

I will advise you NOT to build a rig if you don't have the cash lying around.
Crypto investment brought me quicker and better returns so far.

I think its more about mentality.
While with rig you have tangible asset with crypto investment you forward your hard earned money into some exchange that is "somewhere" out there.

 

[H3fog]

Isn't ethereum moving to proof of stake soon ? ( which would eliminate mining for it)

 

[Deleted member 969102]

Isn't ethereum moving to proof of stake soon ? ( which would eliminate mining for it)

It’s supposedly been going PoS for months...

When it eventually does, there are plenty of other coins that can be mined & they will all likely jump up as people start mining, so it’s a good idea to mine some beforehand.