Bitcoin / ETH Cryptocurrency Mining

[Ing]

I open a thread for mining cryptos.
To get help, ideas, discussion.
I hope thats ok.


I put that thread into Speedway. Because in the forum are many delightful heads with ideas, which maybe are shared here, but not to all Google world.



Actually we have a small mining set/rig with 12 CPU now mining ETH.
CPUs are qu expensive now dur to the crypto hype.
We decided to get into Chia 2 weeks ago. But now
We canceled Chia mining . Due to the fact that wage will be near zero, when you haven’t starten 2 months ago.
Has someone other expectations and when yes, why.

Now we are waiting , what the CPU market is doing. For recovery of source ways.
And for ideas what kind of mining is possible

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Ing]

I don’t know much, I tell some things.

Our Rig: 10 CPUs rtx 3070 and 3080. Make about 0,9 ETH a month. Will be 0,5 soon.

UVP of a rtx 3080 is about 700. €. Real is about 2000 now regarding the crypto hype.

Mining ETH is proof of work.

Staking is a total different thing.

PS: I say „our“, but really its my son’s. He s a student For engeneering And stated the journey some months ago. As the CPUs are expensive now, building more isn’t rewarding at present.

 

[alexkuzmov]

I don’t know much, I tell some things.

Our Rig: 10 CPUs rtx 3070 and 3080. Make about 0,9 ETH a month. Will be 0,5 soon.

UVP of a rtx 3080 is about 700. €. Real is about 2000 now regarding the crypto hype.

Mining ETH is proof of work.

Staking is a total different thing.

PS: I say „our“, but really its my son’s. He s a student For engeneering And stated the journey some months ago. As the CPUs are expensive now, building more isn’t rewarding at present.

What is the current ROI? How many months before you break even at lets say 1500$ per ETH?
Are you looking into other mineable tokens? For example Monero.

 

[Ing]

What is the current ROI? How many months before you break even at lets say 1500$ per ETH?
Are you looking into other mineable tokens? For example Monero.

well, thats no exact number in EURO or USD. like all the Crypto think is no exact number.
Rewards for doing the work(proof of work) change, prices for hardware change.
The most popular CPU now is Nvidia RTX3080. It was 700 in Jan, now it’s about 2,2k €.

Ours:
in:
about: hardware 12k, electricity 200/month, month

Out:now about 0.9 eth
So after 2 months its about 5k -(2x200)=4,4k payed.
Next month rev will drop to 2/3,
than: 5eth /year.electricity:2400€. Calculate!

I think, one rtx3080 can make 0,5 eth a year from July on.
We ll not sell now, but wait for the next bull.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[alexkuzmov]

We ll not sell now, but wait for the next bull.

We all are , this one finished.

 

[Sethamus]

If you have the funds to pay for the expenses I think I would hold them long term.
Unless we see a huge spike again in price that might be considered short term then I would potentially sell only with the plan to buy more ETH when the price comes back down. Sell 1 at $3500, buy 2 at $1750 (prices are made up, not sure what we can hit short term).

 

[Ing]

Due to the lower interest in cryptos the GPUs are cheaper now. My son has built up the equipment.
Its planned, that the costs are about covered, when ETH ends to be mined.
He than has the mining equipment paid.
There are some other cryptos to mine, but currently ETH is th most profitable one.
I m a bit proud of his entrepreneural engagement!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GPM]

Keep in mine that Eth payments are going to drop by like 40% on something like August 4th.

If he has any older cards it might already be more profitable to mine Raven or Firo or something on them. Same goes for 3060 cards (unless he has messed around with those ways to get them to go full speed using Windows). 3070/80/90 cards are still the most profitable on Ethereum for now.