Ethereum GPU mining?

[Amused]

So as I am using nicehash, I am assuming it is bitcoin mining then. I am seeing about $22~ a day at my single card mining rate. Would it be better to switch back over to Ethereum instead?

With Nicehash you are renting your GPU cycles.

Most often the miners you are renting to on Nicehash are mining Ethereum as it is the most profitable.

If the algo is daggerhashimoto, that's mining ETH.

Nicehash pays everything in BTC.

 

[HumblePie]

With Nicehash you are renting your GPU cycles.

Most often the miners you are renting to on Nicehash are mining Ethereum as it is the most profitable.

If the algo is daggerhashimoto, that's mining ETH.

Nicehash pays everything in BTC.

Gotcha. Doesn't seem all that profitable to be on NiceHash at $20 a day roughly.

 

[fleshconsumed]

Gotcha. Doesn't seem all that profitable to be on NiceHash at $20 a day roughly.

I get that $20/day is not a lot to many people here and that actual return will vary wildly with the current price of ETH, but at the current rate of return that's $600 a month, or $7200 a year, for essentially doing nothing. That's two 3090's a year even at the current scalper pricing. It'll remain to be seen what happens after EIP 1559 in July, but that's such an easy money right now that why not do it?

 

[HumblePie]

I get that $20/day is not a lot to many people here and that actual return will vary wildly with the current price of ETH, but at the current rate of return that's $600 a month, or $7200 a year, for essentially doing nothing. That's two 3090's a year even at the current scalper pricing. It'll remain to be seen what happens after EIP 1559 in July, but that's such an easy money right now that why not do it?

I was more or less wondering what would be the most profitable route. That amount is only true when I am mining and I am not doing that 24/7. I still like to game or watch videos from time to time. so more like $12 a day it looks like. I've managed to land about four 3090 so far though. Flipped 2 of them for more than I've earned through mining. Got the fourth en route still.

 

[Amused]

I was more or less wondering what would be the most profitable route. That amount is only true when I am mining and I am not doing that 24/7. I still like to game or watch videos from time to time. so more like $12 a day it looks like. I've managed to land about four 3090 so far though. Flipped 2 of them for more than I've earned through mining. Got the fourth en route still.

You can do everything but heavy game while mining. I watch videos all the time with the miner running. Watching a video with HW acceleration on gives a minor hit to your hashrate, that's all.

I turn it off to game. It costs me .50-$1 an hour lost mining to game.

It runs 24/7 otherwise, doing most of the work while I sleep or am out.

My 1800 dollar card now earns it's cost back. In 3-6 months. Can't beat that.

Just cool your 3090's well. I put 2 3000 RPM fans on the backplate pulling air away. Pulled the mem temps down from 105c to 90c and I can maintain 120+MH/s.

Mem OCed by 1000 and GPU under clocked to -300. Power set to 72. Using Precision-X.

I've been getting 15-20 dollars a day lately for the cost of about 1 dollar of electricity. (I live on the Beach in CA, the power is expensive here. Most other areas would be half that)

My system would be on all the time anyhow, it doubles as my home/plex server. So I'm really only spending about .75 a day on electricity.

 

[HumblePie]

You can do everything but heavy game while mining. I watch videos all the time with the miner running. Watching a video with HW acceleration on gives a minor hit to your hashrate, that's all.

I turn it off to game. It costs me .50-$1 an hour lost mining to game.

It runs 24/7 otherwise, doing most of the work while I sleep or am out.

My 1800 dollar card now earns it's cost back. In 3-6 months. Can't beat that.

Just cool your 3090's well. I put 2 3000 RPM fans on the backplate pulling air away. Pulled the mem temps down from 105c to 90c and I can maintain 120+MH/s.

Mem OCed by 1000 and GPU under clocked to -300. Power set to 72. Using Precision-X.

I've been getting 15-20 dollars a day lately for the cost of about 1 dollar of electricity. (I live on the Beach in CA, the power is expensive here. Most other areas would be half that)

My system would be on all the time anyhow, it doubles as my home/plex server. So I'm really only spending about .75 a day on electricity.

If I start watching youtube the hash rate drops from 120+ to 80-100. It just bounces around depending. Then again I sometimes watch 2 or 3 videos at 2x speed at once. Makes it easier to absorb info for me. But it is cool it will earn something while I am away. As I said, I have a ton of extra parts that are tempting me to create mining setups with. Really though, I would get something like a 3300 for the low wattage performance and chain some cards in the same system for that. Not sure I want to go down that rabbit hole though. Can also just sell most of those parts as well. Most of them will at least go for what I paid for them and some even more.

 

[Amused]

If I start watching youtube the hash rate drops from 120+ to 80-100. It just bounces around depending. Then again I sometimes watch 2 or 3 videos at 2x speed at once. Makes it easier to absorb info for me. But it is cool it will earn something while I am away. As I said, I have a ton of extra parts that are tempting me to create mining setups with. Really though, I would get something like a 3300 for the low wattage performance and chain some cards in the same system for that. Not sure I want to go down that rabbit hole though. Can also just sell most of those parts as well. Most of them will at least go for what I paid for them and some even more.

Turn off HW acceleration in your browser's settings.

That will stop the Hashrate hit.

 

[maddogmcgee]

Yeah, people on this forum like to complain about the price of GPU's but really they are cheaper they have ever been. Free, or profitable.

 

[HumblePie]

Yeah, people on this forum like to complain about the price of GPU's but really they are cheaper they have ever been. Free, or profitable.

Price no, availability at msrp.... yah.

 

[ElFenix]

The collapse is incoming.

are you a wizard?

 

[IEC]

are you a wizard?

 

[IEC]

To be fair in a long enough timeline you could argue we are closer to the "first sell off", but I suspect given the use cases aren't really to the level Joe Schmoe can easily understand and use yet, a short term capitulation is far more probable.

 

[maddogmcgee]

Its back at just under 40k, be interesting to see what it does this week and if it pushes past.

 

[AdamK47]

I was more or less wondering what would be the most profitable route. That amount is only true when I am mining and I am not doing that 24/7. I still like to game or watch videos from time to time. so more like $12 a day it looks like. I've managed to land about four 3090 so far though. Flipped 2 of them for more than I've earned through mining. Got the fourth en route still.

Scalping and mining. The worst of both worlds.



Threadcrapping is not allowed.


esquared
Anandtech Forum Director

 

[aleader]

Its back at just under 40k, be interesting to see what it does this week and if it pushes past.

I've noticed my per-day estimated earnings on Ethermine have really tanked in the last month or so (around 0.004 atm), sans a brief period where they pushed back up to 0.008 when the prices first dropped. That's around $10.55 USD per day with a 3070 and 1660 super running 24/7 (61.5 & 32.2 MH/s avg) and my son's 3060ti running around 10 hrs per day (61 MH/s).

So, at an average hashrate of 145 MH/s, only $10.55 per day before power costs. Whattomine is still showing $14.15 USD after power costs, so I don't bother using it anymore as I find it's pretty inaccurate.

I'm not sure if this is the start of the crash or what. I've decided to just keep holding to see what happens after EIP 1559/POS takes effect.

 

[VirtualLarry]

I've got around 700MH/sec on NH, making O.K. money. Sure was a fun run through ATHs the last month or two. Hope they come back.

 

[aleader]

I've got around 700MH/sec on NH, making O.K. money. Sure was a fun run through ATHs the last month or two. Hope they come back.

NH is about 10% less profit than just using Trex/PM. It's obviously still profitable, but I was at over $22 per day for a few months with the same hashrate as I have now. Again, none of this matters if you hold on to it, it only matters when you cash out. Hopefully EIP/POS will push the price up. I still think the biggest threat to end the greed-party we're having is government crackdowns like what's happening in China. It will all be worth zero if that happens.

 

[HumblePie]

I've noticed my per-day estimated earnings on Ethermine have really tanked in the last month or so (around 0.004 atm), sans a brief period where they pushed back up to 0.008 when the prices first dropped. That's around $10.55 USD per day with a 3070 and 1660 super running 24/7 (61.5 & 32.2 MH/s avg) and my son's 3060ti running around 10 hrs per day (61 MH/s).

So, at an average hashrate of 145 MH/s, only $10.55 per day before power costs. Whattomine is still showing $14.15 USD after power costs, so I don't bother using it anymore as I find it's pretty inaccurate.

I'm not sure if this is the start of the crash or what. I've decided to just keep holding to see what happens after EIP 1559/POS takes effect.

I noticed the decline as well. I was listed at over $20 a day and now it is half that.

 

[aleader]

I noticed the decline as well. I was listed at over $20 a day and now it is half that.

I guess it's the low gas fees right now which are way down around $2.

 

[aleader]

Got another new EVGA Ultra XC3 3070 if I want it (for $921 CAD, $740 USD w/tax), just have to pick it up. My intuition says though that it doesn't make sense as the Eth profits have dropped so much and EIP 1559 is on the horizon. I could flip it I suppose for $1,600. Thoughts?

 

[VirtualLarry]

Well, the party is going to last until at least the end of 2022, according to recent news from the devs about pushing out PoS another year due at least in part a lack of man-power for development.

And I'm not sure EIP-1559 is going to "hurt" miners all that much compared to what we are earning today, only that we won't likely see crazy ATH mining block rewards in the future.

 

[aleader]

Well, the party is going to last until at least the end of 2022, according to recent news from the devs about pushing out PoS another year due at least in part a lack of man-power for development.

And I'm not sure EIP-1559 is going to "hurt" miners all that much compared to what we are earning today, only that we won't likely see crazy ATH mining block rewards in the future.

I'm already down to about 0.00245 eth/day on Ethermine. Whattomine is still showing 0.0035 estimate, which is just wrong. Quite a drop from 0.01 per day! I just sold the extra 3070...took the easy profit. I figure at this rate it's almost a year to pay it off at what I paid for it ($740 USD), and that's assuming no decrease from EIP 1559. I could make more per day doing my son's flyer route I am curious to see if the next cards I get are LHR. I still have two 3060ti's on backorder. I'm also wondering if the non-LHR cards will hold their value longer.

 

[MrTeal]

Difficulty has been pretty flat for the last month after its meteoric rise, which has helped out quite a bit. Terrible gas prices have kept earnings down, but it's going to be the new normal after the London hardfork anyway.

 

[poofyhairguy]

Really appreciate this thread. Maybe the best forum thread I have ever read. Now thanks to it I have my own Eth validator.

 

[DrMrLordX]

Bleh, I lost my patience with Ethereum some time ago. Still technically a good project with sound ideas, but way behind the curve on execution. Also it's worth more $$$ than it has any business being worth. So is most of the rest of the crypto market. Wish I had more to contribute to the ETH mining scene now but I really don't. If you are still mining ETH by this point, I think you're cracked in the head. PoS is another matter of course . . .

And I say that as an owner of a Radeon VII that is still worth ~$2k thanks in no small part to Ethereum mining (though it's hardly worth that much, given that better miner cards can be had for just as much, if not less).