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How profitable is mining anyway

After the Merge and the impossibility of further ETH mining, the question is how profitable was mining in the first place
Specifically with a Rig of 5 Nvidia 3060 after trying all possible mining calculators and taking into account the price of electricity $0.1 per kwh (which I assume is a more or less ok price) it turns out that with all possible coins and pools I am always in the red with earnings.
According to those same calculators, for almost all cards, if you were to break even with profit, the price of electricity should be around $0.05 per kwh.
What is the opinion of others?

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When tuning for max efficiency there’s still some small profit on modern cards on something like kaspa even at 12 cent/kwh. Most profit calcs are more geared toward max hashrate not max efficiency

keaton wrote :
When tuning for max efficiency there’s still some small profit on modern cards on something like kaspa even at 12 cent/kwh. Most profit calcs are more geared toward max hashrate not max efficiency
Yes, but the question is how profitable has mining become at all, because as you say “there’s still some small profit”.
Is that tiny profit worth mining.

On the other side if ETH mining via the pool is disabled, how are new ETH created?

Worth and profit has to been individually compared

Depending of difficulty, due to miners migration from ETH to ETC, FLUX, NEOX, KAS aso … profit has been cut to 3 to 10
Your choice of continuing mining or not.

New ETH are created under the PoS consensus, also rewards are much more numerous than they were with PoW
You reward depends on how many ETH you lend in PoS (node), minimum is 32

Lets say it clear: mining is profitable now, only assuming max efficiency and low power costs(less than 0.1$ per kwh).
If you consider mining at lower diff and selling on a spike, you`ll hawe extra income.

And who has lower costs than $0.1 per kwh?
Nobody in the USA and Europe.
Such a price of electricity may be in Sudan, Zimbabwe, Cuba, Turkey and a good part of the underdeveloped countries of Africa and Asia. In Europe and the USA, the price of electricity is over $0.16 per kwh. Only Russia somewhere around $0.08 per kwh

Lots of ppl has PV in US and EU. im a owner of 14KW instalation. My brother has 27.
Its not a big deal to have 0,08 or even less.
Im using special time payment method, where price for kWh is high at day and evening, but low at night and weekends. I can lower the average price to ~0,08 just by loosing 4h of mining. Than comes PV and 80-100% of using it ot once - its 20-40% of my usege - depending on how long sun shines.
So i may say, i have 0,05$ power price. I`m Eu :smiley:

This is not about, say, professional mining, and according to what you are saying, you belong to that group. We are talking about miners with say a dozen GPUs without PV for whom it is simply not profitable to invest in PV and other systems. Such miners, and I believe there are far more than “professional” ones, if we are talking about the EU, their electricity price is much higher than the one you are talking about and it is rare that their price is below 0.12-0.16 $ per kwh

Than, proffesional miner(you named it), who was not looking at the electricy price, and post merge situation, was just simply stupid. for me EOT.
dozen GPUs are not eqaul to dozen gpuS ,if you know what i mean.
I woulden call myself proffesional, but dozen of gpus will not make you proffesional.

You obviously didn’t get the point of what I meant. First of all, the price of electricity is important to everyone, not just miners who have more than ten or twenty rigs and fifty or one hundred cards. Only for those with two, three or five rigs, it is simply unprofitable to invest in a supply system that would reduce the price of electricity. The whole story here is based on the assumption that we all have farms with hundreds of rigs, which is simply not true.

In Ohio, my summer rates are $0.9304/kw. My winter rates are $0.9394/kw for the first 1000kw and then $0.06205/kw thereafter.

wow so, you only need to use 21 MWh a month (?) to get 10¢ a kWh. That is only 700 kWh a day :thinking: After that you probably still aren’t profitable

In Singapore the electric rate is US 0.14 to 0.22 per KW then nobody is counting the operating cost and rental, I have more than 250 GPU all 3070/3080/3090 and 6800 at this movement we are just cleaning and waiting for some magic to happen. Look like it will take 6 to 15 months and until that time 90% of mining will go bankrupt we all just pray

WOW! That’s a nice big setup. I only have 18 GPUs and I have 8 of them turned off at the moment. I mined 1.5 BTC around 2016-2017 and then sold it for a few hundred dollars. OOOPS! I learned the hardware. Mine and hold, it will go back up.

me sitting here with 2 gpus :frowning: that are off lol

Unfortunately GPUs crypto mining won’t be profitable like it was before with Ethereum. That’s why for almost a year I slowly started to do a transition from PoW to PoS. I keep mining ETC even if I lose money hoping that the total ETC hashrate goes down enough to start making money (I pay 0.10$ kWh) or the ETC price increase but it won’t happen until the global financial markets get better.

My brother is a backend engineer working for a dApp company and it confirmed me that there’s no future for PoW cryptocurrencies because the vast majority of developers and investors go to Ethereum beaconchain (PoS) or other POS blockchains. You have to look at the applications of a crypto network, how many addresses are used on a particular blockchain and for what. Most PoW cryptos almost have no applications except for financial speculations and now PoW is seen as polluting and PoS as green (which is the case), it’s another reason to attract investors of ESG (Environmental, social, and corporate governance) towards PoS like Ethereum blockchain.

Unfortunately, GPUs crypto mining will most probably die slowly. I’m curious to see how Bitcoin will behave in the upcoming years.

I really thought etc would have been flooded, because of the asics. Currently at 3-4x what it was before the merge, so nothing as bad as it can be.

I been looking at the number of transactions each block gets, most coins really don’t have much use. Hard to tell if any will survive, or as you said this is the slow death for mining. Hope not

I have finished Eth as most have
i had swapped to raven … but i cannot make a profit tried many options
so giving it a hoover and cover up till things improve
a sad day
john

Yeah most people are turning off right now :frowning:

So they have to shut down the rigs. It seems that at the price of electricity, all other currencies are unprofitable after Merge. The only question is, so far the ETH mined in the wallets, what is their value in the future considering that ETH before the Merge fell a lot and is currently at the level of approx. $1300, which is a big drop from 8 months of 2021 when it was $4800 . The question is whether to keep the ETH in the wallet or get rid of it?