Anyone mining Ethereum from home?

Discussion in 'Crypto Assets' started by Ed48, Jun 25, 2021.

  1. Versus what... cost of some hardware?
     
    #31     Jun 26, 2021
  2. terr

    terr

    https://futuredly.com/how-many-watts-nvidia-rtx-3060-rtx-3060-ti/

    The RTX 3060 at its peak consumes around ~170 Watts.
    The RTX 3060 Ti at its peak consumes around ~200 Watts.

    Those are the numbers I was using.
     
    #32     Jun 26, 2021
    johnarb likes this.
  3. johnarb

    johnarb

    A Watt meter was useful to me when I was mining with Antminer S1's in 2014 and other altcoins including LTC using gpu's on a caseless motherboard (using a plastic box)

    I plugged everything to a good power strip and plugged to one of these

    Gotta be careful living in a 1-bedroom apartment not to trip the circuit breaker on a 15A circuit. Amazingly, I only remember tripping it once or twice, perhaps we did not vacuum much, lol

    I think the max value I saw on the watt meter was 1300 W

    Watt meter on Amazon
     
    #33     Jun 26, 2021
    Trader Curt likes this.
  4. jharmon

    jharmon

    Those figures are in gaming.

    Miners (who underclock certain components) get better Watts as a result for the same Ethereum hash rate.
     
    #34     Jun 26, 2021
  5. Ed48

    Ed48

    I guess that's one advantage of being in the UK, having 240v instead of 110v, therefore half the current for the same wattage.

    That 1-bed apartment must have got a bit toasty over the summer. :D
     
    #35     Jun 27, 2021
    johnarb likes this.
  6. Cuddles

    Cuddles

    To OP, I don't think it's worth it right now. ETH already has POS in beta. If you're paying 16k for an ASIC ETH rig, consider just buying the coins outright.
     
    #36     Jun 27, 2021
    johnarb likes this.
  7. johnarb

    johnarb

    It did, but stopped mining btc after a couple of months when it was "no longer worth it"

    Payout was less than $30/day or less than 0.04 btc/day when electricity costs from mining was over $200/month and the price of btc had gone down to less than $500/btc

    It was better to just purchase btc using credit cards from Circle. See previous post from Here4money, same concept, buying cryptos straight out was better then just as now

    Mining was great learning experience, though, but made a lot more btc's mining sha256 altcoins when they were being insta-launched and could be exchanged to btc

    I remember mining when weather was hot, but not for too long, ended up dumping the antminers to e-waste instead of dealing with the hassle of selling on ebay
     
    #37     Jun 27, 2021
    Cuddles likes this.
  8. Cuddles

    Cuddles

    mining for me has been profitable, but I'm fairly certain that money would've likely been better spent buying crypto outright. There's just not enough inefficiency in the market to make it not so anymore. I think the better strategy is keep in tune with which coins are getting hash support/ASIC'd and just spread that money around. It's a neat hobby though.

    Mining operations have their ear to the ground, it's worth it those first few weeks when you make the bulk of the hashrate, but by the time you're finding out about it, just buy the coins instead.
     
    #38     Jun 27, 2021
    johnarb likes this.
  9. cabanos

    cabanos

    Is ETH mining still profitable? I heard that BTC and ethereum mining can still be profitable for some individuals, but requires significant amounts of energy.
     
    #39     Jun 28, 2021
  10. jharmon

    jharmon

    ETH mining is still profitable.

    If you bought hardware 3-4 months ago, you should have paid it all off and be making money.

    A $20K investment in hardware 4 months ago would have yielded you about $30K of income less about $2-8K in electricity. These days it's making about $3K/month income.

    But you don't want to start mining today because of the diminishing returns, other structural changes (proof of stake) and overpriced hardware.
     
    #40     Jun 28, 2021
    johnarb likes this.