Ethereum Miners Likely Lost Money During the Past Two Years

Ethereum Miners Seemingly Misplaced Cash In the course of the Previous Two Years

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It is no secret that cryptocurrency costs have plummeted, and the potential earnings from GPU mining have gone proper together with them. It has been some time since we have up to date our greatest GPUs for mining as a result of it isn’t advisable to put money into new {hardware} at this level, nor has it been for a lot of months. 

However we had been curious concerning the potential earnings miners might or might not have realized over the previous two years, so we determined to perform a little research primarily based on the worth of Ethereum versus the price of {hardware} and energy. In brief: for those who did not promote your foreign money earlier than the crash, you will have most likely spent greater than you earned.

Under, we have chosen ten of the preferred graphics playing cards for cryptocurrency miners. These additionally occur to match up properly with the greatest graphics playing cards for gaming, assuming you possibly can really discover any of the GPUs in inventory for an inexpensive worth. To maintain issues easy, we’re solely Nvidia’s authentic non-LHR fashions to provide us the standpoint of people that may need picked up a card proper on the day of the GPU launch.

The numbers we’ll current assume 24/7 mining, with no pool charges. We have used our personal calculations for energy draw and hash charges, erring maybe on the upper finish of the profitability spectrum. We have additionally used a worth per kWh of $0.10, which can or will not be much like what you’d pay, but it surely represents at the least a simple place to begin. Lastly, we have calculated issues with no promoting of mined cash — the “HODL” mindset, in different phrases.

These are strict numerical estimates, that are nearly actually higher than what anybody doing actual mining skilled over the previous 20 months or so. We’re additionally not together with the price of the remainder of the PC, and costs on GPUs had been far and wide so we have used a considerably conservative estimate, which means most individuals paid greater than what we’re displaying within the desk. It’s best to most likely add at the least $750 for the price of a CPU, motherboard, PSU, RAM, storage and case. We’ll cease there and let the numbers converse for themselves.

Ethereum Mining Since GPU Launch
RTX 3090 RTX 3080 RTX 3070 RTX 3060 Ti RTX 3060 RX 6900 XT RX 6800 XT RX 6800 RX 6700 XT RX 6600 XT
Launch Date 9/24/2020 9/17/2020 10/29/2020 12/2/2020 2/25/2021 12/8/2020 11/18/2020 11/18/2020 3/18/2021 8/11/2021
Hash Fee (MH/s) 119 97 60 60 41 62 62 61 46 32
Energy (Watts) 320 240 135 140 110 175 175 170 120 75
Complete ETH Mined 2.709 2.294 1.21 1.076 0.492 1.09 1.17 1.152 0.495 0.17
Days Mined 641 648 606 572 487 566 586 586 466 320
ETH Worth $3,247 $2,749 $1,450 $1,289 $589 $1,306 $1,402 $1,380 $594 $204
Energy Value $492 $373 $196 $192 $129 $238 $246 $239 $134 $58
Potential Earnings $2,754 $2,376 $1,254 $1,097 $461 $1,068 $1,156 $1,141 $459 $146
Approx. GPU Value $2,500 $1,500 $1,000 $900 $750 $1,500 $1,350 $1,200 $1,000 $650
Web Earnings (Loss) — GPU Solely $254 $876 $254 $197 ($289) ($432) ($194) ($59) ($541) ($504)

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