Bitcoin Forum

Are you profiting with ETH or other Altcoins?

Whats your outlook?

How are the big boys doing... are you one of them? what's the electricity to profit ratio/conversions?

I am not a big boy in mining but mine as I can. Was collecting money and bought 8 gtx1070ti one year ago, price was acceptable too, in winter had great time for 2 week and ROIed 20% in these two week. Now mine most profitable coin according to whattomine.com and exchange to ether and bitcoin, withdraw some of them.
Worths for me to mine, is very energo effective compared to others + electricity isn't expensive for me.

Electricity would always be a big factor before considering yourself to mine. Most people say that mining is dead but eventually
there are still lots of dudes out there do still mine since it do generate some considerable about of profits in spite of this current market
condition.When seeking up for faster ROI then finding some low value or difficulty coins will be worth to try but finding them would really
be hard or does require time.

Octominer here. The big boys are still playing the big game. We supply big mining farms in USA and Canada with fully built GPU miners and ASICs. We are currently working on multiple 5MW+ projects, selling the new MicroBT M10(contact us for a great deal ;D) SHA-256 Bitcoin miners and AMD RX580 8GB based GPU miners. The really crucial part here is the cost of electricity, most of our bigger clients have 4-5 cent USD electricity. This is really important for large scale mining to make sure you will remain profitable when BTC price is down.

I've been mining for a few years and only down to my most efficient GPUs which are the RX series and they are heavily undervolted and heavily underclocked and they turn a profit but very little. At this point I am just hodl'ing the ETH until the issuance reduction in January and then going to most likely package up the GPUs and sell them in a year or so when the second hand prices of the GPUs start to rise.

There is also the chance that there might be some crazy FOMO and ETH might go to $1000 very quickly and the profits of $1-2 per day per GPU will be back but I am not counting on it happening soon.

Its not worth mining for 10 cents a day, rather just power off the GPUs.

23 GPU's and so far, is not going well. Electricity bills are huge and the profit is so low that im willing to shut them down for a while. This past 2 months are the worst.

What are you guys paying in electricity?  You have to have low overhead in this market to last.  I lucked out and pay $.049 a KWH.

Mining is currently profitable only at low electricity prices, about 6-7 cents per kilowatt and below. If the rigs are indoors, then in winter the profit is greater due to the use of heat and reducing heating costs.

Better to find a good location or country that has a least value of electricity bills, it will not profitable if they still doing that on expensive payment source of electricity. That's why some miners find a alternative way like solar energy and etc.

I have similar GPU. But my electricity price is about $0.18/Kwh. I mine at loss now, just use the heat to warm my room.

You guys are very very lucky.
I pay about $1.11/Kwh

Thinking about a long term project. Solar system on my farm. 9-10 months open sun in my land.
Just working on a feasibility right now. Let's see. MAybe I can sell my rigs too if the market goes start a bull run again.
Dont know.

I had two rigs with 12 GPU total. 377mh/s. i shut them down like 4 months ago.

Every month i make my calculations, considering the price of the coin, electricity costs, and heat related issues (specially where i live because it's hot here in Spain).

Reality matters the most for me.

1º i DO NOT THINK THIS MARKET WILL RECOVER

2º There will be NO BULL RUN IN DECEMBER.

3º ETH is not doing well, no important projects are making contracts with it, and the amount of money received by smart contracts is not being said, so if the one that has to "pump" the hype among investors, is not doing it, just put yourself in the worst scenario possible.

if i had been mining during the last 4 months, i would have payed something around 340$ only for the machines, every two months, so 680$ of electricty generated by machines,  but generating around 0,70-0.80 ETH a month, i would have lost around 7 $ a month if i sold for cash to pay bills WITH NO GARANTEE THAT HOLDING I WOULD DO BETTER.


So for me, the decision to stop machines WAS A VERY GOOD DECISION. For me, this market is dying and it's obvious. 

Let me put it this way. I remember people saying mining was "dead" all over here in late 2012. Yet here we are.

Want to make a bet you won't still be here in another 4-5 years?

My electricity is about 0,05 $ per kWh
Maybe it's time to move to Slovakia - heart of Europe  :)

It's already over for the home miners, the only people making big profits are the giant farms with extremely low electricity.  It was fun while it lasted but I suggest selling off your GPUs before they become worthless.  Maybe if you have solar power or really cheap electricity you can continue mining but for most people it is not worth it anymore in the slightest.

yeah i mined btc on a few gpus at just over break even cost ~2012 and hodled. paid off nice later. of course past results dont mean anything today. but it worked then.

now? who knows. if a rig is paid for and its mining at or better than electric, why not keep it chugging along.

EDIT: im not in the big boy club, just a hobby miner.

I only have one low power consumption mining computer with 6 cards. I do manage a few rigs for my colleagues and they have turned off their rigs. I told them to continue to mine hoping for a better outlook than these quiet months but they refuse to because unfortunately they don't believe anymore on a recovery.

I do believe so I am still mining at my home for fun now but who knows what happens to the price of bitcoin after sometime and I am conserving every mined reward.

Mining still profitable. Even WTM shows that operational cost below 0.15 $\kWh gives some profit for mining. Just about 20% above spent money but it's still profit. In the case you check new perspective projects and fine tune your mining machines the profit could be more. Is it difficult now to buy and run new mining machines? Of course, yes. Though each investment in silent period is risky.

Where is this? I couldn't afford to eat let alone mine crypto.

i have a bunch of rigs and just bought 50 more 8 cards rigs for cheap because I am that confident in crypto.  I also just bought 70 more L3 for cheap.  Is it a risk, of course it is.  I think its a good calculated risk.  If you don't that's cool I respect your decision but I ask you to respect mine as well.

I stopped mining in july, too little profit to deal with the heat, and sold most of of my gpus. I kept a couple, one at each location i mine ( home and work). I just started again with them, its getting colder now so its basically free heating and a small 1$ day profit ( a 1080ti can basically still do like 50c day after electricity) after 0.12 electric cost. which i basically just trade for btc and hodl it in case sometime the next couple of years it takes off again.

once it starts getting warmer again ill stop unless the situation has changed drastically.

I have to say, this was exactly the mantra back in 2012/2013. For real.

Yet here we are. I bet we will be hearing the same thing in 5 years, yet people will still be mining at home for a small profit.

It might have been the mantra but that doesn't make it incorrect. The GPUs used back in 2012/2013 would have been very inefficient compared to the newer ones available in 2016/2017 when home mining made its comeback.

Sure if you hung on to your gear from 2012/2013 you would have made some additional profits in 2016/2017, but you would have made more money by selling your gear off back in 2014 when it still had value and with that money either bought coins directly when they were cheap or invested in newer cards in early 2016 when mining started becoming profitable again. Mining is cyclic which seems to take 4-5 years to work through the entire boom/bust phase, well GPU technology and efficiency changes quite a bit in those 4 to 5 years to expect your old hardware to compete when the new cycle hits.

So yes in 5 years we will be hearing the same thing and people will be home mining, but they will be mining with new GPUs not even available yet that will outperform your current cards by 2-3 times. I also say sell them off now while they still may have some worth and either save the money for new cards in 1-2 more years, or better yet just buy some coins outright while they are cheap and just hang on for the next cycle.

You got in it for the wrong reasons.

You my friend are not wrong. Thats exactly the move to have made in 2014, and this is that all over again.

I'm debating the wisdom of selling off the last of my GPUs right now. Gotta keep a few for free heat at least. I probably will sell whats left though and buy/hold BTC with that money. When things start to take off again in 6mo-2 years I'll buy back in with better gear and be able to afford 2 to 1 what I have right now.

selling gpus into a downturn is stupid af, the time to sell them was when there was a scarcity
its one thing if vega and 2000 series were say like double the power or efficiency but they barely push
20 percent better than polaris and 10x

better to hold

If the electricity price allows it for you then yes, it's better to HODL the gear also. :)

Selling graphic cards is indeed a stupid thing to do but selling them in favour of buying new more powerful ones with a little bit of extra money is not stupid at all.

I think what is happening with the market right now is as the saying "becoming quiet before the storm" and I believe we will have a beautiful upside storm during middle of 2019 and up.

This is interesting as I'm just considering starting small in mining, more for technical interest and to link to a pool, as I have an old PC I could use with just a single GPU for now, that way I only have the cost of the actual GPU to consider. Anyone with any suggestions as to which GPU to look at right now. I was looking at a Vega64 or Vega56 yesterday on Amazon UK and this morning, thinking it may be a tad lower for black friday I was surprised to see it's £100 more than yesterday. Cheeky buggers.

I could probably put the box in my office, depending how noisy it is, so the cost of the electricity may not be quite so important for me...

1) I m sure that mining is still profitable, but you need much time to search new and low difficulty
coins - they can give good profit, if you come in early.

2) Also now is perfect time to buy used GPU-rigs from people who decide sold them for cheap.
If you have affordable electricity cost it can be a beneficial deal for you.

I do the same. The only difference is that my electricity is higher at $0.18. So I use the miner for heating.

9 rigs, 66 gpus, 60/40 split 1070ti/1080ti, $.09/kwh for electric. Mining shitcoins, still profitable.

Instead of mining just find undervalued crypto’s. Much better value doing research https://youtu.be/A7EwZVOQ6BQ

Normie tryin to mine and trade  ;D

Thanks for the advice captain obvious.  The issue is that when there was scarcity, it was very profitable!  Yes it would have been best to sell at the top.  You could say that about literally anything.  There is an opportunity cost with keeping your gpus.  You can hold onto them, make pennies, and hope things improve drastically in the near term, or sell them and put the money to work in other ways.

From my point of view, i'm considering to sell all of the GPU's, only so i can buy new coins again. Currently, there is no point of mining when electricity is ~75+ % of the whole income. And again, if i take the money that i pay for electricity, i can buy more coins that i mine..

Personally, at $0.16/KWh my polaris rigs are not profitable anymore. My Vegas and 1080's are still churning but basically just for show as they make about a buck a day each.

So I'm spec mining a bit, solo-mining some, trying out stuff. I've got a potential free-power hosting opportunity coming up so I'm keeping all rigs and take it as it comes.

I don't sell my mining rig and I don't buy any coins for the current sitution. atm, if you have a lot of money better investing in other assets  ;D

I think that next year when 7nm GPU's will come out + 7NM ASIC's then the CRYPTO world will start to come to life again.
Also in future we gonna have MCM GPU design that will make 1080TI like ~GTX 1060/1050. 7NM wide spread is the key for the CRYPTO world!.

As of now the only rigs that are profitable are the Vega and 1080ti rigs that are giving a better hash per watt efficiency. All of us with older rigs are finally out of the picture completely. The good news is that the cards that are now obsolete for mining are still perfectly capable of playing all but the latest games at high/ultra settings, and can still make the latest games playable on lower settings. Now is the window to sell the GPU's while they can still play games.

Many forum members here are still mining, especially the ones who have reached their ROI and keep mining just with a smaller profit.

The profit now is very dependable on various factors - electricity costs, rigs and cards you are mining on.

P.S.: it is also important that you have high quality components on your rig, so that by the time you achieve your ROI, it’s parts have not  degraded, making you lose your profit.

Most of the miners here say - “stopped mining the profit is too low”, which proves that there still is profit, we were just spoiled by another mining tempo for the last couple of years.

Well the way things are right now unless you have 6 cent power and no rent or other overhead, you are not making any money on any coins.

Using ETH as an example, at $130, I see 8 cent power is breakeven only figuring for power and already paid off rigs. In reality with pool fees, miner fees, pool luck, miner luck, reboot downtime, etc., it is probably closer to 7 cents power for a true breakeven, as the other 1 cent is for the (unseen by many) overhead costs.

So those continuing to mine in order to accumulate the coins for at or more than what you can buy them for at these levels is simply insane. Even at 6 cent power you are maybe making a whopping 60 cents per day for an entire 6x RX480 rig, or roughly 10 cents per GPU.

LOL, even an used $100 eBay GPUs will now need 1000 days to recoup their costs!!! Mining is dead!

I agree, It's never ever been at a lower point than now.. Except for 2009 maybe, briefly.

I personally see BTC heading towards $1k in 2019 and a rebound to $5k in late 2019-early 2020.

Well seeing what was behind the doors regarding the asics last January, I must say I was spot on on the "GPU mining will die in 2018!". It's sad but I'm always right about my predictions.

I have 26 GPU. Nvidia and amd mixed.  I pay 0.12€/kwh and still profitable for me. However I had to improve my GPUs efficiency by undervolting even more. I always do my research and go for promising coins.

As I posted in past:

To be honest I really like cryptocurrencies and the concept of proof of work. I don't think I'll ever stop mining. If market crashes like It's happening I'll just do more research.

Anyway If you don't really like wasting your time on mining maybe you shouldn't mine. (at a moment like this)

You deserve the title of "i don't know what the hell i'm talking about". If -$0.03 is profitable for you per day per gpu then i really have no idea.

https://whattomine.com/coins/151-eth-ethash?utf8=%E2%9C%93&hr=30.0&p=130.0&fee=2.0&cost=0.12&hcost=0.0&commit=Calculate

As I said, Im mining new coins and I have big undervolt.

You deserve the title of "I don't know to read"