Bitcoin Forum

Do you think it makes sense to solo mine ETH with ASIC miner? I know the chances of making anything is very low but I have excess electricity available and I want to solo mine for years, I will just plug and play then abandon the miner until few years later, good or bad idea?

Why solo mining? Explain please what to you think and why you ask us such question?
No one knows what is the best for you. Do some calculations. About how many Asics we are talking? Do you think you are a lucky guy? Do you want to do this because of the last news about some solo miners?
You must be strong, because it is hard to mine for days, weeks maybe months without any reward.

For most people it ends up with the same result for solo and pool mining in the long term in my opinion.

You've seen some news about one miner finding a block of BTC, ETH etc right?
Remember that are thousands of miners around the world and the difficulty of ETH is high

If you have 1 or a few asics miners, of GPUs:
1 - Mine in a pool, gain some ETH and keep, sell, trade, anything you want, but you'll be rewarded
2 - Mine solo, but consider it's a lottery, don't count on winning any block, it's pure math, you have chances, but it's only a tiny chance

If you have hundreds of Asics and GPUs makes sense to mining solo, you'll probably earn a little more than mining in a pool sharing rewards

With a single ASIC miner?  ;D mehn you are funny I'm guessing you are inspired by those BTC and ETH blocks been solved by those two lucky miners isn't it? If that's what you got in your head better get rid of it now because you can solo mine for years with zero result

I want to try some my luck and yes I accept it as a lottery, like I've said before the chances are so slim but still I want to take the risk, I have GPU mining rigs that brings me dollars every day but this ASIC miner is old I just want to do this, even if I made nothing from this I don't care

Yeah its  absolutely make sense to solo mine ETH with ASIC , the question is what kind of asic you have for solo mining :)
If you have a few Bitmain Antminer E9 (3Gh)  , go ahead and mine solo , but if you have something with less hashrate , better if you joining to a mining pool with your asic hardware.

Just a side note , those E9 ASIC miners is around 30.000$ each as of right now :) still cheaper than build a 3GH mining farm from 30-32 rtx 3080 cards , or 26 rtx3090 cards :)

Good luck with your solo mining adventure , and good luck to get those 30k+ ASIC hardware's :)

get a few , just plug it in , and let it run , abandon them for a few years :)

Go ahead, share with us if have any luck

I'm curious now, which Asic miner do you have? How about hashrate and power consumption?
I didn't know you already have this asic

I say go for it, test your luck hehe, you know that even an old computer from the 80's can mine btc, the question is how lucky it can be to find a block, probably millions of lifetimes hehe, now imagine if he finds a block in this lifetime? was worth it? only the person can evaluate that eheh I'd say no, better throw in the bin and buy something that can increase your luck and then try in a better level playing field. You dont need to have an extreme hashrate amount for that. For example mining eth in 2015 with 1 gpu with 30mhs would find one block per week, nowadays to find one block you will need 8 years, possible to find one block tomorrow yeah, from tomorrow to the infinite hehe

If you don't care, then why are you asking this question?  :D

Obviously, you do care, but all members are trying to let you know is to be realistic. You might mine all your lifetime and not win a single block. You must be ready for that outcome, too.

Luck is something very interesting, one person with 100mhs on eth might find 10 blocks next 10 days and another person with the same 100mhs might not find a block in the next 10 years ehhe, so everything is subjective to luck when mining solo.

30,000$ for a E9 ASIC miner? That's freaking expensive mate I'd rather buy GPUs because if this E9 have any problem you are in for another trouble, parts aren't going to be cheap unlike old ASIc miners and this will waste you time to fix too, GPU all the way

What is your asic?
You must have read the latest news about the success of solo miners who have earned more than 100 coins. In the lottery, too, someone wins millions of dollars.
Here the hashrate of the solo miner plays a very important role and not every block is bold. There are blocks where the reward is only a few coins.

If that is true then it means sheeps are all buying it, sheeps like to pay a lot for less ehhe and dont try to understand how sheeps think.

I had this old Antminer S3 which I had very quiet and I decided to try my luck solo mining Bitcoin with it. This was maybe 5 years ago.

I mined for about 9 months before I decided to throw in the towel. Didn’t even come close to finding a large best share which was maybe 1% of the difficulty back then. I think a few guys on the ckpool solo had an Antminer S5 and they managed to find a block or two.

So try your luck but you need to be really really lucky.

Hmm, there is possibility that BTC will hit 19k again and ETH will hit 800$ again If this happens mining difficulty will go down I think that's the best time to try your luck with solo mining, the lower the difficulty the higher your chance

But that's not for today. Well, if OP has the guts, there's no need for any validation from us and just go with what you think you're up. I've seen people that have made a decision that seems like a gamble to them years ago but later on, they've made profit from that decision and they're happy with the risk that they've taken. Since electricity isn't an issue to you and the asic miner that you have, plug and play it man!

Do what you have to do mate and don't let anyone discourage you, I always have positive results when I do things by myself and when I try to follow others advice It always seem like i was lead astray, follow your own mind the only reason why I won't mine is electricity costs and if that's available for free then why wait?

If your ASIC miner has at least 1 Ghsh of processing power leaving it running for years as you say may or may not hit a block but I am assuming a price crash of Ethereum up to 400 USD and the difficulty will go extremely down,then this is your chance that 1 Ghsh power may well find a few blocks and you can make your self a couple of Ethereum coins.That is the most idealistic scenario I have put up here,for realistic ones you have enough replies above ;D.

Once ETH goes PoS, which can happen in just 6 months, that ASIC ETH miner will be unuseable. You will not be able to mine with it, and you will not have to ROI, not even on a pool. Let's not talk then about solo mining.

That's dumb. Really Dumb. And ignorant , tbh.