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Question: Do you use CPU mining in addition to GPU Mining?  (Voting closed: July 05, 2011, 12:37:34 PM)
YES and I don't care about additional energy costs/ I don't pay for the energy I use - 4 (8.2%)
YES, I only do CPU mining - 2 (4.1%)
MAYBE, I am unsure what to do - 2 (4.1%)
NO, my CPU is not fast enough, Hashrate is not high enough to pay off - 35 (71.4%)
NO, not anymore after reading this discussion - 6 (12.2%)
Total Voters: 49

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Author Topic: CPU mining - revenue vs. costs  (Read 3788 times)
Endeavour79
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June 23, 2011, 12:37:34 PM
 #1

Hi Miners,

I am interested in, do you use your CPUs for mining? Do you mind the additional energy costs?
Does CPU mining pay off for you at the end?

I am using my GPU for mining and was using the CPU as well as a second miner.
After considering all variables and calculating the ROI I stopped CPU mining.

Let me explain my calculations:

My i72600K @4.6GHz produces 23.3 MHash/sec while the system consumes 110 Watts energy in addition (no GPU mining). This means, with a difficulty of 877226 you need to let it run for 5 years and 46 days to get a Block. Breaking this down with a conversion rate of $15/BTC you end up at $0.40 Cents/day (or $12.29/month).
Using my energy costs ($0.25/kWh) I spend $0.66/day for the additional energy. This makes a profit of minus $0.26/day (or loss of $7.89/month)

That's why I stopped CPU mining, because for me (who I do have to pay for my energy) it's a loss at the end of the day.  Cry

What do you think about this topic.. Let's discuss your experience!

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June 23, 2011, 01:20:04 PM
 #2

CPU mining is always a loss, no matter how cheap someone's power is.  That's why Sempron CPUs are so popular with multi GPU miners: it's worth using the cheapest possible CPU that uses as little power as possible when busy.

Even if power is free CPU mining is incredibly wasteful.  The miner would be employing a ~$250 CPU to earn cents per day (and getting worse every 10 days or so). 

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June 23, 2011, 01:36:59 PM
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Its been discussed. Don't waste your time and money.

if you want to do mining then you HAVE to invest in a GPU mining rig and only invest if your electricity is under 10c. The mining is eventually going to be done with whoever has the cheapest energy. If someone can get free energy (producing it yourself) then that is who will mine.

Everyone else will eventually get beat out UNLESS bitcoin steadily rises in price (very likely to happen as economy matures).

Also at your rate of 25c/kwh (where the hell do you live? HAWAII???) you probably won't even break even with a rig.

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June 23, 2011, 03:33:37 PM
 #4

In the future, when bitcoins are worth over 9000 dollars a coin, you will look back and say "damn! that was still an amazing deal!"

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June 23, 2011, 04:20:34 PM
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Sorry, but those who think BTC will be worth 9000/coin are downright religious. They have religious zeal.

I'm not that devoted. I'm a bit more realistic than that. Bitcoin is a unique concept, technically sound, with a lot of potential -- but it's potential that hasn't been tapped yet. We need to reach a lot more people, etc.

I like Bitcoin. A lot. I've invested a few thousand in mining equipment. I want to see it succeed.

But I see no reason to blindly hope for anything more than REALITY is giving me right now, as far as the BTC price goes.

When I project my income, etc. I project based on the current price, which is the the most realistic. Right?

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June 23, 2011, 05:58:16 PM
 #6

In the future, when bitcoins are worth over 9000 dollars a coin, you will look back and say "damn! that was still an amazing deal!"

The fallacy with this argument is that the money spent on the electricity for CPU mining can more optimally be invested directly into to bitcoins by purchasing them.

If in fact bitcoins ever become worth over 9000 USD a coin, then one would be far better off purchasing them with the money otherwise sent to the power company!
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June 23, 2011, 06:07:58 PM
 #7

Run your rig off of solar power. Some countries have deals (eg the UK) where they pay you 2x or even 4x the usual rate they charge for electricity generated.. sometimes they give you free power during the times when it is generating too. A sound 10-15% return on a solar rig over 25 years (in the UK) plus free power which you can use to mine bitcoins! win win Cheesy

Probably still wise to use that free power GPU mining rather than CPU though lol.

Only good reason to CPU mine would be if you have access to a large amount of machines (with free elec) which you can use for long periods... IT guy at a school for example?

Anyway, I use my cpu to mine as well as my gpu.. although I haven't spent any money on specifically building a mining rig.. I'm just using my usual machine when I don't need it.

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Endeavour79
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June 24, 2011, 08:30:19 AM
 #8

Thanks for the input so far..keep going!  Grin

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June 27, 2011, 02:33:21 AM
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People still even talk about CPU mining?  I thought that was just for namecoins (or was, last month)

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June 27, 2011, 04:50:53 AM
 #10

everyone seems to forget the costs of overheads including maintenance for the hardware, What you think your hardware will run for ever 24/7 mining? think again...

I haven't been mining long enough to know how long a GPU or CPU will last, if I knew this, it would have to factor in the replacement cost of that time period..
Initial Costs, Power, Replacement Cost(after the GPU/CPU shits it self), General maintenance(Fans ect..). that's not even including your own time on doing maintenance..

Conclusion is that mining should not be looked at for making profits, but instead be look at it as helping the bitcoin community, because that's the real reality.. and for people who think they will make money from bitcoin mining, you will always find excuses to justify why you are mining and pointless me telling you the harsh reality...

fitty
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June 27, 2011, 05:00:36 AM
 #11

Hi Miners,

I am interested in, do you use your CPUs for mining? Do you mind the additional energy costs?
Does CPU mining pay off for you at the end?

I am using my GPU for mining and was using the CPU as well as a second miner.
After considering all variables and calculating the ROI I stopped CPU mining.

Let me explain my calculations:

My i72600K @4.6GHz produces 23.3 MHash/sec while the system consumes 110 Watts energy in addition (no GPU mining). This means, with a difficulty of 877226 you need to let it run for 5 years and 46 days to get a Block. Breaking this down with a conversion rate of $15/BTC you end up at $0.40 Cents/day (or $12.29/month).
Using my energy costs ($0.25/kWh) I spend $0.66/day for the additional energy. This makes a profit of minus $0.26/day (or loss of $7.89/month)

That's why I stopped CPU mining, because for me (who I do have to pay for my energy) it's a loss at the end of the day.  Cry

What do you think about this topic.. Let's discuss your experience!


CPU mining is dead. Get a 5770 for $100 and you'll get 200MHash for 108 watts. 10x better then the best core i7 at 1/3 the cost.
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June 27, 2011, 05:27:34 AM
 #12

Run your rig off of solar power. Some countries have deals (eg the UK) where they pay you 2x or even 4x the usual rate they charge for electricity generated.. sometimes they give you free power during the times when it is generating too. A sound 10-15% return on a solar rig over 25 years (in the UK) plus free power which you can use to mine bitcoins! win win Cheesy

Probably still wise to use that free power GPU mining rather than CPU though lol.

Only good reason to CPU mine would be if you have access to a large amount of machines (with free elec) which you can use for long periods... IT guy at a school for example?

Anyway, I use my cpu to mine as well as my gpu.. although I haven't spent any money on specifically building a mining rig.. I'm just using my usual machine when I don't need it.

I know it's rather cliche to say, but "free electricity" isn't free. Someone is picking up the bill. For schools, it'd be the tax payers and possible trust funds, if set up.

But solar power is an excellent idea, although not the cheapest equipment wise. If only those damn electrical engineers would get of their asses and make some solar pannels with greater than 10% efficiency (just joking  Grin).
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June 27, 2011, 09:04:10 AM
 #13

Sorry, but those who think BTC will be worth 9000/coin are downright religious. They have religious zeal.

I'm not that devoted. I'm a bit more realistic than that. Bitcoin is a unique concept, technically sound, with a lot of potential -- but it's potential that hasn't been tapped yet. We need to reach a lot more people, etc.

I like Bitcoin. A lot. I've invested a few thousand in mining equipment. I want to see it succeed.

But I see no reason to blindly hope for anything more than REALITY is giving me right now, as far as the BTC price goes.

When I project my income, etc. I project based on the current price, which is the the most realistic. Right?



People said the exact same thing when people talked about bitcoin going to 20$/each when it was only .01/each.

If you do the math, 9000/bitcoin is actually rather realistic. It all depends on how many people start using it. Right now bitcoins is growing exponentially in terms of use.

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theowalpott
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June 27, 2011, 09:29:18 AM
 #14

Run your rig off of solar power. Some countries have deals (eg the UK) where they pay you 2x or even 4x the usual rate they charge for electricity generated.. sometimes they give you free power during the times when it is generating too. A sound 10-15% return on a solar rig over 25 years (in the UK) plus free power which you can use to mine bitcoins! win win Cheesy

Probably still wise to use that free power GPU mining rather than CPU though lol.

Only good reason to CPU mine would be if you have access to a large amount of machines (with free elec) which you can use for long periods... IT guy at a school for example?

Anyway, I use my cpu to mine as well as my gpu.. although I haven't spent any money on specifically building a mining rig.. I'm just using my usual machine when I don't need it.

I know it's rather cliche to say, but "free electricity" isn't free. Someone is picking up the bill. For schools, it'd be the tax payers and possible trust funds, if set up.

But solar power is an excellent idea, although not the cheapest equipment wise. If only those damn electrical engineers would get of their asses and make some solar pannels with greater than 10% efficiency (just joking  Grin).

Theres some newer panels by Sanyo which are supposedly fairly efficient, I think someone said 18% (although I was very skeptical when I heard that)! I think the biggest thing for solar is being able to sell the power back to the grid at an inflated price. For example in the UK, they guarantee a rate of £0.42 per kWh (maximum 4 per hour) for the next 25 years. If you look at the costs of installing solar (~£10-12k), you should find that it gives a return of ~10-15% interest on your investment over that time. You should expect to make the money back on the initial investment within 8-10 years, everything generated after that is pure profit! Smiley

Obviously this is all under the assumption that you can afford to invest that kind of money, but I keep reading about people blowing 10k+ on mining hardware, so why not? - it's probably a safer investment than bitcoins with a higher (pretty much guaranteed) return. Plus you usually get free electricity while it's generating! You're also doing your bit for the environment too, so you can be smug about it! I should point out that the government in the UK is withdrawing the £0.42/kWh rate for something less this year, so get in while you can!

Anyway, not exactly related to CPU mining, so I'll stop going on about solar lol

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June 27, 2011, 10:00:01 AM
 #15

everyone seems to forget the costs of overheads including maintenance for the hardware, What you think your hardware will run for ever 24/7 mining? think again...

I haven't been mining long enough to know how long a GPU or CPU will last, if I knew this, it would have to factor in the replacement cost of that time period..
Initial Costs, Power, Replacement Cost(after the GPU/CPU shits it self), General maintenance(Fans ect..). that's not even including your own time on doing maintenance..

Conclusion is that mining should not be looked at for making profits, but instead be look at it as helping the bitcoin community, because that's the real reality.. and for people who think they will make money from bitcoin mining, you will always find excuses to justify why you are mining and pointless me telling you the harsh reality...
As long as you keep it clear from the dust, yes.

In the distributed projects world we have CPUs running since ages, someone on SETI has a pentium-something happily running 24/7 for like 10 years  Cheesy

About GPUs, same, they are running since years  Cheesy
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