Is the mining of Ethereum profitable?

[klintistwood]

I don' t understand why some people keep on saying it's not profitable, especially at the current rates. It's simple math and yes electricity cost is a variable.

With a rig like mine you can get more than 30$/day easily, some days even around 70$ if you can select the right coin (I even made 80$ one day on ZCL). Yes it needs power but not for a cost of 30$/day and if the mined coin increases in value, your profit per day is virtually much bigger. When I started mining I could make 10$/day on ETH, profitability was not very high. Now those same ETH I kept have 5 times more value so it's like I was earning already 50$ / day at that time. If the value continues to go up, it will increase profitability of mined coins even more. At that rate the cost of a mining rig is covered in less than 3 months, add electricity cost, one year electricity might add a month or two.

Of course, there is one easy alternative, you can buy the coin directly Buying 2500$ worth of ETH 6 months ago would be around 12000$ today, mining cannot beat this in a fast growing market but once prices will be more stable, mining will be the best alternative.

[dagarair]

omg sarcasm.  Plus why add another guy that clearly has no clue if he is asking that question.

[klintistwood]

omg sarcasm.  Plus why add another guy that clearly has no clue if he is asking that question.

He will learn one way or another

[johnnie18]

Is there ETH mining that using CPU instead of GPU? ETH cost is now very high and still increasing...

[duongit]

ETH cost US$1300. I think it's possible.

[infofront]

If you want Ethereum, probably better to just buy some and HODL - looking at all the miners of the last few months, more profits can be made by just buying and hodling

This. It's almost always more profitable just to buy the coins and hodl.

[drunkenone]

Is there ETH mining that using CPU instead of GPU? ETH cost is now very high and still increasing...

No, CPU mining is obsolete

[ziko888]

i think you should try this coin DCY .. it's not famous but have a bright future...
see this video for more information https://www.youtube.com/watch?v=vHYC2OPo8pY

[ternyabin]

In connection with the announced transition of the ethereum to the algorithm of Proof of Stake (PoS) mining will not be relevant. https://www.influencive.com/ethereums-casper-almost-heres-need-know/
This will save a lot of electricity.

[shield132]

Despite the fact that I like ethereum for mining, for this you need rx 480/580 GPUs, which are best in this job and you'll ROI quickly. But as you see nvidia cards worths much more and ROI on ether is very slow here, if you get 3 month from rx, on nvidia you'll get 5-6. But also consider this fact, nvidia cards are great for mining other altcoins too, now some of them has high prices. Just see on whattomine, with nvidia you can get 25$ pure profit daily + these cards are new and you can sell them anytime at a great price.

[bachani_rs]

If you have amd rig ETH is one of the best to mine.
You can always sell ETH on an exchange platform and buy cheap coins with maybe bigger opportunities for future growth.
Or just hodl.

[ronatrip]

In connection with the announced transition of the ethereum to the algorithm of Proof of Stake (PoS) mining will not be relevant. https://www.influencive.com/ethereums-casper-almost-heres-need-know/
This will save a lot of electricity.

Yep, This can fundamentally change Ethereum and the mining will become less profitable. I think there is nothing better than the mining of bitcoins now

[Littledragons]

The right answer is "it depends"
If you are mining ethereum, probably not. If you are renting hash, no.
If you buy a rig there are tons of things to mine, eth being one of them, which eventually you may break even on.

Its not really something that you ought to look at as "is this profitable" but look at it more like - should I convert fiat to crypto in a slow steady stream or in lump sums.

Ultimately the issue with "profitability" is that is assumes static prices, which is absurd for these markets.

[Lancusters]

In connection with the announced transition of the ethereum to the algorithm of Proof of Stake (PoS) mining will not be relevant. https://www.influencive.com/ethereums-casper-almost-heres-need-know/
This will save a lot of electricity.

Yep, This can fundamentally change Ethereum and the mining will become less profitable. I think there is nothing better than the mining of bitcoins now

Mining bitcoins is not very profitable. I like mining with GPU. You can always switch to more profitable coin. Current GPU few years. Special equipment can produce only one coin and requires constant updates. Now dual mining eth+dcr gives a good return with minimum investment.

[dagarair]

uhhh the s9 does about 40$a day what do you mean not profitable.

I have 150 Eth miners,a bunch of zcash and 20 btc and some ltc miners...  BTC MINER is most profitable for a month or2 now.

While I agree if I had to choose one i'd choose a gpu miner for adaptability purposes.

[johnyjohnb]

Mining is still profitable, even mining Ethereum as was asked. I think you should look at different subreddits, like /r/ethermining or /r/gpumining. Some like to invest in coins instead, some enjoy the mining aspect.

[grintsch]

Mining gives you the possibility to earn coins on an ongoing basis, thereby basically smoothening out price fluctuations. It's almost like a savings plan.

Sure ETH mining can be profitable, but that also depends on your location and the price for electricity. You can find a lot of good material here: https://www.cryptocompare.com/mining/

[andrey111]

Half a year ago I was interested in this issue, but then there was no finance, for investment, now when they appeared, I decided to try. Old people ... tell me, is it worth starting now?

[imunk]

As the price of Ethereum hovers around $300, you may be wondering to yourself whether or not it’s worthwhile to begin mining. Like Bitcoin, Ethereum is a proof-of-work coin that uses miners to confirm network transactions. The profitability of mining varies from person to person and changes over time – usually becoming less profitable as the coin matures, So try it with minimalist deposit so you not afraid if fail.

[landysh007]

Yes, at the moment, the mining of ethereum is profitable, but they can refuse from mining at all according to information from the latest news. This will change the rules of the market crypto currency.