GPU Mining with 30 1080Ti Cards (Need some advice)

[Philcriv]

Hello all,  I'm new to the forums and I am looking for a little help.

A few months ago I spent some serious cash on building (2) 12 card gpu rigs,  and (1) 6 card gpu rig.  All with Nvidia 1080ti cards.

A friend of mine showed me mostly how to use nicehash to mine.   I have since almost got investment back.
However now being that crypto is is down I'm at most able to make about $50-$60 usd in BTC a day from nicehash.   I understand that since alot more people are mining with nicehash and crypto being down,  the returns are much less.

I have tried mining different coins over the past few weeks, Zecash, Zclassic, etherium, etc...  Along with trying different pools.   The end result all seem to be about the same,  netting about $50 to $60 usd a day no matter which coin I choose.

My question is,  is that about all I can expect to make these days with 30 1080ti cards,  or should I look into other options?

Any help would be greatly appreciated. 

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[flip4flop]

The market is down but if you are almost already breakeven thats a great start.  Mine and hold a few coins and ride out the downturn.  With that size farm you could accumulate a few different coins every month or so and have a good portfolio going. I would start there and not sell anything till the market turns around.

[whitrzac]

Ropecoin

[lunobird]

Sell all your gpus at premium and buy more coins iff we get another big drop. Btc below 6k

[philipma1957]

Sell all your gpus at premium and buy more coins iff we get another big drop. Btc below 6k

Sell 6 or 12 or even 18 of the gpus.  try to get +5-10%  ie sell a 700 dollar one for 735 to 770

between the mining you did and the sales price you get.  you profit more

keep some of the cards in case minng gets better


you have 6,12,18,24,30     as the possible gpus to sell

I would list six to start.


I want you to straddle  ie not sell all the cards  not keep all the cards.

[Max Likelihood]

I'm dealing with a similar situation (different rig array) and have lightened up on some cards for a slight profit, coming close to ROI.

More cards out = rising difficulty etc. BUT many hands will be folding in the next few months because of this, so if you choose to stay in you can get some of that hash power and keep up with jones etc.

I also wonder with the proliferation of coins and algos if some of this hash power will be diluting across more block chains and other projects seeking CUDA cores like Hadron Cloud, folding etc., and we will reach an equilibrium between cards in use, difficulty, and prices. Some coins fail, new ones pop up, a matter of timing and targeting. Good to be able to adapt, I like to stay diversified b/w coin, equipment, cash.

[cpfreeplz]

1080tis got very popular so I'd have to agree that you should sell them at a premium. Mining will hopefully pick up again, or if you're able to mine coins with great potential and hang o to them long term, even better, but if you're looking to make profit now just flip those GPUs for a quick profit. It's not what you intended to do I'm sure, but at least you won't lose.

[duhjeff]

Hello all,  I'm new to the forums and I am looking for a little help.

A few months ago I spent some serious cash on building (2) 12 card gpu rigs,  and (1) 6 card gpu rig.  All with Nvidia 1080ti cards.

A friend of mine showed me mostly how to use nicehash to mine.   I have since almost got investment back.
However now being that crypto is is down I'm at most able to make about $50-$60 usd in BTC a day from nicehash.   I understand that since alot more people are mining with nicehash and crypto being down,  the returns are much less.

I have tried mining different coins over the past few weeks, Zecash, Zclassic, etherium, etc...  Along with trying different pools.   The end result all seem to be about the same,  netting about $50 to $60 usd a day no matter which coin I choose.

My question is,  is that about all I can expect to make these days with 30 1080ti cards,  or should I look into other options?

Any help would be greatly appreciated. 

something is not right..

How are yo only making $50-$60 on 30 1080 ti's?   20k hashing power and you definitely doing something wrong there..  $60-$70 is more realistic number (pre electric cost)

I ran into identical situation as you back in january.....so I ditched nicehash and started to mine to pools.  I went with most profitable coin using awesome miner / miningpoolhub but did not get any better result.

So instead of chasing the most profitable coin at the moment (auto switch), i mined on most promising coin.   We'll see how that goes..

[practicaltexan]

I agree.  Reduce your liability to 0 by selling and then just take the profit anything over electricity.   I would actually go against selling at a premium beyond your initial investment. If you paid $700 a card and got 3 months of use out of it and you sell it for $35-40 more than you paid for it....you have made money,  but burdened someone else with a no-warranty GPU.  At least when you have it, you have a manufacturer warranty but they won't.

You understand the risks and so do they you hope,  don't increase their risk just for $35-40.  Crypto is tough enough.


Anyway,  my 2 satoshi.

[remauto1187ma]

Telling the OP to sell the GPU's now has got to be the dumbest idea ive ever heard.  The "market" appears to be down BECAUSE Btc price is down and the OP gets paid in Btc on Nicehash.  You still are mining around or just under the normal rate that you have been (difficulty levels not withstanding) but your payments are worth less because Btc is down to just over 9k.  When Btc goes up....So does the dollar value of your Btc that you have been paid by nicehash.

Keep mining with ALL the cards and just wait out the dip....It will go up and when it does...CASHOLA.

[Max Likelihood]

Telling the OP to sell the GPU's now has got to be the dumbest idea ive ever heard.  The "market" appears to be down BECAUSE Btc price is down and the OP gets paid in Btc on Nicehash.  You still are mining around or just under the normal rate that you have been (difficulty levels not withstanding) but your payments are worth less because Btc is down to just over 9k.  When Btc goes up....So does the dollar value of your Btc that you have been paid by nicehash.

Keep mining with ALL the cards and just wait out the dip....It will go up and when it does...CASHOLA.

It's a good point. Let the headwinds settle down and think about future value of coins. That's what I hate about the calculators--unless you're selling immediately they're misleading.

[szafa]

Check lbry and use ccminer 1.8.2.

[duhjeff]

Telling the OP to sell the GPU's now has got to be the dumbest idea ive ever heard.  The "market" appears to be down BECAUSE Btc price is down and the OP gets paid in Btc on Nicehash.  You still are mining around or just under the normal rate that you have been (difficulty levels not withstanding) but your payments are worth less because Btc is down to just over 9k.  When Btc goes up....So does the dollar value of your Btc that you have been paid by nicehash.

Keep mining with ALL the cards and just wait out the dip....It will go up and when it does...CASHOLA.

They’re telling him that so there will be one less miner and more earnings for the rest of us...

Yeah bro, sell them all

[gpu-pool.com]

https://discord.gg/wQ5axCE

hit me up at discord. I'll give u some advice either you choose to mine at my pool or not!

[lunobird]

Do anticipate that we are going to be in a bear trend for another 3 or so months and dont' expect prices to move up anytime soon.  We haven't even reach accumulation stage yet and that will last a few montsh.  We will reach a point where it will cost more in electricity to mine the coins due to difficulty increase and further lower prices.  It has happened in the past.

If you need the money to pay taxes or whatever you should cash out soon to catch a premium on the video cards.  Once things go negative on electric rate expect a flood of gpus to start hitting up the market and your premiums you could have had will fade away.  Weak hands will sell gpus and coins.

If your financially covered, sure keep on mining for fun, but dont' expect any lambos like the good ole days .  Maybe a bicycle at best.

[Za1n]

Do anticipate that we are going to be in a bear trend for another 3 or so months and dont' expect prices to move up anytime soon.  We haven't even reach accumulation stage yet and that will last a few montsh.  We will reach a point where it will cost more in electricity to mine the coins due to difficulty increase and further lower prices.  It has happened in the past.

If you need the money to pay taxes or whatever you should cash out soon to catch a premium on the video cards.  Once things go negative on electric rate expect a flood of gpus to start hitting up the market and your premiums you could have had will fade away.  Weak hands will sell gpus and coins.

If your financially covered, sure keep on mining for fun, but dont' expect any lambos like the good ole days .  Maybe a bicycle at best.

I agree with this sentiment, at the very least don't look into buying anymore new GPUs, but it very well might be a good time to short your GPUs so to speak. Sell them now at a premium and you will be more than likely be able to buy them back at a steep discount in a few months time.

We got a second wind with mining late last year with prices shooting up to ATH's to keep things profitable, but that scenario going forward seems to be less and less likely to repeat anytime soon as the market continues to go down. Looking back on history we could be looking at another 3 years before things pick up again, but even under the best conditions it will be several months before the market recovers to the point of making mining attractive again.

With all this going on the mining difficulty continues to shoot up on a daily basis, either due to new GPU miners coming online or maybe the Ethereum ASIC rumors are true. In any event, it all adds up to mining profitability continuing to stagnate and it may as some have predicted start to turn negative for those with higher operating costs.

[ivakar]

Do anticipate that we are going to be in a bear trend for another 3 or so months and dont' expect prices to move up anytime soon.  We haven't even reach accumulation stage yet and that will last a few montsh.  We will reach a point where it will cost more in electricity to mine the coins due to difficulty increase and further lower prices.  It has happened in the past.

If you need the money to pay taxes or whatever you should cash out soon to catch a premium on the video cards.  Once things go negative on electric rate expect a flood of gpus to start hitting up the market and your premiums you could have had will fade away.  Weak hands will sell gpus and coins.

If your financially covered, sure keep on mining for fun, but dont' expect any lambos like the good ole days .  Maybe a bicycle at best.

yeah, nothing to add here
absolutely agree here
for me, I have about 12 x 1080ti
I can make about 50$ per day but mining some new coins, it risky yes, but usually pays well..
before I was making 100-150$ per day with these cards, but that days are over
now if I'm making around 1000$ per month with the card, I'll be ok, this 1000 will cover all my bills and there still be some profits for me. so why not?

[remauto1187ma]

Exactly.  The sentiment of i was making $75 a day two months ago but now im only making $45 a day now so im going to sell everything is just plain stupid.  Sell it all for a loss or slight "profit", keeping in mind that slight profit could be made every month just continuing to mine with the kept equipment.  Sell it all....Great Business Decision turned into a Stupid Life Lesson.