Is GPU mining even worth an investment?

[HellRaiser99]

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

[1715231549]

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[1715231549]

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[1715231549]

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[Hexah]

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

A lot of ASIC chips are already out there hashing. Unfortunately GPU mining is working only for altcoins nowdays - ASIC is far more effective and profitable. But then again - you have to invest A LOT to gain a profit out of it.

[vpasic]

don't!
it's not profitable anymore IMHO.
gpu-s are expensive, high power consumption and scrypt asic-s are behind corner.
you'll never gonna make ROI.
if you think you'll gonna resell those gpu-s think again. shit load of them will be for sale everywhere after people stop mining with them! if you think people will made up some XY coin with XY algo to keep gpu-s in mining business think again.
my advice, keep away from gpu mining.
wait for next generation of miners (5-7TH) since there is no peace of asic gear worth of buying right now and be fast on buying.

[topminingcontracts]

For bitcoins sure is not a good idea

[nezarkadhem]

Have a look at Alpha Technology. They are promising the first ASIC scrypt miner. I have a group buy going if you are interested.

[somenormalguy]

Only worth it for mining altcoins. As to how long, depends on how long ASIC's (alpha technology and others) takes to ship.

[HellRaiser99]

It's so hard to figure out what the best bang for the buck is with the upcoming hardware coming out.

The Antminer S1s do not look to bad, but how quickly will they stop breaking even in the near future?

I know that I could hold onto a few for a x-amount of time, toss it on ebay and screw some poor person.

Hmm, decisions, decisions.

I would rather not buy straight bit coins because I have some thing up my sleeve.

Any help would be welcome because I am looking to start ASAP.

[russ_bt]

For bitcoins sure is not a good idea

Hi - I'm brand new here, and brand new to mining.

RE: Mining bitcoin via GPU not being a good idea - is this because of the difficulty curve that I read about, which adjusts as more bitcoin are mined, and as technology advances?

Thanks!

[joele]

Mine altcoins using multi mining pool, combine it with CPU mining and If electricity is cheap then it can be profitable.

[Noruka]

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

yes in scrypt, not in SHA. Right now you can mine more BTC per $ if you build scrypt machines (including electricity) than buying an equal costly SHA machine.

[FlyForFun]

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

You would be better off buying those ASICs now, a lot of manufacturer already selling them..

[cr1776]

For bitcoins sure is not a good idea

Hi - I'm brand new here, and brand new to mining.

RE: Mining bitcoin via GPU not being a good idea - is this because of the difficulty curve that I read about, which adjusts as more bitcoin are mined, and as technology advances?

Thanks!

GPU mining for bitcoin no longer makes sense. The power per hash is large compared to ASICs and the speed is slow. And it is only getting worse.

[fly757]

absolutely not

[ShinkeiNo]

Have a look at Alpha Technology. They are promising the first ASIC scrypt miner. I have a group buy going if you are interested.

Looks interesting. But I'm assuming their 'product' is still at the drawing board? Have you heard a timeline for production?

[S4VV4S]

Have a look at Alpha Technology. They are promising the first ASIC scrypt miner. I have a group buy going if you are interested.

You guys do realize that Asic Scrypt miners are being sold on the forum as we speak right?

Asiabtc sells them and there are groupbuys from BeastlyMac and cxboyminer

[nitehawk]

i know asics do better than cpu's for sha256 but how about for script mining?  I ask because the price of blade servers is going down all the time.. and if dells older equipment pull 5k watts for a fully populated 20 blade chassis...  it would still be less of a power draw than some of these GPU rigs  but not sure about the performance  but i would imagine depending on configuration it would be my cycles than a GPU rig...

if AMD actually made a GPU farm the way nvidia did that would have  been even better..

[raveldoni]

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

You can still make profit in altcoins script mining. Join some profit switching pool and good to go.

[S4VV4S]

I am trying to build a dedicated mining rig with a budget of roughly 10K.

Should I buy a bunch of GPUs run the hell out of them, and them sell them when the ASICs chips come out?

I hear a lot about how GPU mining is not worth the investment, but if you are new and want to front run the ASICs cards. And then use profits to purchase to upgrade is this a feasible solution?

You can still make profit in altcoins script mining. Join some profit switching pool and good to go.

Which pool would you recommend?

[bythesea]

don't!
it's not profitable anymore IMHO.
gpu-s are expensive, high power consumption and scrypt asic-s are behind corner.
you'll never gonna make ROI.
if you think you'll gonna resell those gpu-s think again. shit load of them will be for sale everywhere after people stop mining with them! if you think people will made up some XY coin with XY algo to keep gpu-s in mining business think again.
my advice, keep away from gpu mining.
wait for next generation of miners (5-7TH) since there is no peace of asic gear worth of buying right now and be fast on buying.

Not true at all.

For 1000$ lets see what can you get. in USA R270 costs about 200$ for one, one can make about 400-420Kh/s
You need some normal PSU ( some 600w ) thats some 100$ ( well a good one not the cheap one ) to run 3xR270. Then you motherboard, cpu and memory some 150$.
So 600$ for 3xR270, 250$ for PSU and other stuff. You need extenders, then frame, and USB flash ( for Linux ) that shouldnt be mroe then 70$
So for less then 1000$ you get 1,200Kh/s thats more then 12,000kh/s with 10,000$ investment.

With that much hashrate he can make about 100LTC per month, if he mines alternate currency probably some 120-130LTC when he sells and buys them.
LTC price atm is kinda low, "only" 18$/ltc, but scrypt asic miners wont be delivered until Q2 ( some say not even in mid Q3 ). And also lets face it even if they are delivered there wont be many of them out there, so he still has some 3-4 months of mining. In that time he can make 300-500LTC ( lets say 400LTC ). If he sells them for 20$ he wont make much ( granted he will lose ), but if he waits and sell when the time is come ( and some say price will go to 50+ when reward get lowered ) he can make a lot.
Then he will still have hardware, you can't expect to sell for 100% of what you payed but even if he sells for 70% ( and he will ) thats 7000$ back.

Or he can buy 500LTC for that price and gable on that. This way he stands to lose 30% ( if he buts gpus to mine ), and to cover expanses by selling them, while he makes them...

[Sonny]

Very simple.
It is definitely not profitable to mine bitcoin with GPU.
It is still profitable to mine scrypt coin with GPU.