GPU Mining Is NOT Profitable In My HOUSE - October 2018 Mining Farm Update

[VoskCoin]

One year ago today my cryptocurrency mining farm was earning $4000 dollars after I paid my electric bill whereas now I am LOSING money monthly. Antminer On Amazon - http://geni.us/TSS6j

https://www.youtube.com/watch?v=ukoGzDfYZRE


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I am a huge advocate of cryptocurrency mining and especially GPU mining however mining at a medium scale out of my own house paying residential electric rates no longer makes any sense or cents.

I am selling the majority of my GPU mining rigs, and do not have many ASIC miners (most are here for the purpose of reviewing them) currently. I will continue to explore unique avenues of mining such as HDD mining, CPU mining, FPGA mining, and devices like the SkyCoin Miner. Because I have the infrastructure in place whenever a very profitable miner comes available whether it is a new graphics card or a new ASIC miner, I will deploy them in my crypto mining shed.

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[1715090522]

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[1715090522]

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[benjamoyne]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

[adaseb]

If you still want to support the Bitcoin network you should try and run a node at least.

Uses pretty much no electricity and keeps bitcoin decentralized. Depending what country you are in and what your bandwidth costs are it might be benefitial.

Yes you don't get paid anything to run a node but at least you can keep supporting the network.

[Agozyen]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

 Do you have net metering where you live?  If so you may be able to keep your mining equipment on a lot longer.  It depends on how much energy you can produce versus what you are consuming.  Also, I've been thinking of going solar myself...have to wait until the next bull run though.

[blockaid.net]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

 Do you have net metering where you live?  If so you may be able to keep your mining equipment on a lot longer.  It depends on how much energy you can produce versus what you are consuming.  Also, I've been thinking of going solar myself...have to wait until the next bull run though.

wise decision on going solar. initial investment is high but you can recover it easily. and the good thing about it - it's free for the rest of your life.

[lunobird]

I'm just glad I invested my profits from last year into solar.

My L3+s get started at sunrise and shut down at sunset.

My other gpus rigs are the same.

Costs me sweet stuff all in electricity and I'm still getting some sort of profit out of them.

Plus I'll still have something for when profitability goes up.

What's your projected ROI for solar? Assuming today's value as a worst case scenario?

[lunobird]

I think it's time Vosk. It's time. Time to walk up to your old boss, let him know you got rekt in crypto and beg for your old job back.

[Metroid]

Next month will get worse, eth is reducing the reward, so expect all the coins to follow.

[socks435]

This is one of the problems when investing in mining if you are living in the country with high electricity rate mining is not profitable, you can get negative earnings from mining so in the end selling all GPU to cut the loses.

However, in my case, I have a small mining rig and free source of electricity and until now I'm mining with my small mining rig and honestly I'd like to add more graphics card in the future and hoping GPU mining will be more profitable in the future.

[d57heinz]

This is one of the problems when investing in mining if you are living in the country with high electricity rate mining is not profitable, you can get negative earnings from mining so in the end selling all GPU to cut the loses.

However, in my case, I have a small mining rig and free source of electricity and until now I'm mining with my small mining rig and honestly I'd like to add more graphics card in the future and hoping GPU mining will be more profitable in the future.

Actually this is the problem with decentralization. When the entire world runs off a different rate you cannot have decentralization when the goal is low cost transactions.  Here’s the thing. Just because I dump all my hw. Don’t think I’m goin anywhere. I’ll be here for the next run to let people know just how this system works. At least for those that don’t have a million dollars and nuclear power plant at their disposal.  If you have to buy solar to mine you’ve already lost the battle. Roi will never happen.  Have some of these guys touting their solar to run some numbers for ya.  Just off the back of a napkin It’s laughable.  Anyway it’s game over for the little guys.  This will be no different than current system except some new people are now the first movers and could see some advantage for that.  Good for them. Let’s see if they do anything good in the world with that wealth. Most of what I see is selfish posts on when they can buy a lambo.  When moon lol.  Once I step back I see just how childish this all is.  And boy I bet I seemed stupid to my family for even believing in this shit.  Of course now that I walk away knowing that it will be pushed along because btc is tooo big to fail now.  Like everything else in this world.  What’s popular is not always right and what’s right is not always popular.(Einstein)

The system it has been puprported to replace is being ran by the very same people.  How did we think this would play out?   Ugh the more I think about this the more I wish someone would have smacked me back to reality.

BR

[uralcryptocoin]

One year ago today my cryptocurrency mining farm was earning $4000 dollars after I paid my electric bill whereas now I am LOSING money monthly. Antminer On Amazon - http://geni.us/TSS6j

https://www.youtube.com/watch?v=ukoGzDfYZRE
.....

VoskCoin Gear - https://teespring.com/stores/voskcoin

I am a huge advocate of cryptocurrency mining and especially GPU mining however mining at a medium scale out of my own house paying residential electric rates no longer makes any sense or cents.

I am selling the majority of my GPU mining rigs, and do not have many ASIC miners (most are here for the purpose of reviewing them) currently. I will continue to explore unique avenues of mining such as HDD mining, CPU mining, FPGA mining, and devices like the SkyCoin Miner. Because I have the infrastructure in place whenever a very profitable miner comes available whether it is a new graphics card or a new ASIC miner, I will deploy them in my crypto mining shed.

Mining Rig Parts IN STOCK on Amazon - http://geni.us/WQd7cCs

VoskCoin Patreon - https://www.patreon.com/VoskCoin
VoskCoin Facebook - https://www.facebook.com/VoskCoin/
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VoskCoin Discord Server Invite - https://discord.gg/FGGmS2z
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VoskCoin Instagram - https://www.instagram.com/voskcoin/

VoskCoin Official Donation Addresses, support appreciated!
BTC - 12PsgKuhcJrEqJbD3oMN7rcEcuyqyqRznL
ETH - 0xDEe6A2ae293F8C58Ef71649658344BbF382b6e70
ZEC - t1ZoVF5t75NahSAfuwpcyHA8uzkPyocXpJZ
ZEN - znb1iNFP6VctF2AhXLXtMsSjP7emvYDmeXR
Loki - 
LScbLXmws9RA4SXVz5GhGm3N2YfKShw6MQGeyAjYc3bE5nYHUw3UUWxgKGN8kCnWQkfZEGN1PBxX7Zk y3aVJSpGxTZTuDLB
XMR - 484HoyS4h2fenvLKQkuUV7FwnJaGK8LMX43tiJ3UZdVU53d2MxFiQ1jbSfyorsXZVs1SvoPVh4nipjd 7b4GVgFGmCgygdpV
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It's sad to hear. If it's not a secreat what is your electricity tariff?
In my region is still can rent a placement in datacenter for my GPU rigs but the bill reachs now 80% of total rig income. And unfortunatelly month by month the income reduces. If the situation will not change I also will have to stop my rigs...

[fudster]

Can you guys post what kind of solar panels are you using to support such power crunching machines you have?
I have seen Ognasty's wind turbine and I think its much worth investing than solar panel in my opinion because just when winder came, there isn't much power from the sun and win can be a lot sustainable. How much power does a Computer with 8 GPUs on it?

[EdgeOfSanity]

You must have really high electric rates. At $.095/kwh its still profitable for me but i'm not selling. Now is the time for accumulation.

[Batelk]

You must have really high electric rates. At $.095/kwh its still profitable for me but i'm not selling. Now is the time for accumulation.

Most people in Europe will pay around double of that figure. So it is not profitable for them.

[adaseb]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

[EdgeOfSanity]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

at .10/kwh roughly 40-50% of your income goes to electricity if you know how to optimize your mining rigs properly. This of course depends on the algo you're mining but most will fall in that range. The market would need to drop another 50% or so from current levels while nethash remains the same to hit breakeven. That includes all the fees incurred for exchanging to USD.

I've looked at this pretty closely in recent months because if it happens i'll shut down my mine and if it stays low for more than a month i'll sell the equipment.

[Metroid]

This is the best time to buy coins, soon people will start buying all the coins which are popular and almost not profitable. Price of those coins will increase more than 10x and mining will return to 1 usd per card.

[adaseb]

Yes it might be profitable at $0.10/kwh but to what extent?

When 80% of all your profit is going to electricity is it really worth mining?

I did the calculation and most have the RX 470/570 which uses like 130 Watts so at $0.10/kwh you make about $0.12/day.

However after fees, bank fees, errors, GPU downtime, etc you probably end up making a nickel per GPU. Is it really worth mining for that much?

at .10/kwh roughly 40-50% of your income goes to electricity if you know how to optimize your mining rigs properly. This of course depends on the algo you're mining but most will fall in that range. The market would need to drop another 50% or so from current levels while nethash remains the same to hit breakeven. That includes all the fees incurred for exchanging to USD.

I've looked at this pretty closely in recent months because if it happens i'll shut down my mine and if it stays low for more than a month i'll sell the equipment.

I am not sure which GPU you are referring to.

But with an RX 470 which hashes at around 28Mhs nets about 0.40 profit where 0.30 is electricity cost alone.

Not sure how the 1080ti fares but with those your main issue is to ROI the GPU first so you got more issues to worry about than just the GPU cost.

[hiphoptrail]

you are only finding this out now???

i guess you have been squeezing as much click bate youtube money you could.

going from 1 video with pros and a short time later to this is crazy bro.

sell more shirts.

[lunobird]

you are only finding this out now???

i guess you have been squeezing as much click bate youtube money you could.

going from 1 video with pros and a short time later to this is crazy bro.

sell more shirts.

lol..

mans gotta eat,   let him earn whatever chipotle burrito he can get. +1 for Tails