Mining ETH is now no profit

[unewbie]

Hello everybody,
Mining ETH now seems to be no profit.
I use VGA P106-100 6GB;  6 card
150Mh/s; 750W

Why many people still are mining ETH??

[nc50lc]

-snip-
150Mh/s; 750W

How can your rig only consume 750W?
Each card has TDP of 120W which could reach up to 180W of power in real usage.
Also the processor, motherboard, Drives and peripherals consumes power, even with 120W the whole rig would consume more than 750W.

You might be losing more than you think, how much is your electricity cost?

Why many people still are mining ETH??

"Free Electricity" Dudes.
Huge Mining farms with low-cost Electricity or additional alternative sources (Ex. Solar).

[adaseb]

It's definitely profitable and all depends on your power cost, that and Eth is a coin people are speculating on.

Its still not profitable or barely profitable in many places around the world.

The only people who find it profitable at the moment are the ones with 10 cent power, which is fairly common in many places but in many other places like Hawaii its still not profitable.

Right now putting the number into What-to-mine you would need basically power to be less than 20 cents per kilo-watt hour to make break-even, based on a RX 470 4GB GPU which is fairly common.

I guess some can mine now and sell in the future if ETH ends up doubling in value.

[MATHReX]

-snip-
150Mh/s; 750W

How can your rig only consume 750W?
Each card has TDP of 120W which could reach up to 180W of power in real usage.
Also the processor, motherboard, Drives and peripherals consumes power, even with 120W the whole rig would consume more than 750W.

You might be losing more than you think, how much is your electricity cost?

I have quite of few of them and each of it consumes 80-85W mining ETH only at 24-25 MH/s.
A rig of six cards as such with other things considered will consume around 600-650 W from the wall. So, I guess that's fine.

[FoBoT]

Not profitable might be in two parts, do you mean what you have left after converting ETH to USD left you with zero profits or you did not mine any impressive amount of ETH ?
The first is as a result of power bills while the second is as a result of ETH high difficulty.

[Beyerd17]

Mining ETH has not been profitable for most regular miners for a long time now, that is not something that has come up recently sadly. Then again if Bitcoin keeps rising and drags the value of ETH up with it, mining ETH can become profitable in the future.

[sereze]

150 Mhs gets you roughly 3 USD per day, electricity cost = 0,1 USD/kwh , 0,75 ( 750 watt ) x 24 x 0,1 = 1,8 USD electricity  cost , 3-1,8= 1,2 USD profit. Is it sensible to build a mining rig with this conditions? Maybe with second hand parts, definetaly not with brand new equipment. Is it sensible to continiue mining with your existing rig? Yes

[encycrypto]

150 Mhs gets you roughly 3 USD per day, electricity cost = 0,1 USD/kwh , 0,75 ( 750 watt ) x 24 x 0,1 = 1,8 USD electricity  cost , 3-1,8= 1,2 USD profit. Is it sensible to build a mining rig with this conditions? Maybe with second hand parts, definetaly not with brand new equipment. Is it sensible to continiue mining with your existing rig? Yes

Not everywhere the electric cost is 0.1$ per kWh. Maybe OP is living somewhere where the cost is 0.15$ per kWh.

[serhanni]

It looks like mining is not profitable right now but if ETH price can catch ATH value, today's mining value will be profitable again. So, this is why people still continuous on mining.

[BitBustah]

It looks like mining is not profitable right now but if ETH price can catch ATH value, today's mining value will be profitable again. So, this is why people still continuous on mining.

If that happened people would be much off just buying Ethereum instead of putting money into their mining operation.

[lobat999]

I think most ETH miners are banking on the assumption that ETH price would replicate its previous ATH soon and that they still continue to mine it in the hope that its price will rise again even when it seems still like a losing operation.  I personally would like to call this mining-as-an-investment strategy. 

[Metroid]

ETH has been unprofitable for the past 14 months. I only consider profitable if roi is less than 200 days which is not the case at moment.

[cryptomaxsun]

Why not profitable? Very profitable.
See, 150 mh is $3.23 per day.
Take the price of electricity 6 cents, 0.75*24=18, 18 *0.06 = $1.08
3.23-1.08=$2.15 per day, *30 day= $64.5 per mouth.
And if the part is only sold, and the rest is sold at a higher price, then it will turn out well.

[GhostWithin]

Why not profitable? Very profitable.
See, 150 mh is $3.23 per day.
Take the price of electricity 6 cents, 0.75*24=18, 18 *0.06 = $1.08
3.23-1.08=$2.15 per day, *30 day= $64.5 per mouth.
And if the part is only sold, and the rest is sold at a higher price, then it will turn out well.

Why 6 cents? The price of electricity is different everywhere, for example, in my country in my region the cost is about 9 cents. There are regions where the cost is higher.

[stfN2128]

Hello everybody,
Mining ETH now seems to be no profit.
I use VGA P106-100 6GB;  6 card
150Mh/s; 750W

Why many people still are mining ETH??

when it comes to profitability of mining on any altcoin / btc it  is still the same. Profitability depends on your electricy costs. you pay 0.1$ just imagine there are people paying 3 cent or less for 1 kWh. this is the reason why miners are still in game. there are also miners who speculate on higher prices in the future...

[Galantin]

If you don’t have to pay for electricity, it’s profitable) And if you consider that ETH continues to grow, then I think that you can make money on small farms. Yes, in general, small farms do not really survive today. So many problems from 60-100 $.

[serhanni]

It looks like mining is not profitable right now but if ETH price can catch ATH value, today's mining value will be profitable again. So, this is why people still continuous on mining.

If that happened people would be much off just buying Ethereum instead of putting money into their mining operation.

It is true if you don't have a rig, I can not suggest
 buying mining parts atm. But if you have a rig already and you keep the mined coins, you can sell them for 6x profit

[Lucky-marsik]

my mining farm is very far down in yield Ethereum. well that free electricity, it would long ago have gone into minus mining at this

[Arturo85]

its worth nowadays?

[BitBustah]

Why not profitable? Very profitable.
See, 150 mh is $3.23 per day.
Take the price of electricity 6 cents, 0.75*24=18, 18 *0.06 = $1.08
3.23-1.08=$2.15 per day, *30 day= $64.5 per mouth.
And if the part is only sold, and the rest is sold at a higher price, then it will turn out well.

Why 6 cents? The price of electricity is different everywhere, for example, in my country in my region the cost is about 9 cents. There are regions where the cost is higher.

Serious miners are paying nowhere near that, they are closet to 1-2 cent range.  Anyone that is paying around 10 cents should just pack it up and do something else besides mining.