Efficiency or NOT?

[GEMIN_M4]

Is burning 1200 watt to keep a 350MH rig running a fairly good practice or not efficient enough? The single RTX 3070 Ti in the rigs make the power consumption higher doing 81MH with Bminer, what do you think.

[adaseb]

Is burning 1200 watt to keep a 350MH rig running a fairly good practice or not efficient enough? The single RTX 3070 Ti in the rigs make the power consumption higher doing 81MH with Bminer, what do you think.

Right now it doesn't really matter because in exactly 1 month the merge is happening with Ethereum. Which means no more mining. You will need to switch to other coins which have a very small miner reward compared to ETH.

Most likely the profits will tank severely and many will quit mining altogether due to this. Before upgrading your gear you should wait a month or two and see how things turn out. However it might be the end of GPU mining as we know it.

[FirmWars]

Is burning 1200 watt to keep a 350MH rig running a fairly good practice or not efficient enough? The single RTX 3070 Ti in the rigs make the power consumption higher doing 81MH with Bminer, what do you think.

Right now it doesn't really matter because in exactly 1 month the merge is happening with Ethereum. Which means no more mining. You will need to switch to other coins which have a very small miner reward compared to ETH.

Most likely the profits will tank severely and many will quit mining altogether due to this. Before upgrading your gear you should wait a month or two and see how things turn out. However it might be the end of GPU mining as we know it.

Scary, there are so many rigs mining Ethereum in the world right now and if all that power shift into another project the profit will tank a lot and even if some leave for another coin it won't make a big difference still.

[adaseb]

Yes but what is scary is that many new miners don’t know what will happen. They don’t know that the daily supply of a coin is capped. So if more people mine it, it needs to be split eventually according to hashrate.

Right now many coins which are GPU mineable are still profitable however that will quickly change right after the merge. We will see tons of people liquidating GPUs that nobody will want to buy pretty much, unless they are gamers.

[CryptoATM]

Yes but what is scary is that many new miners don’t know what will happen. They don’t know that the daily supply of a coin is capped. So if more people mine it, it needs to be split eventually according to hashrate.

Right now many coins which are GPU mineable are still profitable however that will quickly change right after the merge. We will see tons of people liquidating GPUs that nobody will want to buy pretty much, unless they are gamers.

Sounds about right, the two sources I use to sell graphic cards are saying they aren't buying again, that's after we've came to an agreement of buying from me this week but I got a message that its not needy anymore and I asked why they said the upcoming merge lol.

[FP91G]

Is burning 1200 watt to keep a 350MH rig running a fairly good practice or not efficient enough? The single RTX 3070 Ti in the rigs make the power consumption higher doing 81MH with Bminer, what do you think.

My rigs 5x1070 or 5x488 consume about 800 watts from the wall and give a hashrate of about 140 megahash. This is beneficial if you have cheap electricity. And rigs with 1080 video cards consume even more. For about 7 days, mining farms pay for electricity if they sell coins, and the rest of the time is a profit.

[VRExpress]

Is burning 1200 watt to keep a 350MH rig running a fairly good practice or not efficient enough? The single RTX 3070 Ti in the rigs make the power consumption higher doing 81MH with Bminer, what do you think.

My rigs 5x1070 or 5x488 consume about 800 watts from the wall and give a hashrate of about 140 megahash. This is beneficial if you have cheap electricity. And rigs with 1080 video cards consume even more. For about 7 days, mining farms pay for electricity if they sell coins, and the rest of the time is a profit.

I have never heard about any graphic card with the name 488 or you meant to write 480 From AMD? Anyways, if you still have rig full of GTX 1070 then your electricity must be very cheap, I cant afford to run those cards even in a bear market unless I get the cards at a very cheap price. GTX 1070 in today's world of mining isn't good enough.

[FP91G]

Is burning 1200 watt to keep a 350MH rig running a fairly good practice or not efficient enough? The single RTX 3070 Ti in the rigs make the power consumption higher doing 81MH with Bminer, what do you think.

My rigs 5x1070 or 5x488 consume about 800 watts from the wall and give a hashrate of about 140 megahash. This is beneficial if you have cheap electricity. And rigs with 1080 video cards consume even more. For about 7 days, mining farms pay for electricity if they sell coins, and the rest of the time is a profit.

I have never heard about any graphic card with the name 488 or you meant to write 480 From AMD? Anyways, if you still have rig full of GTX 1070 then your electricity must be very cheap, I cant afford to run those cards even in a bear market unless I get the cards at a very cheap price. GTX 1070 in today's world of mining isn't good enough.

It's miner slang
488 - Rx480 8 GB
478 - Rx470 8 GB
484 - Rx480 4 GB
and so on
1063 and 1066 - Gtx 1060 3GB and Gtx 1060 6GB
I pay about $0.05 per kilowatt