One of the primary impacts on mining profitability is the value of Ethereum. Before we discuss major changes coming to the Ethereum network let’s discuss why mining payouts fluctuate. Several key factors impact mining profitability. Many people are wondering if mining will stay profitable this year. A GTX 1080 can generate a profit of roughly $1.91 worth of ETH per day, which is starting to get pretty low. We can see that Ethereum revenue still scales somewhat with hash rate. Profitability with one 1080 (Created by Author w/ ) Here are the top three results for an RTX 3080: In general, mining Ethereum is still profitable as long as your electricity cost is somewhere around $0.15 and your GPU has a decent hash rate, think GTX 1070 or better. It then calculates the profitability of various coins and shows you the potential profits of each option along with how the profitability has been changing recently. The best tool I have found is, which lets you input the number of each GPU you have, your electricity costs, and the coins you want to consider mining.
ETH HASH CALCULATOR GPU HOW TO
I have written a couple of in-depth posts on mining and using pools to increase profits that I will link at the end here we will discuss how to find your estimated income. Unless you want to use the GPU for work/gaming in addition to mining I wouldn’t be trying to buy one anymore. You could likely pay off an RTX 3080 that you buy today and sell it when mining dies off, but that’s a lot of headache and time for a modest profit. At this point, I think it is too late to buy a GPU just to mine. At the current rate, it would take almost half a year to pay off the card, and as I will discuss below there is a finite amount of time left to mine Ethereum. $5.64 is not bad for me since my GPU is used every day for work, but it is not a great return if you spent almost a thousand dollars on the GPU to make money.
So we end up with a profit of roughly $5.64 per day, which isn’t anything like the $25-$30 per day I was making last month! Mining only at night when my house is cold has been yielding about $3 per day for around $50 profit so far in June. My electricity cost is $0.077/KwH, so if I were to run a 3080 all the time my electricity costs would be under $0.50 per day using an estimated power draw of 250W, which is high for my undervolted rig. If you own a high-end GPU already then that is enough revenue to offset electricity in most areas. However, if someone was looking to spend that $940 and use the card just to make a profit mining Ethereum they may find themselves disappointed.Ĭurrently, a single Nvidia RTX 3080 can generate roughly $6.10 worth of Ethereum per day. Compared to the $1,500-2,000 price tag they carry on the resale market this price is great for someone already looking for an RTX 3080. With the price increase, this GPU came out to $940 after a coupon. I just had my name come up in the EVGA queue for an RTX 3080 that I applied to purchase last year. However, the return on investment (ROI) for a brand new GPU, especially after the U.S. While mining may not be as lucrative as a month ago, it is likely still profitable to be mining if you already own a GPU. Current Profitability Is Mining Profitable Right Now? By the end of this post, you will have a solid understanding of how profitable mining is and how much longer it will likely stay that way. In this post, I will discuss the current profitability of Ethereum mining and then break down the timeline and impacts of the upcoming updates to the blockchain that will have major impacts on mining. But with the entire crypto market dipping and major changes coming to the Ethereum blockchain, will mining remain profitable in the future? With Ethereum’s value up considerably and congestion on the Ethereum network driving up gas fees, mining profitability has been fantastic for months. Mining Ethereum has been a great way for individuals with graphics cards (GPUs) to make some money while they aren’t using their PC.
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