ETH mining 101

[g4ry13]

I was thinking about the crypto mining business recently.

With the rising cost of energy + falling crypto price it really can't be profitable to mine unless you have secured cheap energy costs / solar power?

[audi321]

g4ry13 said:

I was thinking about the crypto mining business recently.

With the rising cost of energy + falling crypto price it really can't be profitable to mine unless you have secured cheap energy costs / solar power?

It’s not profitable at all. Unless you have very efficient GPUs and/or a low fixed legacy tariff.

The low ETH price coupled with the energy costs meant I was losing money just for having them turned on, so I sold everything (as per my previous posts in April/May)

Edited by audi321 on Tuesday 30th August 18:54

[CubanPete]

Bumpety bump.

I am in the process of getting solar and a battery installed. In the summer I will have an excess of electricity, and I will also be able to access an Agile electricity tariff with the battery over winter.

I am toying with a cheap rig, I can turn off and on when I have excess electricity.

Does this sound sensible / Am I being realistic for payback with current crypto / electricity prices... Any recommendations for a cheap PC or ASIC?

[audi321]

Personally I wouldn’t bother going to the effort. Since ETH went PoS last year the rewards for mining are virtually nothing. You would need a very big rig setup to make a few quid a day.