ETH miners buying up Nvidia RTX 30 laptops
With Ethereum almost $1,600, mining is has been very profitable and miners are scrambling to get their hands on next gen GPUs. With RTX 3000 series GPUs almost impossible to find, miners are turning to laptops with RTX 3070 and 3080 GPUs in them to supplement their GPU farms.
A bulk of these GPU mining operations are in China with power prices as low as $0.03 kwh. At those prices a single RTX 3070 laptop can make a profit of just under $6/day with a 3080 pulling as much as $9.40 after electricity costs.
With a RTX 3080 laptop costing around $2,000, a miner can break even in around 7 months if nothing else changes. Nvidia RTX 30 laptops are becoming just as difficult to get a hold of as a result.
I've actually been considering getting back into Ethereum mining and regret selling my mining rigs despite making almost 100% of my purchase price back. Although most of my cards were 3GB and wouldn't be able to mine Ethereum as the current dag size is 4.07GB.
Even an older Nvidia 1070 can make around $2.20/day with moderately high electricity costs of $0.15 kwh. Looking at Ebay, I am seeing 1070's going for around $360-$400+, I paid $400 back in 2017.
The demand for GPUS for gaming and current stock shortages has had a massive impact on the gaming industry. Gaming on PC has become a luxury reserved for the lucky or those willing to pay a premium of as much as 250% over MSRP. Even building an used machine has become difficult with 5 year old GPU cards going for near original cost.
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GPU prices are insane. I bought my Radeon 5500XT for sub $200. I went on amazon to see them at $449.
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I'm calling it, the next gen of cards will launch with a gaming edition and a mining edition. With built in software to disable mining on the gaming edition.
And that'll get hacked on day one.
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I guess they can keep you warm on winter nights. Our electricity is a bit more expensive, but maybe it's still viable if you can get one. Very dependent on the price staying up.
It's early 2018 all over again. I have 2 of these sitting in my current PC, surely they are too old to generate profit or be worthwhile now?
They still generate profits. Not as much though. I am mining with this one.
I built a nice new open air mining rig 6 months to get my 8Gb RX580s and Vegas mining and then found that the cards weren't being recognised by the operating system.
They were working before I shut them down but a couple of years on the shelf seems not to have agreed with them. Fans spin up but the PC won't recognise them
Any ideas? Should I bake them?
omg, gpu and laptop hell 😂 gamers soon won't be able to buy laptops any more.
I wanted to build a new PC this year, because I haven't paid attention to the current mining and GPU craze. I mean, I knew that prices were inflated... but to this extend?! A fucking GPU that costed 200 USD a couple of months ago now goes for at least 700 USD, if you can find one at all. Looks like I'll have to wait another couple of months.. at least.
that's so crazy, but I don't think that it is solely due to the miners. Main reason is likely the global lockdowns, working from home, PC demand on an all time high and maybe China cannot keep up with production, who knows maybe China is also under lockdown, and then there is also the trade / tariff war (additional taxes and regulation), which could effect American GPU manufacturers.
Yeah there are many reasons, all at once, very unfortunate. I think the biggest issue that there is this shortage of some specific kind of computer chip, which is needed for consoles, cars, computer components etc.
Whatever, I hate it :D
Gotta admit, I'm now hoping ETH crashes so all those machines flood the used equipment market.
It's really insane... wondering what will happen with those after ETH 2.0 takes over
It's crazy, just imagine the amount of junk electronics once POW gets replaced. I'm sure they will release a miner card again like they did 3 years ago to bump up the hype on their cards. Of course that does make Nvidia another good stock to buy ;)
If GPU-PoW ends (which is not the case) cards will be sold for research or gaming...that's the point of GPU based egalitarian PoW. GPUs other than ASICs are liquid assets since they are multipurpose.
Oh the annoying demand for graphic chips use for mining is heating up again. Frustrating to gamers trying to get good equipment nowadays.
Wait, you are saying I can mine ETH with a profit using my 1070 GTX Laptop? I have to check my energy price...
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Thanks for sharing information, I don't have much faith in Ethereum, to date I consider it an "old" blockchain. Furthermore, this Ethereum 2.0 seems to be never ready.
and semi conductor shortages
I have a computer with windows millenium. can i mine Eth too?
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