Anyone mining Ethereum from home?

Reason why it made sense in China is they have such easy access to the fabrication pipeline, and so they can make cheap miners even for small initial investments.

I'm not sure retail mining is really a thing with ETH any more, it would take you around 3 years to make back any profit, and you're open to market fluctuations and equipment degradation in that time.
 
I am in a small scale but I bought my GPU years ago. I'm not sure it is a good idea to buy GPUs now for that purpose. They are trading at very high prices, furthermore EIP1559 (ETH upgrade) will change the rewards miners get, which should decrease profitability. Also, when ETH moves to proof of stake, you will no longer be able to mine it with a GPU. You would still be able to mine other coins but how do you know it would be profitable vs just outright buying the coin? This is one of those things that if you have to ask, you probably shouldn't be doing it. Unless, its just to learn and stuff
 
You've missed the boat.

A $1000 graphics card currently generates $3 in profit a day less whatever 2.8 kWh of electricity costs you with a serious risk of it producing far less soon.

If you did it 6 months ago, it's paid for itself by now and you've got a free graphics card (and a warm house).

But now, not so much.
 
jharmon said:
You've missed the boat.

A $1000 graphics card currently generates $3 in profit a day less whatever 2.8 kWh of electricity costs you with a serious risk of it producing far less soon.

If you did it 6 months ago, it's paid for itself by now and you've got a free graphics card (and a warm house).

But now, not so much.
More...
Exactly. If it doesn't pay for itself in 6 months don't buy it. GPUs are coming down in price because the Chinese have slowed their mining but unless you have 9-cent per kwh power I wouldn't start buying GPUs.
 
jharmon said:
You've missed the boat.

A $1000 graphics card currently generates $3 in profit a day less whatever 2.8 kWh of electricity costs you with a serious risk of it producing far less soon.

If you did it 6 months ago, it's paid for itself by now and you've got a free graphics card (and a warm house).

But now, not so much.
More...

2.8kWh would cost me $20/day (24*2.8*$0.3).

As mentioned in the other thread, my idea was to use a rig as a cheap form of heating in the winter but it's a non-starter if it only reduces the cost from $20/day to $17/day.
 
Ed48 said:
2.8kWh would cost me $20/day (24*2.8*$0.3).

As mentioned in the other thread, my idea was to use a rig as a cheap form of heating in the winter but it's a non-starter if it only reduces the cost from $20/day to $17/day.
More...

Wow you pay $0.3 per kwh? Where do you live?
 
terr said:
Wow you pay $0.3 per kwh? Where do you live?
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He does not ive in the US or in New York City.The 21.4 cents per kWh New York area households paid for electricity in May 2021 was 52.9 percent more than the national average of 14.0 cents per kWh.
London 17.20p
 
2.8kWh is a daily figure

If you are paying $0.30 per kWh then 2.8 kWh costs you $0.84, reducing your daily profit to $2.16. So 462 days until break even!
 
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