Daily Mining Profits

kirbyrj

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Joined
Feb 1, 2005
Messages
30,100
Eth has been bleeding all morning, just dumped 5% instantly a few minutes ago.

edit: Just dumped another 1%. Testing 1.5k.

edit: Another 1%. Blew right through 1.5.

In the grand scheme, the merge is essentially a triple halvening which isn't priced into the market. 10% swings during one of the most volatile days for ETH's history aren't going to change that IMO.
 

Verge

Supreme [H]ardness
Joined
May 27, 2001
Messages
7,535
Mining software on PC's can switch coins automatically, ofc that's the big spikes we saw last night at 3 am.
But what about ASICs? If they have to be turned manually, it will take a few days.
ASIC's aren't affected by the eth merge.
 

kirbyrj

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ASIC's aren't affected by the eth merge.

Not sure what you're implying there. IMO, of course they are affected. Profitability is way down and to mine something else you'd have to manually configure it depending on your pool, etc. I think TaintedSquirrel is implying that the hashrate won't come online all at one time due to configurations where autoswitching software (Nicehash) would instantly switch to something more profitable.

Of course, I think TS and I are talking about ASICS for ETH, and you might be referring to the BTC ones. They are not affected.
 
Joined
Nov 10, 2005
Messages
992
I never got into mining... started to dabble to learn but never did...
my last month electric bill was $620 and this month $729 !!!!! and I AINT Mining!!!!!
trying to figure out WTF is goin on in my house for those prices!!!!
 

pclausen

Gawd
Joined
Jan 30, 2008
Messages
696
If you consumption is the same, they are just raising your rates on you. What was your kWh during previous bill cycle vs. current one?

As expected, my daily profit on ERG keeps dropping. Was $36 this morning, now $31/day.

Would be fair to say diff and hashrate have gone up a "wee bit" since this morning:

2miners_hash_9_14_22.jpg


2miners_diff_9_15_22.jpg


Above is just 2miners of course, but its like that across the board. Interesting to see the hashrate actually went back down after an initial spike, but I'm pretty sure things will be in flux for a while.
 

Gideon

2[H]4U
Joined
Apr 13, 2006
Messages
3,127
I switched my rigs from ETH to ERG before going to bed last night. I was making $70/day last night on ETH. Today, I seem to be holding steady at right around $35/day. So a drop of 50%, not nearly as bad as I expected, but it will probably take several days or maybe weeks before things truly settle. As a bonus, my power consumption for my rigs dropped from about 8kW to 6.5kW and all my rigs run much cooler as a result. Still running with clocks optimized for ETH, so I'm sure I have room to tweak things for better hash rates/efficiencies. ps. my power cost is $0 since my rigs are 100% solar powered.
Last I checked solar is not free and has a limited lifespan, so you still have costs for power.
 
Joined
Nov 10, 2005
Messages
992
buddy of mine got solar.. he loves it.. his electric bill while mine has been $600-700, his was $4 !!!!!
I agree though that it will take years. He paid $29,000 cash to have it installed and while certain times of the year he does pay some, he said the most he has ever paid is $130.
I cannot go solar as there are trees around me and they are not mine. Yes i could have his trees trimmed vertically to the property line but do not want to bother. waiting to move, covid screwed that up with these stupid house prices, then i am going solar...
 

pclausen

Gawd
Joined
Jan 30, 2008
Messages
696
Well, I paid for my solar system with earnings from mining back in 2017/2018. I anticipate getting another 20+ years out of it. It would have already ROI'ed over the 7 years, had I paid from non crypto funds, since my install cost was less than $1/watt by doing all the work myself. I can buy solar panels for $0.40/watt currently. My power cost went from about $0.12/kWh a year ago to about $0.17kWh now, so the ROI would be even faster today.
 
Joined
Nov 10, 2005
Messages
992
Well, I paid for my solar system with earnings from mining back in 2017/2018. I anticipate getting another 20+ years out of it. It would have already ROI'ed over the 7 years, had I paid from non crypto funds, since my install cost was less than $1/watt by doing all the work myself. I can buy solar panels for $0.40/watt currently. My power cost went from about $0.12/kWh a year ago to about $0.17kWh now, so the ROI would be even faster today.
so one can install themselves? i thought of trying to buy some panels and put on back of my roof and tie in... to keep it cheaper (got a bro who is a licensed electrician too)
 

undertaker2k8

[H]ard|Gawd
Joined
Jul 25, 2012
Messages
1,934
My last 'extra' GPU was shipped out exactly 90 days ago, think I'm ok with that call now...though should probably have sold the 3090 too 6 months ago...but hindsight and timing the market are fools' errands, should have sold the home 6 months ago too but there is only the problem of a roof over the head ...
 

Gideon

2[H]4U
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Apr 13, 2006
Messages
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so one can install themselves? i thought of trying to buy some panels and put on back of my roof and tie in... to keep it cheaper (got a bro who is a licensed electrician too)
Has to pass inspection if it's connected to the grid, but no law stops you from installing it yourself.
 

NightReaver

[H]ard|Gawd
Joined
Apr 20, 2017
Messages
1,802
Has to pass inspection if it's connected to the grid, but no law stops you from installing it yourself.
Pretty much. As long as you're not the type to spaz out when handling electricity. I'm sure there's a million guides out there on how to set it all up.
 

Andrew_Carr

2[H]4U
Joined
Feb 26, 2005
Messages
2,670
so one can install themselves? i thought of trying to buy some panels and put on back of my roof and tie in... to keep it cheaper (got a bro who is a licensed electrician too)
Yeah, there's some good youtube guides on it. I've looked into buying used panels ($40 for 200W or so) and doing something on my own, but I don't have a ton of land to put them on unfortunately. Tying it into the grid and not using batteries seems like the most cost effective route to go, even with the extra paperwork needed. Batteries are just too expensive.
 

cdabc123

2[H]4U
Joined
Jun 21, 2016
Messages
4,067
Yeah, there's some good youtube guides on it. I've looked into buying used panels ($40 for 200W or so) and doing something on my own, but I don't have a ton of land to put them on unfortunately. Tying it into the grid and not using batteries seems like the most cost effective route to go, even with the extra paperwork needed. Batteries are just too expensive.
It's pretty easy to build a solar setup that drastically beats the companies and month to month scams that are pushed for solar installs. As you noticed panels are dirt cheap. An large inverter is still pretty expensive and batteries can occasionally be found for decent deals and are necessary depending on where you live/ your utility situation. If I was mining off solar I would setup a independent solar/ battery set up that feeds the machines and pulls from the grid when needed. Definitely not enough money in mining anymore tho.
 

xenium

[H]ard|Gawd
Joined
Aug 15, 2006
Messages
1,921
ASIC's aren't affected by the eth merge.
They're all on ETC now making pennies a day. Of course they're affected.

I think Erg has a lag on the adjustment of like two days. Look out Friday.
Yup. You can just do the math though, at 200TH you're looking at less than $1/day per GH. Ergo profits are about to fall off a cliff once difficulty spikes.
 
Last edited:

applegrcoug

Limp Gawd
Joined
Aug 28, 2021
Messages
301
Really rough napkin math here....

Peak Eth was 1000Th and ETC was like 60Th and Erg was 30Th, converted to Eth=15Th, Rvn was 6Th, Converted to Eth=12Th, Flux was 3Ms, converted to Eth=5Th, so 1092 Eth equiv TH

NOW

Eth is zero, ETC is 305Th, Erg 200Th or 100Eth equiv, Rvn is 20Th so 40 Eth Equiv, and Flux is 6Ms, or like 8 Eth equiv....

453 Eth Equiv, so by my quick reckoning, that is like 40% of the hash power as yesterday.
 

MrGuvernment

Fully [H]
Joined
Aug 3, 2004
Messages
20,870
Well, I paid for my solar system with earnings from mining back in 2017/2018. I anticipate getting another 20+ years out of it. It would have already ROI'ed over the 7 years, had I paid from non crypto funds, since my install cost was less than $1/watt by doing all the work myself. I can buy solar panels for $0.40/watt currently. My power cost went from about $0.12/kWh a year ago to about $0.17kWh now, so the ROI would be even faster today.
I considered looking at the DIY route, but turns out where I am , you are not legally allowed to install your own solar because of "safety concerns" with the power grid... (Alberta, Canada)
 

auntjemima

[H]ard DCOTM x2
Joined
Mar 1, 2014
Messages
10,862
Really rough napkin math here....

Peak Eth was 1000Th and ETC was like 60Th and Erg was 30Th, converted to Eth=15Th, Rvn was 6Th, Converted to Eth=12Th, Flux was 3Ms, converted to Eth=5Th, so 1092 Eth equiv TH

NOW

Eth is zero, ETC is 305Th, Erg 200Th or 100Eth equiv, Rvn is 20Th so 40 Eth Equiv, and Flux is 6Ms, or like 8 Eth equiv....

453 Eth Equiv, so by my quick reckoning, that is like 40% of the hash power as yesterday.
Might be temporary while people figure out what to switch to, or it's permanent and people have given up and will start selling me some cards.
 

xenium

[H]ard|Gawd
Joined
Aug 15, 2006
Messages
1,921
Really rough napkin math here....

Peak Eth was 1000Th and ETC was like 60Th and Erg was 30Th, converted to Eth=15Th, Rvn was 6Th, Converted to Eth=12Th, Flux was 3Ms, converted to Eth=5Th, so 1092 Eth equiv TH

NOW

Eth is zero, ETC is 305Th, Erg 200Th or 100Eth equiv, Rvn is 20Th so 40 Eth Equiv, and Flux is 6Ms, or like 8 Eth equiv....

453 Eth Equiv, so by my quick reckoning, that is like 40% of the hash power as yesterday.
add ~75TH from ETHW to that as well

Side note, Ergo hashrate and difficulty are currently (still) skyrocketing. Difficulty just jumped from 6p to ~16P as well.

IMG_20220916_021316_917.jpg
 

applegrcoug

Limp Gawd
Joined
Aug 28, 2021
Messages
301
add ~75TH from ETHW to that as well

Side note, Ergo hashrate and difficulty are currently (still) skyrocketing. Difficulty just jumped from 6p to ~16P as well.

View attachment 510520
I think we are starting to see some stuff come off now and sort of working towards equilibrium. Most everything has hashrate pulling off now. I figured with my 13¢ power my best bet was to just be off.
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
11,664
Whomp whomp

8 ampere cards and nothing makes actual money against electricity now — aside from future speculation….

1663303082903.png
 

BassTek

Supreme [H]ardness
Joined
Jul 13, 2002
Messages
6,356
Yup, pretty much everything on Whattomine is negative if you pay for power.
 

pclausen

Gawd
Joined
Jan 30, 2008
Messages
696
Yeah, my $30/day on ERG yesterday went to $10 this morning to $8 just now. That's across 28 3000 series GPUs (mostly 3080 and up) and 8 5700XTs. Will probably shut them down this weekend for a well deserved cleaning after running for close to 2 years 24/7.
 

Dreamerbydesign

Supreme [H]ardness
Joined
Feb 3, 2008
Messages
5,758
Judging by all the used GPU's and mining rigs I am seeing for sale, I am guessing profits just arent there anymore for many people in my area.
 

auntjemima

[H]ard DCOTM x2
Joined
Mar 1, 2014
Messages
10,862
Yeah, my $30/day on ERG yesterday went to $10 this morning to $8 just now. That's across 28 3000 series GPUs (mostly 3080 and up) and 8 5700XTs. Will probably shut them down this weekend for a well deserved cleaning after running for close to 2 years 24/7.
So 36 GPUs are getting you $8 a day?

Wow. I remember making $50 a day on eth from 3x 1080ti's a 2070super and a 1070ti.
 

pclausen

Gawd
Joined
Jan 30, 2008
Messages
696
So 36 GPUs are getting you $8 a day?

Yep.

AM_9_14_22_ERGO_2.jpg


2miners_9_14_22_ERGO_2.jpg


Down to $7.16/day now...

Might start shutting them off at night. I need to leave then on during the day, at least around mid-day, because I would otherwise be pushing well over 50,000 watts through the 50 KVA transformer on the pole on the street from my solar inverters, which would likely overheat and kill it.
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
20,302
Got home from vacation. Lokked at what my only card left could do, 3080lhr...

Eth was like 2 bucks worth of btc a day.

Now... like 7 cents a day.
 

pclausen

Gawd
Joined
Jan 30, 2008
Messages
696
Took my rigs offline day before yesterday and just got done cleaning them up and setting them aside for now. They owe me nothing.

IMG_E2079.JPG


All 5 rigs have Delta 2400W PSUs.

Zoomed out view showing the solar inverters that kept them fed:

IMG_E2081.JPG


I'll be building up a serious kWh bank in my account with the poco now. :)
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
11,664
Took my rigs offline day before yesterday and just got done cleaning them up and setting them aside for now. They owe me nothing.

View attachment 511279

All 5 rigs have Delta 2400W PSUs.

Zoomed out view showing the solar inverters that kept them fed:

View attachment 511280

I'll be building up a serious kWh bank in my account with the poco now. :)
Worth more to sell than to mine at current rates? (Even with free electricity?)
 

arnemetis

2[H]4U
Joined
Aug 2, 2004
Messages
4,001
Worth more to sell than to mine at current rates? (Even with free electricity?)
Even with free electricity you are looking at far less than a dollar a day per card, and that requires you to hunt the currently best algo for your specific cards, so you're spending a lot of time tuning each one. Then an hour passes and something else is far better, so you have to change all your settings. Finally this means you need to regularly sell off whatever you were mining for something more stable like btc or fiat if you want to realize that reported probability (or use something like nicehash/2miners.) Outside of hoping whatever you are mining shoots to the moon eventually, it does seem that smart play right now is shutting off your rigs.
 

pclausen

Gawd
Joined
Jan 30, 2008
Messages
696
Once I see if the 4000 series or the new AMD GPUs will offer significant efficiency gains over the 3000 series, I'll decide if I want to sell any of my 3000 GPUs. I'll probably ditch my 3 EVGA hybrids (3080, 3080Ti and 3090) tho.

I am running Awesome Miner, so I could do automatic profit switching, but right now the values AM is showing are wrong, so until things settle a bit, that won't be an option. Also, it will be huge pain to setup pools and clock profiles for all the various coins and individual GPU characteristics. I would probably pick pools that offer automatic conversion to BTC, as I'd rather hold that long term compared to all the fly by night alts. But yeah, I'm going to wait at least a few weeks until difficulty comes down after all the "paycheck to paycheck" guys get their next electric bill. Besides, it will start getting colder by then, and I need to rigs up in the house for heat this winter.

I'm hoping to score some current gen Octominer/minerdude cases on the cheap, before moving things up to the house.
 

bluestang

Gawd
Joined
Dec 14, 2018
Messages
664
Once I see if the 4000 series or the new AMD GPUs will offer significant efficiency gains over the 3000 series, I'll decide if I want to sell any of my 3000 GPUs. I'll probably ditch my 3 EVGA hybrids (3080, 3080Ti and 3090) tho.

I am running Awesome Miner, so I could do automatic profit switching, but right now the values AM is showing are wrong, so until things settle a bit, that won't be an option. Also, it will be huge pain to setup pools and clock profiles for all the various coins and individual GPU characteristics. I would probably pick pools that offer automatic conversion to BTC, as I'd rather hold that long term compared to all the fly by night alts. But yeah, I'm going to wait at least a few weeks until difficulty comes down after all the "paycheck to paycheck" guys get their next electric bill. Besides, it will start getting colder by then, and I need to rigs up in the house for heat this winter.

I'm hoping to score some current gen Octominer/minerdude cases on the cheap, before moving things up to the house.

I'll have to keep an aye out then for one of those 3080ti Hybrids possibly depending on 4000 series and prices on used.
 

pututu

[H]ard DC'er of the Year 2021
Joined
Dec 27, 2015
Messages
2,532
What if AMD changes the title of this post to "Advancing Performance-Per-Watt to Benefit Gamers and Miners", lol.

Too bad ETH cannot be mined now.
 
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