Topic: GPU Mining profitability is a joke - page 2. (Read 8394 times)

But what is your power consumption per card? I've read in the Claymore's miner topic there is approx 220-270W per GPU?

This means:
ie 250W per GPU and price 0,1 per kWh - 0,6$ for 24h
ie 550h/s on 280X makes 0.69 XMR with DSH mining or 0.6 XMR with XMR mining.

Calculating the prices at the moment that makes: 0.002 - 0.0025 BTC per day. Which at the current prices is around 0.7$.

Am I calculating right?

Totally not going to ROI at this level...

i've missed dashcoin, how much 1 750ti give you per day?

should be about 300k right?

dash is quite profitable despite wallet issues, there is still enough trade volume via polo to move larger amount of coins. my sha miner dont count as thats not switched on, if you look back at my comment i mentioned gpu's and handful of cpu's with 0 mention of sha asic. besides dash provides more btc then most other coins out there. and i havent traded in awhile, havent bought anything in awhile so no btc being made there. just my gpus/cpus working and doing what they do best.

plus if you where really mineing XMR at current difficulty, counting in an aprox hash rate of about 750h/s per 290 and approx 600h/s depending on memory type you should be getting about 24-25khs on that algo, which at current nets 24.18 XMR per day at an exchange rate of  approx 0.07 BTC or 23.68 USD per day. its not great but its still better then nothing and still a good amount of btc to hold onto for tradeing or holding for when BTC decides to return to former glory. also should point out the btc amount per day has dropped somewhat, but it only looks bad due to BTC's poor value atm.....

also if you mined dash, your approx hash rate should net you between 40-46 million dsh per day which trades in at between 28-40 XMR which counting the higher number counts for about 0.111 btc per day.

and my hash rate numbers are approx and taken via the russian xmr miner which does pull 812h/s at 1100/1690 and also at 1100/1500 depending on card type, those results are taken with hynix memory as well and it also only takes 0.7% fee where claymores now takes 2% i believe.

I don't buy this for a second, ive mined everything there is, x11-15, cryptonote, cryptonite,xgm, xpm, renting at a premium, and my power is cheap at 0.11.
If there was some super secret coin no one knows about rental prices would spike.

I've got 35 gpus running mostly 290's and a few 280x, and today I will gross 18 dollars and net maybe 1, you're telling me your 4300% more profitable?

Or are you leaving out the part where you held coins and got lucky with a market pump? Or your power is free.

I recalculate and research everyday. Few weeks ago I was netting 10 with monero, then bcx broke it, then I mined xcn for a while, but the market cant handle my daily dumps, 8000 coins flushes the order book. Small market cap coins wont work for me. Everytime i sold xcn the price went down 20%

Right now the most money to be made is renting x11, dark diff dropped and rental prices doubled. I even spent 50 dollars last week on amazon ec2 trying profitable combinations.

[edit]
I checked your post history and if youre mining dash or sonic screwdriver, those wont work for me, daily volume of 800 dollars with a quick 1 day pump


You also are using an sha256 asic and trading which both don't apply to this discussion

GPU/CPU/MAGIC WAND mining has been dead for the last 6 months. There is no coin which can make you profits when u calculate power costs, depreciation of your hardware, heat, etc. So, the sad truth is sell your rigs and switch to ASIC or even better, switch to cloud mining. This comes from a person who used to own 7 rigs and 23 GPUs.

One of the best cloud mining options is in my signature, ROI is 5-7 weeks, there is NOTHING even close to that in the market. Let me know if you need more help.

you guys must not be looking at the right coins, x4 7950 and x4 280x's and handful of cpus net me currently 0.033 btc a day.

This very problem creates a systemic failure risk for cryptos. All of these altcoins are good at showing this potential when the market crashes. If difficulty jumps up or market value dies, then the network can die from a profitability point of view as miners back off and block rates plummet. The recovery point is a kind of hard reset where the P2P nature drives a consensus on difficulty correction. Once the margin is low, only high-volume, low margin providers can compete in power efficient hashing. Basically, if a chip producer thinks there is any ROI in mining, why sell any chips at all?

Anyway on the profitability side, you should consider energy consumption with respect to heating since winter is rolling in. The thermal efficiency of a heat pump is proportional to the outdoor air temp, and can be 3x efficiency down to 1.1x, or if you don't have a heat pump or gas, then the mining waste heat directly offsets my heating costs. The power is not free but it appears that way on the books, so I'm basically leasing 500W of GPU power at-cost, which can be $30/m.

During the doge burst last year i managed to make enough money to turn one gpu rig into 7 with 5 290's each. pure profit. I've taken about 7,000 in cash since. Today I will make about 4 dollars.

There was 0.25-0.4 btc days until gox blew up, it will happen again when new people discover bitcoin and pump the prices.

Those were my thoughts aswell. Because looking throo the forums, all people moaning about non-profitable mining should look at the bigger picture, not just at super profitable times. Sure they came and probably will come again, because I belive GPU/CPU mining is still the most important and it "recruits" much more people into mining, either with 1 GPU or 100 GPUs.

The only problem I see is that there are so many coins out there and people are jumping from one to another, when in times like these we should look for "diamonds" in this mass of coins and secure their networks together. In the long run this should pay of the most, as these coins would become more diversified and thus rare to obtain.

I am only saying this because I still remember when everyone mostly mined LTC and it had the biggest network hashrate just by mining with GPUs. Now all this GPU power is pointed at multiple coins, while we should concentrate it only at one, mostly two.

It has always been low income. The bottom idea was to cover costs and buy you a couple of beers per week max. It's sad we don't even get there.

The "get mining get rich" mindset was born because of the guys CPU-mining BTC when a pizza was worth 10kBTC, or GPU-mining them when they were 1$ each. Those guys were doing the right thing at the right time, not exactly obvious!

I still have a 5770 hashing away in one of my old rigs, cards been hashing for almost 2 years for me.

Some days are profitable, some aren't.

I've switched over to MiningRigRentals and am still keeping my head above water, barely. But that means making maybe $4/day with four 290X GPU's, whereas my electrical cost is slightly less than that. So, no, I wouldn't recommend investing anything in a new GPU rig at this point unless it offered really dramatic performance/watt improvements and you could live with a long ROI. Better to just plug the money into investing in BTC and your favorite altcoins.

I turned off my rig a few months ago, due to no profitability.
But what about new nvidia graphics? Gtx 970 or 980... Is it worth buying it or they will never ROI? I have about 3.5BTC that I got from previous mining (280x+270) so this it the most that I am willing to put back in mining.

Are there any old GPU miners still here?
I am wondering if mining was always profitable (even maybe a few %) or was it always like this, when you can only pay electricity with it, between the BTC bubbles?

Because maybe the ones who mined between the bubbles made the most?

I agree that Leaserig needs more advertising to drive traffic to it. There's been one guy the past two weeks who has done probably 90% of what little leasing there is on X11/13/15, keeping a couple of us afloat. I've mostly been on X11, but I watch the profitability numbers at yaamp.com and dodge over to X13 or X15 on occasion. I'm the only one showing up now on X13 or X15 on those occasions on Leaserig. I figure that should help in case anyone does go there looking for a rental on those algorithms, as I try to keep my rates down.

Litecoin devs already denied change to any other algorithm and with rising network difficulty , huge investments in Asics, I don't see any reason for them to change to new algo . LTC devs hoped that Asics will have same affect on LTC price as that happened with BTC, but on the contrary  things are going in opposite direction. Let the Asic dust settle and then LTC price may be stable.

it's refreshing to find people with an exit strategy.  too many people are showing up as mining bagholders on the forums these days.

leaserig lost the advantage in number of mining rigs 1-2 months ago; mining rig rentals have more selection these days, and i think them and nicehash have more customer traffic.  when it was doing well, it was hard to beat leaserig. I remember even before LR was bought out the rigs were accountable by deposit, and i felt the owners were selective.  the more difficult it was to list a rig, the more they'd be pushing rigs to other sites.  i think places other sites which were less selected became much easier to list equipment, and that's where both renters and owners ended up. the main problem is whether people see the rigs at all.  i don't think LR is getting the traffic it was in june.

in the past month, the x13 rigs have all disappeared;  i was one of the last x13 rigs on leaserig, and ended up being rented at 0.0008/mh, but maybe once a week for a day or two.  

x15 dried up almost as soon as it started; maybe a week or two of profitability back in july.  

x11 is the way to go right now, but even that return is abysmal.  there's no point fighting for the bottom price anymore.  i think LR is great still for scrypt if you got batch 2-5 equipment.  still good for SHA-256 for getwork.  but for most GPU folks it's not only the power that costs, but managing rigs takes time.  

I have the similar experience. If you pay over $0.05/kWh, it is not profitable.

I dismantled and sold my gpu rigs 6 months ago, it was bad enough to make profit then but now I believe its even harder.

The only way I made a half decent return towards the end was to mine every new scrypt, x11, x13 or x15 coin immediately from launch hoping they might be worth something.

I would then sell as soon as they hit the first decent exchange as it seems most are worth more in the first few hours of hitting an exchange.

Problem with doing that is you spend a lot of time monitoring the forums and waiting on new coin launches, some of which had me waiting up all night and then turning into failed / re-launches. Some days I would go to work after only a couple of hours sleep, which is crazy.

The only positive thing about gpu mining is that I bought all my cards second hand and sold them on for similar money so hardware depreciation was minimal.

Now I have half dozen s1's split between 2 pools mining away in a spare room, they aren't making any money but they're keeping the chill off that room and drying our clothes. They mine about 0.02 - 0.03 btc a day depending on pool luck so just about covers the electric.

So I'm still in the mining game purely as a hobby but it doesn't rule my life anymore, I'm way past that, it just isn't worth it anymore.