Yes its profitable but no where near the profitability that we had back in late 2017 early 2018. I remember each of my RX 470 GPUs were pulling in an average of $5/day/gpu and some 1080Ti which were able to dual mine were pulling in $10+ per day per GPU.
Now the RX 470 8GB makes an average of $2.50-$3 or so. Most of it is due to the huge transactions fees for ETH transactions. There were times in the last 24 hours when the average transaction was 500 Gwei, while the average is normally 50 Gwei or so.
So when the hype ends in a day or so the fees will be back down and revenue will be maybe $1.50/gpu/day. While in 2018 if I recall most of the profits were in the miner reward of 5 ETH per block and not much was based on ETH transaction fees.
Either way, profits are as good as they were since middle of 2018 so can't complain.
It was 3 years ago. Change RX470 to RX5700 and 1080ti to 3080 - and you`ll get the same profit. I counted in $ and compared Dec 2017 and Dec 2020. I`ve got close values, about 10% difference. But i upgraded about 70% of my GPU to this day. Now the RX 470 8GB makes an average of $2.50-$3 or so. Most of it is due to the huge transactions fees for ETH transactions. There were times in the last 24 hours when the average transaction was 500 Gwei, while the average is normally 50 Gwei or so.
So when the hype ends in a day or so the fees will be back down and revenue will be maybe $1.50/gpu/day. While in 2018 if I recall most of the profits were in the miner reward of 5 ETH per block and not much was based on ETH transaction fees.
Either way, profits are as good as they were since middle of 2018 so can't complain.
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