Question for GPU miners

[Loki0111]

First I apologies for my ignorance on this topic. While I am aware of what mining is I've never had any actual interest in it.

 

My question is how much is your typical home miner setup making per month with available hardware right now? Say 1 machine with 2-4 GPU's.

 

A lot people people are suggesting this is a big reason for the spike in GPU demand and I am genuinely curious if there is any real truth to that.

 

Thanks

[Rym]

This is an interesting one, since when I checked how much I could make with my 970 the profit was like 20$ a month. And a 3080 brings in like 100$~, and that's with way too many hours spent mining.

[Loki0111]

5 minutes ago, Rym said:

This is an interesting one, since when I checked how much I could make with my 970 the profit was like 20$ a month. And a 3080 brings in like 100$~, and that's with way too many hours spent mining.

Interesting, so it sounds like a modern high end GPU minus the electricity costs probably generates around $90ish a month?

 

I can sort of understand the appeal for a home user doing it with their GPU's during idle time in that case since that is effectively generating a bit of extra cash from a GPU purchase for gaming. I have no idea why people would buy these GPU's new and dedicate them to mining at that low a return. Given the current costs for the latest GPU's it would take at least a year for a GPU to just pay for itself in that situation.

[jaslion]

3 minutes ago, Loki0111 said:

Interesting, so it sounds like a modern high end GPU minus the electricity costs probably generates around $90ish a month?

 

I can sort of understand the appeal for a home user doing it with their GPU's during idle time in that case since that is effectively generating a bit of extra cash from a GPU purchase for gaming. I have no idea why people would buy these GPU's new and dedicate them to mining at that low a return. Given the current costs for the latest GPU's it would take at least a year for a GPU to just pay for itself in that situation.

Well you have to keep in consideration that these cards will be sold again. So basically they are bought at at worst msrp due to the order size and then used for mining in a place where electricity is as cheap as possible. Then sold later. That and well nobody has access to the cards so if miners keep buying them the coins stay high as the miners have the best hardware

[tikker]

1 hour ago, Loki0111 said:

Interesting, so it sounds like a modern high end GPU minus the electricity costs probably generates around $90ish a month?

You can check profitability on sites like whattomine.com. It completely depends on the market.

1 hour ago, Loki0111 said:

I have no idea why people would buy these GPU's new and dedicate them to mining at that low a return. Given the current costs for the latest GPU's it would take at least a year for a GPU to just pay for itself in that situation.

Because the big cryptos have a tendency to go up in value over the long term and every now and then a smaller altcoin suddenly gains in popularity and shows massive gains as well. Naturally for maximum profit you want the most powerful hardware.

[Mick Naughty]

I’d say the average with my friends is 12-16. Then there’s the other half of the group who have 90-150. 
So people making 150 a week or 400 a day. 
But only the larger farmers are getting new hardware though we have some good buy in options right now. 
 

But with 4 old cards, 1080ti, $20 a day. 

 

[Heliian]

3 hours ago, Loki0111 said:

First I apologies for my ignorance on this topic. While I am aware of what mining is I've never had any actual interest in it.

 

My question is how much is your typical home miner setup making per month with available hardware right now? Say 1 machine with 2-4 GPU's.

 

A lot people people are suggesting this is a big reason for the spike in GPU demand and I am genuinely curious if there is any real truth to that.

 

Thanks

Go on Kijiji and search "rtx".  People are trying to unload garbage for gold.  

That's where all the GPUs are.  I guess they can't make money with multicard setups and are trying to cut losses.  But everyone says mining is the best!  Pyramid scheme at its finest. 

 

 

[Mick Naughty]

Also have to remember, most of the people doing it lately or complaining about it, are just really late. Getting into it now isnt as worth it as starting 3-4 years ago. Even 2 years ago at this point. Before the after the 2xxx series launch 10 series cards were more and more available. That would have been the time to start late. Everything you bought would have paid it self off over 3-4 times already. 

 

I can sell a few of my cards, buy a 3080 and almost match the hash rate and use less power. Making it very profitable. Alot of people just are ignorant to investment. Not playing the stock market and such. But if you invested, 12k in in 2018, you could have 200k today. Thats with making a farm or the easy route and just bought coin, that way people cant cry about wasting power. Boils down to the same thing.

[airborne spoon]

I have 6x RX570 and 1x RX5700XT it makes me about $14/day. And i have free power so that is convenient.

I'd like to upgrade to more cards but the price is so high now its not worth it. I bought my 570's at like $200/ea they are like $500-600 now and that is crazy. If i could find some 5700xt's for a good price id prob grab them and upgrade but for now i'm just rolling with what i have. I mean i got my 5700xt for $400 they go for over $1000 now its bullshit.

[Mark Kaine]

23 hours ago, Loki0111 said:

First I apologies for my ignorance on this topic. While I am aware of what mining is I've never had any actual interest in it.

 

My question is how much is your typical home miner setup making per month with available hardware right now? Say 1 machine with 2-4 GPU's.

 

A lot people people are suggesting this is a big reason for the spike in GPU demand and I am genuinely curious if there is any real truth to that.

 

Thanks

yes but the miners that matter aren't going to post on a forum like this... they have tens of thousands of gpus running in their 'farms' not 1-4...

 

your average gamer that mines with their gaming rig or even mining rig doesn't even make a dent in availability, nvidia / amd produce millions of gpus, it literally doesn't matter, same for 'scalpers'.