Ethereum Mining – What A Difference One Year Can Make
Have you mined any cryptocurrencies over the past year? Last year on this very day we published an article about mining Ethereum on the NVIDIA Geforce GTX 1070 graphics card. Just running a miner with no optimizations to the card we were making roughly $6 per day of profit after electric costs. That caused graphics cards to fly off store shelves as a $300 graphics card could be paid off in less than two months! Mining on your desktop gaming graphics card was insanely profitable last year, but what about today?
We went back to the same calculator this morning, plugged in the same data and the profit per day is right around $0.50. It’s still profitable to mine Ether, but not nearly as much as it once was. There aren’t too many gamers that we know that are willing to want to run their graphics card at 100% memory load 24/7 to get under $20 a month in profit. It’s better than nothing, but right now those that are running big mining farms have access to really cheap electric. Right now it looks like the power companies are making the most profit. Rising Ethereum difficulties and electric costs are goign to keep small time miners away!