CryptoCurrency Mining with GPUs *spawn*

This post is aging like fine wine, I feel.

 

I have continued selling more Vega 56's since my last post #1233:

https://forum.beyond3d.com/threads/cryptocurrency-mining-with-gpus-spawn.60139/page-62#post-2208586

I sold two more working ones for $710 and $715 and a dead one for $225.

The last sale was on June 17th and since then the price of ETH has dropped to a low of $2088 today from $2452. It has since recovered to $2256. Because of the price ETH drop and more skepticism about mining ETH going forward the prices of Vega 56's on eBay are dropping.

I currently have one for sale for $690 on eBay. It has six watchers and over 18,300 views as of now so hopefully it will sell soon.

Edit: Because of the Ethereum price crash 6/21 I had to reduce the price to $675 which it sold for.

As of June 6, the total future ETH mined per 100MH/s is 0.265 ETH modeled

Edit 6/21 Ethereum price: So the 47 MH/s should produce a total 0.12455 ETH and at today's price of $1949 be would be worth $243.

 

How did you sell a dead card for that much!

 

You can see on eBay that Vega 56's listed "AS-IS, For Parts or Repair, No Returns" have recently sold for over $200.

https://www.ebay.com/sch/i.html?_fr...mCondition=7000&rt=nc&LH_Sold=1&LH_Complete=1

One even sold for $349 as recently as June 3rd.

The only reason I think someone would pay that much for dead card is that they think maybe they could fix it.

I clearly stated in my auction that it was being sold AS-IS for parts or repair only with no returns accepted and that the card powers on and the fan spins but that it causes a fatal error when the miner boots up with the card installed.

Whats really funny is that you could have purchased working Vega 56's for $125 with free shipping just a year ago.

Edit: What is also funny is that I just noticed that the dead one I sold on eBay was re-sold by the buyer for $245 on eBay today to someone else.

 

Usually a broken gpu (weird artifacts, etc) can be fixed by reball ing it. Maybe he/she was betting rebaling will fix it?

 

Taking that 860 MH/s and using 2000 watts of power at the wall (90% efficient power supply plus fans, processor(s), memory and motherboard power) with a guess of 8.5c per KWh and pool donation of 0.5% for Flexpool results in a daily profit of $56.66 even at today's depressed Ethereum's price.

https://www.cryptocompare.com/mining/calculator/eth?HashingPower=860&HashingUnit=MH/s&PowerConsumption=2000&CostPerkWh=0.085&MiningPoolFee=0.5

and the monthly profit is $1700

 

I think the cost of the DGX Station 320GB is something like US$150K? You'll need 100 months just to get the money back

 

Quite unlikely if it is a Vega GPU, 99% of the time the reason of its untimely demise'd be cracked interposer (some people really like to add an extra turn of the screws while mounting the heatsink)

 

Chinese miners starting to dump their GPUs after the latest crackdown:

https://www.extremetech.com/gaming/...n-china-following-government-mining-crackdown


Hopefully this extends to the rest of the world.

 

Some of the groups are just relocating from what I understand.

 

In a first, Sotheby’s will accept cryptocurrencies for rare pear-shaped diamond expected to fetch $15m - News Break

 

did not happen yet in indonesia. im eyeing for a used RTX 3090, it'll be glorious for ML stuff

 

This is with A100 40GB

 

just want this to end. A colleague of mine got a 6700XT GPU at 699€ yesterday, for gaming, which is expensive enough but good at these fateful times, yet hours later the same store increased the price to 850€. Dunno whether mining has to do with it, but it's tiresome.

Not that I am in a hurry, but I want to buy a new GPU in the next few months. While I am currently undecided, and I dont mind the brand as long as nVidia, AMD or Intel build the most efficient (power consumption wise) GPU for 1440p gaming at 60 and more fps.

 

Since June 8th I have been selling off my Vega 56's because of the inflated price of them, EIP 1559 coming in July and the end of ETH mining near the end of 2021 early 2022.

I have now sold six of the seven on eBay (5 working, 1 dead) and cleared $3226.92 after all eBay fees, shipping and insurance costs. These original seven cost me $3013.73 in 2018 so I now have a profit of $213.19 on them.

The last one I am keeping for now as it has the best hash rate of 49.3 MH/s and is basically free. I will mine on it until the end unless something else drastic happens before then.

The last Vega 56 I sold I cleared $573.13 and I should hopefully mine a profit of $75 a month going forward on the one I am keeping. I believe that mining should last at least 6 more months so $573.13 - $450 (6x $75) = $123.13 or about what Vega 56's were selling for last year. If mining goes on longer then that is a plus.

I have mined 1.3 ETH since 3/1/2021. Total deposited in my Bank account $2817.80 and currently have an unpaid balance of 0.067825 ETH on Flexpool or about $130 USD in value.

Not bad for what were basically useless GPU's just twelve months ago.

 

Ethereum total hash rate came down from its ATH in 5/20 at 643GH/s to 492GH/s now (6/23). That's a decrease of nearly 24%, but not as much as one'd expect from the "Chinese crackdown," which seems to indicate that either the majority of ETH miners are not in China, or they are mostly smaller miners which aren't affected as much by the crackdown.
Bitcoin hash rate, on the other hand, decreased by more than 50% from its ATH. There are relatively few small BTC miners, so it's possible the crackdown affects them more.

 

Ethereum's Global Hash Rate is now at 437.56 TH/s which is down from the ATH of 585.56 TH/s on 5/20/2021. That is a reduction of 148 TH/s or 25.3%.
https://bitinfocharts.com/comparison/ethereum-hashrate.html#3m

Ethereum's Difficulty is now at 5.5756P which is down from the ATH of 7.2537P on 5/20/2021. That is a reduction of 1.6781P or 23.1%.
https://bitinfocharts.com/comparison/ethereum-difficulty.html#3m

 

I have sold the last of my Vega 56's and am done mining Ethereum.

I have mined 1.385 ETH since 3/1/2021. Total deposited in my Bank account $2990.47.

Date Mined Quantity Sold Value of Sold ETH
--------------- ------------------ -------------------------
3/01/2021 0.2 ETH $295.88
3/10/2021 0.2 ETH $353.47
3/26/2021 0.2 ETH $329.38
4/14/2021 0.2 ETH $467.58
5/04/2021 0.2 ETH $679.01
5/24/2021 0.2 ETH $445.85
6/08/2021 0.1 ETH $246.63
6/28/2021 0.075 ETH $150.77
7/05/2021 0.01 ETH $21.90

Since June 8th I have been selling off my Vega 56's because of the inflated price of them, EIP 1559 coming in July and the end of Ethereum mining near the end of 2021.

I have sold all seven on eBay (6 working, 1 dead) and cleared $3773.57 after all eBay fees, shipping and insurance costs. The seven cost me $3013.73 in 2018 so I actually made a profit of $759.84 on them.

My original investment in hardware in 2018 was costly and the seven Vega 56's I had from that time were only worth about cleared $693 as of mid 2020. So selling the seven of them for $3773.57 and making $2990.47 mining on them feels very good.

Not bad for what were basically useless GPU's just twelve months ago

Having experienced the long crypto winter from 2018 until early 2021 is something I never want to experience again.

I am now also selling off other mining hardware that I acquired and no longer need. I bought a lot of mining stuff in the crypto winter time frame for basically pennies and they are now worth a lot more.

I have recently sold three of these "ASRock H110 Pro BTC+ LGA 1151 13x GPU Motherboard with Celeron G3930/G3920 & 4GB DDR4" on eBay and cleared $778.95. These only cost me $200.08 so I have made a profit of $578.87 on these also.