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Anyone buying hardware to mine Ethereum is going to lose

By: Anthony Garreffa | Editorials in Video Cards | Posted: Jul 8, 2017 6:35 pm

The Ride Is Nearly Over

 

Revenue is dropping in massive chunks every few days, so while you would've been making a steady amount of money a few weeks ago, that has dropped significantly.

 

anyone-buying-hardware-mine-ethereum-going-lose_08

 

A single graphics card like the Radeon RX 580 or GTX 1070 was making you over $5 per day nearly a month ago, that amount has nearly halved. If you had purchased six new RX 580s for let's say $350 a month ago, you could've been making somewhere in the vicinity of $900 over the month, with the cards paying for themselves in just over two months.

 

 

Not bad, right?! You can see why people wanted to jump right into the deep end with Ethereum mining, with some people spending thousands of dollars, while others spent hundreds of thousands of dollars. There are serious cryptocurrency mines in Russia and China with millions of dollars of investment, churning out more than you could ever wish for at home.

 

The DAG continues to expand with Ethereum mining, and with the drive towards the sky in difficulty, the revenue per day continues to drop. Even for my mining operation here with 60 graphics cards spread across 15 systems, I've seen a 30% drop in the last couple of weeks, but it has nearly halved in the last month. Boo.

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