Ethereum mining is hardly worthwhile

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The profit that can currently be achieved via Ethereum’s cryptomining has meanwhile dropped drastically. Miners receive only a fraction of the equivalent of one year ago after deduction of all costs.

With the digging of crypto currency via graphics card, it was easy to make a profit some time ago. But that seems to be over for the time being – at least in the case of Ethereum. Because as has been noted, the current gain that can be earned in mining Ethereum, only a fraction of what was possible just over a year ago. This is the result of the website as part of an experiment with an Nvidia Geforce GTX 1070.

Legitreviews tests in the summer of 2017 showed that the GTX 1070, with no optimization and power costs deducted, could generate a profit of around $ 6 a day – starting at $ 383.43 per one Unit Ethereum, an energy consumption of 135.6 watts and a price of 0.1265 US dollars per KW / h.

Now, a year later, legitimacy reviews repeated the test – and came to a completely different conclusion: If the rate of profit in June 2017 at 1500 percent, it is currently only 117 percent. The pure daily profit amounts accordingly only to 0.50 US dollar.

Although Ethereum has risen in value, the lower profit results from the fact that miners are now farming Ethtereum on a large scale, the effort was thus always greater.

While Ethereum’s yield on the GTX 1070 in 2017 was still 0.01718 units per day, there are currently only a narrow 0.001945 units. For small occasional miners, the effort currently hardly worth – only who has access to significantly cheaper electricity, makes still noticeable profit.

This also fits in with the now significantly cheaper prices on the graphics card market and the increased availability of many models.

image by shutterstock

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