Antminer ethereum fpga mining rig for sale

When profitability gets low, gamers stop mining and casual miners sell their GPUs to gamers. Which means when the going gets tough, things get easier for the GPU miners that stick with it, because a lot of the competition simply goes away. Things get even worse when you look at the effect this has on the secondary market.

If income no longer exceeds the cost in electricity, your ASIC is worthless to you, at least. Resale value rapidly approaches zero as the ASIC approaches unprofitability. For people now in your situation, at least. But it gets even worse! A subtle factor in this equation is that everyone pays a different price for electricity. They have the pick of the litter so you will get pennies on the dollar. But something is better than nothing.

So the vast majority will still resell their ASICs to someone with cheaper electricity instead of throwing them in the garbage or leaving them on the shelf, which means those ASICs effectively never get turned off, they just get moved around. The rate of growth barely even slows down when the market crashes.

Short of a natural disaster that wipes out tons of miners at once, hashrate never goes down. Note: In May , China banned mining. So these black swan events do happen from time to time. This equipment is rapidly being relocated elsewhere, as demonstrated by the even more rapid rise of hashrate after the drop. So this is just a short term pause that will have little net effect on the inexorable rise of hashrate. The only way your profitability ever rises above where it was on day 1 is if the market price of bitcoin increases — but then you have to ask yourself why you bought an ASIC and not just bitcoin itself.

But more importantly, how much did your hardware depreciate in value over that year? Because that is the true measure of how much the hardware cost to own — and your ASIC is going to be worth significantly less if worth anything at all, and the GPU and all of the associated parts in the rig will be worth at least half or more of what you paid for them. Overall, GPUs are a little more expensive upfront but cost less to own over time.

With crypto being such a volatile market, we can hope for the best, but still need to prepare for the worst. What happens to GPU mining when the market crashes to the point where mining is barely profitable? From Mid-September to November, difficulty was flat.

As the market bubbled over in Dec-Jan, there was a huge influx of GPUs as profitability was through the roof. As the market continued to slide down through March, it pretty much flatlined again. In May we saw a momentary recovery, and a corresponding bump in growth, but nothing dramatic. However, the real story is in the profitability charts. December sure was a great month, but the May bump is barely perceptible.

Profitability went from a miserable 0. Profitability more than doubled in the same time period that Bitcoin barely edged upwards. This was because at this point, so many had given up on GPU mining, leaving those who stuck with it to reap all of the rewards. Whereas with ASICs, profitability is down to roughly half of what it was in April, with no end to the decline in sight. Note: I have left the original charts from intact, as the latest drop in May was unlike the early crash in that GPUs and ASICs still remain extremely profitable right after the crash, especially due to the China ban.

They are not flexible, period. Sure, there are ASICs that can mine more than one algorithm, or more than one coin, but at the end of the day, all they will ever be able to do is the only thing they were specifically made to do. You run your GPUs, and you get Bitcoin in return. Let that one sink in. The bare minimum an ASIC, a bitcoin mining device, should be able to do is mine Bitcoin better than anything else, and when it comes down to it, it gets beaten at its own game.

GPUs might as well just drop the mic and walk away. This flexibility to mine any altcoin and trade it for any other coin protects you now and in the future. You mine ERGO. You rent out your hardware for rendering, for AI, for data analysis, and for a whole host of other things that the world will come up with to put those GPUs to use. And at the end of the day, when your GPU is no longer useful to mine, or if you decide you want to get out of mining altogether — this flexibility is still your best friend.

And there are literally hundreds of millions of gamers out there. They outnumber miners by a ridiculous proportion, so the market can absorb tons of them without devaluing them to worthlessness. Forget about credit cards or PayPal or most other typical ways of paying over the internet. Even worse, the manufacturer only barely stands behind their product — warranties are typically days. And enjoy dealing with international shipments if you ever need service.

Worst of all, if you were planning on putting the ASIC anywhere within earshot of a human or arms-reach of a child, let me stop you right there. These things are hot, loud, and dangerous. The first time you hear one you will stand in awe of how such a little machine could possibly be so loud. And the fans on these things will cut off a finger without even slowing down. Anyone with a toddler knows they have an irresistible urge to touch everything, and an ASIC will be the last thing those little hands ever touch.

But standing in a well-ventilated room full of GPUs? Bitcoin price, naturally, impacts all miners. However, there are three factors that separate profitable miners from the rest: cheap electricity, low cost and efficient hardware and a good mining pool. These days there are several hardware manufacturers to choose from. The price of hardware varies from manufacturer to manufacturer and depends largely on how low the energy use is for the machine vs the amount of computing power it produces.

The more computing power, the more bitcoin you will mine. The lower the energy consumption the lower your monthly costs. Longevity is determined by the production quality of the machine. It makes no sense to buy cheaper or seemingly more efficient machines if they break down after a few months of running. Bitcoin Mining Hardware Turnoff Prices One useful way to think about hardware is to consider what price BTC would have to fall to in order for the machines to stop being profitable.

You want your machine to stay profitable for several years in order for you to earn more bitcoin from mining than you could have got by simply buying the cryptocurrency itself. The Bitmain S9 has been operational since and interestingly enough they are still being used in Venezuela and Iran where electricity is so cheap that it outweighs the risk of confiscation.

There may, eventually, be more reputable sources of sub 2 cents electricity as the access to solar and wind improves in North America. For the individual miner, the only hope of competing with operations that have access to such cheap electricity is to send your machines to those farms themselves. Not many farms offer this as a service though.

Cheap Electricity Electricity prices vary from country to country. Many countries also charge a lower price for industrial electricity in order to encourage economic growth. This means that a mining farm in Russia will pay half as much for the electricity you would mining at home in the USA. If you can capture that energy, it is quite cheap. Still, if you are mining out of your home, you will definitely lose money. Reliable Mining Pool These days, every miner needs to mine through a mining pool.

Whether you are mining with one machine, or several thousand, the network of Bitcoin mining machines is so large that your chances of regularly finding a block and therefore earning the block reward and transaction fees is very low. With one block per 10 mins they may have to wait 16 years to mine that one block. Pool fees are normally 2. Choosing the right mining pool is very important, as you will receive your mined bitcoin sent from the pool payouts every day.

Fees When Selling Bitcoin An often overlooked facet of mining profitability is the fees one pays to sell the Bitcoin one mines. If you are a small time miner, you may have to sell your coins on a retail exchange like Kraken or Binance. Sometimes your fees are low but sometimes your fees are high - it really just depends on the fee structure of the exchange and the state of the orderbook at the moment.

Kraken's trading fee structure However, if you are a professional miner like F2 or Bitmain, you likely have really advantageous deals with OTC desks to sell your coins at little to no fees - depending on the state of the market. Some miners are even paid above spot price for their coins.

If you think you have what it takes be mine profitably, we suggest you make sure first by using our mining profitability calculator. Bitcoin farms that operate at scale use these advantages to maximize their returns. As the difficulty of mining bitcoin increases, and the price lags behind, it is becoming harder and harder for small miners to make a profit.

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