GPU mining no longer profitable after Ethereum merge
GPU miners have made good money mining Ethereum in recent years. Now that the second cryptocurrency in the world has switched to a proof of stake concept, GPU mining has become a lot less interesting.
Will there be a large amount of second-hand GPUs on the market soon?
GPU mining, which video cards aren’t really intended for
Video cards are specially designed to be able to quickly perform graphics operations and calculate pixels. As a result, they have many different parallel processors, which makes them very suitable for machine learning and the intensive crypto calculations required for the proof of work algorithm.
Now crypto is in a bit of a mess these days and to make matters worse, energy prices have also risen sharply. That already means that miners are having a hard time. But according to experts, the final blow is dealt, because Ethereum has moved away from the proof of work algorithm. With the illustrious Merge.
Even at electricity prices of only € 0.10 per kilowatt hour, as we are known to pay a lot more in the meantime, with the most suitable video card for GPU mining at the moment, the Radeon RX 6800 XT, only € 0.06 per day can be earned. become. There are still some countries where energy prices are very low, such as Kazakhstan, Ethiopia and Egypt. There you pay up to 4 cents per kilowatt hour. Probably many professional GPU miners will move here
Time to buy video cards for a bargain?
That means that from now on you can only earn Ethereum with other Ethereum, which you use in a mining pool. This makes computationally intensive calculations that GPU mining focuses on less interesting. So expect quite a few bargains of second-hand video cards on Ebay in the near future.
Are you an avid gamer? Do you really want the best of the best? Then this is the chance.
