Mining for all, teach you how to earn thousands of yuan a month with idle graphics cards
Editor's Note: This article comes fromBlock beats BlockBeats (ID: BlockBeats), reprinted by Odaily with authorization.
Editor's Note: This article comes from
Block beats BlockBeats (ID: BlockBeats)
Block beats BlockBeats (ID: BlockBeats)
, reprinted by Odaily with authorization.
On the one hand, global semiconductor production has plummeted, and on the other hand, cryptocurrency prices have continued to rise. Production capacity has declined, but rising demand has pushed graphics card prices all the way up.
The main reason for the increase in demand for graphics cards is the skyrocketing price of Ethereum. As Marx said, once there is an appropriate profit, capital becomes daring. If there is 10% profit, it is guaranteed to be used everywhere; if there is 20% profit, it will be active; if there is 50% profit, it will take risks; for 100% profit, it will dare to trample on all human laws.
Not only are desktop graphics cards out of stock, but many laptops equipped with RTX 3080 and RTX 3070 mobile graphics cards have also been sold out by miners. In addition, on the second-hand platform, a large number of individual users and scalpers also participated in this upsurge of buying and selling graphics cards. The used price of some graphics cards produced many years ago even exceeds their original release price.
Today, the profit of graphics card mining has exceeded the imagination of most users. For idle graphics cards, this can be a more than 1000% profitable business, regardless of the cost of the graphics card.
Rhythm BlockBeats will detail the pre-mining preparations, benefits, risks and subsequent impacts from the perspective of users with idle graphics cards.
Preparation
Currently, the mining algorithm used by Ethereum 1.0 is "Ethash", which is a memory-intensive algorithm, and the DAG files generated by mining will be directly stored in the video memory of the graphics card. This means that the video memory of the graphics card needs to be larger than the size of the DAG file when mining.
Currently, DAG files are larger than 4GB. Therefore, mining Ethereum requires a graphics card with at least 5 GB of video memory. Due to the increase of DAG files, the 5G video memory graphics card can no longer perform Ethereum mining under the Win10 system, and needs to be switched to Win7 or a professional mining system. Rhythm lists the graphics cards that ordinary players may currently own and can use for mining:
In order to conduct a more detailed mining test for everyone, this time BlockBeats tested the graphics cards of Yingzhong GTX 1070 Ice Dragon Super Edition and Yeston RX 5700 XT, and the test software was "Easy Miner". General miner software has pumping conditions, so in addition to Easy Miner, you can also choose minerOS, open source miner, PhoenixMiner, Bminer, lolMiner, NBMiner and other software for mining based on your personal preferences.
The reason for choosing a mining pool is that it is almost impossible for a single soldier to dig out results. The purpose of the mining pool is to combine everyone's computing power to work hard together.
Mining profit rate exceeds 1000%
The GTX 1070 is a graphics card based on the Pascal architecture released by Nvidia in 2016. As a graphics card that has been released for nearly 5 years, its default mining power for Ethereum is 25 MH/s, and its power consumption is 122 W.
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GTX 1070 mining details by default
Based on the current difficulty of Ethernet, GTX 1070 can mine 0.001435 ETH per day, and ETH is calculated at 1800 USD, equivalent to a daily output of 16 yuan. At the same time, with 122 W power consumption and 0.5 yuan to calculate the electricity cost, the daily power consumption cost is about 1.5 yuan, and the daily net profit is 14.5 yuan. In the case of negligible graphics card costs, the profit margin exceeds 1000%.
GTX 1070 mining computing power breakdown in the past 24 hours
On a well-known second-hand platform, the price of GTX 1070 is about 2100 yuan. If you buy a second-hand GTX 1070 and use it for mining, under the current difficulty and price, the payback period is about 145 days. Therefore, it is not recommended to purchase purely for mining.
RX 5700 XT is a graphics card based on RDNA 1 architecture launched by AMD in July 2019. Its default mining power for Ethereum is 54MH/s and power consumption is 180W. In this test, by limiting the power consumption, the average daily computing power is about 46 MH/s, and the power consumption is 110W.
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According to the computing power and power consumption after decompression, the 5700 XT can mine 0.00264 ETH per day, which is equivalent to about 30 yuan, the electricity cost is about 1.5 yuan, and the daily net income reaches 28.5 yuan.
risk
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RX 5700 XT mining computing power breakdown in the past 24 hours
On the second-hand platform, the price of 5700 XT also exceeds 5000 yuan, and the payback period is about 170 days, which is longer than the GTX 1070 payback period. Therefore, it is not recommended to buy it for mining, but to make full use of the idle graphics card in hand .
risk
For users with old graphics cards, it will be a good choice to use them for mining. Contrary to what most people understand, Ethereum mining does not damage the graphics card core. Since Ethereum uses the Ethash algorithm, it needs to constantly access video memory. Therefore, the graphics card is used for Ethereum mining, and the most easily damaged hardware is the video memory. However, at present, Huaqiang North has been able to repair and replace the video memory of the graphics card.
Rhythm BlockBeats does not recommend ordinary users to buy graphics cards for mining. Buying a second-hand old graphics card means missing an official aftermarket warranty. At the same time, it will be more difficult to sell again in the future.
Of course, for users who want to buy the latest graphics card but do not want to pay a premium, it may be possible to further reduce the premium through mining.
After July, miners’ income may decrease by 20%
On March 5, EIP-1559 was officially included in the Ethereum "London" hard fork upgrade, and the "London" hard fork is expected to start in July. EIP-1559 attempts to reduce transaction fees by introducing a fixed fee and burn mechanism. According to the miners' speculation, after EIP-1559 is passed, the miners' daily mined Ethereum may decrease by 20%-30%.
According to the actual test of Rhythm BlockBeats, mining transaction rewards account for about 45% of the total mining rewards. Once EIP-1559 is implemented, the impact of mining revenue may not only be 20%.
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At the same time, personal idle graphics cards to participate in mining also need to pay attention to the minimum withdrawal amount of the mining pool. For example, some mining pools need to mine 0.1 ETH before withdrawing coins. Therefore, multiple people can use the same address to mine or choose to enter the trading platform directly. The mining pool of the address is used for mining.
For users with idle graphics cards, using them for mining is not a bad thing for the current frenzied graphics card market and cryptocurrency market. However, if you buy a high-premium graphics card specifically for mining, you may need to perform a more stringent profit and loss calculation.
In the short term, it is still impossible to buy the original price graphics card
Seeing the fiery mining market, Nvidia and AMD also want to participate in this market for a share. Nvidia said that all 30-series high-end graphics cards produced in the future, including the RTX 3060, will be equipped with Ethereum mining restrictions. At the same time, mining-specific graphics cards without video output ports will also be launched. According to the spy photos exposed by VideoCardz, the computing power of the highest specification dedicated mining card is 86 MH/s, and the lowest is 26 MH/s.
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Source: VideoCardz
