Are you selling your GPUs before ETH merge (proof of stake switch (9-15-22)

Archaea

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I watched this video by Red Panda Mining today and I don't think I realized just how much the ETH change would affect GPU mining.

ETH daily payouts are 10X what the other popular GPU coins are COMBINED.
~24 million vs. ~2.5 million USD.

If we are expecting that extra ~ $22 million to distribute over the other proof of work GPU minable coins, that's a pipe dream.

Debating on just waiting and seeing the fallout, or putting my 8 Nvidia Ampere cards of Facebook marketplace this week. Six months ago I thought this would be a false start like every other Ethereum Proof Of Stake attempt before it, but looks like it's happening.

What do you think?


1662475874640.png
 

motqalden

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Those numbers only tell part of the story.
Once other coins get higher hash rate they will likely trend higher as their network strength grows. I have been gpu mining since 2017 and eth has only been the most profitable coin for less than half that time and i have mined many other coins. Do I expect a huge hit to profits? Probably initially but I expect things to trend up and new coins to take the stage.

Should you sell? Well if you were going to then 4 -5 months ago would have been the time. Also please do as this will just mean lower difficulty for those that dont.

You never know when the next big mining uptick happens and if you have no gear you get hosed buying overpriced gear (if you can even find it).

Mind you if profits go below power costs i will just point my cards to some DC projects for awhile.
 

applegrcoug

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Oh, I have thought about this too. I don't see how those other coins can absorb that much computing power in the current structure. Most likely is only those that have the most efficient hardware combined with the cheapest power are going to be able to continue.

At this point, I am just going to ride it out and see what happens. I have a three 3080s and two 3090s I put in full cover waterblocks (Side note, great way to manage VRAM temps). I am in the process of figuring out how to put some in water cooled rigs at home for my families gaming rigs. I have never done a REAL loop in a case.

The biggest problem I foresee is when I build my son his machine, I just used an old case from probably 2010 from work that I rescued out of the scrap bin. I mean it has worked so far, but can only handle a GPU maybe 10in long, has no spots for a radiator, etc. Problem is, he is wed to that case. Every attempt to change it or something and he won't have it. Wish I could find a minecraft themed case or something.

Time will tell. I may just be one of those people with a nice collection of cards and giving upgrades to family members. I don't know.
 

Andrew_Carr

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Nope, I think the time to sell was 6 months ago and made a conscious decision to just keep my GPUs and keep mining whatever. I sold all my older GPUs while they were still worth something but have held on to my 3xxx and 6xxx series cards. There's a few reasons why:
-who knows if I'll time the market correctly (like motqalden said)
-next gen nvidia doesn't appear to be any better (LHR hacks won't work when your memory bus is limited, and they don't seem like they're making huge efficiency strides either). AMD might be amazing next gen but not sure, and could be much later until the better GPUs are out.
-Taiwan situation / fab drama. Anything that threatens yields could mean prices for next gen stuff will be high / availability could continue to be an issue.
-Europeans are priced out of mining, China, Russia, etc. keep cracking down on crypto. This seems like a good scenario for setting a new baseline on power costs based around American/South American costs.
-I just got everything organized and don't want to rip it all apart

I have pretty low power costs so I expect after the ETH merge I'll be borderline profitable or may have to shutdown for awhile, but long-term I'm not too worried.
 

pclausen

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I sold 8 of my 16 5700XTs about 4 months ago for around the same I paid for them back in the fall of 2020. They ROI'ed at least twice during that period.

Keeping all my 3000 cards (1x 3060, 3 x 3060Ti, 4x 3070, 2x 3070Ti, 7x 3080, 6x 3080Ti and 4x 3090). I think it will be rough for a while, with little to no profits, but during that period of low difficulty, you can potentially mine a lot of coin that will become a lot more valuable down the road. I mined all through 2018 and 2019 and that paid of really well.

Also, I'm fortunate that my mining power consumption is 100% covered by solar. Here's my solar production over the last 30 days:

monthly_production.jpg


And here's the consumption (shop feeder is mining rigs):

site_consumption.jpg


If anything, I'll be picking up more cards if they get really cheap after 9/15. Based on another recent video by RPM, I might look at 6700XTs instead of just 3000s. Agree that the 4000s likely won't offer much to miners over the 3000s.
 

xenium

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-next gen nvidia doesn't appear to be any better (LHR hacks won't work when your memory bus is limited, and they don't seem like they're making huge efficiency strides either). AMD might be amazing next gen but not sure, and could be much later until the better GPUs are out.
Aside from the (likely) gimped bus widths, 4000 series is shipping with a new LHR variant. Who knows if/when it will be cracked.

-I just got everything organized and don't want to rip it all apart

This is such a big driving factor at scale. Buying cards and building rigs is easy. Tearing them down, doing inventory, cleaning, testing, and selling everything is a huge pain in the ass.
 

atp1916

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Definitely keeping everything in place for now. 8 boxes, 8 cards each - all 3060 Ti / 70 Ti / 80s - will stay in form.

Spent way too much effort getting the CMG plates installed on the 3070 Ti / 3080s to to even think about it :LOL:
 

Archaea

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Wow.

It happened

From $15 a day yesterday to .06 cents a day this morning after ETH switched Proof of Stake.

Prepare for the biggest eBay used GPU deluge EVER seen.
 

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DPI

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Are you selling your GPUs​


Newp. Will be buying more if anything. Then selling again after 4000-series drives 3000 prices back up.

There's nothing more predictable than the herd's behavior in these GPU and crypto cycles. Doing the opposite will allow many dollars to flow into your bank account accordingly.
 
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MrGuvernment

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Wow.

It happened

From $15 a day yesterday to .06 cents a day this morning after ETH switched Proof of Stake.

Prepare for the biggest eBay used GPU deluge EVER seen.
Goinmg to take time for people to shift to another token that they find will be profitable. problems is ETC wont be, so ya you will get many people trying to sell their gear now, because they just lost 90% of the profit they were making and now are likely going to lose money.
 

Mloot

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I sold one of my 6 cards, two more will go to upgrade my sons' pcs, and the other 3 I will keep to do some spec mining.
 

Zedicus

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Nope, I think the time to sell was 6 months ago and made a conscious decision to just keep my GPUs and keep mining whatever. I sold all my older GPUs while they were still worth something...
this.

5700xt cards hash at a better efficiency than even shunt modded a2000 cards. i only have 10 cards left mining and i am right at break even on ETC as long as the ETC network hash stays under 200TH. but even if it is a little over i don't plan on shutting down.

i do wish ETHpoW would hurry up and die though.
 

xenium

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this.

5700xt cards hash at a better efficiency than even shunt modded a2000 cards. i only have 10 cards left mining and i am right at break even on ETC as long as the ETC network hash stays under 200TH. but even if it is a little over i don't plan on shutting down.

i do wish ETHpoW would hurry up and die though.
I mean Im not going to argue that anyone should (or should've) bought A2000's strictly for mining, but they're one of the most efficient ethash cards out there. Much more than 5700xt's. A2000's are ~43mh/70w. 5700's are 110w (samsung) or 120w (micron) for ~55mh/s.

A2000's are also at least somewhat decent at ergo, better than 5700xt's in raw hashrate and efficiency. Their downfall is their PL, and they're mediocre at best at progpow, and other algo's that require more compute power that will easily hit their 70w power limit.

You should probably double check your power draw at the wall. You have to ignore AMD reported software readings, they're hilariously inaccurate. I had an asus 5700 that reported ~60w at 55-56mh/s. They all pull 110-120w depending on mem type (TRM R mode, mining Etc/Ethash, of course).
 

Zedicus

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I mean Im not going to argue that anyone should (or should've) bought A2000's strictly for mining, but they're one of the most efficient ethash cards out there. Much more than 5700xt's. A2000's are ~43mh/70w. 5700's are 110w (samsung) or 120w (micron) for ~55mh/s.

A2000's are also at least somewhat decent at ergo, better than 5700xt's in raw hashrate and efficiency. Their downfall is their PL, and they're mediocre at best at progpow, and other algo's that require more compute power that will easily hit their 70w power limit.

You should probably double check your power draw at the wall. You have to ignore AMD reported software readings, they're hilariously inaccurate. I had an asus 5700 that reported ~60w at 55-56mh/s. They all pull 110-120w depending on mem type (TRM R mode, mining Etc/Ethash, of course).
Im running 4x 5700xt and the total rig is under 580 watt. But none of the rig is really built for efficiency, it was all price at the time of purchase. Even the cpu fan is a 2500rpm LED fan. Are A2000s better. Sure. By enough for me to care. Nah.
 

xenium

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Im running 4x 5700xt and the total rig is under 580 watt. But none of the rig is really built for efficiency, it was all price at the time of purchase. Even the cpu fan is a 2500rpm LED fan. Are A2000s better. Sure. By enough for me to care. Nah.
That was my only point really, just correcting you that A2000's are in fact more efficient than any navi10 (or navi20) card. ~130w per card (from your rig) for say 56mh/s, or 2.32w per MH. A2000's are ~43mh/70w or 1.63w per MH.

Fwiw you can shave off another 10-20w per card if you aren't already running TRM in R mode.
 

Zedicus

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That was my only point really, just correcting you that A2000's are in fact more efficient than any navi10 (or navi20) card. ~130w per card (from your rig) for say 56mh/s, or 2.32w per MH. A2000's are ~43mh/70w or 1.63w per MH.

Fwiw you can shave off another 10-20w per card if you aren't already running TRM in R mode.
the ghetto rig that is running these bleeds a LOT of wattage for the remainder of the crap components attached to it. and i have to use a PCIE expander in a very specific PCIE slot to get R mode to work because the BIOS on this ghetto turd does not allow me to configure PCIE generation and when it is mixed TRM throws errors. So then i loose more wattage to the PCIE expander and that negates the switch to R mode on this box. what i have measured on this one is the cards seem to run between 115w to 120w and the other parts of the rig consume the rest. so i would have to really replace the ENTIRE rig and switch to A2000s but the cost for that, at a difference of maybe 120w savings, would take a lifetime to pay off even if mining was still profitable.

i powered up the rig with no GPUs and my watt meter hooked to it once just to see. the results were....sad.
 
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xenium

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the ghetto rig that is running these bleeds a LOT of wattage for the remainder of the crap components attached to it. and i have to use a PCIE expander in a very specific PCIE slot to get R mode to work because the BIOS on this ghetto turd does not allow me to configure PCIE generation and when it is mixed TRM throws errors. So then i loose more wattage to the PCIE expander and that negates the switch to R mode on this box. what i have measured on this one is the cards seem to run between 115w to 120w and the other parts of the rig consume the rest. so i would have to really replace the ENTIRE rig and switch to A2000s but the cost for that, at a difference of maybe 120w savings, would take a lifetime to pay off even if mining was still profitable.

i powered up the rig with no GPUs and my watt meter hooked to it once just to see. the results were....sad.
Yeah Im definitely not advocating about buying A2000's right now. That system power draw is absolutely brutal. You're looking at ~100w of draw just from whatever crazy setup that is (580w - 480w for the gpus).

5700's with Samsung will run ~110w, Micron cards are ~120w (samsung uses about 10w less). That whole system should be ~515w total max, assuming 25w for the system idle draw (any 8th gen celeron or newer) and 10w for some external fans.
 
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