Hi everyone! I'm thinking about getting into GPU mining. In particular ethereum mining and I just have a few questions.
1. It says that the Radeon RX 470 has a power consumption of 150. Does this mean that if I have a cost of 13 cents kWH I should be paying 0.468$ per day to have 1 running?
2. Does this stack? It says a Radeon RX 470 has a hash rate of around 24 MH/s. Does this mean if I get 3 I should be getting 72 MH/s and paying 1.404 dollars a day for electricity?
3. If so why are people complaining that mining is not profitable anymore? I put it into a mining profitability calculator and it says it will be making me 91.90 cents profit per month! This means it will pay for the hardware in less that 8 months. It isn't really anything to live off but 92 dollars is still a lot of money. Even if ethereum drops back to 18 dollars I will still be in the green.
4. Did I go wrong somewhere in my math or is it really that worthwhile? I understand that in 6 months this GPU will not be as profitable as there will be faster ones on the market but is it at least somewhat realistic to make a profit with 2-3 of these for the next half year?
Thanks for anyone that takes the time to read and anserrs these questions. It really means a lot to me!