It's amazing that the mining hardware just keeps piling in --
Yes, but than again it is still profitable. I thought mining would be over by now, but it just does not want to give up.
My 8 miners acquired 3.5 BTC in the last 22 hours. Even at $10 per BTC, that is $35. My electricity max per box (4 PCs), is roughly $1 for the day, therefore $4 in total.
I reckon that a lot of the new miners are just people using equipment that they already had, maybe with a gfx card upgrade or two. They've watched and listened while someone they know has had their computers making money for them, and finally they have decided to give it a go. "Hell, even if it's just a few dollars, a few dollars a day pays for fuel
", they may reason.I seem to have about the same mining income as you -- only I have 12 cards. All pretty efficient ones, too (5800 series). I run a pretty lean ship here. But my electricity cost is around 74 kW/h per day. I keep close tabs on my electricity usage. I regularly write down what the meter on the side of my house reads, so I'm familiar with my normal daily kW/h usage. I also own a Kill-a-Watt meter.
I'm including the cost of extra air conditioning. I live in Texas, where we haven't had a cloudy day in weeks, and the temp hits 105 some days.
I think some guys are reporting less cost, because they don't (or can't) count the cost of fans, A/C, etc.
Anyhow, 74 kW/h comes out to $6.51. And that's a 8.8c per kW/h, which is certainly average if not cheaper than most. And that figure is super-accurate as well. I took my electric bill, subtracted the Statement Fee ($15.00), and divided what was left by the number of kW/h I used -- which equaled 8.8 cents.
You're saying $1 each for 4 machines, which have enough graphics cards to produce 3.5 BTC/day? That's 3.3 GH/s.
I think everyone needs to go back to the drawing board and double check how much they're REALLY spending on mining. You might be surprised.
Matthew