philipma1957 I just received my EVGA GeForce RTX 2060 12GB XC GAMING and after many OC trials I got 29.79 MH on Ethash with a CORE of -512 and a MEM of 1024 at 100 Watt (on GMiner software).

The memory is Micron.

How do you obtain 37 mhs at 85 watts?

For now, in term of efficiency (hashrate per watt) it's not so good with only 0.2979 but in terms of hashrate per GPU cost (29.79 MH / 700 CAD = 0.0426 MH / 1$) it's pretty good. Hopefully, I pay 0.10 CAD per kWh.



 

Damn philipma1957 you made me look up the GPUs and I finally bought one RTX 2060 12GB for 700 CAD. Same model but the 6 GB few months ago I paid 1 200 CAD.

Yes the PoS for Ethereum should come in June but I still think mining other altcoins with GPUs will remain profitable event post ETH 2.0.

The problem with staking ETH to run a validator it's because we need at least 16 ETH for one validator on RocketPool it's very expensive. Without running a node you can stake as little as 0.01 ETH on Rocketpool and you pay fee between 5 to 20% to the node operator but the actual % APR is just around 4% and the RPL tokens APR is around 14%. Mining ETH with GPUs is more around 80% APR.

But if you expect ETH price to go around 12k after The Merge and RPL token around 500$ then it will become really profitable to stake ETH but for now we have to be patient.

Amazing info!
Thank you philipma1957.

Unfortunately, The Merge will happen soon with Ethereum Consensus Mechanism so we won't be able to mine ETH with graphics cards anymore so in my humble opinion, buying graphics cards now is not a judicious investment decision on long term. When you look at all the other coins to mine, their daily volumes and market caps and sooooo tiny compared to ETH and most of them don't have real use cases (except to be an investment vehicle) that I'm pretty sure our mining profitability will drop enormously, I'm expecting maybe 50-80% drop.

This is why for the last 6 months, I have been studying Ubuntu Server and Rocket Pool documentations and started to run validators on the ETH beacon chain. It's the future, no doubt. It's crazy just on Rocket Pool, every day, big dogs or institutions (banks, insurance cies, hedge funds etc), are staking in average 2-3 millions USD of ETH value into the Rocket Pool protocol.

Si je peux résumer, à moins d'avoir un entrepôt avec plusieurs centaines de milliers de dollars en équipements (plus souvent des ASIC pour miner du Bitcoin) et des revenus dans les millions de dollars par année, tu n'es pas un client intéressant pour les assurances.

Alors ce n'est pas possible pour un home miner au Québec de se faire assurer. À tout de moins, pour les cies. d'assurance que j'ai contacté (une vingtaine) et j'ai même fait appel à un courtier d'assurance.

It's risky if you don't tell all the truth then the insurance could decide to not cover your lost in case of a sinister. I won't play that card.

Agree! Yesterday I received a RTX 3070 non-LHR so I could build another mining rig.
There's always risks, the thing for me about POS it's even with Rocket Pool we still have to stake 16 ETH + 10% to run a node validator which is a lot of cash (it's around 81,000 USD in date of Nov 7, 2021) compared to building mining rigs it's way cheaper.

But the ETH you stake you'll be eventually able to recover it (after staking it) with most probably a good appreciation so if you only look at the hardwares cost for your node, it's sooo lucrative (more than 100% yield per year) but yeah it's very expensive to buy 17.6 ETH.

With RocketPool you'll be able to stake small amount of ETH like 0.1 ETH but it won't give you a yield as good as running a node validator hehe. It's like a Banking license kind of...

It's possible that Ethereum merge will be postpone more than once next year but it is going to eventually apply the proof of stake consensus, question of time.

Forget it, the blockchains of the PoW coins we could mine with our GPUs compared to Ethereum blockchain are tiny tiny tiny. This is why I started to invest in PoS Ethereum nodes validator. 

I do think GPU crypto mining will remain for many more years but the profit will drastically drop for sure and from now I can tell without a doubt the future is Ethereum that's it, that's all.

Maybe Cardano will become a competitor and maybe Ethereum will encounter challenges but if you analyze what is actually going on under the hood in the crypto world, I mean the latest and most exciting developments, Ethereum blockchain is almost always involved!!!

My Mitsubishi commercial AC also has the benefits of a variable speed inverter scroll compression which means:

Conventional compressors typically only run at one speed and can only cycle
between on and off – not an effective method for delivering cooling in a
server room. The P-Series is equipped with Mitsubishi Electric’s quality-made,
durable variable speed inverter scroll compressor that can adjust its speed to
provide precise cooling as needed. This means:
• a consistent, precise temperature is maintained at all times;
• increased energy efficiencies, resulting in cost savings;
• when a server room expands, the P-Series can adapt to the increasing heat
load without requiring the installation of additional equipment.

My AC cost me around 3,50 CAD per day (2% of my average daily revenue) for continuous sensible heat load of my minage room. I will soon add more GPUs and will capitalize even more on my AC daily cost even though I spent many hours to set my node validator on RocketPool for the upcoming ETH merge.

I use a commercial AC to cool down my 42 GPUs and since march everything has been perfect!

To be more specific it's the Mitsubishi 24,000 BTU Wall Mounted Air Conditioner Air Handler
Model: PKA-A24KA7.TH

https://www.mitsubishitechinfo.ca/sites/default/files/SB_PKA-A24KA7_PUY-A24NHA7%28-BS%29_201908.pdf

I am planning to add more GPUs so that way I am sure the temperature and humidity are controlled plus it works during winter, the outdoor unit can do up until -40°C.

It cost me 7,358.40 CAD and I have professional technicians I can contact quickly if something wrong happened.

What will damage your GPUs the most is the heat, I am planning to keep healthy my GPUs for years to come and I don't have to bother anymore with a ventilation system which you have to constantly adjust manually based on the outside temperature.

It's been amazing up until now but for someone with high electricity cost it might not be financially wise. Here in Québec I pay 0,10$ per kWh which is pretty low and our electricity comes from a green and renewable source.

I think it can be a good thing the Ravencoin's halving, if the price goes up it can easily compensate the halving.

All the other proof of work blockchain minable with GPUs are very small blockchains compared to Ethereum blockchain. When ETH will be proof of stake you will see all the hash rate get distributed and moving regularly from one PoW coin to the others but yea I'm pretty sure the profit will never be the same.

My bro is a software engineer working for a DeFi company and he explained to me lately the latest developments in the Ethereum world and frankly these PoW coins like Ergo, Ravencoin etc. are simply not in the train in terms of future technology. Almost everything is happening on Ethereum blockchain (lately it's the Layer 2), the PoW coins are simple investment investment vehicles. Even Ergo doesn't have a lot of resources for coders, the vast majority of developers are on Ethereum.


Cardano coming soon will be interesting to follow!

Thanks for your answer.
In the next 10 months Ethereum merge might happened but we can switch our graphics card to another proof of work coin and non-LHR video cards perform well with Ravencoin or Ergo.

Hi Bitcointalk community,

I was wondering if I should continue to buy non-LHR RTX 3070 or look at the cheapest alternative which is buying LHR RTX 3070 to mine ETH?

I am not interested to do dual mining with T-Rex miner, I only want to mine the more profitable proof of work coin which is ETH like always.

I have read here and there that even if Lol Miner or other mining softwares offer unlock feature for  LHR RTX 3000 series to mine ETH, it doesn't unlock 100% the LHR and it's often not stable.

Obviously what makes me hesitate is that non-LHR RTX 3070 are almost double the price of the LHR RTX 3070.

If anybody has a firsthand experience on that I would appreciate!

Thank you.

Okay it's back to normal, maybe it was a temporary issue with my mining software t-rex.

Hi Bitcointalk,

Really strange, am I the only one experimenting a substantive drop in its ETH expected earnings per day?
ETH price is still high, the ETH gas too. When I look at my Real Time Hashrates stats everything is normal.
Average Network Hashrate and Difficulty level also seem normal.

Hmmm.... strange.

I finally bought on Amazon this GPU
https://www.asus.com/Motherboards-Components/Graphics-Cards/TUF-Gaming/TUF-RTX3070-O8G-GAMING/
For 1,482 USD. It's maybe in the last RTX 3070 (non LHR) available on the market. Last time I bought a RTX 3070 new it was for 1,255 USD.

Hi Bitcointalk community,

2 months ago I bought a GPU it was a RTX 3070 (not LHR) and I was thinking to continue buying more RTX 3070 (not LHR). Now I browse on Ebay.ca and was surprised to realized that there's no more RTX 3700 (not LHR), they are all LHR.

I would like to hear from you, what Nvidia GPUs are you now buying on the market?
In term of efficiency (hashrate per watt) I came to the conclusion that the RTX 3070 was the best to mine ETH.

Thank you in advance.

Actually it's been 1 month and a half last time I bought a RTX 3070 on Ebay.ca so probably the average price has changed plus now there's more and more RTX 3070 Ti (which are LHR). You have to search on Google, you type the model name + "product page", you'll find the manufacturer product page and you have too double check there to be sure it's not LHR.

I was wondering if regular RTX 3070 (not LHR) will still be available for my next purchase on Ebay.ca or will I have to buy a different Nvidia GPU model.

I am ready to buy a RTX3070 (not LHR) at 1,600 CAD which gives in average 62.37 Mh/s to give you an idea!

Hi Guys,

For the miners who use hiveon pool I was wondering for quite some times if I can see the difficulty level of Hiveon Pool. They answered me.

Just to put in you in context.

You all know that we (miners) are getting paid by the number of shares we got approved on Hiveonpool. The shares from hiveon pool are calculated if we find a nonce that meets the target hash or the mining pool difficulty level but it's not necessary a good nonce to add a block in the Ethereum blockchain because the Ethereum network difficulty level is always higher compared to the pool difficulty.

In fact, the shares are how the mining pools calculate, distribute the revenues and make sure that the miners participating to the pool are really adding computational powers to try to solve the mathematical problem.

When I write "target hash" or "mining pool difficulty", in fact it literally means a number lower than the one you got if you copy-paste the "target hash" expressed in a hexadecimal number in your JavaScript Console on Chrome, for instance:

https://imgur.com/U0eLK4K

So in my example I took a random "target hash" and it gives this number on base 10:
4.964248710538878e+47

The "e" it's for "10 exponent something" so it's 4.964248710538878 multiply by 10 exponent 47 which is a super huge number.

So if your mining rig find a number smaller than this 4.964248710538878e+47 so the mining pool will give you a share.

So to simplify, the mining rig try different nonce which are whole numbers and every time it tries a new nonce number with the same data entry, it will give you a different hexadecimal number or hash and if the hash or number is smaller than the hash target or number target then you got a share.

I think I don't explain it properly, if you really want to understant the mechanics behind your mining payments I suggest you watch this:

https://andersbrownworth.com/blockchain/

Then I asked Hiveon Pool more details about how they calculate their "target hash" or "difficulty level" and the only thing they can tell me (because it's secret codes) is this:

We use vardiff on the pool . I.e. the difficulty is given to the rig depending on its speed of finding the shares.

https://help.slushpool.com/en/support/solutions/articles/77000433929-what-is-vardiff-variable-difficulty-algorithm-

Let me know guys if you understand better the process of receiving accepted shares from Hiveon pool (it's probably similar with the other mining pools) and getting paid as we mine.