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Nope. I have made profitability assessments on several different cloud GPU solutions having different hardware. As a general rule, for every 100 USD you'd only

Nope. I have made profitability assessments on several different cloud GPU solutions having different hardware. As a general rule, for every 100 USD you'd only mine about ~50 USD's worth of crypto-currencies. Which is not surprising since on these products you get a fancy motherboard + high-end Intel CPUs + boatloads of RAM. These are of little to no use when mining, and account for about half of the cost of this hardware. Also, the local cost of electricity is not the lowest price in the world (China having one of the lowest) While the price of hardware is fixed, crypto-currencies possess a difficulty adjustment mechanism. This makes the whole system have an upper bound on mining profitability, and this bound converges on the profitability of the best-yield-hardware's. Which would be something to the tune of this [1]. Note that while having 6 GPUs, this system has 8 GB of RAM and an Intel Celeron. [1] https://blockoperations.com/6-gpu-mining-rig-amd-rx580-intel-lga-1151-ethereum-zcash/ https://blockoperations.com/6-gpu-mining-rig-amd-rx580-intel... ---- EDIT: We're talking about IO-bandwidth-bound crypto-currencies here, like all the ones based on EThash[2][3], Ethereum being one of them. Bitcoin's upper bound on profitability is set by the best ASICs for SHA256 processing. [2] https://github.com/ethereum/wiki/wiki/Ethash https://github.com/ethereum/wiki/wiki/Ethash [3] https://github.com/ethereum/wiki/wiki/Ethash-Design-Rationale https://github.com/ethereum/wiki/wiki/Ethash-Design-Rational...

Jdam 9y ago
You probably didn't evaluate Spot prices. I wrote a tool once to evaluate current AWS spot prices against the Ethereum price and sometimes it was a low as losing 2 cents per hour and G2 instance.
- logicallee 9y ago
  AWS is by far the most profitable business unit at Amazon, with margins consistently in the 25% range. https://www.recode.net/2017/4/27/15451726/amazon-q1-2017-earnings-profits-net-income-cash-flow-chart https://www.recode.net/2017/4/27/15451726/amazon-q1-2017-ear... if this is true: > it was a low as losing 2 cents per hour then it seems someone should be able to negotiate with you (even if not Amazon), especially if you're willing to use 1,000 or 10,000 instances - and don't need memory, etc. it seems 2¢ should be within what you might be able to shave off of somewhere... maybe not, though.
  - Jdam 9y ago
    Funny side note: when I prepared for getting into all this mining and increasing G2 quota in N Virginia from 2 to 20 or so, customer support first needed to check "if this won't disrupt overall region stability". Don't know if this was bs or if scalability in Aws might be worse than we think.
    - djb_hackernews 9y ago
      We frequently request account limit increases to 1000-2000 instance limits and get the same canned response. Though I bet in the earlier days capacity allowances for GPUs was probably more sensitive.
    - jsjohnst 9y ago
      Used to get told the same thing for GP2 EBS and R3.8xlarge limits in us-west-2 all the time. On a couple occasions was told no, that increasing the limit wasn't possible due to existing commitments in the region, so I'm not entirely sure if it's a canned response or actually a legit concern of theirs.
Gouido 9y ago
I have some free AWS credits and would like to use them to mine some cryptocurrencies. Anyone here able to help me out as I'm quite a noob in this field..? I thought if I can launch loads of instances at the same time to mine the same currency, I would burn all my credits in no time but have higher rewards, or am I wrong? Love to hear your thoughts on this!
- gblocker 9y ago
  hey I could help, please email me at convnet@protonmail.com

Jdam 9y ago

You probably didn't evaluate Spot prices. I wrote a tool once to evaluate current AWS spot prices against the Ethereum price and sometimes it was a low as losing 2 cents per hour and G2 instance.

logicallee 9y ago
AWS is by far the most profitable business unit at Amazon, with margins consistently in the 25% range. https://www.recode.net/2017/4/27/15451726/amazon-q1-2017-earnings-profits-net-income-cash-flow-chart https://www.recode.net/2017/4/27/15451726/amazon-q1-2017-ear... if this is true: > it was a low as losing 2 cents per hour then it seems someone should be able to negotiate with you (even if not Amazon), especially if you're willing to use 1,000 or 10,000 instances - and don't need memory, etc. it seems 2¢ should be within what you might be able to shave off of somewhere... maybe not, though.
- Jdam 9y ago
  Funny side note: when I prepared for getting into all this mining and increasing G2 quota in N Virginia from 2 to 20 or so, customer support first needed to check "if this won't disrupt overall region stability". Don't know if this was bs or if scalability in Aws might be worse than we think.
  - djb_hackernews 9y ago
    We frequently request account limit increases to 1000-2000 instance limits and get the same canned response. Though I bet in the earlier days capacity allowances for GPUs was probably more sensitive.
  - jsjohnst 9y ago
    Used to get told the same thing for GP2 EBS and R3.8xlarge limits in us-west-2 all the time. On a couple occasions was told no, that increasing the limit wasn't possible due to existing commitments in the region, so I'm not entirely sure if it's a canned response or actually a legit concern of theirs.

Gouido 9y ago

I have some free AWS credits and would like to use them to mine some cryptocurrencies. Anyone here able to help me out as I'm quite a noob in this field..? I thought if I can launch loads of instances at the same time to mine the same currency, I would burn all my credits in no time but have higher rewards, or am I wrong? Love to hear your thoughts on this!

gblocker 9y ago
hey I could help, please email me at convnet@protonmail.com