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With today’s ETH prices, electricity costs are a fraction of the revenue from mining. Like, on the order of less than 10%.
by willhinsa 5y ago
With today’s ETH prices, electricity costs are a fraction of the revenue from mining. Like, on the order of less than 10%.
- saurik 5y agoThat's brutal... isn't the hash difficulty supposed to automatically increase to compensate? Is it actually the case that the limiting factor on hash rate right now is how quickly Nvidia is willing to sell GPUs?!
- willhinsa 5y agoYes, your relative hash power does give you a smaller and smaller piece of the pie all things equal as more hardware mines the blockchain. However, the increase in the USD price of ETH and also the demand for transactions on the ETH blockchain have both gone way up (i.e. the cost for a transaction of a given size, a.k.a. "gas", measured in "gwei"), and the balance of those three factors means mining on the same card is currently much more profitable than it was in the past. Uniswaps and NFT's are large transactions and bid up the price of gas, and have been very popular as of late.