Time to stop mining Ethereum with RX Cards?mcminer | October 15, 2018 | 0 | ETH , Latest News
Ethereum prices have been falling since the boom last January when it spiked to over $1300. Mining how now become very inefficient for gamers and home based enthusiast miners using the AMD RX graphics cards to continue to mine.
Mining Ethereum last year was literally like making it rain money. However since the continual fall of prices by over $1100 in the year. The dilemma all miners face when mining is when to cash out your Ethereum to pay your running costs. Some people take the approach of selling immediately to avoid any losses, others may trade their Ethereum for other cryptocurrencies like Bitcoin or Litecoin. Some on the other had hold their coins expecting the prices to rise more long term. The final strategy may be to take a combination of all of the above, selling some, trading for other perhaps obscure coins and holding a small bit of Ethereum in the hopes of winning it big.
According to whattomine .com it is now hardly worthwhile to mine using AMD RX 580 graphics cards for Ethereum, even if they have the ETH Bios mod.
Six RX 580 Graphics now mine about $2.76 of Ethereum a day. Considering an electrical consumption of over 800W for the six RX 580s and an average price of $0.10c for electricity you’ll be looking to pull in about $0.80c profit once you also factor in additional power for the motherboard and CPU. If your using lesser RX cards like RX 570s is still marginally profitable for Ethhash coins. But is it worth the while?
Let us know your thoughts in the comments section.
We are going to keep some of our RX cards chugging.