Is GPU mining no longer profitable for Ethereum?

3 answers

• Nov 28, 2021 · 3 years ago
  Yes, GPU mining for Ethereum can still be profitable, but it depends on various factors. The profitability of GPU mining is influenced by the price of Ethereum, the cost of electricity, the efficiency of your mining rig, and the competition from ASIC miners. It's important to calculate your potential profits and consider the ongoing changes in the Ethereum network before investing in GPU mining. Additionally, you can explore other cryptocurrencies like Ravencoin, Monero, or Zcash, which are still profitable to mine with GPUs.
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• Nov 28, 2021 · 3 years ago
  No, GPU mining for Ethereum is no longer profitable due to the increasing dominance of ASIC miners. These specialized mining rigs have a much higher hash rate and energy efficiency compared to GPUs, making it difficult for GPU miners to compete. As a result, the rewards for GPU mining have significantly decreased, and the electricity costs often outweigh the profits. It's recommended to consider alternative cryptocurrencies or other mining methods if you want to continue mining profitably.
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• Nov 28, 2021 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, GPU mining for Ethereum can still be profitable for certain miners. While ASIC miners have gained popularity, there are still opportunities for GPU miners to earn profits. It's crucial to optimize your mining setup, choose the right mining pool, and stay updated with the latest developments in the Ethereum network. Additionally, exploring other cryptocurrencies like Ravencoin or Monero can provide alternative profitable mining options.
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