Despite the fact that the light does not stop rising and that we are experiencing an energy crisis around the world, there are people who do not want to stop mining, even if it is very unprofitable today.
The case we bring to you today is one of those who started mining seriously in 2020, put together their powerful hardware and took advantage of the crypto boom when they were trading at a high level and electricity was really cheap.
Now the situation is completely different, but still there are brave people who are tryingalthough the initial investment is no longer worth it because the costs have risen so much that it takes too many months (even years) to receive the reward.
The young Mark Setlock, as we told earlier thanks to Business Insider, started mining Ethereum 6 years ago. The key to his team is that he inherited three AMD RX 580s with little mining power, in return he lived at the university and the electricity was free.
Thus, he began to make a hole in the world. Little by little, he was making money, although he was getting $4.5 a day for mining those three RX 580s. Seeing that he needed to invest, Setlock decided to buy two RTX 3070s, one RTX 3070 Ti, and three RTX 3090s.
These investments reached 7800 euros, but it allowed him to go from charging 135 euros a month with AMD graphics to a complete team that brought him 800 euros.
Counting the price of the light that I had in 2020, about 120 euros remained on the electricity bills. That is, a net profit of 680 real euros per month. As you can see, With this advantage, it took him over a year to pay for all the purchased graphics.
If we add to that the rise in current electricity as well as the overall decline in cryptocurrencies, Mark Setlock is making a profit right now, but only because he was investing money when mining was making money. starting this adventure right now would be economic suicide.
Mining has ceased to be attractive in the current situation, and an example of this, if we go to any computer store, there are many stocks of video cards, even at not very exorbitant prices.
Source: Computer Hoy
I am Bret Jackson, a professional journalist and author for Gadget Onus, where I specialize in writing about the gaming industry. With over 6 years of experience in my field, I have built up an extensive portfolio that ranges from reviews to interviews with top figures within the industry. My work has been featured on various news sites, providing readers with insightful analysis regarding the current state of gaming culture.
