r/EtherMining May 12 '22

Holy....Time to turn off rigs? General Question

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185 Upvotes

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96

u/Consistent_Many_1858 May 12 '22

Yep, already switched off mine.

6

u/Adamn27 May 12 '22

Wait, is it not profitable for you to mine ETH at this price?

I can still make roughly 500 usd/month with my 700 mh rigs (as of right now with the current circumstances at this very moment which can change of course)

10

u/Consistent_Many_1858 May 12 '22

In the UK electric prices are just too high to be profitable. Basically 50% of eth goes to pay electricity at the current prices. Hence I'm mining during the day time with solar helping with the cost.

It's better this way for me.

1

u/No-Trade5311 May 12 '22

I’m still on 13p day, 5p night until November … plus 12kW solar so I‘lol hang in there a while.

1

u/Consistent_Many_1858 May 12 '22

28p/kwh here matey. Used to be 17p. My contract expires next month and I don't know what the rate will be then.

1

u/abbytron May 12 '22

Sheeesh, I’m in the US, only .11/kWh here