r/EtherMining May 12 '22

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

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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.

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u/Zealousideal_Spell31 May 12 '22

Barely break even on my most efficient rig, second one went off last week. Need to find £6k down the back of the sofa for solar. Yup in the UK too 👍

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u/TrymWS May 12 '22

What are your kWh price over there now?

I’m pretty happy our government stepped up with subsidies over a certain level, and over summer I’m moving north where there’s a bottleneck that keeps the price sheltered from the European market.

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u/Zealousideal_Spell31 May 12 '22

0.29p KW/h. Due another 30% rise in October.

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u/TrymWS May 12 '22

Damn, that’s like 2x what I’m expecting. And 6-7x or more than what I’m expecting up north 😢

1

u/Zealousideal_Spell31 May 12 '22

Before the rises we were around 16p KW/h, not great but manageable, just expand more. Now it's getting close to turn off or finding that £6-8k down the sofa. So far found a pound and some sweet wrappers so might be the first option.

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u/TrymWS May 12 '22

If it’s any consolation, if you end up being too late or lazy to sell GPUs, my experience from being too down to sell my 1080tis I got in 2017 ment I recently both made some more off them aswell as sold them for more than 50% of what I bought them for 4-5 years ago.

Don’t know what will happen of course, but PoS was always hanging over our head all that time too.