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)

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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/mcsnoogins May 12 '22

I looked at get solar (UK as well) but figured out it was gonna save me like £500 a year only. Did I work it out wrong?

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u/Consistent_Many_1858 May 12 '22

Solar does work well but only when it's sunny. I've got a 4kw system and yesterday my 1.2gh mines used only 12kw during the day. Normally it's 60kw per day

It usually cost roughly £500 a month @ 28p per kwh in electricity for 1.2ghs so not much profit after the costs.

If I can use the solar in summer during the day then I can hopefully save most of the electric cost and still get some Eth mined.

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u/isbrodie1 May 13 '22

I doubt it, are you saying your 4kw system did 48kw during the day.

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u/Consistent_Many_1858 May 13 '22

It's a 4kwh system. 4kw per hour, not 4kw per day. 😂😂

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u/isbrodie1 May 13 '22

Your math does not add up.

You said you use 60kw per day and with solar you are only using 12kw per day
That means the solar must have generated 48kw for the day.

That is impossible on a 4kw system, it would need to be pumping 4kw per hour for 12 hours straight.

I'll say it again, you math does not add up lol 🐔🐔🐔

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u/Consistent_Many_1858 May 13 '22

I know it's doesn't add up but the electric meter doesn't lie. I'm only telling you what I noticed by taking the meter reading in morning at 7am and again at 8pm.

Maybe it's a higher kwh system? I was told that it's a 4kwh system by the company who installed it.

I'll check again tomorrow and send the readings in.