Calculation: Ethereum mining is no longer worthwhile
Ethereum cryptocurrency mining is no longer profitable due to rising energy prices.
Mining the cryptocurrency Ethereum is becoming less and less attractive.
For years, the boom in the cryptocurrency Ethereum dominated the markets for graphics cards. Most models were out of print or offered at twice the price. That should now be the end of it. A calculation by Crypto Slate comes to the conclusion that mining Ethereum is hardly possible to cover costs. Responsible for this are the rising energy costs due to the war in Ukraine. This is associated with a fall in the price, which caused the value of the cryptocurrency to melt significantly.
No longer makes economic sense in the USA
Most recently, ETH was worth just $1,100. According to Crypto Slate, Ethereum can no longer be mined economically, at least in the USA. The calculation was based on a Geforce RTX 3090 with 130 MH/s. Energy prices have been rising in the EU for some time. Accordingly, many miners in this country are likely to have given up their rigs and sold the hardware on Ebay and similar portals.
Graphics cards soon affordable again?
Switching to other cryptocurrencies is also not that attractive. Some lesser-known coins have already been overrun by frustrated miners, but this also leads to lower prices again. According to Crypto Slate, lucrative mining of Ethereum is only possible again at a price of 1,400 US dollars. These developments are accompanied by a sharply falling cryptocurrency market. However, PC gamers could get something positive out of the development: Graphics cards should be more affordable again in the future and maybe soon be offered at the RRP of the manufacturers.
Ethereum: Graphics card mining is set to disappear soon