A classic cryptocurrency mining farm can pay for itself in about seven months.
The authors refer to the website f2poll, which provides data on the payback of graphics processors, taking into account the cost of electricity and the rate of a particular cryptocurrency. Journalists noticed that the rate of a popular currency in the field of miners – Etherium (ETH) – collapsed sharply during the week. The drop in the rate affected the real income of miners. For example, if a farm based on Nvidia RTX 3060 Ti video cards was bringing in almost $54 per day on March 14, the income from the equipment was about $42 on March 21.
Given the current exchange rate, the payback period for video cards is increasing. For example, a set of eight Nvidia video cards named by journalists at a return of $42 will pay for itself in about seven months. In this case, previously the farm paid for itself in four to five months, maximum – for six months.
Experts attribute the decline in revenues to the large number of players in the market. “The first ones who came here got the maximum profit, while the majority will only fill the void,” the authors said, comparing bitcoin and other cryptocurrencies to pyramid schemes.
According to the f2poll index, the highest income – $247, or about 19 thousand rubles per day – brings the farm Linzhi Phoenix. The cost of such equipment can reach 15 thousand dollars. A collection of eight Nvidia GeForce RTX 3090 graphics cards brings us about $89 per day.
Also, the material states that the described payback period applies to full farms, assembled by professionals. Ordinary users interested in cryptocurrencies will get their first income from the equipment later. In addition, for the fastest return on investment, the farm should work 24 hours a day, which is fraught with the growth of payments for electricity and the risk of equipment damage.
Earlier, Andrey Kostin, head of Russia’s VTB Bank, said that cryptocurrencies have no future. “I have always believed that left-wing digital currencies such as bitcoin, despite the great growth in its price, are still doomed in the long run,” the bank’s top manager said. Kostin added that the government may consider mining as counterfeiting.