Amid discussions around the profitability of crypto mining, many people are questioning whether it is worth their time and money in the current market. Rising costs and regulatory changes have driven some miners away, while others remain optimistic about potential earnings.
The nostalgia for the "good old days" of mining is palpable. Miners once celebrated profits easily, but the landscape has changed. One contributor said, "Those were the good old days," reflecting feelings echoed across various forums.
While many struggle to break even, recent comments highlight individual earnings that paint a clearer picture of current challenges:
A miner operating 12 3070 GPUs reported earnings of about $5 daily after electricity costs.
Another user, with 10 4070 GPUs, shared that they earn 55 cents per card each day.
Interestingly, some miners are shifting focus to alternative coins. One user mentioned that GPU mining now often targets speculative coins, hoping for a price spike. They noted:
"Your post made me nostalgic! I sold a lot of mine before the end of ETH PoWnothing great to mine these days."
As the market shifts, some miners are experimenting with CPU mining and less conventional coins. For example, one user shared positive experiences with Kaspa and ERG during their early days, hinting that Monero could be a more stable option now. However, timelines have shifted as the mining environment has become less playful compared to past methods.
The mixed sentiments shine light on differing user experiences:
Steady profits: Some CPU miners report lower, consistent profits through daily earnings.
Speculation leads: Others are finding temporary success in speculative mining, hoping to cash out once prices rise.
"If I can make a profit, I might do it again," a user expressed, showing distinct hope amidst uncertainty.
π Many miners are moving towards speculative coin mining, targeting temporary price jumps.
π° Daily profits vary significantly, with earnings often negligible after energy costs.
βοΈ CPU mining is seeing a resurgence among those seeking stable profits.