I Guess I Can Never Take a Break Again…RIP Crypto Mining
Okay, i left in charge of the crypto market and mining and you just crashed everything. Well, i mean what happened im just messing around, so i took a little bit of a break but im back having some fun and in this video i wanted to take some time to just get myself caught up in everything thats happening. Well, look at pricing charts, gpu availability, profitability, uh the merge and how all thats going look at some network difficulties and just hang out a little bit really low. Key video dont have too much of a script, so im just going to wing this one but hope everybodys been doing well. Ive missed all of you very much and if youre new to the channel, please hit that subscribe button. I do a ton of videos on crypto mining and all things mining related. So what i think i wanted to start with is just the pricing and taking a look at it here: man, its looking red, so bitcoin down at 20 k ethereum at 1100.. Personally. For me, this is just part of being in crypto um ive been in it uh coming up on five years and its just part of what happens thats. Why a lot of, if youre, going through this cycle for the first time, its just its really important to learn things so that you can approach the next cycle, maybe in a little bit of a different way? And i know the ethereum stuff that might change things.
Quite a bit but well see, as time goes on im feeling pretty good about it. So i wanted to take a look at the ethereum chart and this is the last month, so i essentially stopped uh. I did my like last video around here end of of may and uh theorem, still 2 gram, looking pretty good and then i step away and it crashes down what did it get down to like yeah sub 900 dollars? Cant, you guys, let that happen its unbelievable. The next things i wanted to take a look at is some profitability just to see what gpus are still profitable at what electric rates and um i wanted to do. This lets start with 12 30 70s, some of the most efficient gps. You can get for mining and well take a look at ethereum still and ill leave all the default values in here. Well. Do 10 cent electric rate and lets see how much youre making on a 12 card 3070 rig um. If you want to see my build on that ill link, it up in the card, above so on east right now, youre making still profitable six dollars ‘ cents a day lets see maybe what electric rate you would be at where you would not be profitable. So lets go to 20. Electric rate still profitable lets go at 30 cents. Are you still profitable at 30? Lets check that out calculate 30 cent per kilowatt hour? You are not profitable, so yeah i mean thats.
Still you probably like what 25 are probably still profitable. 25 per kilowatt hour i mean your break: even is gon na be forever but yeah, even so like lets just say: 25 cent per kilowatt hour and below youre still profitable on 30 70s, which is why i always always always talk about efficiency being so important. Um lets do some older cards. I know some of you guys are still rocking those 580s out there again all default values. I know what to mine is not like the best with its default values, but were going to use those today. So 10 cent per kilowatt hour, scroll down on aetherium, still making 70 cents per day 70 cents per day. Hopefully youve had those cards for a long time and theyre just making money youre not worried about breakeven, but im im im worried now. If we go to 15 cent, i dont think youre going to be profitable anymore, yeah youre losing about a quarter a day if youre at 15 cent, which is probably around us average, just probably like, i think, like 13 14 15 per kilowatt hour so rip to Any u580 owners out there, if you have had to turn them off thats, just name of the game, thats, why? I always always always talk about efficiency and getting the most efficient cards you can that you can afford, because it really saves you in times like this and well see even what is coming up ahead.
So i was talking about gpus ive really been out of the game for a little while, as far as like cause, i didnt want to buy anymore. I still have some you guys can see. Uh sit on the shelf that i have to get mining um, but i was curious like how easy are they to get now, especially with the lhr stuff, all being unlocked uh? You know what, like over a month ago, two months ago, now so taking a look over on neweggs website, i mean you can get a 30 60 ti. You just go buy one 550. This is actually the first 30 series card i bought when it came out. I got it on launch day um. That was one of my first youtube videos i ever made this gigabyte eagle still rocking. I love that card. Actually, so actually lets do this thats 550 bucks. So how long would break even take on that thing back over to whats mine? So those do what like 61 62 mega hash, i think so well put 62 in for like 120 watts and lets just say: youre paying 10 electric rate and you bought it for 550 um and well use ethereum here so yeah i mean your break even is About a thousand days uh, which is just youre in bear market territory, this is what it is, and youre still profitable, though youre making 57 cents per day in profit. Uh on that gpu.
The next thing i was wondering is like the founders edition cards. Can you buy those now, because those are the cheapest 30 series cards that you can get and for mine? They were great because your break even was much sooner, and so i went over to best buys website and like theres a 3080 ti up here. It looks like, but the good ones you still cant get 30 60 tis. 30 70s looks like you still cant get. I dont know if theyre available in stores at this point or if theyre, just still that difficult to find and then ebay lets. Look at the second hand, market which im sure has just been getting flooded with gpus, considering people have turned off their mining rigs or sold off their mining rigs. It just always happens happens every single time, and you can look. I mean 30. 70 is a good one if that still works. Thats 372 founders editions going for about 500 so were looking like between four to five hundred dollars. Um for these regular 30, 70s um, so theyve definitely settled back down in price. Obviously guys. This all follows the market. If anybody was telling you anything different before graphic card pricing definitely follows mining profitability, just no two ways about it. I know things were a little more complex, complex this last year, so with supply chain um and all that stuff. But still i mean you can just see, availability uh is so much better and prices are so much better, in my opinion, largely because of mining profitability im sure still slightly because of uh supply chain stuff.
So i wanted to figure out where the merge was so less. I left off um. It was going on the robson test network and it looked like that was successful, and that was about a month ago and i just kind of really been unsure where the difficulty bombs been where the merge has been so lets. Take a look at some of that stuff right now, so i really like using this website. Whenmerge.Com ill link leave a link to it down in the description below uh. It tracks all this stuff. So i was on here and i see that you know we did robson successfully back on may 30th, when i was tracking that and then i was also looking at the uh difficulty bomb. If i head over to this chart here, this is the ethereum average block times, and you can see right now. This is the last three months. The block times are at 16 seconds. I think right now, which is very, very high, its because of the difficulty bomb. If you go back, lets look at the last three years you can see times the bomb has went off uh. This is back in january of 2020 hits 17 and its just. You can see little blips where its gone off and been delayed here as well, but right now we are were up there. Thats the bomb were feeling it. So it looks like the devs have decided to delay the bomb thats going to happen in this gray.
Glacier update, which looks like its happening like tomorrow, i guess this one. This is going to happen its going to push the bomb back, which should uh give us a little more profitability than i think weve been feeling, because those block times went higher, which means theres, less less blocks being produced, which means theres less reward being paid out To miners, so what well have to watch is if it becomes more profitable. Do we watch that network hash rate go up again because more people are now turning their mining rigs back on or if they may be pivoted by something else? Do they mine back to ethereum and everything just kind of settles out anyway, and we dont really feel the effects that much but back to the merge, looks like the next thing up is the sapolia test net and if you remember, we have to do that. One really and then it goes to mainnet so um what i was looking for its got a countdown here for sepolia, which looks like its happening in about a week um from today as im making this video, the merge will happen on there. So it looks like its about five weeks between each test net. I dont know if thats going to hold true, but at least gives you an idea of maybe when the merge might happen. If it does five weeks of polio five weeks after zapolio took early and then how many weeks its going to take to go to mainnet, but it looks like theyre making progress and im glad that theyre gon na give us a little more profitability with getting the Difficulty bomb delayed and take taking a look at ethereums hash rate over on two miners.
You can see, i mean we hit over one petahash throughout all of may and april and then with the profitability drop. Its just come down so much that were now sitting at 841: tara, hash, thats people, turning off miners selling, gpus or perhaps going to mine a different cryptocurrency um, and what id be interested to see is as the bomb gets delayed. Does this start going back up again, or does it start turning down or what happens there now? The other thing i was curious to look at i know were talking heavy ethereum right now is how some of these other projects are doing um with their network hash rates. I saw on earlier on what to mine that um ergo is coming up pretty profitable, and i want to check that one out lets see if that network hash rate has gone up. Its gone down stayed the same. Its kind of stayed the same, not too much happening there and lets see what else uh ones we can check out lets do ravencoin. I really have heard many people talk about ravencoin in a while and yeah its just down down down down and then lets check out. Probably last one i want to do is flux, wheres flux at lets. Look at that network. Hash rate lets look yeah, yeah, everythings trending down a little spike up at the end, but still trending down just like everything else, so i think thats everything that i wanted to catch up on if theres anything that i missed.
Please. Let me know down in the comment section below, maybe something i should know thats been happening in this last month or so, but hope you guys enjoyed the video as always hit the like button. If you did sub to the channel for more gpu mining content, join my discord if you want to chat links for that, and all social media are down in the description below and as always, please take care of yourself take care of each other.