Crypto enthusiasts could make $122K per year mining Ethereum with this setup

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Simon Byrne has taken at-home crypto mining to an entire new degree as he seems to be to capitalize on Ethereum’s (ETH) potential. 

As first reported by Anthony Garreffa, Byrne has arrange an ETH mining rig consisting of 78 GeForce RTX 3080 graphics playing cards. Though the RTX 3080 is marketed towards high-end PC avid gamers, crypto miners are utilizing these highly effective specs to reinforce their capabilities.

With every card utilizing roughly 300W of energy, Byrne’s setup makes use of 23.4KW of vitality. And that doesn’t even think about related prices like AC. All stated, his electrical energy invoice is estimated to run as much as round $2,166 per thirty days.

The RTX 3080 launched in September at a value of $699, however provide shortages have brought about the per-unit value to swell to $1,199. On the scarcity value, that’s a price ticket of $93,522 for Byrne’s setup.

Nonetheless, these prices may very well be offset by the operation’s mining functionality. One GeForce RTX 3080 graphic card has a hash fee of round 83MH/s utilizing Ethash, which ought to generate roughly 0.22236870 ETH per thirty days, in line with Garreffa. All 78 playing cards would subsequently generate 17.3 ETH per thirty days, which is equal to round $12,352 at right this moment’s costs.

Stripping away the electrical energy prices, that’s roughly $10,200 per thirty days or $122,000 per yr. And that’s not factoring in Ethereum’s value potential through the subsequent bull market.

Ether’s value zipped previous $700 over the weekend, the primary such transfer since mid-2018. The return of altseason, as some have predicted, may ship ETH’s value even larger over the medium time period as buyers cycle from Bitcoin to different large-cap cryptocurrencies.