Put simply, profit margins rise as the cost of electricity falls and vice versa.Īnother factor is whether you’ve already got the necessary equipment needed to begin mining. Of course, the profit margin is determined by many, many factors, including the current cost of electricity. That would work out to about $16 per day per miner.Īs you see, it is less profitable than it was a year ago to mine cryptocurrencies on a GPU. Nowadays, in 2022, a miner could expect to earn roughly 0.0004 BTC per day when 1 BTC is equivalent to around $40k at the time of writing (although this is currently dropping!). Sometimes the GPU would be unable to generate any revenue at all. Think about it this way: back in 2018, GPUs would barely break even. However, you must consider that profits were extraordinarily high in 2021, especially compared to previous years. That would work out to about $30 per day per miner. ![]() Let’s look at some stats: Every day in 2021, a miner would earn roughly 0.0006 BTC at a time when 1 BTC was equivalent to around $50k. A complete return on investment took only about two to three months which meant in this same period of time, you’d have been able to pay off the price of the GPU. Looking back to the peak of mining profitability, from April to May of 2021, profits have fallen by roughly 40%. The longer answer adds a few extra considerations to this. Plus, switching between coins is simple and does not necessitate the purchase of a new machine. This is because, in contrast to ASICs, graphics cards are capable of mining algorithms of any complexity. GPU mining remains viable even though the majority of coins are mined using ASICs, and only a few can be mined using GPUs. In short: yes, mining is profitable in 2022. That said, it’s all about balancing the tradeoff of purchasing new parts, electricity consumption, and the return on investment you get with the mining process.īefore diving into our recommendations for coins to mine, there’s an important question we need to address… The NVidia RTX 3060Ti is one choice for mining cryptocurrency Is GPU mining still profitable in 2022? The GPU and components directly attached to it may degrade more rapidly during periods of continuous use, but this is often to a lesser extent than if you were using it for gaming. The only factor to be aware of is how much you’re doing it, as parts will always degrade no matter if you’re mining on your computer or not. However, in general, there is no danger in GPU mining. ![]() It’s important first to address the myth that GPU mining can damage your computer. Or, if you’re already an experienced crypto miner but want to know the best coin to mine with GPU, you’ve come to the right place. A mining rig may seem like an expensive investment, especially in 2022, but if you’ve been thinking about getting into cryptocurrency mining but aren’t sure if it’s worth it, we can help.
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