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GeForce RTX 3080 has become incredibly profitable for mining — the shortage of video cards will become total
American enthusiast Simon Byrne built a mining farm with 78 GeForce RTX 3080 video cards. It turned out that against the background of the rise in the price of Ethereum, video cards can bring owners up to $ 21 thousand per month. This means that the crypto farm is able to recoup itself in six months, writes VideoCardz.
At the current price of RTX 3080, the creation of such a crypto farm is estimated at about $ 100 thousand: $ 93.5 thousand for video cards ($ 699 each) and another $ 6.5 thousand for power supplies and design. Taking into account the electricity costs in Las Vegas (8.4 cents per kWh), the owner’s income, when mining Ethereum, will be from $ 15 thousand to $ 21 thousand. Thus, the created farm pays for itself in 6.6 months.
According to 2CryptoCalc, when mining Ethereum, each GeForce RTX 3080 is able to bring the owner about $ 11.6 every day, excluding electricity costs.
This became possible against the backdrop of the rise in the value of Ethereum. Yesterday, January 4, the cryptocurrency entered the top 100 most expensive assets on the planet. Its value peaked at $ 1140 per unit, and its total capitalization reached $ 125 billion. At the time of writing the news, the price of the cryptoasset has been adjusted to $ 1037. According to CNBC, the growth happened after the rise of Bitcoin, the price of which exceeded $ 34 thousand on January 3.
Rosenberg Research President and Lead Economist at Merrill Lynch Bank David Rosenberg calls the rise in cryptocurrency value «abnormal». He stated that a bubble has formed in the cryptocurrency market due to which many assets are overvalued by 20-30%. He also noted that growth continues despite the difficult state of the global economy.
Against this background, we can assume that in the event of a new cryptocurrency boom, we will face an even greater shortage of video cards. Although the latest generation graphics accelerators from both AMD and NVIDIA are already very difficult to buy now, cryptocurrency miners can create even more problems for players who want to buy a new graphics card.