The market is still faltering in the months after a few months Best graphics card Sell directly to the mining business, not to mention that the scalpers are jumping around on most of the available graphics cards, just wanting to make a profit easily. Now, to make matters worse, a Vietnamese retailer has successfully subdued the legendary Asus Gundam, making it a poor slave in prefabricated mining equipment. Oh, how low the hero has fallen.
As the market begins to replace existing RTX graphics cards with Lite Hash-Rate (LHR) graphics cards, some brave miners are still investing in mining equipment. For those people, non-LHR cards are the most important. Therefore, some retailers hope to take advantage of the remaining mining demand by pooling as many non-LHR GPUs as possible and sell them as part of pre-built mining equipment.
These Gundam graphics cards are part of ASUS limited editions and can usually be sold for around US$2,300 on resale sites such as eBay. The pre-assembled mining equipment with eight Gundam graphics cards? At current market prices, its cost is only $18,000-of course, this does not include the remaining hardware that constitutes the mining equipment.
However, do these pre-sold mining equipment have any economic sense? At the current Ethereum price, there will definitely be a profit. However, the daily return per card is now only $5-this applies to non-LHR RTX 3080 graphics cards. This means that miners buying one of the GUNDAM graphics cards at the current price of $2,300 should see a return on their investment in about 460 days, although this assumes that the price of Ethereum and mining rewards remain unchanged.
Pricing is not really predictable, but mining rewards? Over time, these tend to drop directly to zero profitability, and now the situation with Ethereum mining is even worse. Regardless of the pricing, planned changes to the Ethereum protocol will destroy mining profitability.
Currently, Ethereum will undergo two updates, which will destroy the profitability of mining. The first EIP 1559 is part of the upcoming London hard fork, which will change the way Ethereum handles transaction fees. Previously, this process was manual, and the miners received the value of Ether equivalent to these fees as a reward, but the Ethereum network now sets a basic minimum fee for transaction completion. Then the network will destroy the promised Ether in this way, and only use the excess Ether to reward the miners, effectively reducing the miners’ profits.
The bigger transaction is the planned Ethereum 2.0 network, which will transition from the current proof-of-work paradigm to proof-of-stake. This will basically eliminate the need for miners to perform expensive calculations that write transactions to the blockchain to ensure their safety. Other coins can still be mined in the old-fashioned way, but the current profits are much worse. For example, Conflux (Octopus) only generates about $3.35 a day on the RTX 3080, while Ethereum generates $5 a day.
Once Ethereum gives up proof of work, perhaps earlier, these Gundam heroes may take off again. But after working in a dark mining cave until their lives are less than an inch, they may have nothing more to give but a few breaths. Weep for these poor, fallen heroes. May they rest in peace.