How are GPU Mining Profits Now? January 2024

πŸ’‘Tryout HIVEOS Entirely Free:

[Music] hey guys RPM here hope you're doing well having a really great day I hope you all had a wonderful New Year's this video I just wanted to go through how GPU mining is now the beginning of January of 20124 this is a great start to the new year and I just want to go through some profit numbers how it's doing now talk about my rigs what I'm mining right now and also go through what you know General prices are for gpus because I feel pretty soon we're going to see some higher prices for gpus coming up if the market is continuing to go up like Bitcoin Bitcoin is over 45,000 all right the beginning of January January 1st we saw the market go up that's pretty positive that's pretty bullish but I think the main reason for that is going to be the Black Rock ETF apparently there was a leak regarding the ETF news since the Bitcoin price has surg they said here over 45,000 per Bitcoin as expectations soore the US Securities and Exchange Commission SEC could approve a slate of Bitcoin ETF applications as soon as this week so that is probably why we saw a jump up in price of Bitcoin here but not only that mainly for us GPU miners or maybe even Asic miners we've seen also a price jump in a lot of different proof of work coins over the past 24 hours on January 1st okay so we're seeing yeah we're seeing a lot of coins a lot of proof for coins been going up and what's Happening Here is also causing the profitability to go up for GPU mining okay so I want to go through that but just quickly going through some other stuff here regarding the Bitcoin ETF news I saw on Twitter at Bitcoin magazine just in they said spot Bitcoin ETF applicant and Galaxy CEO says big things coming this is this is posted January 1st at 11:08 a.m.

And then there's another one here from Bitcoin archive they said breaking Black Rock sources say SEC will take until end of next week to approve the Bitcoin ETFs Fox Business so if that's the Catalyst here for the market to go up well there it is right the ETF the Bitcoin ETFs could be upon us very soon and another Catalyst for the Bitcoin price coming up the next couple months is going to be the Bitcoin having so we're going to see how things play out here it could be pretty insane or it could be simply a buy the rumor sell the news type of play here that's been happening we don't know until it happens but as GP miners as crypto miners for ourselves you guys know or understand the strategy here of you know mining and holding and you know if the market goes up then we do well and as well if it goes up at the same time with our gpus our our gpus our Hardware is also going to make a profit at the same time so it's a win-win either way right win-win either way but if the market does go down then we got to put our foot down and just keep on accumulating and simply have patience for the bull run but anyways let's go through how GPU mining profits are now all right so with a lot of different proof of work coins GPU minable coins might I add over the past 24 hours have generally been going up so if Bitcoin has gone up almost 7% we've been seeing a lot of different proof of work coins GP minable coins also going up so we got ravencoin we got F we got ethereum P vertcoin right cortex Caspa which is Asic minable now mainly but still a coin that is prominent is going up Kelly sto Game Pass meow coin Nexa you know very prominent coin Caden that's an Asic coin iron fish they may be moving to a new algorithm very soon that's up 16 177% Chlor right Capal coin piin pretty much new Caspa Fork that came out recently and is uh generally pretty profitable right now we'll talk about that in a sec AI power grid also came out out of nowhere it's been doing pretty good we got Kyla coin and also kium I don't know if I pronounced that right 41% over the past 24 hours which I believe this is a eash eash coin so anyways going to Hash rate.

Okay just generally looking how profitability is right now so obviously the bigger boy cards 490s 390s you know looks like they're making a couple bucks a day if you had free Power if you had 15 cent electric okay right now generally which just a disclaimer there sometimes are lagging numbers here so what I'm looking at here right now versus the coin gecko numbers that you see here may not translate over to Hash rate. even though it could be the current time frame but in some cases I have seen it lag now I don't know if that's a programming issue on their end maybe they're fixing it on the fly so take these profit numbers just as a general number you know it could be off a couple cents could be off 10 20 cents as a lot of people will go to you know these types of sites and you'll will see that aipg is the most profitable everyone's going to flock over to it or appearer in and then in that same day maybe less than 6 hours 12 hours The Profit numbers are going to change along with the price the price is very volatile along with these you know different proof of work coins right so again just take these numbers as general numbers as it can change on the Fly within the same day okay just giving that disclaimer there just a snapshot right now you know if you had 15 cent per kilowatt hour you know and you had you know 6,000 Series gpus 30 series gpus and above you are generally profitable you know 307s are making 61 cents profit on aipg which is a kapow coin okay mind you um I know a lot of people may not want to to run their Nvidia cards on kapow cuz it is pretty hot so the next best coin that's not kapow okay algorithm was probably going to be pin Pyon I don't know if I pronounced that right pretty much a core dependent algorithm which runs much less wattage all right so looking at you know just looking at a difference here if you're mining uh I don't know game pass on a 3070 it would take about what 150 watts but you would generally be you know profiting at 15 cents you'd be profitting about 42 cents but if you look at puran you would be profiting at about 24 cents okay at 15 C per kilowatt hour but you would use about a good 60 watts less uh than a kapal coin on a 3070 so depending on your infrastructure your setup your your heat your cooling your exhaust fans all that kind of stuff you you probably don't want to run kapow and you're probably going to be mining uh pin for a lot cooler uh temperatures for your gpus but just going back to the whole GPU list here I believe an RX 580 right now is breaking even at 15 cents okay around there around 15 cents okay so really a 6 year old GPU a Powerhouse GPU is profiting only 1 cent at around 15 cent per kilow hour so anyone that's below this right now all right would then be able to profit on an rx580 that's pretty funny to think about I know in the P previous bare Market that you know I know it's it's a different time it's a different time right now because we have a bunch of different proof of work coins uh that have been really prominent I'd say over the past year and uh of course it's not ethereum numbers I know everyone says that we're not at the ethereum numbers yet but it's it's nice to see that over the past year we've had a lot of different proof of work GPU minable coins that have come out and has provided I guess profitability for miners now over the especially over the past I would say half year okay okay so depending on your electrical cost of course cuz that's the biggest Factor here and when deciding uh if you are going to continue to mine or not really for profit or at least breaking even you're holding the coins and waiting for Price appreciation depending what strategy you're trying to do but it's just interesting to see that you know if you had RX 580s at like let's say 10 C kilowatt hour you know you could generally do something with these but you know it's I wouldn't personally go out and buy rx580s but if the B R came around and Bitcoin continues to keep going up and up and up then we're going to see a lot of volume liquidity go into a lot of these other proof OFW coins GP minable coins thus profitability start going up but then of course there's always going to be a ying and yang zero some game you know there's going to be a lot of people that are going to you know start turning their stuff on and depending on people's uh you know electrical cost cost per kilow hour that will obviously cause the difficulty to rise okay so depending on the prices of the coins it's going to be an equilibrium there but a lot of things to consider how many people out there still have their own GPS how many people out there have sold all their gpus you know how how much Hardware is out there waiting on the sidelines to turn on we don't know I mean a lot of people did buy gpus over the past year I would say for gamers because GPU pricing obviously came down a lot after the merge so a good segue into looking at General GPU prices now all right this is a good snapshot that I I love to refer back to these videos especially when you know if the market were going to go up much higher and you know in the future I can come back in this video and say man you know January 1st 2024 people were buying rx580s for $60 who knows maybe in the next six months maybe the next couple months these could be $200 $250 gpus and you know we're looking at hash rate.

In a couple months or six months by now from now and we're going to see you know an RX 580 is going to start making like a dollar a day or something crazy and you know who knows how long that'll last of course but uh granted there's you know a bunch of other gpus that are much more efficient than rx580s which I would highly recommend you know getting more efficient gpus if you can right depending on your electrical cost of course if you had free Power then obviously it doesn't matter what you have just run everything to the ground anyway I like looking at RX 580s as The Benchmark card just to see how GPU prices are because once we look at you know let's say RTX 70s uh these types of prices can vary but it's good to look at this now seeing that some people are buying these for about $300 okay generally $286 $300 for a typical R RTX 378 GB card um let's look at a390 you know this is a good one that some people are buying as well um yeah some people are buying these for $679 uh 950 36 oh shroud only $840 8 okay okay 390s are yeah pretty baller these gpus are being sold for quite a bit um but I'm going to say over 600 bucks for these gpus okay so yeah I just like to look at these just generally and just take a snapshot so I can refer back to this down the road all right I want to end off with my GP mining farm right now what am I mining so I have decided to I've been doing this for maybe I show I've showed this to you guys already I think last month I've decided to try to mine coins on my farm that is low power okay so core dependent coins like pin all right so I'm mining pan right now I am mining it straight to trade ogre and been selling it but even looking at right now I've been seeing that pin has gone up 31% okay over the past 24 hours so that you know profitability for mining pering now has probably gone up and I don't know if uh hash rate.

Is going to see that but it's probably going to climb the charts here uh who knows but I mean generally a lot of other coins here it looks like we got a lot of you know Prague pal capow coins that have also gone up as well AI power grid we got chor right we got uh Game Pass 10% you know these coins Capal coins have been really prominent over the past year and if you are mining these coins even like neoa you know they've those projects have done really well really really well so going back to my hios here so most of my yeah pretty much all of my Nvidia cards I'm just mining into puran I'm mining into trade ogre selling it into usdt and then I'm buying other coins that I feel that could maybe do better and I've been selling about I would say a good 50 maybe 30 to 50% for my electricity bill because right now for all these GPU mining rigs right now it's at about 8 cents USD for me so I am generally making I would say yeah profit from these gpus so a $39 for me right now for mining purin is making about 81 cents a day on a single 3090 so that's what I've been generally doing for my Nvidia cards now my AMD cards I have a bunch of 5700 XTS and also Radeon 7s my Radeon 7s I've been mining a lithium on my radon 7s for a good while now and just Mining and holding a lithium all right and then my 5700 XTS this is where I am mining a Capal coin which is going to be narai narai is one where at just Mining and holding it and just seeing where it goes I think naray could be a prominent you know kapal coin just my opinion we'll see how it goes in the Bull Run of course and just checking you know narai here it looks like it's gone up 6% over the past 24 hours so who knows maybe I should move to you know clor I might do that just to have more clor have more you know Capal coins under my belt but you know my generally my AMD cards are really efficient and cool on kapal coins okay so my 6700 XTS mining nuai right now and my 5700s are on uh narai as well okay for now just giving you guys an update there not telling you guys to go mine these coins you guys should definitely go mine the coins that you want and uh everyone has a different strategy especially if you know mining the most profit profitable coin may not be the most lucrative idea you know maybe the the idea right now is to mine a coin that's not on the top of the profitability list and you know just yield as much as you can cuz you never know if one of these coins could pop off that are not at the top of the charts in terms of profit right that right now their difficulties could be really low and that could be a better and that is actually sometimes a better opportunity in a way because uh you know depending on how many of these coins can go up 5x or 10x you just don't know but for me like I said I'm trying out this approach of trying to you know mine a uh low power coin that's generally profitable and then I can swap it into some something you know like radiant or something that has potential that I like I don't know so we'll see how that goes all right guys let me know your thoughts let me know how you guys are seeing uh GPU mining is right now obviously it's been going up it's been doing good because Bitcoin is going up in my opinion U provides volume liquidity for the whole market for the exchanges so we're going to see some crazy time some crazy times here especially if the uh Bitcoin ETF is going to be a Catal list uh for the market here over the next week time will tell but stay reserved everyone and I know everything is looking pretty nice and bullish right now try to keep your expectations at Bay try not to fomo but do things at your own risk and your own risk tolerance all right happy mining everyone enjoy your day thank you for watching let me know your guys' thoughts have a good one peace out

As found on YouTube

You May Also Like

Leave a Reply

Your email address will not be published. Required fields are marked *