Want to use the graphics card in your PC to mine cryptocurrencies? Save your time. Since the Ethereum Merge, GPU-based mining has become mostly unprofitable for all cryptocurrencies, at least temporarily.

One of the most profitable cryptocurrencies to mine, Ethereum, eventually phased out GPU-based mining on Thursday morning, which will reduce its energy usage. However, the change is bad news for cryptocurrency miners who use Ethereum as their primary source of revenue.

One miner named Philip Robb claims that (The Merge) completely wiped everything out. Everything I own is currently idle.

Initially, a lot of miners hoped to switch to alternative cryptocurrencies that can also be mined using PC graphics cards, such Ergo and Ravencoin. But compared to Ethereum, which is presently valued at over $1,500, mining these currencies is not profitable because they are worth only a few dollars and pennies.

Today, we attempted to mine Ravencoin using an Nvidia RTX 3080 graphics card, but we soon recognized it was a losing endeavor. The mining program estimates that we would only earn between $0.13 and $0.26 per day, before deducting the high electricity prices in California, which would very certainly lead to a net loss.

WhatToMine.com (Opens in a new window) demonstrates that GPU-based cryptocurrency mining is now unprofitable if done from California. If you are in a state with cheap electricity rates, it only turns into a profitable endeavor with a few coins. Even still, depending on your hardware arrangement, profitability is still in the pennies, a far cry from the several dollars you could have earned mining Ethereum in the months prior to the Merge.

turn off (Opens in a new window) their rigs in an effort to reduce their electricity expenses due to the non-existent profitability. Others are getting ready to offer their unused PC graphics cards for sale to customers on Facebook and eBay. One miner, who wished to remain unnamed, claims that no one is now profitable. I’ll shortly begin selling the machinery. I think I have fifty GPUs.


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