Is Ethereum mining profitable?

October 17, 2022 0 Comments

Is Ethereum mining profitable?

Yes, it is profitable whether proof of work or staking. For proof of work to be profitable, the cost of electricity needs to be around $0.15 and the GPU should work at a decent hashing rate.

For instance, you would need at least a GTX 1650, which functions at a hash rate of about 25.2 MH/S when mining Ethereum.

Using Ethereum mining profitability calculator, a used $180 NVIDIA GeForce GTX 1650 with a hash rate of 28.2 MH/S using the Ethash algorithm can generate a daily profit of $1.71 on a mining pool. That pays it back in 8 months.

However, a new $1755 NVIDIA GeForce RTX 3090 can generate up to $7.33 in profit per day.