Bitcoin mining company boasts $30 million spend on Nvidia CMP GPUs

[Lone Wolf]

https://www.pcgamer.com/uk/bitcoin-mining-company-boasts-dollar30-million-spend-on-nvidia-cmp-gpus/


That's at least 18,000 graphics cards in one single order, for a total of 1,600 Gigahash of mining power.

pc gamer link is clean.

[Monk]

Escrito originalmente por Vulkan:

Pure ♥♥♥♥♥♥♥ greed is what it all boils down to. Going to be nothing left for future generations because of theses parasites

Could be far worse, like vegans or people who eat avocado's, both have a far worse impact on the environment.

Also, its profitable, you can't blame people for wanting to earn money.

Hell, I bet if most of you could get hold of and afford to run 20+ gpu's you would if you were being honest, I sure as hell would be, especially in the current global poop show.

[Carlsberg]

Escrito originalmente por carl:

I was under the impression that developers of the latest AAA games have console first in mind where the current generation of consoles has ray tracing capabilities.

I also hear it theorised that since consoles use AMD hardware it should benefit AMD more than Nvidia GPUs but I have yet to see that materialise.

Not sure about first but certainly they are cheaper to cater to imo, all hardware is a known qty and software can be written for the masses so to speak. There are many different pc's and its not so easy which is why we have things like direct x and such, it gives them a standard to follow.

[Carlsberg]

Escrito originalmente por Monk:

Hell, I bet if most of you could get hold of and afford to run 20+ gpu's you would if you were being honest, I sure as hell would be, especially in the current global poop show.

Could run the pipes from the water coolers around my house and recoup some expense on not paying heating bills. :)

[Azza ☠]

Good for them...

With $30 million, you could of invested in rental properties, using less power and homing others people, while still making around the same passive profit or more. What are they boasting about?

However, lets say you are just a single person with a single Bitcoin miner and graphics card...

Here's you profit calculation:

Passive income...
Per Day: 0.00007336 = $4.22
Per Week: 0.00051350 = $29.55
Per Month: 0.00223007 = $128.31
Per Year: 0.02679390 = $1,541.63

Minus expenses...
Revenue: 0.01546950 = $890.06
Hardware: 0.03455101 = $1,987.95
Power: 0.02968889 = $1,708.20
Pool Fees: 0.00030939 = $17.80

Overall...
Profit: -0.04907979 = -$2,823.89

Final difficulty: 8.23E+13
Difficulty growth: 356%
Power consumed: 11,388 kWh
Hashes calculated: 4.26E+20

Break even: Never

Make sure you are in the right country with cheap-o power costs, otherwise you end up spending more than you make. Just a waste of heat, noise and power.

Now that company has $30 million in hardware cost expensives, plus more for the Bitcoin motherboards. Then add on the power costs and server room storage. The air cooling system. It will take them years to make that back, while at the same time the difficulty growth increases on Bitcoin. Good luck. You should of started back in 1996.

[Monk]

It's probably for etherium and other coins which are very profitable right now, a 3090 makes around $10 a day, so even with electricity that's 250 a month, per-card atleast, so given they would of bought them below retail for that size bulk order, if it was all 3090's, it would only take 5 months to pay for themselves, less if you include resale value.

Beyond my basic napkin math here, I'm pretty sure anyone investing 30million has run the numbers and are happy with the risks.

If you have a 2080ti or a 30 series card and aren't mini g on it in your down time, you are throwing money away.

I'm mining on my 3090's and my 1080ti's are basically covering the electric bill for them :)

[iceman1980]

Escrito originalmente por Carlsberg:

Escrito originalmente por Monk:

Hell, I bet if most of you could get hold of and afford to run 20+ gpu's you would if you were being honest, I sure as hell would be, especially in the current global poop show.

Could run the pipes from the water coolers around my house and recoup some expense on not paying heating bills. :)

I actually entertained this idea for real heating cities with the waste heat generated by data centres would be very effective.

[Carlsberg]

Escrito originalmente por Product ∏:

Escrito originalmente por Carlsberg:

Could run the pipes from the water coolers around my house and recoup some expense on not paying heating bills. :)

I actually entertained this idea for real heating cities with the waste heat generated by data centres would be very effective.

A lot of data centres already heat surrounding buildings, homes and swimming pools with the excess heat they generate, theoretically several together can really warm up a city. Part of the global issues we currently face in the interests of the $.

[r.linder]

Escrito originalmente por Product ∏:

Escrito originalmente por Carlsberg:

Could run the pipes from the water coolers around my house and recoup some expense on not paying heating bills. :)

I actually entertained this idea for real heating cities with the waste heat generated by data centres would be very effective.

It's too bad that most industrial, corporate, and government factions don't care nearly as much as they say they do. If they did, environmental issues wouldn't be a daily topic of concern and laws protecting the environment would be far more strict.

We've made very little actual progress in the decades since environmental issues (like with the earth's ozone layer) were discovered. The same people that say they care enough to do something for the environment are just lying through their teeth; they don't want to do the right thing because it means less profit for them, for one reason or another.

Take Nestle for example, the less fresh water there is, the more valuable of a resource it becomes, and Nestle pretty much owns the majority of it across the world. The more people need it, the more valuable it becomes, and that means they profit more from that need, especially if they have methods of producing water that they don't want the public to know about.

The only people making real changes for the environment are typically ordinary people with very little actual influence that came up with a good idea and worked hard to make it happen.

[Monk]

Got to disagree there to a point, the west has made huge strides in cleaning up how we run industries (would be better still if we could just embrace nuclear), the problem is largely the rest of the world not doing anything, India and China are the worse producers abd until they clean up their act frankly anything we do in the west is a drop in the bucket.

[iceman1980]

Escrito originalmente por Monk:

Got to disagree there to a point, the west has made huge strides in cleaning up how we run industries (would be better still if we could just embrace nuclear), the problem is largely the rest of the world not doing anything, India and China are the worse producers abd until they clean up their act frankly anything we do in the west is a drop in the bucket.

Yeah but China's justification is "OH WE HAVE more PEOPLE" therefore our emissions are higher. Most of China's energy comes from coal lots of coal. Whats worse is China is pumping nearly 47% of it's entire energy production into mining bitcoin using ANT miners.

I'm sorry I think cryptocurrency needs to go. Scalpers made off with all the videocards that were left after the miners and miners just burn electricity. One guy has a farm of 78 videocards

https://videocardz.com/newz/this-geforce-rtx-3080-ethereum-mining-rig-now-makes-20k-per-month

You know how people talk about "honest work" there is nothing "honest" about these farming monsters. For people who want to use "get rich quick schemes" The underlaying technology behind the cryptocurrecy I support "Block Chain Technology" I do not support Cryptocurrency.


Etherium needs to die. Nvidia and AMD need to completely lockout gaming videocards from being used for cryptomining.

[Guydodge]

while 18,000 cards seem like a lot its really not.and most think there was a shortage to
start with when really its demand that cause the shortage.due to people buying gpus,consoles
and cars in record numbers.due to the pandemic. they all exceeded their yearly forcast and with the silicon factories manufacturing levels at 100% theres no way to meet the demand.this will
continue well into 2022.

[Pocahawtness]

Escrito originalmente por plat:

What irks me is that this info doesn't change anything for us non-miners, it rubs salt in the wound because we gaming consumers are seemingly no closer to getting our fair crack at new gpus. It's still off in some nebulous distance.

Yet NVIDIA is wasting no time fulfilling this huge mining order, to be starting May 2021 the article says. Thanks a lot NVIDIA, your priorities and loyalties are messed up for sure.

Edit to correct a factual error.

Make no bones, NVIDIA claim to be on the side of the gamer, they most certainly are not. They are on the side of profit.

[carl]

https://youtu.be/9YqUGrZ-HQA

I hadn't realised that crypto mining is banned in some Chinese provinces.

[Tiberius]

Ppl are so quick to forget that gtx10xx also suffered the same condition and we didnt have pandemic that time

[ngf]

I still really can't believe my 2.5 year old 2070 is still the same price today as when I bought it brand new. (Technically no longer in stock but some retailers still had it up until recently.)