The GTX 1070 is considered the "sweet spot" for mining. There are more powerful cards but they use more power. Electricity costs eat into the mining profit. So that's why that particular card is horribly overpriced at the moment.
The problem is that the more people there are mining a given currency, the harder it is to make a profit because the difficulty goes up. So right now is probably the absolute worst time to be a miner.
It would probably take at least 6 months of 24/7 mining to pay off one of these cards.
Imagine the people who build mining rigs with SIX (or more!!!) 1070 cards. I think they need a 1600 watt power supply to run 6. Probably multiple power supplies chained together for more cards.
> The GTX 1070 is considered the "sweet spot" for mining. There are more powerful cards > but they use more power. Electricity costs eat into the mining profit. So that's why > that particular card is horribly overpriced at the moment. > > The problem is that the more people there are mining a given currency, the harder it > is to make a profit because the difficulty goes up. So right now is probably the > absolute worst time to be a miner. > > It would probably take at least 6 months of 24/7 mining to pay off one of these > cards. > > Imagine the people who build mining rigs with SIX (or more!!!) 1070 cards. I think > they need a 1600 watt power supply to run 6. Probably multiple power supplies chained > together for more cards. > > Also, the motherboard manufacturers have started making boards specifically aimed at > mining. For example, this Asus board that has 19 PCIe slots.... > https://www.asus.com/us/Motherboards/B250-MINING-EXPERT/ > > > Here's a video: > > > Things have gotten a bit crazy.
Insanity indeed. I would love to see their electric bill and what percentage they're getting back in cryptomining.
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