Ethereum mining at home

[bkelly]

I am considering buying a dedicated miner for Ethereum and work it for several years.  I can be persuaded to change tactics. 

I am looking at Innosilicon A10 Pro at 720 Mh per second.

What I cannot find is the number of M hashes needed to resolve one block.  To my way of thinking, number of hashes needed divided by the miner’s hash rate, results in the time needed to create one block and be rewarded with some coin.  I found a profit calculator on line but it keeps the number of hashes needed hidden.

Where can I find that number?  Yes, I see that the number can change, probably daily, but still, what is that number as of today, 6 Feb 2021.  At 6:00 PM Pacific time if that matters.

Is this a question that should not be asked?  I wonder because I have not been able to find the number.

[Giangphuong8489]

Perhaps you are aiming for the huge rewards that ETH miners received last week when transaction costs became extremely expensive. However ETH2.0 will soon apply POS right this year, I am afraid that you will not be able to mine Ethereum through POW anymore. With that money, you can consider buying ETH & staking in large pools for a profit.

[bkelly]

Perhaps you are aiming for the huge rewards that ETH miners received last week when transaction costs became extremely expensive. However ETH2.0 will soon apply POS right this year, I am afraid that you will not be able to mine Ethereum through POW anymore. With that money, you can consider buying ETH & staking in large pools for a profit.

I had not noticed that, but still am considering mining.  I do not recognize an answer to the question.

[MrSpasybo]

You can check here https://etherscan.io/
At the moment: DIFFICULTY 4,805.04 TH || HASH RATE 384,437.60 GH/s
Average block time = DIFFICULTY : HASH RATE = 12.5 s

Your hash rate = 720 MH/s
So you can get 720 MH/s : 384,437.60 GH/s = 0.000187%

Average block reward = 5 ETH = $9,000 (1ETH ~ $1,800)
You can get 0.000187% from 9000 USD = $0.017 per 12.5 s = $116.3 per day

Price for Innosilicon A10 Pro = $4,388.00.
If you don't pay your electricity bill, you will recover capital after: 38 days

A great trading plan, hope I don't go wrong somewhere.

[Malam90]

You can check here https://etherscan.io/
At the moment: DIFFICULTY 4,805.04 TH || HASH RATE 384,437.60 GH/s
Average block time = DIFFICULTY : HASH RATE = 12.5 s

Your hash rate = 720 MH/s
So you can get 720 MH/s : 384,437.60 GH/s = 0.000187%

Average block reward = 5 ETH = $9,000 (1ETH ~ $1,800)
You can get 0.000187% from 9000 USD = $0.017 per 12.5 s = $116.3 per day

Price for Innosilicon A10 Pro = $4,388.00.
If you don't pay your electricity bill, you will recover capital after: 38 days

A great trading plan, hope I don't go wrong somewhere.

That's perfect answer that i was expecting. I had little bit confusion and floating knowledge on it.  +1 for contribution.

[Zixr]

You can check here https://etherscan.io/
At the moment: DIFFICULTY 4,805.04 TH || HASH RATE 384,437.60 GH/s
Average block time = DIFFICULTY : HASH RATE = 12.5 s

Your hash rate = 720 MH/s
So you can get 720 MH/s : 384,437.60 GH/s = 0.000187%

Average block reward = 5 ETH = $9,000 (1ETH ~ $1,800)
You can get 0.000187% from 9000 USD = $0.017 per 12.5 s = $116.3 per day

Price for Innosilicon A10 Pro = $4,388.00.
If you don't pay your electricity bill, you will recover capital after: 38 days

A great trading plan, hope I don't go wrong somewhere.

Thank you very much.Ethereum Mining has a very nice detailed discussion.I think he can understand everything from here.This comment is perfect for this topic.Here is a nice way to talk about etherium mining.

[MrSpasybo]

Thank you very much.Ethereum Mining has a very nice detailed discussion.I think he can understand everything from here.This comment is perfect for this topic.Here is a nice way to talk about etherium mining.

Actually, what we calculate is for reference only, there are some problems that will directly impact the profitability of the mining process:
1. HASH RATE & DIFFICULTY are not fixed
2. Block reward: 4.2 ETH - 5.6 ETH. Min gas price is always greater than 100 Gwei. It can be said that transaction costs are insanely high 
3. Block time: 2-42 s 
4. Maintenance costs
5. Electricity cost: P = 1000 W => A = 24 kWh per day = $2.4 per day (1kWh ~ $0.10)

[debra]

Is mining right now still working and also profitable? We know that the fee for mining is very high especially related to the electricity costs This always becomes the big matter of mining. However if mining ETH can happen and the costs are loser, why not? This may be suited for you and promising the results.

[Magepai]

You can check here https://etherscan.io/
At the moment: DIFFICULTY 4,805.04 TH || HASH RATE 384,437.60 GH/s
Average block time = DIFFICULTY : HASH RATE = 12.5 s

Your hash rate = 720 MH/s
So you can get 720 MH/s : 384,437.60 GH/s = 0.000187%

Average block reward = 5 ETH = $9,000 (1ETH ~ $1,800)
You can get 0.000187% from 9000 USD = $0.017 per 12.5 s = $116.3 per day

Price for Innosilicon A10 Pro = $4,388.00.
If you don't pay your electricity bill, you will recover capital after: 38 days

A great trading plan, hope I don't go wrong somewhere.

Thank you so much for giving me an important post about mining. Hopefully he will be completely clear about mining if he can read your post nicely. Manik has made a really awesome post about relationships. I hope that if anyone has difficulty in understanding, you will definitely understand your post after reading about mining.

[MrSpasybo]

Is mining right now still working and also profitable? We know that the fee for mining is very high especially related to the electricity costs This always becomes the big matter of mining. However if mining ETH can happen and the costs are loser, why not? This may be suited for you and promising the results.

This is a good stage to mine because transaction fees on the Ethereum network are at a very high level, you can check it here: https://etherscan.io/gastracker, regular gas fees above 50 gwei, even reach 1000 gwei. Whereas just 2 years ago we only had to pay 5 gwei per transaction.
Even old mining systems can still be profitable.
The energy issue: you will be more profitable using clean & cheap energy sources such as wind & solar.

Thank you so much for giving me an important post about mining. Hopefully he will be completely clear about mining if he can read your post nicely. Manik has made a really awesome post about relationships. I hope that if anyone has difficulty in understanding, you will definitely understand your post after reading about mining.

You can refer to MinerGate's calculation table for more information: https://minergate.com/calculator/ethereum.
At this point you can even mine up to $200 per day with the device having capacity of 720 MH/s.

[Review Master]

This is a good stage to mine because transaction fees on the Ethereum network are at a very high level, you can check it here: https://etherscan.io/gastracker, regular gas fees above 50 gwei, even reach 1000 gwei. Whereas just 2 years ago we only had to pay 5 gwei per transaction.
Even old mining systems can still be profitable.
The energy issue: you will be more profitable using clean & cheap energy sources such as wind & solar.

+1
Indeed, it's the most profitable time for mining ethereum and current situation might continue until 2021 as ETH2.0 is needed more time to implement successfully. BTW, i tried to buy "RX 5500 XT" gpu to make a mining rig,but it looks like GPU price are skyrocketing just like ethereum gas fee in my country. But i hope to see a price drop into GPU price so that people like me can make a small rig to take advantage of current situation. Also, renewable engery is the best option for both miners and nature, IMO.

[bitcoin-shark]

ethereum mining will end in two years at the latest with the introduction of eth 2.0 it will pass from pow to pos mining will no longer be possible then in July the eip-1559 will be introduced which will reduce the miners' earnings in half it is worthwhile to mine as long as possible because the earnings are high but also perhaps it is better to orientate in time on some other coin

[Giangphuong8489]

I believe that mining ETH is still highly profitable during this time, and miners can continue to mine for more profit. Then when ETH2.0 is completed, miners can use the ETH to go into the staking pools and then use the mining system to join another POW blockchain.

[kiwa]

Perhaps you are aiming for the huge rewards that ETH miners received last week when transaction costs became extremely expensive. However ETH2.0 will soon apply POS right this year, I am afraid that you will not be able to mine Ethereum through POW anymore. With that money, you can consider buying ETH & staking in large pools for a profit.

youre true after eth replace from pow coin to pos coin, eth can not mining but replace to stake coin

[bkelly]

Good answers here.  Now the question is: WHEN will ETH go to the POS?
I have been searching for articles on that, but nothing definitive.

I remain a beginner here but read the tea leaves as saying that the shift to POS eliminates the mining of ETH.  The question then becomes, in part, can the same mining hardware work for other coins.

I have close to 30 ETH and think that sitting on them for a bit is a good idea.  Along with looking for other coins to buy/hold and/or mine.  We live in the desert with a couple of Kw of solar panels so that tilts the table a bit towards mining.