Ethereum: Can you make a profit mining with CPU/GPU? [duplicate]

Can You Make a Profit from CPU/GPU Mining?

As more and more people turn to mining as a way to generate income, many are left wondering if it is still profitable to mine Ethereum using their computers or graphics cards (GPUs). In this article, we will examine the hashrates of popular cryptocurrencies such as Bitcoin and Litecoin and use them to calculate whether CPU/GPU mining can be profitable.

Hash Ratings

We are given some impressive hash rates for various cryptocurrencies:

• Radeon HD 7950: around 600 MH/s (Megahash per second) for Bitcoin

• Radeon HD 7950 (again!): around 600 KH/s (Kilohas per second) for Litecoin

For those who are not familiar, here is a quick explanation of the different units of measurement:

• MH/s = Megahash per second: a measure of how many calculations a core can perform in one second

• KH/s = Kilohash per second: a measure of how many calculations a core can perform in one kilohash (a 16-bit number)

Calculating Profitability

To determine if CPU/GPU mining can be profitable, we need to calculate the revenue from the hash rate. We will use the following formula:

Revenue = Hash Rate x Time

We are not given the time it takes to mine a block or coin, but we can estimate it based on the block reward and the number of miners.

Assuming an average mining time of 1 minute per block (rough estimate) and using the block rewards for Bitcoin and Litecoin:

Bitcoin:

• Block reward: 6.25 BTC

• Hash rate: about 600 MH/s x 60 minutes = 36,000 MH/s

Revenue = 36,000 MH/s x 0.06148 = $2,222.88 per hour

$2,222.88 per hour / 8 hours per day = $279.31 per day

Litecoin:

• Block reward: 6.25 LTC

• Hash rate: about 600 KH/s x 60 minutes = 36,000 KH/s

Revenue = 36,000 KH/s x 0.06148 = $2,222.88 per hour

$2222.88 per hour / 8 hours per day = $279.31 per day

Conclusion

While the revenue projections are promising, it is important to note that these calculations assume a specific mining setup and block reward distribution. Actual profitability from CPU/GPU mining may vary depending on a variety of factors, such as:

• The age and condition of your hardware

• The complexity of the hash function (a more complex algorithm requires more powerful hardware)

• Competition from other miners

In conclusion, while it is theoretically possible to make a profit from CPU/GPU mining, the estimates we have provided are likely underestimates. To achieve significant profits, you will need to upgrade your hardware and have a strong network of partners to compete against.

If you’re interested in trying your hand at mining Ethereum or another cryptocurrency, consider investing in a high-performance GPU or AMD Ryzen CPU for better performance.