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- With GPU mining gaining popularity, miners are looking for the latest technology for verifying complex electronic transactions using computer components
- Acute shortage of the new graphic cards forcing miners to explore other options at a quicker pace
Establishing Massive Ethereum GPU Mining Farm in China
There has been a massive explosion in the rate of Ethereum trading since last year, due to the increasing popularity of GPU mining. Miners are getting their hands on just about anything, especially NVIDIA’s GeForce RTX 30 series GPUs. Currently, cryptocurrency mining farms utilize the desktop graphic cards but since these cannot be purchased in bulk quantities. Users are now getting their hands on the latest laptops featuring the same chips.
The announcement of this technology turned out to be a rage and several models are being sold at various retail outlets around the globe. The laptop market could witness severe shortages in the upcoming months as the crypto boom continues and miners dry up the supply.
The mining rig as displayed in the image consists of over 40 laptops from Chinese Brand and features the GeForce RTX 3070 mobility GPU. The GeForce RTX 3060 laptop solution is not similar to the desktop variant which offers improved specifications and is not at a lower price. The RTX 3060 laptops start at $999 and the miners can consider bulk purchase and end up paying at least $600 more for the laptop variant. Additionally, laptop variants feature reduced TGPs [Total Gas & Power] which might save electricity costs and offer higher crypto mining rates.
For providing optimal cooling and ensuring the GPU’s function 24/7, Laptop should be maintained in a tent mode. The exhaust vent is made out 32 fans of 120 mm fitted within the window to exhaust the heated air out of the room. Another interesting feature upon certain tests conducted show that the chip was able to mine Ethereum at 0.00053009 rates in 2 hours.
Earnings Breakdown
User experiences have indicated the best estimate the average GeForce RTX 3060 laptop can produce:
- 0.000265045 ETH per hour
- 0.00636108 ETH per day
- 0.1908324 ETH per month (30 days)
- 2.3217942 ETH per year
Let’s assume the mining rig with 20 Hasee laptops at current prices, may lead to below costs:
- $8.908 per hour
- $213.80 per day
- $6,413.87 per month (30 days)
- $78,035 per year
On average electricity costs in China will approximately cost USD 0.084 per kWh.
Assuming each laptop uses about 250 watts of power (including any external fans), it works out to about USD3,679.20 per year.
So the net profit for the 20-laptop mining rig would be USD74,356 per year, at current prices. The return on investment would be an incredible 30.8% per month. Assuming, the total costs of the entire rig would be around USD20,000, this amount would be recovered in under 4 months.
Demand-supply mismatch is definitely going to be a tricky situation and may lead to price hikes for graphics cards. However, this product is a boon in the current situation and further improvements or alternatives are expected to come out in the market soon.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
