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Mining Ethereum on M1 Mac GPU

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Re: Mining Ethereum on M1 Mac GPU

#61

Post by onlyrealcuzzo »

speedgoose wrote: post #38
toomim wrote: post #2

> Is it worth it? > Um. Not really. At current Ethereum prices (2021-02-26), it generates $0.14 of profit per day. It’s still a profit, but very miniscule. The real question is if it makes more money than it costs in electricity. Apple claims it uses 39 W max. That adds up to 0.936 kWh of electricity per day, which we can approximate at 1 kWh. Electricity prices range from ~4¢ to ~20¢ per kWh in the USA, which means…

And you don't take into account the environmental cost.

More importantly, depreciation / amortization of the laptop

Re: Mining Ethereum on M1 Mac GPU

#62

Post by tomgp »

toomim wrote: post #2

> Is it worth it? > Um. Not really. At current Ethereum prices (2021-02-26), it generates $0.14 of profit per day. It’s still a profit, but very miniscule. The real question is if it makes more money than it costs in electricity. Apple claims it uses 39 W max. That adds up to 0.936 kWh of electricity per day, which we can approximate at 1 kWh. Electricity prices range from ~4¢ to ~20¢ per kWh in the USA, which means…

Re the capital cost: Assuming profit of 10c/day and that an M1 mac is about $1000 it'll be about 274 years before you pay that off.

Re: Mining Ethereum on M1 Mac GPU

#63

Post by kabes »

fy20 wrote: post #55
CallMeMarc wrote: post #5

Earlier quoted context omitted.

Is electricity really that cheap in the USA? The cheapest price I've found for my city here in Germany is like 0,24 EUR. And this is already including a new customer discount and cashback. Not even guaranteed green energy... 0,24 EUR is currently ~0,29 USD. That's 0,29 USD for my cheapest price against your most expensive price with 0,20 USD.

Here in Lithuania it's ~€0.18/kWh for peak rates. That includes all connection and admin fees, which in the US is usually billed as a separate line item. Most of our electricity is imported from Sweden. Our media keeps saying we have the highest electricity prices in the EU, but I guess not :-)

Germany, Denmark and Belgium are all bordering 0.30/kwh. Cheapest is Bulgaria around 0.10. So Lithuania pricing seems to be quite average. Maybe they mean highest relative to average income?

Re: Mining Ethereum on M1 Mac GPU

#64

Post by fulafel »

CallMeMarc wrote: post #5
toomim wrote: post #2

> Is it worth it? > Um. Not really. At current Ethereum prices (2021-02-26), it generates $0.14 of profit per day. It’s still a profit, but very miniscule. The real question is if it makes more money than it costs in electricity. Apple claims it uses 39 W max. That adds up to 0.936 kWh of electricity per day, which we can approximate at 1 kWh. Electricity prices range from ~4¢ to ~20¢ per kWh in the USA, which means…

Is electricity really that cheap in the USA? The cheapest price I've found for my city here in Germany is like 0,24 EUR. And this is already including a new customer discount and cashback. Not even guaranteed green energy... 0,24 EUR is currently ~0,29 USD. That's 0,29 USD for my cheapest price against your most expensive price with 0,20 USD.

US households use 3x the electricity vs German households. They get wholesale prices.

Re: Mining Ethereum on M1 Mac GPU

#65

Post by tito »

jointpdf wrote: post #33
varenc wrote: post #26

Earlier quoted context omitted.

The 39W max draw probably assumes the display is on? Will probably draw less in clamshell mining mode.

Tired: carbon clams ingesting solar energy (tiny plants) and outputting pearls Wired: silicon clams ingesting solar energy and outputting dogecoin

carbon removal needs more memes, see $100 meme contest here: https://twitter.com/titojankowski/status/1354124284705181696

Re: Mining Ethereum on M1 Mac GPU

#66

Post by mvanaltvorst »

127 wrote: post #43
lalaland1125 wrote: post #41

Earlier quoted context omitted.

This is part of why we need a carbon tax

Only problem with this is I can't figure out how to spend all the money generated by the tax. Obviously it should be used at a technology or process to reduce carbon from the atmosphere, but I don't think that's what governments are going to decide to do. Add a new tax, waste most of it. Or worse, use it to fund societally harmful things. That's what the history shows.

Take the money, pile it all up and directly give it back to the citizens, where every citizen gets the same amount of money. Effect: households will have the same amount of money on average, but people will be nudged to substitute their carbon-intensive lifestyle by greener alternatives. (or, in economic terms, there is no income effect, only a substitution effect).

You're also indirectly taking money from big corporations and putting it into the pockets of citizens, which has been proven to be one of the most effective methods of stimulating the economy.

Re: Mining Ethereum on M1 Mac GPU

#67

Post by trollied »

tomgp wrote: post #62
toomim wrote: post #2

> Is it worth it? > Um. Not really. At current Ethereum prices (2021-02-26), it generates $0.14 of profit per day. It’s still a profit, but very miniscule. The real question is if it makes more money than it costs in electricity. Apple claims it uses 39 W max. That adds up to 0.936 kWh of electricity per day, which we can approximate at 1 kWh. Electricity prices range from ~4¢ to ~20¢ per kWh in the USA, which means…

Re the capital cost: Assuming profit of 10c/day and that an M1 mac is about $1000 it'll be about 274 years before you pay that off.

You’re a factor of 10 off. (1000/0.1)*365=27.4

Re: Mining Ethereum on M1 Mac GPU

#68

Post by zufallsheld »

CallMeMarc wrote: post #5
toomim wrote: post #2

> Is it worth it? > Um. Not really. At current Ethereum prices (2021-02-26), it generates $0.14 of profit per day. It’s still a profit, but very miniscule. The real question is if it makes more money than it costs in electricity. Apple claims it uses 39 W max. That adds up to 0.936 kWh of electricity per day, which we can approximate at 1 kWh. Electricity prices range from ~4¢ to ~20¢ per kWh in the USA, which means…

Is electricity really that cheap in the USA? The cheapest price I've found for my city here in Germany is like 0,24 EUR. And this is already including a new customer discount and cashback. Not even guaranteed green energy... 0,24 EUR is currently ~0,29 USD. That's 0,29 USD for my cheapest price against your most expensive price with 0,20 USD.

See https://de.statista.com/statistik/daten/studie/13020/umfrage... for a comparison of prices around the world. Germany is at the top.

Re: Mining Ethereum on M1 Mac GPU

#70

Post by andreaorru »

bsaul wrote: post #69
andreaorru wrote: post #19

Cool experiment. But I don't recommend getting into Ethereum mining now, as the network is on the verge of switching to Proof of Stake as part of the migration to Ethereum 2.0.

Does proof of stake truely ends the GPU arms race ?

Yep. You can run a validator node by staking at least 32 ETH (or any amount through a staking pool).

Nodes will still verify transactions and execute smart contracts, of course. But there's no hash lottery to be won for mining blocks.

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