discussion Is GPU Crypto mining profitable on solar?

[FreeKnight]

So I'll likely no longer be working from home as of May. Coincidently, I'm likely getting solar power in the next month or two, which got me thinking. My estimates are all showing as outputting about 103-106% of my annual usage. That's based on my current usage with me not trying to save power at all and working from home. Also getting a more efficient AC soon, which is the bulk of my summer power bill. As a result I'm going to be generating notably more power than I will use next year.

Which brings me to wondering; is GPU mining profitable if you have 'free' power (aka solar which isn't 'free' but you know what I mean), or is it basically at the point where it's only worthwhile with specialized mining rigs and equipment? If it's viable on GPU I might look at doing it once panels are up, but I haven't followed the mining scene at all lately (and never mined much before TBH)

 

[lowfat]

IF you already have the hardware than sure. A 4080 will make about $1.5 a day. And just the cards power consumption will be about 4kWh/day.

 

[Bond007]

Does your province/power provider pay credits/money for feeding into the grid? If so, you would also need to figure out what the delta is between what they would give you for the power, vs what you would make using the power for mining.

 

[Cptn Vortex]

Technically it is currently "profitable" right now, with the right GPUs and if you do not have very expensive power to begin with. I'm using my 3080 to mine which is making around $1/day and costs around $0.30c per day in power, so it's profitable, and a bonus is a little extra heat in my place so thermostat has been off almost all year. I run it at a lower 275w tune so that it shouldn't reduce the life of the card all that much, but keep in that in mind anyway. If the card dies, then it's definitely not profitable!

 

[Izerous]

Does your province/power provider pay credits/money for feeding into the grid? If so, you would also need to figure out what the delta is between what they would give you for the power, vs what you would make using the power for mining.

In Alberta ACE (and a few others) will pay out 30c/kw in the summer when over producing and 12c/kw in the winter when your expected to be under producing. It is pretty much the common practice here it seems for grid tied system.

However that accounts for usage, admin fees are still on top of that.

 

[lowfat]

In Alberta ACE (and a few others) will pay out 30c/kw in the summer when over producing and 12c/kw in the winter when your expected to be under producing. It is pretty much the common practice here it seems for grid tied system.

However that accounts for usage, admin fees are still on top of that.

30c/kWh? That seems high to me. That is higher than anyone would pay for electricity in Alberta. Am I missing something?

 

[Izerous]

30c/kWh? That seems high to me. That is higher than anyone would pay for electricity in Alberta. Am I missing something?

During the summer you shouldn't be net consuming so you should only net generating credits at 30c/kw for all your overproduction. Then winter hits and your consuming those credits at 0.4x the rate.

1kW in the summer of over generation is worth 2.4kW of winter over consumption

 

[Izerous]

Programs & Rates - ACEnergy

Joining ACE means lower costs, a voice in co-op decisions, and programs that give back to your community.

www.acenergy.ca

Spark Smart Solar
A comprehensive program with a 3-year term for Small-Scale Micro-generators that offers higher compensation (as a credit, offsetting your electricity bill) when most micro-generators are typically generating more energy than they’re consuming and exporting the excess to the grid, as well as automatically switching to a competitive fixed rate plan when solar generation is usually producing less energy and generators are more reliant on grid power.

• April through October (***approximately) 30.00¢ / kWh*
• November through March (***approximately) 11.90¢ / kWh*

Edit: These plans really only work if your actually offsetting near 100%+ or higher of your annual power consumption. If you only put on enough to do say a 25% offset than a plan like this is going to hurt you more than it helps as your likely not generating credits at all even during the solar equinox.

 

[Kindred1]

If you want to make real money, forget about GPU and go with HashMole. It’s cloud-based, so you don’t waste time with setup, you just invest and get your share.