Do you own any ASICs?

noko

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While Crypto Currency is once again climbing the Market Capitalization - How many mine with ASICs here?

I have two, the newer Bitmain Antminer Z11 which does Equaihash (ZCash type coins) and Innosilicon A8+ that does CrytoNight coins.

While I still mine with a couple of 1080Ti's, GPU mining is just not too worth these days. This may change if the value continues to rise in the near future.
 
No Asics here. Did GPU mining for a long time but have lately been sticking to mining Turtlecoin with CPUs.
 
As reference point currently:
Z11 is making $21/day
A8+ messily $1.65/day (yep some ASICs age very poorly, less than a year old)
GPUs
2x 1080Ti's $2.35/day (still profitable, just not too exciting)
The 2x Vega FE's with the new drivers killed any hope for mining, these cards really performed with very low voltage and high memory speeds with older drivers
  1. No Wattman in the new gaming drivers and I could not revert for some unknown reason, no utility is able to reduce power levels, voltages etc. making mining totally pointless
Vega 64 LC is not worth it at this time.
 
noko said:
As reference point currently:
Z11 is making $21/day
A8+ messily $1.65/day (yep some ASICs age very poorly, less than a year old)
GPUs
2x 1080Ti's $2.35/day (still profitable, just not too exciting)
The 2x Vega FE's with the new drivers killed any hope for mining, these cards really performed with very low voltage and high memory speeds with older drivers
  1. No Wattman in the new gaming drivers and I could not revert for some unknown reason, no utility is able to reduce power levels, voltages etc. making mining totally pointless
Vega 64 LC is not worth it at this time.
Click to expand...


Sounds like you need the amazing computer power of an RVII
 
noko said:
As reference point currently:
Z11 is making $21/day
A8+ messily $1.65/day (yep some ASICs age very poorly, less than a year old)
GPUs
2x 1080Ti's $2.35/day (still profitable, just not too exciting)
The 2x Vega FE's with the new drivers killed any hope for mining, these cards really performed with very low voltage and high memory speeds with older drivers
  1. No Wattman in the new gaming drivers and I could not revert for some unknown reason, no utility is able to reduce power levels, voltages etc. making mining totally pointless
Vega 64 LC is not worth it at this time.
Click to expand...

Help me with the math on the Z11. I'm seeing that they run about $2500 or so to purchase and you're making around $600/month on it. I'd assume that hash rates are not as parabolic as they used to be, but even so, $600/month isn't sustainable unless price continues going up like it has for crypto... so, minimum 4 months to pay for it, 6-8 months may be more realistic.. Seems like a bit of a gamble?
 
David_Schroth said:
Help me with the math on the Z11. I'm seeing that they run about $2500 or so to purchase and you're making around $600/month on it. I'd assume that hash rates are not as parabolic as they used to be, but even so, $600/month isn't sustainable unless price continues going up like it has for crypto... so, minimum 4 months to pay for it, 6-8 months may be more realistic.. Seems like a bit of a gamble?
Click to expand...
We are on an upswing with Cryptocurrency which really helps and I am mining Pirate (ARRR) with the Z11. If I sold everyone of the coins mined today it would be about $21, ~160 coins. Consider this, I was initially mining at around 350 coins of ARRR a day and accumulated those, so if those were sold today, they would be much more than $21 and more like $40 for that day of mining. As this coin got more profitable, more and more folks started to mine and the difficulty went up to keep the block times the same at 1 min, meaning the number of coins I can mine will go down. Tomorrow (my risk) this coin can fail, devalue or it can continue to go up. Now I paid for the Z11 $2100 shipped to my door right after launch. Prices went up since then for the ASIC

Now I mined some ZCash, ZClassic (converted to RVN) and if I sold everything mined by the Z11 today at today's value I would be about half paid off on the purchase, a little bit less. I am just looking at longer terms of holding at the moment so if I actually make a real profit and reap it, that will only happen if I convert the holdings into something else of value. Anyways at my going rate the ASIC would be paid off in about 3 months if I sold what was mined.

A gamble? I don't think so, more an educated guess/evaluation.

Now my recommendation for anyone in Crypto is only invest what you can lose and not more. The fact is most people lost in playing around with Crypto overall. Some made some very large killings but that is not the norm. Some panicked bought, put more than a should when Bitcoin skyrocketed to $20,000 only to see if fall over and over again to the low $3000. If they subsequently did not panic sold they probably will make it up and maybe even turn a profit if Bitcoin follows it's history on the charts. Many buy high and sell low and this is still a speculated market for the most part - the real usage of Crypto for a form of payment is going up as more and more places accept it and banks use it to transfer assets around. In other words it is taking hold.
 
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My 2080 and OC’d Ryzen 1700X can get about $1.45 a day with NiceHash.

Was fun watching BTC spike and plummet today.
 
PParker said:
My 2080 and OC’d Ryzen 1700X can get about $1.45 a day with NiceHash.

Was fun watching BTC spike and plummet today.
Click to expand...
That is pretty good rate for today, maybe not worth it if just selling outright but could bring in more depending upon Bitcoin pricing later.

While probably a sore spot for gamers, 6 1660 which would cost around a 2080Ti price would bring in today about $5 a day minus electrical costs which these cards are very efficient. If price continues to go up, I expect these cards will be the first to start selling for mining.

The 1660Ti is not that much more in hashrate over the 1660. For $/day per the price these 1660 are the best cards today to get for mining. Now personally I would go with ASICs if I am fairly sure on the coins that it supports but their more risk with an ASIC due to the fact it is way more limited in what it can mine.

Navi may start the gaming card mining craze all over again - we just have to wait and see. Plus with the China Tariffs that jacked up the pricing of Bitmain ASICs, will also make gaming cards more appealing for miners.
 
ASIC's have always been a gamble. They're initially expensive, limited in what they can mine and usually become unprofitable to run within a couple months. Over and over I've seen ASIC's sell for $2000-3000 and initally make $20-30 a day. The flood of them hitting the market drives up difficulty which drives down profits and within 1-2 months they're only churning out $1-2 a day. Most of them never pay for themselves. Your only saving grace is holding the coins you mine in hopes that the price goes up so you can sell for a profit, which a lot of the times never happens. I have friends that maybe recouped 80% of their ASIC purchase before it became a power sucking paper weight.
 
Can these ASICs be repurposed for other tasks once the unit isn't profitable?
 
alxlwson said:
Can these ASICs be repurposed for other tasks once the unit isn't profitable?
Click to expand...
Salvage the fans and the power supply, aluminum might get you a couple of pennies at the recycle place, the rest goes to the garbage bin. That is about it. Now the Z11 profits keeps going up which is due to the increasing marketcap of coins in general - tomorrow that can all turn around.
 
As an update, threw the Bitminer Z11 in the trash -> it is no longer usable as a mining ASIC and would cost way more money than mined value.

Did I make a profit? Theoretically yes, if I sold all my coins mined from it, value would be over $10,000. That value can drop like a rock or blast off as well, until cashed in, pay taxes, not get ripped off at some exchange etc. the answer is ?
 
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