Simon Byrne has taken crypto mining to a whole new level at home while trying to take advantage of Ethereum’s (ETH) potential.
First reported by Anthony Garreffa, Byrne has set up an ETH mining rig consisting of 78 GeForce RTX 3080 graphics cards. Although the RTX 3080 is brought on the market versus high-end PC gamers, crypto miners use these powerful specifications to enhance their capabilities.
Since each card consumes approximately 300 W of power, Byrne’s installation consumes 23.4 kW of energy. And that doesn’t even account for the associated costs like AC. All told, his electricity bill is estimated to be about $ 2,166 a month.
The RTX 3080 launched in September at a price of $ 699, but shortage of supply has pushed the unit cost up to $ 1,199. At the low price, that’s a $ 93,522 price tag for Byrne’s installation.
Still, these costs can be offset by the mining capacity of the operation. One GeForce RTX 3080 graphics card has a hash rate of about 83MH / s with Ethash, which should generate about 0.22236870 ETH per month, according to Garreffa. All 78 cards would therefore generate 17.3 ETH per month, which equates to approximately $ 12,352 at current prices.
Taking away the electricity costs, that’s about $ 10,200 a month or $ 122,000 a year. And that doesn’t take into account Ethereum’s price potential during the next bull market.
Ether’s price shot above $ 700 last weekend, its first step since mid-2018. The return of altseason, as some have predicted, the price of ETH could steer even higher in the medium term as investors switch from Bitcoin to other large-cap cryptocurrencies.