The network’s detonation difficulty bomb data is in December following the EIP-3554 update. In a nutshell, you will need to either buy a GPU, purchase a cloud mining package, or stake Ethereum to mine profitably.Īnswer: Yes, until December 2021, when proof of work mining will become obsolete. A few others will actually allow you to mine for free without any commitments at any time, but those will be very little earnings. If using solo, buy GPUs that can mine Ethereum profitably and my solo or connect them to a mining pool.Īnswer: Yes, there are multiple cloud services that allow you to mine for free when testing their services. If it is a cloud, simply select a good Ethereum cloud mining company and purchase a package. Then create an Ethereum wallet address, which you will use to get paid. The profit returned is not equal to the amount of Ethereum.Īnswer: The first step is to select the method of mining – pool, solo, or cloud. With a GPU that hashes at around 28.2 MH/S, it should take much longer. Q #2) How long does it take to mine 1 Ethereum?Īnswer: It takes around 7.5 days to mine Ethereum as of September 13, 2021, at the hash rate or hashing power of 500 mh/s with an NVIDIA GTX 3090 that hashes at around 500MH/s. However, a new $1755 NVIDIA GeForce RTX 3090 can generate up to $7.33 in profit per day. Using Ethereum mining profitability calculator, a used $180 NVIDIA GeForce GTX 1070 with a hash rate of 28.2 MH/S using the Ethash algorithm can generate a daily profit of $1.71 on a mining pool. For instance, you would need at least a GTX 1070, which functions at a hash rate of about 25.2 MH/S when mining Ethereum. For proof of work to be profitable, the cost of electricity needs to be around $0.15 and the GPU should work at a decent hashing rate. Frequently Asked QuestionsĪnswer: Yes, it is profitable whether proof of work or staking.
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