When it comes to cryptocurrency mining, there are a few different ways to go about it. One popular method is using a graphics processing unit (GPU) to mine various coins Flux, Ergo etc.
However, with the recent advancements in specialized mining equipment, many people are questioning whether or not GPU mining will be profitable again. In this blog post, we’ll explore the current state of GPU mining and try to determine if it’s worth getting back into.
The Current State of GPU Mining
In the early days of cryptocurrency, GPU mining was the go-to method for most miners. However, as the difficulty of mining increased and the value of coins went up, specialized mining equipment known as ASICs (Application-Specific Integrated Circuits) became more prevalent. These machines are specifically designed for mining and can greatly outcompete a standard GPU in terms of hashrate (mining power).
As a result, many GPU miners have been forced to either switch to a different coin or method of mining, or to simply give up on mining altogether. The current state of GPU mining can be summed up as follows: it’s not as profitable as it once was and it’s becoming increasingly difficult to compete with specialized equipment.
The Future of GPU Mining
So, will GPU mining be profitable again? Unfortunately, the answer is not that simple. It largely depends on the coin being mined and the current state of the mining industry as well as your electricity cost.
First, let’s talk about the coins being mined. There are still some coins that can only be mined using a GPU. For example, Flux, Ergo, RVN and a few others. For mining to be more profitable these will need to bridge the gap of Ethereum leaving to PoS.
It’s also worth noting that the mining industry is constantly evolving. As new technologies are developed and new coins are created, the profitability of GPU mining can change. For example, if a new coin is created that is specifically designed to be ASIC-resistant, then GPU mining could become more profitable again.
I would check out this video from RPM, always great to watch opinions on the mining cycles.
In review, GPU mining is still possible, but it’s not as profitable as it once was. The current state of the mining industry is such that it’s becoming increasingly difficult to compete with specialized equipment.
However, the future of GPU mining is uncertain and it largely depends on the coin being mined and the overall state of the mining industry.
If you’re thinking about getting back into GPU mining, it’s important to do your research and carefully consider the potential profitability before making a decision. While it’s possible that GPU mining could become profitable again in the future, there are no guarantees.
As always, you should conduct your own research and invest only what you can afford to lose. With all that said, GPU mining can still be a fun and interesting hobby for those who are interested in the technology and are willing to accept the risks associated with it.