Get Rich Quick by Mining Ether with AWS Spot | Hacker News Reader

Get Rich Quick by Mining Ether with AWS Spot

medium.com

27 pointswigginjs16 comments

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I'm skeptical that this would actually be profitable... would like to see some metrics on AWS costs vs. mining rewards.

Since spot instances raise and lower their prices if it is profitable it soon won’t be also.

http://skipperkongen.dk/2017/03/09/ether-mining-1/

This

Does anyone know if AWS F1 instances (with FPGAs)[1] have been used for mining, and how they compare to GPUs?

1 - https://aws.amazon.com/ec2/instance-types/f1/

It took me three minutes to set this up and after 10 minutes there were the first eth in my wallet. And I am a crypto currency newb and only have litte AWS experience. I am impressed. I don't expect this to be profitable, actually I would be surprised if I get more then 50% of my AWS costs back, but still an impressive application of AWS cloud formation.

My high end home GPU averages 25MH/s and nets me $30 per month.

At $0.2/h/gpu it would cost you $144 per month. Assuming the GPUs have the same efficiency, you're making 20% of the cost back.

My brief testing (30 mins run) makes it even worse, a 8 GPU instance ($1.6/hour) was going at about 90-100MH/s, which means they're even less efficient than my home gpu. 100MH/s is around $130 a month, for the cost of $1150/month or 11% returns.

The price of eth will go up, but if you don't have a GPU already, it's more profitable to buy it directly. If you're investing in mining and expecting the price of eth to go up to recoup costs, you would be making much more money just by buying eth directly.

Do you leave your GPU mining all month long? What does that cost in electricity?

It's mining whenever I don't need to use it for games, about 3/4 of the day. Electricity costs are hard to calculate because the computer would've been on if I wasn't mining anyway (it acts as a home server). My whole system is mining atm and kill-a-watt reports 190 watts, about $17/month at my local rate if it was in use 24h.

Any idea how much H/s a typical GPU will produce?

I saw 94 MH/s how many GPUs was that?

http://whattomine.com

94MH/s is about $86K per day of ethereum. So, something isn't adding up right.

Nope, that's not right. Probably have a number wrong somewhere.

94MH/s is about 17 cents ($0.17) an hour. So based on the $0.2 cost you would lose 3 cents ($0.03) an hour.

was plugging into equihash not ethash.

I meant for that .2/GPU/h on AWS

I looked into this for normal instances, definitely not profitable. Spot instance may profitable until more than a few people start doing it. Ideally this could run on a decentralized cloud, like Golem for instance

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