So if you can spend $30K and immediately start mining $1500/month out of thin air, that's a pretty nice investment even if the electricity costs $200/month. Two years later the cards will have paid for themselves entirely and (I suspect) will still be pretty useful.
It does argue in favor of just paying OpenAI or Anthropic for tokens, though.
At the same time, when I need to use the hardware for something, whoever is renting it from me at the moment is going to get unceremoniously booted, and I imagine they are not going to be happy about that. I assume that vast.ai's providers get uptime ratings that drive their work allocation, right?
What I do is… rent on the same platform when I actually need to use a card. A benefit is that if I need a burst of more power, that’s not an issue since it’s available from other hosts. But obviously there’s an inflection point of first party utilization where it makes more sense to own.
Now, I have absolutely no clue how long this situation is going to last! But the economics don't really work out for local models while it does.