Interesting. My son was mining ethereum about 18 months ago but his power bills were killing him
Mining is not for the faint of heart. There is a price point for all miners where the cost of electricty and cooling exceeds the money being brought in.
To be successful, you have to KNOW that price point. Or think of it backwards. Given the cost of electricity, at what price point does it make more sense to turn off the miner and NOT mine. Most miners that I know never do that calculation.
And every setup is different. The miner has a hash rate, that takes so many watts of power and produces X watts of heat that have to be cooled. All that hashing then produces Y amount of coin. Then that has to be exchanged for cash and then that cash has to be used to pay back the power bill. What is left over can then be used to offset the depreciation of the hardware.
IOW, it is a numbers game and you REALLY need to know your numbers.
I know quite a few FORMER miners that are now just trading cyber currencies on the ups and downs of the market. They gave up mining because their electrical bills were cost prohibitive.
Interesting. My son was mining ethereum about 18 months ago but his power bills were killing him
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As others have stated, crypto mining consumes physical assets, like electric power, and converts them into nothing.