Four weeks after the first payout the second payout from the NiceHash Miner CPU mining has been dropped into my wallet.
CPU Mining
I am still CPU mining on an i7 machine with cryptonight algorithm. It is not a dedicated mining machine so all the income if you can call it so is for fun and out of curiosity only.
Payments So Far
| Date | TXID | Amount BTC | Fees BTC | BTC / EUR1 | EUR value2 |
|---|---|---|---|---|---|
| 2017-02-25 12:02 | 0.00476164 | 0.00014727 | 1090.53 | 5.19 | |
| 2017-01-28 11:59 | 0.00561882 | 0.00017378 | 859.86 | 4.83 |
1 and 2 For informational purpose only to see the hypothetical value of mined BTC. Source of BTC value.
As you can see from the table above the first payout was slightly was somewhat bigger because the actual mining period was longer than a month. I guess that from now on the payout interval will be four weeks.
I have also changed the payout address. The original was a Xapo online wallet address. I stopped using Xapo because they've introduced withdrawal fees which are really over the top.
The Future
NiceHash Miner will continue to silently work in the background. After a month I'll post another report.
More Reading
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Cover photo by Sebastian Pichler @ Unsplash.
Better and better!
So you're making a 50-75% loss every month? Average power cost for you is something like 0.16 euros per kWh and an average i7 desktop pulls between 140-170 watts at full CPU load. So it comes out as being around 16 euros a month in power usage for 5 euros in crypto. You would be much better off just buying those coins with the money instead of paying for the power to mine them.
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:) You might be right, you might be right.
Actual CPU load for the mining process is around 48% so the loss according to your estimates is a bit lower.
And the actual price per kWh at my place is 0.126 €.
For a 30 days long month that would be:
30 days * 24 hours * 0.126 €/kWh * 0.17 kW = 15.4224 €.
Let's assume that the load of 47% is accurate => 7.25 €
Still at loss :)
But ... if I carry on this excercise ... I am working on a leased energy because I am paying monthly based on last year's consumption. So the rise in monthly payment, if there will be any, will come sometime in the autumn. By then the price of now mined bitcoin will increase ... twofold, threefold, ...? :) Or it just might sink :)
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It's a big consideration when you do a lot of mining. I run GPU miners and it's $100 a month or a bit more at $0.12/kWh to bring in $150 a month in crypto for a single machine.
That's mining at current prices however and the ratio tends to remain stable when the coin goes up and down in value due to the difficulty, if you're mining for a loss expecting an increase in price later that can work as a delayed profit.
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You are right. But ... you are a pro who invested in the miners intentionally and calculated all the ins and outs.
On the other side, I am an amateur with sole CPU doing this as an experiment. I might stop at any time.
By the way - I am getting more satoshi from the bitcoin faucets referrals but that's another story.
Anyways, thank you very much for your valuable input!
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Why don't you mine zcoin?
Best CPU Coin currently.
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@fydel Hello and thanks for the reply. I'll check it out and give it try.
BTW - followed :)
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I undermined in my machine stopped doing when they hakeron me the machine and urged me all mine, thank you dear friend @ ervin-lemark for sharing your experience
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Sorry to hear that.
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