According to the WhatToMine portal, the mining of the most popular virtual currencies using a GPU makes no sense from an economic point of view. For example, mining Ethereum Classic (ETC) on the four most powerful GeForce RTX 3090 Ti graphics cards will bring a loss of $0.96, based on an electricity cost of $0.1 per kWh.
Mining of digital assets issued on blockchains with the PoW consensus algorithm has ceased to be profitable due to the increase in the difficulty of mining coins caused by the migration of miners due to the transition of the ETH network to PoS. In particular, due to the connection of new equipment from September 15 to 16, the ETC blockchain hashrate almost quadrupled and reached a historical maximum of 226.54 terahesh per second.
The growth in computing power of the Ethereum Classic network has led to an almost fivefold decrease in daily income from mining this cryptocurrency on four 3090 Ti: from $5.25 to $1.13. At the same time, on September 14, before the release of The Confluence, people mining ETC on these video cards made an average profit of $2.80 per day.
