Ethereum GPU Mining On AWS EC2 In 2022
Cryptocurrency mining is as standard as ever, because it in concept permits you to turn idle computing sources right into a passive earnings. The issue is, that lately you require extremely highly effective, particularly optimized hardware as well as entry to very low-cost or even free electricity.
Testing on EC2
To find out simply how difficult mining has become, I’ve decided to run a GPU miner on an Amazon AWS EC2 g2.8xlarge. This specific cloud instance is significantly quicker than the hardware most people have at home, yet it's not specifically optimized for Cryptocurrency mining - the perfect candidate.
Specs & Details
- High Frequency Intel Xeon E5-2670 (Sandy Bridge) Processors (32 vCPU) - 4x NVIDIA GRID K520 (1,536 CUDA cores and 4GB of video reminiscence) - 60GB of Reminiscence, 2x120GB of SSD Storage - The Server costs $2.6 per hour ($62.4/day; $1860/month) - 1 Ethereum sells for $10.76 (2017-02-03)
Tip: With AWS EC2 spot pricing, you can get the server for around $0.4777 / hour, depending on time of day, area and availability zone. That’s $343,94 / month.
Results
The hash fee of the EC2 server fluctuates between 23.Three MH/s and 47.7 MH/s. I think the efficiency varies primarily based on what different customers do on this shared, EC2 server. In any case, the outcomes give us a good suggestion of what to count on if you run a miner on hardware that’s not specifically designed for mining.
Primarily based on common hash charge of 28 MH/s, every EC server would generate round 0.0045 Ether ($0.05) in income per hour. Which means, over the course of a month you’d make $34.Eighty four (3.25 Ether).
Conclusion
Unless the USD - ETH alternate price will increase by no less than 1000%, mining on AWS EC2 remains unprofitable.
Update: 2017-02-14
After around a week of EC2 mining, I've now shut down all AWS server. The Spot pricing I’ve been pursuing helped keep cost down but stays too costly to be profitable.
Replace: 2017-05-22
As of at present, Ethereum is valued at 1 ETH = 173.8 USD. However, as a consequence of enormous demand, EC2 spot pricing is nowhere near what I paid in early 2017. Mining on AWS EC2 is and can stay unprofitable - ceaselessly.
Monthly price: $1860 Mining income: $220 (assuming 44 MH/s) Revenue: $ -1640
Update: 2017-07-09
Ethereum dual-mining profitability comparability (late June 2017). Understand that as more miners be part of the network, and the Ethereum value fluctuates, so will your payout / return of investment.
Update: 2017-12-sixteen
Ethereum is valued at 1 ETH = 706 USD.
Month-to-month cost: $1,860 Mining income: $115.14 (assuming forty four MH/s) Revenue: $ -1,744.86
Mining on AWS EC2 remains to be, and will stay unprofitable - eternally.
Replace: 2018-01-31
Amazon’s latest EC2 P3 generation features up to 8x Nvidia Tesla V100 GPU’s. The V100 (5,one hundred twenty CUDA cores) is significantly more highly effective than the earlier technology NVIDIA GRID K520 (1,536 CUDA cores), nonetheless the excessive-finish EC2 p3.16xlarge additionally prices significantly extra.
EC2 p3.16xlarge
- 8x V100 with 5,a hundred and twenty CUDA core each - $24.Forty eight per hour, $587.52 per day - Reported ETH hash price of 90.Fifty eight MH/s per card (724.Sixty four MH/s mixed)
Month-to-month cost: $17,625.6 Mining revenue: $2,009.36 (assuming 724.64 MH/s) Revenue: $ -15,616.24
Q&A
If in case you have a question, I’d prefer you depart a remark below.
EC2 Elastic GPU service
What about using the lately launched Amazon EC2 Elastic GPU service. What's the potential for mining with this service? - M.
The Amazon EC2 Elastic GPU companies comes with a number of severe limitations, that make it unsuitable for mining cryptocurrency. Here’s what I’ve noticed:
1. The GPU is attached through community (latency, bandwidth usage) 2. You'll be able to attach only 1x Elastic GPU to each EC2 occasion 3. This providers requires a particular driver which only helps OpenGL 4.2
Dual-Mining
What is Dual-Mining? What is considered baseline, the AWS instance value? - D.
Twin stands for twin-mining. That means, that you are concurrently mining 2 or more currencies. For instance, you may very well be mining Ethereum (ETH) and Siacoin (SC) together, thus making a better revenue in comparison with only mining Ethereum. Ethereum PoW fork is ETH + SIA, so mining only ETH would generate around 27% less revenue.