Still considering mining cryptocurrencies with your PC or graphics card? Don't bother. After Ethereum's merge, GPU-based cryptocurrency mining has become essentially unprofitable.
The End of GPU Mining Dominance
Last Thursday morning, Ethereum—one of today's most popular mineable cryptocurrencies—finally phased out GPU-based mining to reduce its energy consumption. For crypto miners who relied on Ethereum as their primary profit source, this was devastating news.
"The merge killed everything," said miner Philip Robe. "All my equipment is idle now." While some miners attempted to continue mining through the ETHW fork, it failed to gain mainstream traction, marking the true end of GPU mining's golden age.
Daily Mining Profits Turn Negative
The most immediate consequence? Daily GPU mining revenues dropped to zero—or worse, became losses after accounting for electricity costs:
| GPU Model | Daily Profit (USD) | Viability |
|---|---|---|
| RX 6800/6800 XT | 0.11 | Marginal |
| RTX 3060 | -0.02 | Loss |
| RTX 3080 | -0.05 | Loss |
Only a few GPUs like the RX 6800 series scrape by with cents per day, while former mining favorites (e.g., RTX 3060/3080) now operate at a loss.
Failed Pivots to Alternative Coins
Initially, miners hoped to switch to other GPU-mineable cryptocurrencies like Ergo or Ravencoin. However, their low market value (compared to Ethereum’s ~$1,500 price) made mining them unsustainable.
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- Real-world example: Mining Ravencoin with an RTX 3080 yields just $0.13–$0.26/day—nowhere near covering California’s high electricity rates, resulting in net losses.
- "Most cryptocurrencies are unprofitable at current power costs," admitted miner Blake Teeter, who operates dozens of high-performance GPUs.
Regional Dependence on Cheap Electricity
Profitability now hinges entirely on location:
- California: All GPU mining operates at a loss.
- Low-cost electricity regions: Narrow profits of a few cents—far below the $X/day earnings pre-merge.
Industry Fallout: Sell-offs and Shutdowns
The grim economics have led miners to declare "GPU mining is dead." Many are:
- Shutting down rigs to save power.
- Selling unused GPUs on platforms like Facebook and eBay.
"No one’s making money—I’ll start selling my 50 GPUs soon," confessed an anonymous miner.
FAQ: Post-Merge GPU Mining
Q: Can I still profit from GPU mining?
A: Realistically, no—unless you have free electricity and top-tier hardware.
Q: What should miners do with idle GPUs?
A: Consider reselling or repurposing them for gaming/AI workloads.
Q: Will alternative coins replace Ethereum for mining?
A: Unlikely. Their low value and high energy costs make them nonviable.
Q: Is crypto mining completely dead?
A: Not for ASIC/Proof-of-Stake chains, but GPU mining’s heyday has passed.
👉 Learn how to adapt to crypto’s new era