With Ether skyrocketing over the past weeks, more and more people have shown interest in mining the token, tempted by some rapid gains. And it appears that several groups of Chinese GPU miners have the lead!
According to some recent reports, they are buying the latest Nvidia GeForce RTX 30-powered laptops, which have surged in popularity in China, as they consider them viable tools for mining cryptocurrency.
Mining farms displayed on social media
The first mining setup put together by Chinese GPU miners was spotted on Weibo, as one user made a post showing off a series of gaming laptops, with the GeForce RTX 30 under the hood, stacked up on shelves.
Multiple news outlets indicated that the mining farm was designed to mine Ether, as it can be surprisingly easy to do it, as long as you have a laptop with enough graphics processing power. Even more, a video spotted in China shows a laptop equipped with an RTX 3060 graphics card, plugged into a socket at Starbucks, mining less than $1 worth of ETH in around two hours.
Are these laptops a good investment for miners?
According to some rough estimations, a GeForce RTX 3060 laptop is able to mine up to around 2.3 ETH per year, the equivalent of $3,900, at the current prices. In China, this means covering up the cost of the laptop, as well as the electricity.
Launched at the end of January, most GeForce RTX 30 series laptops, preferred by Chinese GPU miners, have a price tag between $1,000 and $2,000. Even though, there’s an increase in demand from China, leading to a shortage on the market, if some reports are to be believed.
“The supply will likely remain lean throughout Q1,” revealed Nvidia’s chief financial office Colette Kress, adding that gaming demand was “off the charts” and they had difficulties keeping up.