News Bitcoin Mining Company Sells 26,200 Rigs to Eliminate $67M Debts

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There are about 40,000 gamers somewhere out there (and millions more!) who are cursing all this mining BS and wishing it would've never happened.
Miner here: For starters, our livelihoods are more important than your framerates. But that's besides the point. The shortage was not our fault, as much as gamers love to blame us. Its not our fault. Im sorry, it just isnt. Its NVidias fault. NVidia had a golden opportunity to end the shortage, and chose to blow it to keep prices high for profits.
 

Neilbob

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Miner here: For starters, our livelihoods are more important than your framerates. But that's besides the point. The shortage was not our fault, as much as gamers love to blame us. Its not our fault. Im sorry, it just isnt. Its NVidias fault. NVidia had a golden opportunity to end the shortage, and chose to blow it to keep prices high for profits.
I think a very large majority of people, not just gamers, take a rather dim view of your 'livelihood' that involves just letting technology make money for you while having a negative impact on the environment. There's absolutely no kind of benefit to society or to anyone other than you taking place.

Nice go at trying to transfer any kind of blame from yourself though. NVidia (or AMD for that matter) are certainly no shining knights here, but the root of the issue was absolutely your fault. Perhaps production of GPUs could have increased, perhaps not, but any extra ones would almost certainly still have been snapped up by miners.

Not the reply I wanted to make. I suspect that would have been a little bit redacted.
 
Aug 19, 2022
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I think a very large majority of people, not just gamers, take a rather dim view of your 'livelihood' that involves just letting technology make money for you while having a negative impact on the environment. There's absolutely no kind of benefit to society or to anyone other than you taking place.

Nice go at trying to transfer any kind of blame from yourself though. NVidia (or AMD for that matter) are certainly no shining knights here, but the root of the issue was absolutely your fault. Perhaps production of GPUs could have increased, perhaps not, but any extra ones would almost certainly still have been snapped up by miners.

Not the reply I wanted to make. I suspect that would have been a little bit redacted.
It is not our fault. I'm sorry. But it isn't. NVidia had a golden ticket, a 1-step quick solution to end the shortage. They chose to give it up for profit and greed. That is not us. That is them
 

ezst036

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There are about 40,000 gamers somewhere out there (and millions more!) who are cursing all this mining BS and wishing it would've never happened.
The article seems a little light about the details of the hardware contained within "the rigs", however, it strikes me that there is a possibility that this might just be nothing but generational sell off.

Geforce RTX 4xxx's are for Miners.
Geforce RTX 3xxx's are for Gamers.

In next year's sell off:

Geforce RTX 5xxx's are for Miners.
Geforce RTX 4xxx's are for Gamers.

I guess it all depends on what happens with those mining ASICs that some companies (including Intel) are fabbing.
 

InvalidError

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There are about 40,000 gamers somewhere out there (and millions more!) who are cursing all this mining BS and wishing it would've never happened.
The title says "Bitcoin mining" and BTC mining on GPUs hasn't been economically viable in 4-5 years due to ASIC miner domination.

Gamers are equally guilty..... No better than miners... All wasting collosal amount of power.
Gamers typically use only one system with only one GPU and only a few hours per day at that. Miners run several high-powered GPUs (hundreds of thousands for large-scale crypto companies) 24/7. Their environmental impact is orders of magnitude worse. Every hour that gamers spend gaming is one hour they aren't doing something else likely to be even more energy-intensive while every hour that crypto-miners mine is likely used to fund other even more energy-intensive stuff that robs society of even more resources.

If gamers weren't gaming, they'd likely be driving to places, getting driven to places or having stuff driven to them instead, which is 10-100X more energy-intensive depending on transportation method and how far people need to go for their substitute hobbies.
 

ezst036

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The title says "Bitcoin mining" and BTC mining on GPUs hasn't been economically viable in 4-5 years due to ASIC miner domination.
4 to 5 years? Was this year's video card non-availability just vaporware? Since miners did not buy any of those cards, who was buying them and why for such crazy prices?

Or was this meant to be a clarifying "not bitcoin mining, but Ethereum mining" about the flavor of mining?

Just curious.
 

InvalidError

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4 to 5 years? Was this year's video card non-availability just vaporware? Since miners did not buy any of those cards, who was buying them and why for such crazy prices?

Or was this meant to be a clarifying "not bitcoin mining, but Ethereum mining" about the flavor of mining?

Just curious.
The GPU unavailability was largely caused by Ethereum mining, not Bitcoin. Now that a bunch of ETH mining ASICs have become available though, GPU-mining ETH is going to become obsolete soon-ish enough regardless of whether ETH goes PoS.

If next-gen GPUs get hogged by crypto-mining, it will be by the rise of one of ETH's PoW contenders.
 
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I think a very large majority of people, not just gamers, take a rather dim view of your 'livelihood' that involves just letting technology make money for you while having a negative impact on the environment. There's absolutely no kind of benefit to society or to anyone other than you taking place.

Nice go at trying to transfer any kind of blame from yourself though. NVidia (or AMD for that matter) are certainly no shining knights here, but the root of the issue was absolutely your fault. Perhaps production of GPUs could have increased, perhaps not, but any extra ones would almost certainly still have been snapped up by miners.

Not the reply I wanted to make. I suspect that would have been a little bit redacted.
There's a benefit for drug cartels, data ransomers, kidnappers, corrupt regimes and such. As they can untraceably send and receive large amounts of money. Making it easier to launder. Think of the ruthless drug lords.😢
 
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Miner here: For starters, our livelihoods are more important than your framerates. But that's besides the point. The shortage was not our fault, as much as gamers love to blame us. Its not our fault. Im sorry, it just isnt. Its NVidias fault. NVidia had a golden opportunity to end the shortage, and chose to blow it to keep prices high for profits.
Planet Earth is more important than your digital currency based on nothing real. Beside the point. The shortage was your fault, since you bought any GPU's by using bots or buying them from scalpers, making the whole PC community a mess, now prices will never be the same again, cause you accepted buying them at 3 times their original price, screwing any PC user out there for your own greedy benefit, cause lets be honest, you just don't want to work and make a living, and contribute to society as a whole.
 

Rogue Leader

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It is not our fault. I'm sorry. But it isn't. NVidia had a golden ticket, a 1-step quick solution to end the shortage. They chose to give it up for profit and greed. That is not us. That is them
LOL, as someone who worked in manufacturing of both industrial and consumer electronics, your idea that it's just a 1 step quick solution is absolutely hilarious.

Gamers are equally guilty..... No better than miners... All wasting collosal amount of power.
The 1 hour a night I game on 1 GPU hardly wastes the colossal amounts of power a miner running multiple GPUs 24x7 does.

Planet Earth is more important than your digital currency based on nothing real. Beside the point. The shortage was your fault, since you bought any GPU's by using bots or buying them from scalpers, making the whole PC community a mess, now prices will never be the same again, cause you accepted buying them at 3 times their original price, screwing any PC user out there for your own greedy benefit, cause lets be honest, you just don't want to work and make a living, and contribute to society as a whole.
This
 
Aug 19, 2022
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Planet Earth is more important than your digital currency based on nothing real.
View: https://youtu.be/EjmtSkl53h4


There ya go, that's for you. While you're watching that, let me know what your car runs on, as well as the furnace in your house in the winter. In curious. The environment joke is getting old

Beside the point. The shortage was your fault, since you bought any GPU's by using bots or buying them from scalpers, making the whole PC community a mess, now prices will never be the same again, cause you accepted buying them at 3 times their original price, screwing any PC user out there for your own greedy benefit, cause lets be honest, you just don't want to work and make a living, and contribute to society as a whole.
Nope. It wasn't my fault. Sorry, but it wasn't. NVidia had a 1-step solution to end the shortage. They chose not to. That was them. Not me
 
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LOL, as someone who worked in manufacturing of both industrial and consumer electronics, your idea that it's just a 1 step quick solution is absolutely hilarious.
Its really not funny, it's pathetic really, because they chose not to. Did you think NVidia cared about gamers because they said they did? Oops. You are gravely mistaken
 

Rogue Leader

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Its really not funny, it's pathetic really, because they chose not to. Did you think NVidia cared about gamers because they said they did? Oops. You are gravely mistaken
The joke is that you think they can push a button and make more GPUs. As I said I have actual work experience in this field. I can tell that you do not.

I will agree with you that companies are not a charity but a for-profit operation, and in the end they want to sell every GPU they can for as much as they can. Nvidia (and AMD) did take multiple steps to discourage mining sales or try to direct GPUs to gamers. They didn't need to do that but they did which was nice for their public image.

But again the idea that they could have just as easily made more GPUs (especially during the pandemic where there were massive material shortages) is for lack of a better term, unintelligent. Its just not that simple, and even if they did do you really believe store shelves would be stocked up, or would they still be impossible to get if you don't have a bot army working for you? Sony has increased production on the PS5 and there are still waiting lists. Please stop being disingenuous.
 

USAFRet

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Here we have 2 people. 1 gamer, 1 miner.

They both live in a house heated by the same elec/gas/geo/solar, both drive cars to and from work.
Lets call that usage a wash. Because it is.

The gamer has a reasonably high end system. He plays games on it 4-5 hours a day. In between work/school/sleep/other hobbies.
The miner does very much the same, with his main PC.

But the miner also has another system. This system contains a dozen or more high end GPUs, that are running 24/7, just to crank out numbers that may eventually live in a database somewhere.
These numbers don't really do anything. Don't provide funds for a company to build a product, or cure cancer.
They just crunch numbers.

This extra system runs 24/7, mostly unattended.
Eating up electricity.

Now...go on and tell me their usage and impact is the same.
I know you'll try. But good luck with that.
 
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The joke is that you think they can push a button and make more GPUs. As I said I have actual work experience in this field. I can tell that you do not.

I will agree with you that companies are not a charity but a for-profit operation, and in the end they want to sell every GPU they can for as much as they can. Nvidia (and AMD) did take multiple steps to discourage mining sales or try to direct GPUs to gamers. They didn't need to do that but they did which was nice for their public image.

But again the idea that they could have just as easily made more GPUs (especially during the pandemic where there were massive material shortages) is for lack of a better term, unintelligent. Its just not that simple, and even if they did do you really believe store shelves would be stocked up, or would they still be impossible to get if you don't have a bot army working for you? Sony has increased production on the PS5 and there are still waiting lists. Please stop being disingenuous.
Do you remember NVidia's feeble attempt to lock us out with LHR? This was to pretend they care about gamers and pretend to care about gamers crying about frame rates. They didn't give a hoot about gamers at all. Let me explain. After LHR came out, they decided to use a bunch of dies that didn't pass quality control, and turn them into CMP mining cards. One problem: they came with a 3 month warranty, no resalability, can't game, no outputs, and costs more than RTX cards. Why is any miner going to buy that? If they really gave a hoot about the gamers, here's what they would have done

Let's take a look at what MSRP of gamer cards at that time were

3090 - $1499
3080 - $999
3070 - $649
3060Ti - $499

They decided to release LHR and then CMP mining cards. A CMP30 equivalent to a 1660 Super was $700. That's insane. They put on LHR, launched a big marketing campaign that said: HAVE NO FEAR GAMERS!!!!! WERE COMING!!!!!! when really what they wanted to do was LHR the cards, then charge triple for their respective CMP cards that have no resalability, high failure rates, and only 3 month warranty.

If they really cared about gamers and were really trying to help gamers, what they would have done was this:

CMP 3090 - $399
CMP 3080 - $299
CMP 3070 - $199
CMP 3060 - $169
CMP 1660S - $99

Now set those prices beside MSRP of RTX cards. What happens? All us miners go after the CMP cards. We would leave your GeForce cards alone. Supply begins to replenish. Prices drop. Gamers can now get RTX at a reasonable price. Miners have their CMP. Miners are happy. Gamers are happy. It looks good for NVidia because it would actually show that they cared about gamers, and now they've found a good use for their low quality chips which would have just been thrown out anyway. Win-win situation for everyone involved. But nope. Didn't do it. Instead, they decided to be greedy and selfish. They decided they wanted to take advantage of the shortage and the mining situation by LHRing their cards, pretending the LHR is ubhackable, then try and double charge miners for cards. Oops. Maybe should have followed through on that silly marketing campaign instead of being greedy and selfish. Trust me, a big company like NVidia. They love a big shortage like this, because it allows them to charge more too, not just eBay sellers. A big company like that, they don't care about you, they never did. It was all a big marketing ploy. They are only interested in their bottom line. They could have easily ended the shortage but chose not to. That's not us, that's them
 

USAFRet

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Now set those prices beside MSRP of RTX cards. What happens? All us miners go after the CMP cards. We would leave your GeForce cards alone. Supply begins to replenish. Prices drop. Gamers can now get RTX at a reasonable price.
Enter the scalpers and their bots.

Buying a GPU at your noted prices would have been fine. If there were any.

It wasn't just the miners....it was also the scalpers.
 
Aug 19, 2022
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Here we have 2 people. 1 gamer, 1 miner.

They both live in a house heated by the same elec/gas/geo/solar, both drive cars to and from work.
Lets call that usage a wash. Because it is.

The gamer has a reasonably high end system. He plays games on it 4-5 hours a day. In between work/school/sleep/other hobbies.
The miner does very much the same, with his main PC.

But the miner also has another system. This system contains a dozen or more high end GPUs, that are running 24/7, just to crank out numbers that may eventually live in a database somewhere.
These numbers don't really do anything. Don't provide funds for a company to build a product, or cure cancer.
They just crunch numbers.

This extra system runs 24/7, mostly unattended.
Eating up electricity.

Now...go on and tell me their usage and impact is the same.
I know you'll try. But good luck with that.
It's an apples to oranges comparison. That would be like saying "My train burns less fuel than your Honda civic" because your honda civic runs for 12 hours a day and my train runs for 5 minutes a day so somehow my train is more "environmentally friendly" .... Lol. It doesn't really matter either way (refer to my video above). 1 GPU mining for an hour will consume less energy than 1 GPU gaming for an hour because we tone down power draw. But like I said, it really doesn't matter (video above)
 
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Enter the scalpers and their bots.

Buying a GPU at your noted prices would have been fine. If there were any.

It wasn't just the miners....it was also the scalpers.
There weren't any because of NVidia greed. Had NVidia set the prices of CMP according to how I listed them, miners would have gone after CMP, and GeForce would have nosedived in price. Also, it wasn't just miners/scalpers, it was also covid destroying supply chains
 

logainofhades

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There ya go, that's for you. While you're watching that, let me know what your car runs on, as well as the furnace in your house in the winter. In curious. The environment joke is getting old
Not freezing to death, in the winter, and being able to drive a car, be it gas or electric, to a real job, are far more important, than your digital currency. Energy supply has become an issue, and it is only going to get worse.

1 GPU mining for an hour will consume less energy than 1 GPU gaming for an hour because we tone down power draw. But like I said, it really doesn't matter
Still more power usage for those running multiple cards, 24/7. SLI is dead, so no modern gaming rig today is using more than 1 GPU, for gaming. An 8 hour gaming session would still use less power than a farm of 24/7 mining gpu's.
 
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Not freezing to death, in the winter, and being able to drive a car, be it gas or electric, to a real job, are far more important, than your digital currency. Energy supply has become an issue, and it is only going to get worse.



Still more power usage for those running multiple cards, 24/7. SLI is dead, so no modern gaming rig today is using more than 1 GPU, for gaming. An 8 hour gaming session would still use less power than a farm of 24/7 mining gpu's.
Well ya, just like 12 Honda civics will burn more energy than 1 freight train. So the freight train is more "environmentally friendly". Lol. Alright
 
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