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Is crypto mining still a profitable venture in 2023?

Is Crypto Mining Still Profitable? | Experts and Users Say It's Not Looking Good

By

Alice Thompson

Apr 3, 2025, 09:33 AM

Edited By

Rahul Patel

Updated

Apr 3, 2025, 02:21 PM

Illustration of RX580 and RX480 graphics cards in mining setup

A wave of skepticism is washing over the crypto mining community as discussions swirl around the viability of older GPU models like the RX580 and RX480 in 2025. A user recently queried whether investing in damaged GPUs was a sound decision—responses suggest otherwise, indicating a challenging landscape ahead for miners.

The Declining Value of Old Tech

Given the rapidly shifting market dynamics, many users are questioning the return on investment from mining rigs built around older GPU technology. Despite being able to replace ports, this user’s hesitation reflects a broader unease as mining profitability faces harsh scrutiny from both enthusiasts and experts alike. Users are increasingly unsure about the practicality of mining, especially when it comes to utility costs.

Amongst the community concern, a notable comment stated, "What if they don’t work? :)" amplifying doubts about whether these aging cards can even pull their weight in a market dominated by more modern chips. Another user bluntly remarked, "Those cards aren’t useful for mining and barely useful for low-end gaming. Just sell them!" This encapsulates the sentiment that the investment may not be worth the hassle.

The Community's Sentiment

The mood within the community can be summarized as largely negative. Comments reflect a consensus that if free electricity isn’t part of the equation, starting new mining ventures is highly discouraged. Observations from users echo the wisdom of selling old hardware for scraps instead of trying to mine with them:

"Pretty sure you lost money on them lol," highlights the overwhelming skepticism surrounding this user’s investment choices, setting the tone for the conversation.

Expert Perspectives

Industry experts are not holding back, asserting that efficiency improvements in modern hardware further darken the prospects for older GPUs. The current realities of electricity prices and ongoing GPU scarcity don’t paint a rosy picture for miners using outdated technology. Even sources in the community agree that, regardless of efficiency claims, miners using older GPUs are on a losing streak. As one user highlighted, even free electricity is unlikely to prevent losses when using such relics.

Current Impact and Community Outlook

As the discussion unfolds, a few key themes emerge: the imperative to innovate or pivot, and the stark reminder that mining with aged equipment has largely lost its luster. A chorus of community voices underscores the need for miners to reassess their strategies amidst declining profitability and evolving technologies.

Key Insights

The ongoing debate underscores a crucial question: As the crypto world evolves, should miners adjust their approaches, or does the cautionary tale of hardware obsolescence signal a more radical shift in strategy? While interest in the sector remains robust, the path forward seems treacherous for those clinging to outmoded technology.