Chinese GPU Miners Buying Nvidia Laptops to Mine Ether

Jafrin  |  Feb 9, 2021

Nvidia’s latest GeForce RTX 30 laptops have come under the eyes of GPU miners in China for mining Ether (ETH). As per estimations, one GeForce RTX 3060 laptop can potentially generate up to around 2.3 ETH per year ($3,900) at the current price. That itself can cover up the cost of the laptop and energy costs in China.

GPU Miners Using Nvidia’s New GeForce RTX 30 Gaming Laptop to Miner Ether

Nvidia’s new GeForce RTX 30 gaming laptop initially arrived in the market on Jan. 26, priced between $1,000 and $2,000. Since its release, the laptops received considerable attention from the crypto mining community with reports of bulk purchases from Chinese GPU miners. On Feb. 6, a Weibo user posted a series of images that showed GeForce RTX 30 series gaming laptops making up a crypto mining farm.

The picture in the post depicted dozens of laptops stacked up on shelves, suggesting a mining farm was set up using the new Nvidia’s New GeForce RTX 30 laptops specifically for mining Ether (ETH).

Usually, it’s only possible to mine cryptocurrencies profitably with desktop GPUs sold alone. Prebuilt systems and laptops include components that aren't miner friendly. Although, it doesn’t seem to hold true due to the improved performance offered by Nvidia's new GPU releases.

A recent fun video by a Bilibili user showed how easy it is to mine cryptocurrency on a laptop equipped with a new RTX 3060 graphics card. Using a laptop plugged into the wall socket at Starbucks, the user reportedly mined 0.00053 ETH (worth an estimated $0.89) in just two hours.

Ether Price Spikes Associated with High Miner Rewards

Ether price spikes have been historically associated with higher miner rewards, generated mostly through the high gas fees. On Feb. 5, the average gas fees of Ether peaked to at an all-time high of $25 amid Ethereum breaking above $1,700. Meanwhile, Ethereum is set to become a Proof-of-Stake blockchain. This signifies that the Ethereum mining community will have to find other options to generate rewards.

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