MacBook Pro cryptocurrency mining profitable, but only just - 9to5Mac (2024)
With the new M1 Pro and M1 Max chips offering huge performance increases, a question occurred to me: Might MacBook Procryptocurrency mining be feasible? …
“M1 Max could mine ETH at 55MH/s? Memory bandwidth is between RX 6700 XT and RTX 3060 Ti.”
“If the M1 Max can do 40+ MH/s I’d order an M1 Max MacBook Pro instead of M1 Pro.”
“Facts to consider: It’s the most efficient SoC, it will consume much much much less power than a dedicated gpu. MacBooks resale value is basically the best in the market […] The SoC has multiple dedicated processors for specific things like screen output, super fast video encoding, encryption and an extremely powerful neural engine. If some world class apple and crypto mining programmer put his hands on it, magical things would happen. It’s basically both the most efficient generalized CPU and the most efficient programmable ASIC too.”
“I have the 64GB M1 Max 16″, running in high power mode, I am getting ~10.25MH/s with stock ethminer-m1 binary. Not blazing fast by any means, but it is pretty damn efficient, and the per W hash rate is probably really good.”
Naturally, someone has already put it to the test and run the numbers. YouTuber UFD Tech tested it with the M1 Pro model, as seen in the video below.
There are already precompiled binaries out there for M1 Mac crypto mining, and the video explains how to install and run one. In this case, it was mining for Ethereum.
The first thing to note is that you wouldn’t want to be mining in the background! The mining app destroys the performance of the machine for anything else, even casual web browsing, so you’d only ever want to do it when you’re not using your Mac.
The M1 Pro machine was generating just over 5Mh/s (megahash per second), which looks better when you factor in the total power draw of just 17W, far lower that would be consumed by a Windows PC generating the same result.
Running the numbers through a crypto calculator shows that the profit, after allowing for electricity costs, is just $12.82 per month – or around 42 cents per day. If you were buying the MacBook Pro purely for mining, that means it would pay for itself in… 17 years!
More realistically, you’d calculate the purchase cost minus the resale value after four or five years to base it on the true cost of ownership, but it’s still peanuts either way.
The M1 Max ought to roughly double the mining rate, and we’re not factoring in assumed rises in the value of the currency mined, but you can see that nobody is going to be buying these as mining rigs.
Of course, if you already own one, you might decide that there’s no harm in doing some MacBook Pro cryptocurrency mining when you’re not using the machine (other than the environmental harm of the waste of energy) – just don’t expect to get rich!
Some have speculated that Apple might get into the cryptocurrency business, either investing some of its own cash surplus, enabling crypto in the Wallet app, or even creating a hardware wallet. Tim Cook dismissed the first of these possibilities, at least for now, but did reveal that he has invested some of his own cash.
Yes, it is possible to mine Bitcoin on a Mac Pro, but it may not be the most efficient option. The Mac Pro's powerful processor and graphics card can handle the complex calculations required for mining, but it may not be as profitable as using specialized mining hardware.
The shortest amount of time it can take to mine at least 1 bitcoin is about 10 minutes. However, the actual time it can take you depends on several factors such as the hashing power of your mining hardware, the overall network hash rate, and the Bitcoin mining difficulty.
Bitcoin (BTC) Bitcoin is the largest crypto by market capitalization and the most popular cryptocurrency to mine, with a reward of 6.25 BTC per block - although this is due to halve soon. ...
“M1 Max could mine ETH at 55 MH/s? Memory bandwidth is between the RX 6700 XT and the RTX 3060 Ti. “If the M1 Max can do more than 40 MH/s, I would order a MacBook Pro M1 Max instead of an M1 Pro. » “Facts to consider: This is the most efficient SoC, it will consume much less power than a dedicated GPU.
Macs can be an excellent option for crypto traders. They're reliable, easy to use, and have seamless device integration. The only issue is, if you're the 'average Joe' trader, you won't need a device that's so pricey. Unless you're a hardcore Apple fan – you'll want the MacBook Pro.
On average, it takes around 10 minutes to mine 1 Bitcoin with ideal hardware. However, the time for mining 1 BTC depends on the hardware and software you use, especially on the mining power. But if you want to mine BTC with an average PC, you will make 0.00000058/year. Read further for a deeper understanding.
There is no minimum or limit to the number of GPUs you can use when mining, and can even start with 1. However, if you are into a serious mining business, a rig of 6 GPUs is recommended.
Mining a Bitcoin depends on your energy rate per Kwh, it costs $11,000K to mine a Bitcoin at 10 cents per Kwh and $5,170K to mine a Bitcoin at 4.7 cents per Kwh. Learn how and if mining right for you in 2024!
The Eagle Network mobile application enables users to mine Eagle cryptocurrency for free with just a click. By checking into the app every 24 hours and activating the cloud mining process, users can earn the native $EGON currency on the Android and iOS applications.
The Bitmain Antminer D9 is a popular crypto mining machine with an X11 mining algorithm, meaning it can mine popular coins like DASH. The D9 has a hash rate of 1770 gigahashes per second and a relatively low power consumption of 2839 watts, making it more affordable to run than many other top mining machines.
Historically, Bitcoin (BTC) has been one of the most lucrative cryptocurrencies to mine due to its high market value. However, other cryptocurrencies like Ethereum (ETH), Litecoin (LTC), and Monero (XMR) have also been profitable for miners, depending on market conditions and mining hardware efficiency.
The most cost-prohibitive aspect of Bitcoin mining involves the hardware. You'll need a powerful computer that uses an enormous amount of electricity in order to successfully mine Bitcoin. It's not uncommon for the hardware costs to run around $10,000 or more.
Ultimately, although Bitcoin mining is profitable, you still need to consider the risks. If you don't have the correct mining setup in place or your devices are running inefficiently, you could lose money.
It is still possible to participate in Bitcoin mining with a regular at-home personal computer if you have one of the latest and fastest graphics processing units. However, the chances of receiving any reward by mining on your own with a single GPU in your computer are minuscule.
So, can you mine cryptocurrency on a laptop? Yes, you can, but you have to keep a couple of things in mind. Firstly,mining on an old PC or laptop won't bring any noticeable income. Secondly, laptops, by design, are not suitable for crypto mining, and prolonged mining will cause damage to the device.
You can mine cryptocurrencies on any computer, but you will probably lose money since your electricity costs will be higher than your profit. Mining is very competitive and therefore has low profit margins.
Introduction: My name is Terrell Hackett, I am a gleaming, brainy, courageous, helpful, healthy, cooperative, graceful person who loves writing and wants to share my knowledge and understanding with you.
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