Internet cafe switches to crypto mining farm as pandemic hits profits

[midian182]

WTF?! Covid-19 has had a devastating impact on many businesses, but some have survived by pivoting to generate new sources of income. For one internet café in Vietnam, the answer was to switch to cryptocurrency mining.

As tweeted by @I_Leak_VN (via VideoCardz), Internet Café Computer Star has an impressive setup, including a number of RTX 3080 graphics cards—not surprising as it's owned by a computer store. The location features three floors of gaming fun, but it seems the pandemic has caused a drop in profits.

When COVID attacked my country again and this was the idea of big CafeNet's crazy minds

Hint: There are 3080 graphics cards with very nice RGB (first image)@VideoCardz @death_1125 @TechDeals_16 @9550pro @harukaze5719 @hms1193 @kopite7kimi @3DCenter_org @JokerReview pic.twitter.com/vgh16hRNDF

— I_Leak_VN (@I_Leak_VN) February 15, 2021

In a Facebook post, the company says it is switching its business model from an internet café to a mining operation as “Profits are higher.” According to Google’s translation, the post mentions “Transforming business in the pandemic,” so the move appears to have been prompted by Covid-19.

With the price of cryptocurrencies such as Ethereum and Bitcoin reaching record levels, and many businesses—even those not subject to lockdown restrictions—suffering the economic impact of the pandemic, this looks like a shrewd move, especially as the PCs can constantly be mining.

Crypto mining - RGB style

The other advantage is the café’s supply of RTX 3080 cards. Ampere GPUs are especially efficient at mining, as shown by Ethereum miners purchasing laptops with Nvidia’s latest cards directly from the manufacturers.

The rising price of cryptos and a chip shortage have pushed the GPU market ever closer to the bad old days of late 2017/early 2018 when graphics cards were almost impossible to find, and those that were on the market cost a fortune. The next entry in the Ampere series, the RTX 3060, arrives next week with an MSRP of $329, but even the pre-orders are up to 75 percent higher than that price.

Permalink to story.

https://www.techspot.com/news/88642-internet-caf-switches-crytpo-mining-farm-pandemic-hits.html

 

[terzaerian]

But "ban crypto mining," right?

I'm fortunate enough that I can afford to mine casually as a hobbyist but people like this are clearly suffering. It's no business of anyone else what they choose to do with their GPUs. Its first world chauvinism in the Nth degree that thinks they know best in this regard.

 

[Nobina]

Everyone and their dog is mining crypto with GPUs, we get it.

 

[VitalyT]

Internet café switches to crypto mining farm as pandemic hits profits

Crypto mining is the pandemic.

 

[Squid Surprise]

Smart move - what we have yet to see are thorough reports on the effects on the longevity of the GPUs when they are mining 24/7.... Assuming it has little adverse affect though, they'd have to be crazy NOT to be mining!

In fact, I'd be surprised if they didn't have the PCs set to mining while the place is "closed" once the pandemic is over and gamers return.

 

[QuantumPhysics]

I actually see no problem with this. They should earn more money mining than they do letting people just use the network since Cryptocurrency is so great!

They'll use more energy, but it's in someways more efficient.

 

[terzaerian]

Speak of the devil:

https://www.coindesk.com/coinbase-ethereum-2-0-staking-waitlist

Ethereum 2.0 is proof-of-stake and isn't mined; eventually, the entire Eth 1.0 chain will be migrated to it.

I know I signed up for the waitlist, to earn from staking as much as finally shut the mouths of the god-botherers whinging about the environmental impact of crypto mining.

 

[kiwigraeme]

I wonder if the special weed growers who sipon off electricity will do this - or folks will be secretly mining at their work places

 

[terzaerian]

I wonder if the special weed growers who sipon off electricity will do this - or folks will be secretly mining at their work places

That would be most unwise. Generally speaking, anyone leeching off their work's power to mine eventually gets caught, and harshly punished:

Russian nuclear scientists arrested for 'Bitcoin mining plot'

Reports say scientists at a Russian nuclear bomb factory tried to mine crypto-currencies.

www.bbc.com

 

[Theinsanegamer]

Smart move - what we have yet to see are thorough reports on the effects on the longevity of the GPUs when they are mining 24/7.... Assuming it has little adverse affect though, they'd have to be crazy NOT to be mining!

In fact, I'd be surprised if they didn't have the PCs set to mining while the place is "closed" once the pandemic is over and gamers return.

:Longevity of mining GPUs" has been rolled out as a war drum to bang on for almost 10 years now. It's been long established fact that thermal cycling is what causes fatigue on solder sockets, which causes the majority of GPU card failures, its not mining that causes this wear and tear, its gaming that does that. Mining GPUs are usually run with a slight undervolt/underclock to maximize perf/W to maximize profit, and even if they sit at 90c, if their temperature stays steady its not going to harm them, even running for years on end.

The ex mining 290xs were not dying in droves, neither were the ex mining vegas. The ex mining 3000/6000 series will be fine as well.

 

[jbc029]

The ex mining 290xs were not dying in droves, neither were the ex mining vegas. The ex mining 3000/6000 series will be fine as well.

What are "ex mining vegas"? Was I supposed to shut those off at some point?