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Creating a soft of self sustainability if you will. It might not be possible?
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3Short answer: not by a long shot.– ThePiachuCommented Oct 28, 2012 at 18:20
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Also related - bitcoin.stackexchange.com/questions/1063/…– ThePiachuCommented Oct 28, 2012 at 18:21
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1Short nitpick: obviously not. If it did, everyone would do that, and the prices and difficulty would auto-adjust accordingly.– o0'.Commented Feb 8, 2013 at 18:49
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Surely the compute costs would rule it out anyhow?– LloydCommented Feb 9, 2013 at 0:24
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2 Answers
AWS is rental of server instances. Servers without GPUs. Bitcoin is not cost effective when mining using CPUs, so nobody has done that analysis for nearly two years because its an obvious money loser and becomes a worse option with each passing day of rising difficulty.
Now EC2 (compute cluster) does use GPUs but NVidia GPUs which don't perform at a fraction of the level of AMD GPUs for the specific purpose of Bitcoin mining. Although it was not analyzed recently, a calculation from a while ago provides numbers in the right ballpark, if not better than they would be today. In that study costs you more than twenty dollars of EC2 charges to earn one dollar of bitcoins.
Once ASICs ship that difference will increase possibly by an order of magnitude.
answered Oct 28, 2012 at 15:35
http://blog.brycekerley.net/post/5338746136/bitcoin-mining-on-amazon-ec2
Here its explained at best, that it is NOT profitable even on the GPU servers ;)
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That post is pretty old though. Exchange rates were different then. Commented Apr 14, 2013 at 8:35