I have read many posts on the internet that ask the question if Ethereum mining with Nvidia Tesla K80 graphic cards in Google Cloud Platform Compute Engines is possible and profitable. There seem to be different opinions out there and I have seen results between 13 and 200 MH/s but not a single comprehensive overview.
I configured a Compute Engine with 8 Nvidia Tesla K80s which costs about 4$ per hour (2900$ per month). Here are my mining results:
The average hashrate was 1721 MH/s. With this hashrate I earned 4167$ (14.10 ETH) per month. That is a huge profit of 1267$ (+43% return)!
It gets even better! Most cloud mining contracts have a really long runtime and the risk of mining profitability going down before you have your money back is high. Really good contracts pay back in about 200 days but most of them take several years.
With Google Cloud there is absolutely no risk because you don’t have to pay up front and can cancel at any time. That means that the payback time is just a few minutes. You can even change the specs of your machine on the fly by adding more GPUs, CPU cores, RAM or HDD storage while it is running.
Conclusion
I really don’t get why this works so easily. One would think that Google Cloud prices would skyrocket once someone started mining on them, but apparently only very few people are doing it right now.
What you should do
Get in on it fast! Once more people know about it, Google will either drastically increase prices or block mining somehow. I am currently enjoying my 1267$ of risk free money each month with 8 GPUs but I will upgrade to 4 machine so I can have 32 GPUs. This will make me over 5000$ a month. If you do so as well, I would be happy about a short reply to see how it is going for you.