The short answer is: NO! Don't even think about this!!!
A few weeks ago, a post about mining Ethereum with Google cloud computing caught my eyes.
https://steemit.com/ethereum/@grunzwanzling/ethereum-mining-with-google-cloud-nvidia-tesla-k80-actually-works-and-is-highly-profitable
The post stated that the hash rate can be 1721 Mh/s with Google Compute Engine (of 8 Nvidia Tesla K80 GPUs), costs about 4$ per hour, 2900$ per month. Which means the monthly revenue could be $5000 even based on today's figures! (a monthly profit of $2100 ! )
Sounds too good to be true...
The only way to prove this is to test it, so I configured the same instance in Google Compute Engine( 8 CPUs, 30G memory, 50 G hard drive and 8x Tesla K80, cost $2300 per month ) and here is the result:
Hashrate: 350 Mh/s
Daily mined: 0.038 ETH
Monthly: 1.14 ETH, $1238 ($1086 per ETH on 1st Feb, 2018)
To be profitable, the ETH price must be $2020 minimum, by then, the mining difficulty must be a lot different. Maybe the ETH could worth $5000 one day, but the point is, the real hash rate is around 350 Mh/s, how could it be 1721 Mh/s !
So can we make profit by mining other crypto coins?
Just out of interest, I did some other experiments with a few more coins from different algorithms, check this out:
*
Hash Algorithm: Equihash
Coin: Bitcoin Gold (BTG)
Hashrate: 870 h/s
Daily mined: 0.04 BTG
Hash Algorithm: Cryptonote
Coin: Monero (XMR)
Hashrate: 1300 h/s
Daily mined: 0.0068 XMR
Hash Algorithm: Blake2s
Coin: XSH
Hashrate: 11.7 Gh/s (billion)
Daily mined: 180 XSH
Hash Algorithm: Blake2b
Coin: Sia coin (SC)
Hashrate: 4400 Mh/s
Daily mined: 67.5 SC
Hash Algorithm: Cryptonight
Coin: ITNS
Hashrate: 2080 h/s
Daily mined: 175 ITNS
Hash Algorithm: Skein
Coin: DGB
Hashrate: 936 Mh/s
Daily mined: 93 DGB
I was planning to do more experiments, but just don't think it is worth doing it anymore. Each test took about 1 - 3 hours to setup, costed about $4 - $10 on Google cloud, I could rather spend my time on something else.
That's all from me, hope you find this post helpful.
If you are interested of doing more mining experiments with Google Cloud,
please do share your results.