Any tutorials or recommendations on a mining rig for ether? I am trying to make $300 a month if possible.
Would need to look at how much you’re willing to spend initially on the rig and your electricity costs.
It really depends where you’re at in the process?
Have you purchased any hardware yet?
Have you considered where you’re going to operate it.
Do you have a reliable internet connection and one or two completely unused power circuits?
As far as hardware goes, I would always recommend looking at the ROI of any card. That’s the only number that’s important. It doesn’t matter if it mines at 10 mh/s if it only uses 20 watts to do it. (that would be awesome :))) )
For operation space, you need decent air ventilation if you don’t have an air conditioner, lots of fresh moving air. Or a big ass window AC.
Now in order for you to get around 300 a month, you’re going to need to run about 4 1070’s. This is a really attainable goal. You can do that with one power supply and one motherboard.
I have a small miner sitting right next to me with 4 1070 ASUS ROG STRIX O8G’s right now. Message me if you’d like more details, happy to help.
Just a quick heads up in case this is a deal breaker, you’re already looking at over $2000 of hardware up front.
After finishing residency, I finally have a little bit of cash to start mining myself, and so I did. Peter helped me get into crypto so props.
1st of all, as Gareth mentions, the initial cost is not cheap. investing straight in to crypto is more profitable for majority of people as the ROI on setups are >6mos.
1st of all, how much is your power cost there? I am in houston, and i am at 10 cents / kwt
GPU - 3 x GTX 1070s
PSU - 1000wt Corsair gold
Cpu - Ryzen 5 1400
Mobo - ASUS w/ 2 16x GPU slots, 2 1x PCIes
Ram - 16gb DDR 4
SSD - sandisk 240gb
Generic mid ATX case - too small for 4 GTX 1070s lolzzz
OS - windows 10
running claymore and msi afterburner each Gtx 1070 is at 31.3-31.7 Mh/s ether totally stable at 63-65 celcius GPU temp
I havent tried dual mining yet, but that is another option
You need a way to track the wattage your pulling at the wall socket
Per tons of recs, I got a Kill-A-Watt
w/ just 1 GTX 1070, here are my crypto calc numbers
Just to few thoughts after reading that parts list right away, don’t use an expensive processor, focus on getting the lowest Wattage proc you can.
CPU, a celeron or an i3 will be fine
RAM, you don’t need more than 8GB unless you go over 4 graphics cards, in that case, 16gb will be fine.
PSU, you want to make sure to use a platinum or gold rated PSU. Also, count the wattage from your cards (assuming max) and make sure you’re at 80% load on the PSU.
MOBO, you do not need 16x slots for performance, 1x will do just fine. Make sure when you get risers to use the 006C version and do not use the SATA to 6PIN power adapters if at all possible. If you do, one per cable, no more.
SSD, you need about 5 gb of space, I run most of my miners on thumb drives. If you can’t boot to a thumb drive, use the cheapest SSD you can find.
CASE, open air, just get some wood and frame up an open air case, you can find guides on google and use about $20 worth of wood and screws.
Just some extra thoughts to add to the discussion.
Ah yes I forgot to add - I spent too much on the base components - lesson learned!. Thx for pointing that out!
I had consciously meant to include that lol.
I would recommend buying a motherboard that supports 7 or 12 graphics cards. Room to grow into down the road.
Thanks guys! Do you guys suggest building or doing a cloud mining contract with genesis mining or hashflare? I dont have any equipment right now but doing a lot of research.
@nyth I’m going to start putting out information on how to build your own rig. My quick thought about GM and Hashflare is that it’s a waste of your money.
@ImaginaryPi Can’t wait to read your information on how to build your own rig! When do you think you will post this by? Also what is your reasoning behind GM and Hashflare is a waste of money?
I’ll answer your question about my reasoning for GM and Hashflare being a waste in another thread. It’s a topic all of it’s own.
Renting equipment mine is a complete waste of money. I blew $62 last week investigating that avenue.
I ran several experiments:
- mining the Scrypt coin with lowest difficulty rating (CANN in this case).
- mining the most profitable X11 coin (as reported by coinwarz – DASH).
- multi-pool mining under the rental firm’s management.
- mining most profitable Skunkhash coin (SIGT at the time).
- mining SIACOIN (SC) – just for kicks.
On that $62, I mined $22.95. The most profitable coin to mine, surprisingly, was CANN. I’m still awaiting the DASH block my miner’s pool was working on to discover and payout, so the net proceeds may change later this week.
Wow! Thanks for this @mwlang. Hard evidence to support my research. I believe the reason why CANN was so profitable is because on Friday and Saturday it experience some pump and dump.
Yup. And there was very few people mining it, too, so I was getting a large percentage of the payout each round.
What I’ve been ultra-curious about is where that pump and dump came from. It jumped to nearly 6 cents before falling back to 3 or 2 cents. It’s been an otherwise dull coin with a nearly flat line.