Author

Topic: Free electricity, want to start mining (Read 573 times)

copper member
Activity: 1428
Merit: 253
February 19, 2013, 02:01:32 AM
#3
So, I've recently moved and my new location has free electricity. This made me think about mining (that and the recent spike in btc price). Problem is, I've never mined before (only been selling/buying), so I've little idea about what to look for. If anyone is up for giving a little guidance about what to buy, it would be much appreciated Smiley

Preferably I'm looking for a one-click buy option, but am willing to invest more time/work in it if needed. I'm not looking for something super powerful (dunno if 1 block/month is asking much Huh).


Oh, and also, heard some about ASIC, have anyone tried anything from butterflylabs? or, in other words, would this be a good buy http://products.butterflylabs.com/homepage/4-5gh-bitcoin-miner.html ?

TL;DR power consumption is of no concern, need help on finding a mining rig.

forget about ASIC as it's not generally available yet.
If you know how to build a computer, buy a motherboard with 4/5 PCI Express slots, buy a cheap processor Senprom or similar, buy a nice PSU 1000/1100W, buy a cheap case (if you want to have a clean setup), buy one stick of RAM 2/4GB will do, and buy three Radeons 7970, you don't even need a HDD nor a DVD Drive... just install linux, setup the AMD Drivers and use CGMiner or something like that.
with about $1100 in investment you should be able to get abour 2000Mhash/s and collect about 7 BTC/m at current difficulty.
that's almost $200... If you like free money, then buy another rig, but watch out because someone's power bill will increase considerably.
Good luck!
hero member
Activity: 1036
Merit: 500
February 19, 2013, 01:36:02 AM
#2
The ASIC machines arent quite on the market yet, and if you order now it will probably be 6 months or so before you receive your unit.

Who knows what the mining scene will be like then, but it will likely be highly, highly competitive.

If you want to do it NOW, maybe get a multi-GPU farm going. If the power is free, your risk is low as you can always sell the GPUs back on ebay.

The ASIC machines will likely be doorstops in a few years time, as they can only do one thing.
newbie
Activity: 2
Merit: 0
February 19, 2013, 01:24:47 AM
#1
So, I've recently moved and my new location has free electricity. This made me think about mining (that and the recent spike in btc price). Problem is, I've never mined before (only been selling/buying), so I've little idea about what to look for. If anyone is up for giving a little guidance about what to buy, it would be much appreciated Smiley

Preferably I'm looking for a one-click buy option, but am willing to invest more time/work in it if needed. I'm not looking for something super powerful (dunno if 1 block/month is asking much Huh).


Oh, and also, heard some about ASIC, have anyone tried anything from butterflylabs? or, in other words, would this be a good buy http://products.butterflylabs.com/homepage/4-5gh-bitcoin-miner.html ?

TL;DR power consumption is of no concern, need help on finding a mining rig.
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