Topic: New rig advice (Read 456 times)

This thread was a refreshing and interesting read. Didn't realize people still mine with $0.15 electricity (so many things can go wrong!). But ok i get if it's for "hobby" purposes. But thats a really costly hobby (then again there are also other costly hobbies like, sky diving, yacht racing, and other much more fun stuff)! I hope people at least look at installing solar panels as a primary hobby before getting into mining.

solved

just install new nvidia deriver with clean install

hello everyone

i have problem with 9th nvidia gpu added by m2 adaptor to z270-a and windows 10

i can just mining with 8 cards right now

anyone know what should i do ? 

There is many approaches on mining. "Why on the same street same kind of shops which sell same goods do better some others and some gets bankrupt " Same with any other business if you don't have a clue what are you doing you will fail. There will always be a way to make money in mining until pow exists.
You just have to find cheapest OPEX and CAPEX , that balance will make you profit. Doesnt matter what currency price does, if most of the people mining profit doesnt cover OPEX they will go bankrupt. This decreases difficulty and gives you access to more coins with the same hashrate.

I think it as a race, if you can do cheaper then anyone else you will always be a winner. You need to look at historical mining profit charts, and see what is the lowest costs you need to get to stay in business all the time. If you can do this, then mining is quite safe business. Of course if someone who wants 1-2 mining rigs from home is not the case.

Only add new hardware if you can run your farm with money out of your own pocket for 6 month +
Since crypto is fluctuating, you dont want to be forced to sell to pay for that electricity and get rekt
Only buy EVGA card, best warranty /resellable value and transferable warranty, and maybe gigabyte too
Try to get GPU with backplate, easier to resell to gamer

I would not get 1070, try to find some 1080 ti for density and cost including all hardware per rig is pretty much the same
+Less card to sell and easier sell since it high tier GPU
5700xt seem promising too, but I would wait for the next card from AMD since it should be close to the Radeon VII
You can mine ETH to be safe but it low profit or you can also try to mine some speculative coin,
or 50/50 , Like mine enough ETH to pay electricity and speculate with the other rigs
Ive made way more mining speculative coin that if I had only mined ETH, like 5x more profit in 3 years on a lot of different coin to mitigate risk, coud have made way more too, but I like to hold for moon or nothing kind of strategy
Look around , theres still lot of really profitable coin out here,
Im currently making 3 $ day per rx 580
Get some ryzen, that way you can also do CPU mining, dont listen to those noob that say CPU mining dead
There some coin that so profitable to mine using CPU than you can ROI your cpu/board in less than a month easy
Just have to use your brain and find those promising coin

If he wants to mine for fun then just let him. This is no different than people buying those USB Sha256 stick miners and mining bitcoin with them in 2015+. Basically you will never find a block, and if you pay anything more than 1 cent for power, you will never even break-even. But people still buy them, even if they unprofitable instead of buying the coin because they do it for fun and to get into a hobby.

He has the right mindset, same as the people I knew in 2016 who were mining ETH when it was $10/coin and they were breaking even on power costs. But they held all that ETH until it hit 4 digits and laughed all the way to the bank.

Don't you understand what people are trying to tell you? If you believe in crypto and are looking long term anyway just buy the coins directly. Expanding mining at this stage makes no sense at all. Your electricity costs is way too high and gpu mining is dead. Sure you can mine for fun but you don't need to lose money investing in 6 rigs.

/edit: just did the math with your numbers. I got 28x rx580 8gb (well I don't run them anymore of course) producing around 860mh/s with 3800 watt power consumption, if I put in 15 cents for your costs roi would be minus 34% per day. Why would you pay for hardware in order to pay more for mining eth instead of buying it cheap. But if you are so keen on mining I can offer you a deal. You can have all my cards for free (all sapphire, run with low voltage modes) - just give me 1 eth back per month for the next 12 months ;-)

Not all the times because you wouldnt know on what comes next.Being too optimistic do have its own risk to but on your case it turns out to be some sort of luck that the market did tend to spool up and come to think that not all miners are willing to pay up directly with their own pocket and some are just depending on their mining earnings.
@Raja. for $.12 per kwh its already non profitable how much more on 15.If he decides to proceed in spite of this factor then he do see mining as a hobby. hehe

People thinking on adding more GPUs to mine?? insane. Brutally insane.

There is good stories and there is bad stories. My personal experience has been quite good, started mining eth in 2016 with 13c € a kw/h , paid power from my poket. And managed to make good few Zeross with only 6 mining rigs. Its not a luck, i belive harder you work luckier you get...ha ha ha

So... you're not really giving up on mining with $0.15 per kWh? With all the maintenance costs and this price of electricity, I'd recommend you to get your solar energy system completed before increasing the number of your rigs (that solar setup should be your priority IMO). I gave up on mining due to having the power valued at $0.12 per kWh (it didn't really look like being worth it even at that price), and it's interesting to see someone else trying to build up a mini mining farm with an electricity cost more than mine; I sort of appreciate that!

About the wallets, it totally depends upon what YOU are going to plan with your mining revenue. Do you plan on trading them? Or just HODLing them?

Another Card you should look into is latest AMD RX5700/XT , Very efficient mining ETH about 60mh/s at 100watt.
Best To use ofcourse is some ledger wallet, but if you want to wash them trough exchange. Use some exchange where you can deal without KYC
Think Binance has 2k daily limit without KYC

Thanks for your help / advice guys... always better to hear other peoples views.

I am hopefully planning add 2 x AMD rigs to compliment our existing 580 rig...

and then start adding Nvidia rigs aswell to make a mini farm.

I have not looked into the 1660ti so I will do some research into these... but its looking likely I will have 1070 and 1660ti rigs going forward.

Do you guys mine to coinbase wallets and extract onto a Ledger Nano or sell/trade weekly/monthly?

Thanks

Always buy nvidia for mining and gaming. Used nvidias are the most bang for the buck especially after undervolting it with nvidia inspector 

At that power price, mining will be quite tough now.
But the most suitable cards which will be at profit mining eth at that electric price , would be 1660TI . They are very energy efficient. But also quite pricey. They are quite efficient also on algorithms for grin, raven beam etc...
Current profibilaty 6xgpu 1660ti mining rig at your electric price.



Checkout i did some benchmark testing :
https://mineshop.eu/2019/04/25/nvidia-gtx-1660ti-mining-benchmark-testing-on-hiveos/

Hi,

Am I right in thinking that the Algo will be changing so it will be more difficult to mine ETH with AMD cards?

We are looking into the 1070 side of things now, just trying to figure out what price we should be paying for a full 6 rig setup.

We are not in it for daily profit more the long term game.... but looking to make a small farm with about 10 rigs in total.

Thanks

Cudo Miner's Top 5 Active GPU's on our platform:

1. GeForce GTX 1070
2. GeForce GTX 1060 6GB
3. GeForce GTX 1080 Ti
4. Radeon RX 580
5. GeForce GTX 1060 3GB

GeForce GTX 1070 has always been a consistent card for mining and not super expensive.

if you want to build a new one

prefer to build a Nvidia rig.
go 1070 or 1070ti first.  (you can choose 3 fan models for more cooling and silence)

if you want to build a ethereum rig with maximum performance/price ratio, you can find and collect  Rx470 8 gpu's in second hand from gamers,  (8g are very rare).  Or you can find a second hand rig.  they are best for ethereum.  maximum performance/price lowest wattage/hashrate.


But my choice would be for the  gtx1070 in second hand.

£0.12 for electricity? It translates to $0.15. Just give up, buy whatever coin you were thinking to mine instead. Not worth the trouble.

GPU mining is pretty dead too. Almost every major alt are already infested with ASIC's. (and they are using nearly free electricity) Give up.

Hi,

I have been offered 6 x Gigabyte 1070's (used - Not for mining though) for £1000

I am not mining for daily profit as currently I am paying 12p (UK) per KWH - I am long term mining to hold the coins and hopefully waiting for them to rise and then sell/trade.

I am also in the process of setting up solar energy to help with the running cost (day time) then battery charge to pickup the 4/5 hours and then use economy7 electricity thereafter before the sun comes back up and goes through the same process.

Thanks

What's your cost of electricity? If you are thinking about adding 1070's it must be very low.

Even if you have free electricity, whattomine says you'll be making around $0.57/day with 1 1070.

Are you sure about this investment? Buying and holding coins makes more sense to me. Also what's the price for those 1070's? are they new, used? There are many variables.

I'm checking the other GPU's too, their numbers are not bright neither.

Hi,

I am looking to expand our GPU mining setup... adding another rig..

We already have a RX 580 ROG setup ticking along with 30mhs per card.... In your guys opionion should we now be looking to add Nvidia rig to the setup?

I understand the ALGO could be changing soon for ETH which will make our RX580 not as usuable.

Would you guys reccomend adding the next rigs as 1070's...? We are aiming to have about 10 x 6 card rigs.

Thanks

Anthony