Crypto Mining

RetardedMonkey

RetardedMonkey

Active Member
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As per request in another thread... the crypto mining thread!

This guy is my go-to for information on mining. He's an experienced guy with a great very many rigs and has been mining ETH for quite some time

https://www.youtube.com/user/BitsBeTrippin

At the moment I am building 2x 6 GPU rigs to mine ETH. ROI is around 2.5 months mining 5-6 coins per month. Obviously fluctuations in price will affect this, but I am fine with that.

Show me your rigs! I'll post pics soon.
 
thanks for starting this thread, I'm sure many people will find it interesting (me being one of them)

I saw you gave more details in the other thread, but can you please post it here. (full spec breakdown)

i look forwards to seeing the photos :D
 
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dozerz said:
wondering how this is profitable with power costing 0.25c kw?
Click to expand...

Lest's do some rough calculations.
average cost per GPU $580 x12 = $6960(all in component cost around $10,000)
average hashrate per card of 18MH/s x12 = 216MH/s
average power usage per GPU 130W x 12 = 1560W (all inclusive maybe around 2000W)
average power cost day/night 20c KW/h

www.cryptocompare.com
this site says about $1200 AUD profit per month (not including equipment most)
So maybe a true ROI in 8 months? Then it's all profit! well until GPUs start dying ;)
So maybe a 12K per year money machine at current ETH prices. Plus you get a free heater!

But keen so hear a more accurate breakdown from the OP.
 
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leo25 said:
But keen so hear a more accurate breakdown from the OP.
Click to expand...

I guess there's no harm giving my exact breakdown of a single rig, parts of which I've tried to obtain on sale, especially during EOFY sales at stores and eBay:

Components:
6x Video Cards: $1,794
Board: $156
PSU: $212
CPU: $59
RAM: $40
Custom Case: $45
PCI-E Risers: $59
Total is $2,365

These video cards are GTX 1060 6GB, which when overclocked and under-volted can achieve 23.7MH/s (I've tested this) each, and the entire rig will only consume around 500w in total.

So in summary, 142.2 MH/s, 500w and $2365

e4Xygvf.png


It's in USD for ETH, so I converted AUD$0.25kWh (my current electricity cost'ish) to USD$0.19kWh using a 0.76 exchange rate roughly.
This gives me $716.33/month profit after electricity costs. That's in USD. So bringing that into AUD with 1.32 rate, means a profit of $945.55, at current rates.

Divide rig cost by profit per month and it gives me spot on 2.5 months to pay it off.

This calculator above is https://www.cryptocompare.com/mining/calculator/eth for anyone interested. It does the major coins.

...I hope I didn't do any math wrong.
 
As for specific parts, I am using the following:

ASUS Prime Z270-P
Intel Celeron G3930 LGA1511
Crucial 4GB DDR
Corsair RM1000x

Motherboard is important, it'll determine your total video cards (unless you're keen to run the new 1x x16 PCI-E --> 3x x1 PCI-E boards appearing around the place). The above board has 6x PCI-E slots, but there's going to be boards dedicated to mining soon, which are apparently coming with as many as 12x PCI-E slots. Power then becomes the main issue, but with ETH you're usually under-volting the video cards substantially as it's a GPU memory driven algorithm, so doesn't need as much core clock and power as other algorithms like ZCash is using. RAM and CPU choices are "literally" so you can boot into an operating system, cheapest is best.
 
Outstanding!. Thanks for sharing.

I am jealous. I'm an IT guy but I am not very hardware savvy. Would love to set up something like this.
 
RetardedMonkey said:
Components:
6x Video Cards: $1,794

These video cards are GTX 1060 6GB, which when overclocked and under-volted can achieve 23.7MH/s (I've tested this) each, and the entire rig will only consume around 500w in total.
Click to expand...

1st, where are you getting 1060s for only $300AUD? that's a fantastic price!

2nd, 1060-cryptocurrency-mining-65w In this article they are claiming each 1060 draws about 65W to achieve 22MH/s (tweaked). I'm guessing your setup would look something like this.
70Wx6=420W (a bit more power to get to 23MH/s)
CPU, RAM, HDD, motherboard, say 50W
PSU losses say 5% 23W
total about 500W, as you said.

Have you used more then one power meter to confirm the power readings from the wall? if so that's an amazing setup. I'm now very tempted to do the same.
 
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leo25 said:
1st, where are you getting 1060s for only $300AUD? that's a fantastic price!

2nd, 1060-cryptocurrency-mining-65w In this article they are claiming each 1060 draws about 65W to achieve 22MH/s (tweaked). I'm guessing your setup would look something like this.
70Wx6=420W (a bit more power to get to 23MH/s)
CPU, RAM, HDD, motherboard, say 50W
PSU losses say 5% 23W
total about 500W, as you said.

Have you used more then one power meter to confirm the power readings from the wall? if so that's an amazing setup. I'm now very tempted to do the same.
Click to expand...

eBay during the sales mostly for the cards, but also sourcing them from smaller stores around the place that haven't quite picked up on the crypto boom yet. First six were $299 each, second six were $291 each, so I've scored some deals there.

As for power, you're pretty much spot on. I haven't tested this myself yet because I don't have all 6 cards in the one setup just yet, but judging by what others have found, it's pretty consistent around that 70W mark per card. The system will draw next to nothing either as I've bought the lowest TDP CPU you can obtain (about 51W TDP). Even if the power is off by 10-20%, the returns won't be affected too much at all.
 
My main struggle at the moment is the PCI-E powered risers. They're sparse in Australia, and AliExpress takes between 25-50 days to get here.
 
Ok, I hope it all goes well once you get it going. Please let us know the official wall power usage once you got it running.
 
What about mining obscure coins that are not yet mainstream along side those that are ?
I mined a hell of a lot of such coins a short three years back with my rig's at the time.

Potcoin went from basically worthless to over .20 cents US just last week.

A single power bill cycle has netted me over 30 K AUD in the last month in a single mined currency.

Still have a few old wallets to update as well.

Mining alt coin's is state of the art frontier type stuff in today's age. Ask all those around you at every level, ask those here on SS "who is mining"....

Ask all your friends and workmates what they know about Alt Coins fulll stop ?

A whole new frontier and basically SFA know about it in our world, even amongst PM people.











in the last month
 
I was reading that Ethereum will be moving from proof of work to proof of stake (maybe next year?) i wonder if it might be too late to start making decent money mining today?
come next year there is going to be a massive 2nd hand GPU market. I might build a few cheap gaming rigs :)
 
well done on the rig. i mined litecoin and plenty of crap coins a few years ago. while it was fun if you want to invest your best bet is buy and hold over mining.
 
dozerz said:
well done on the rig. i mined litecoin and plenty of crap coins a few years ago. while it was fun if you want to invest your best bet is buy and hold over mining.
Click to expand...
I was also mining back into 2013~, ended up making a bit of coin from it, not as much as I could have though!

I am planning on mining rigs for the hobby aspect, but also holding additional coins that are more of an investment.
 
This mining stuff is interesting even for people who don't want to go all in.
I like to play pc games and i just bought a new 1060 GTX card which will probably more or less pay for itself in a few months.
If you already have a pc it is not a very great investment to put one good card into it and mine while you don't use it for gaming.
I'm mining ETH in the background while writing this an i can still use the pc for downloads/surfing etc...
 
That's something a lot of people don't get as well, you don't need to go all in unless you want to. A decent single card can pay for itself or even another one over a few months and you get a fast gaming interface when you want it as well.
Making money from all this can be quite passive, you don't need to trade, have a massive mining rig, invest etc. You can do it on the side a little at a time and make a few extra hundred here and there which all adds up over a year or so. A few hundred extra dollars at Christmas time or when the power bill arrives can actually make a bit of a difference considering it takes SFA to initiate and collect the benefits from.
 
Bit of an update.

I now have 2.5 rigs mining 24/7.
12x GTX 1060s and 2x GTX 1070s - purely on Ethereum for the moment.

I am getting around 340MH/s from all of this, for about 1300w

Even with the difficulty increases, I am still seeing around 4.7 ETH per month return, which has the ROI at about 3.5 months now - bit longer, but I don't really mind.
 
I have a gtx 1070 in my PC, so I thought ill let it mine when i go to bed. I left it stock as i want the card to last a while. I'm getting 25MH/s and it's running at 61 degrees inside my case. Also at night power rates are much less, so that helps.

Not really going to make much from this, but just a bit of fun with hardware i already have.
 
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