Mining Rig Operation

Has anyone here built themselves a mining rig for crypto? Lately my investments have been making enough money that the hobby has become my full-time job. Now that I have some capital I went ahead and ordered the parts for the first rig. That was the drudgery, now for the fun part. I'm considering the most efficient possible room cooling designs to keep temps low. I could go the ol' box fan route, but I have access to a fruit packing house that's current out of season and chills down to 34F. I'm also not opposed to cooling in a mini-fridge in a tupperware full of mineral oil. Thoughts and suggestions?

you could crack a lot of passwords with that.... https://hashes.org/

>>237 >I'm considering the most efficient possible room cooling designs to keep temps low. Aren't you are optimizing the wrong parameter. Shouldn't you seek the most efficient design to maximize profitability.

1 stage phase cooler that chills down antifreeze and with liquid cooling circluates it around to every GPU block look into http://www.overclock.net/f/133/phase-change for more information

What about power consumption? Do pay the power bill? How expensive is power in your country?

>>259 >Do '''you''' pay the power bill?

>>253 Effectively the same thing. If I can cool my system passively I can keep my bill low and net a higher profit. >>255 Yum. I'll have to look into this. >>259 Utilities aren't too bad. I've done the math by watts and I'll be coming out ahead quite a bit.

I want to, but all GPU's are sold out in my country.

>>271 I suggest you really really be careful with phase change cooling, dielectric grease and putty highly recommended to combat molding and condensation on vital electronics. Also, I would highly suggest you buffer and avoid a lot of suffering by adding antifreeze or some kind of liquid with high thermal conductivity to avoid refrigiration coolant spilling everywhere if things go south. Also, some kind of electrical controller unit to keep everything in uniform temp. but if youre lazy you could just buy an ac unit and dump the cold side in pool of antifreeze and then run it over to every gpu with hose or piping or whatever. please keep us updated

How long did it take for you to get any ROI?

>>275 What do you mean by this? Just the GPU's that you would need? or all gpus

>>237 I'm curious how much have you made vs spent?

I'm on the same boat OP. Ordered 12 gtx 1070's and the rest of my rig. It should all arrive by tomorrow or thursday. What OS will you be using and what will you be mining? I'm focusing on mining ETH until it becomes POS then I will probably move to Zcash. I'm interested in Golem but it seems like the beta Brass will be CPU based.

>>316 Holy soykaf how much profit will you make with that rig?

>>317 its 2 rigs (doing 6 on each then will add more since they can have up to 9 with the motherboard i got) i should get about 700-900 profit a month at current price iirc

Has anyone tried to use the heat from the equipment to heat a house? Especially if you have water cold system, then you could heat radiator, water, and so on. Since you would need the heat anyway you get a double return. They would be totally separate systems and you use heat exchangers to move the heat around. Don't really see downside.

hey lainons, moving into a college dorm soon and gonna have free electricity. What's the minimum investment I would need to make a decent amount of money on this kind of thing? I currently trade cryptos for fun, and it's getting to the point where I'm gonna end up having a few grand (GBP) soon, would 2k be enough for a mining rig? How about 3k? Anyone got any great guides where I can work out how much I can expect to gross before utilities with varying setups?

>>321 $2k-3k is enough. here's a guide i used but did some tweaks like getting a motherboard that allows me to have 7-9 gpus (with an adapter) www.coinminingrigs.com/how-to-build-a-6-gpu-mining-rig/ im >>318 i forgot to mention the $700-$900 profit would be for each of the rigs with 6 just gpus this is also a good guide1stminingrig.com/best-mining-rig-hardware-mine-2017/#USB_RISERS but the amd cards are all sold out everywhere and dont have resale value just in case crypto market goes south. Seems like we're definitely in a bubble right now and on august 1st bitcoin decides to activate segwit or uasf or bitcoin ulimited or w\e so i'm selling a few coins before then just in case so i atleast cover my initial investment

>>321 oh yeah to check out how much you will gross you need to calculate how much megahash a second you will have and calculate your electricity costs. you can use this http://www.mycryptobuddy.com/EthereumMiningCalculator or just look up crypto currency profit calculators

>>322 I'm the dorm lainon you replied to, thanks for the tips. I currently have around $900 USD tied up in crypto, I'm tempted to just liquidate everything before august the 1st and use the money to buy some GPUs. I already have a gaming PC currently running an r9390 and a modular 750W power supply. I figure, if I buy three graphics cards, be they 1060s, 1070s, 1080s or 580s depending on what I can get my hands on, it seems like a much safer strategy than trading on the market like I've been doing? With free electricity and 50MH (the amount I would get from two out of the box 580s), I'd be making $340/month on Ethereum based on the current values? That's insane, and having free electricity like I do is a rare opportunity. Another advantage of mining compared to regular trading is if the entire market completely flatlines, you're left with value in the form of the graphics cards you've purchased, which can always be sold off, or, if you're only running 2-3 like I intend to at the start, will leave you with some great components for a top of the line gaming PC. Seems like an almost win win situation?

>>324 make sure the ports required are available in your dorm. Try running the mining program on your gaming pc and see if any trouble arises. Don't wanna invest and then find out you can't mine there

>>325 What ports do you mean exactly? Ethernet and power? I know for a fact they'll be available, or are you referring to something else?

>>326 ports like router ports. https://en.wikipedia.org/wiki/Port_forwarding your uni probably blocks most of them and this can cause issues for the mining software iirc. It can make it difficult to report info to the mining pools etc so test out mining at ur uni before dropping money on a rig that might not work there

>>327 thanks for the tip, I'll keep with my current card and make sure I can mine before buying anymore hardware.

>>329 keep us updated

>>318 May want to think of switching to Hush running full NVDA. Current daily returns are 2x that of zcash; 4 of my 1070 rigs clock in at 10.8KHs, draw 2.88KW and yield 110+ USD. Just to put it out there, any of you mining Ethereum thinking it'll stay at this price, need to snap out of it. Ether was never planned as currency, has zero scarcity, is inflationary, isn't immutable, is overvalued due to everyone s/wanting/hoping to board the 2nd coming of bitcoin/flood of ICO crowdsales adding to price growth due to all running on Ethereum network being funded with ETH, cost of gas is already increasing and it cannot scale for soykaf - just take a look at the Banker ICO this week where it rendered dozens of users unable to complete transactions during the whole sale as their network was overloaded and is just the start of what is to come, as there are more ICOs in the pipes. Touching upon UASF and Jihan fuarrrking our mothers, may I suggest you either do your own research and come to your own conclusions instead of following the doomsayers and the optimists. IMO, majority of alts price follow bitcoin, so diversifying pre Aug fallout could actually cause more grief than good. A minority however do exist out the set, such as ICN (https://www.tradingview.com/x/vZ6BEQcs/) and TKN which have shown for the most part upswings during past corrections, but shouldn't be your only cards to play by.

>>334 whats Hush?

>>338 Fork of zcash without the founders reward with a trusted dev team who I believe have a good chance of surpassing current forks zclassic and zencash long term. https://steemit.com/hush/@radix42/initial-hush-roadmap

>>342 hm, interesting. I'll look at it. Are you dual mining by any chance? Also I've read about undervolting as well as overclocking and putting fan speeds at 100%. I don't understand how one can undervolt (use less electricity) and overclock (use the cards at faster speeds)

>>344 Yeah, up 200%+ for this week and hodling like a monk. Worker count on supr have have tripled within less than 48 hours, so diff is now at an ATH. Due to past week substantial growth plus the announcements of integrating smart contracts with XCP (big deal as it's the first in the equihash/zksnarks family to implement such feature) and chatter of lead dev reaching out to bittrex for getting listed on once stable Windows wallet is released, will mean that much more of a promising future for this alt. >Are you dual mining by any chance? Also I've read about undervolting as well as overclocking and putting fan speeds at 100%. I don't understand how one can undervolt (use less electricity) and overclock (use the cards at faster speeds) Nope. For efficiency sake after each completed round, a background process idles checking hour profit estimates for selected coins and switches accordingly. Cap watt limit for less elec, underclock graphics and OC mem with fans set to 90% for greater sol count. On Windows there's gui utilities readily available from nvidia. For Linux, nvidia-settings/smi cli tools are best option for optimizing cards.

>>345 supr? ATH?

>>352 suprnova, all time high

hey lains, really rudimentary question here, but could I use an AMD card to min ETH based currencies, and an nvidia to mine BTC based, both on the same computer, at the same time? Thank you.

>>375 prob wont be worth it to mine btc. what amd card do you have?

>>375 Since all bitcoin users use ASICs it's probably best to use the nvidia card for ETH anyway. nvidia for ETH is perfectly fine. It's just that you'd be better off buying an AMD card if you'd buy a new one.

>>375 Like 378 said, ASICs for bitcoin but pointless unless you're in Chengdu running a farm OP. AMD => most cost effective for ethhash

>>378 that is if you can find them anywhere. I went with nvidia cards since I could find a good amount of them and they can be used for monero\zcash well

>>237 putting it in a fridge isnt that good of an idea https://www.youtube.com/watch?v=B8bhGw4vUFE

There's no way that's actually profitable.

Can any Lains help me with a quick question? \ I want to buy 2 x Radeon HD 5870 to experiment in mining crypto. Will this be able to mine Ethereum or will I have to try another less difficult crypto? I basically want to get to grips with the basics if I was to buy a big rig later.

>>703 if you steal electricity from somewhere, then yes, yes it is

>>706 Like setting up an induction coil near high tension power lines? That'd be cyber as fuarrrk. The alternative would be solar panels and a Tesla house battery, but that would probably not make the cost of the set up back before you had to replace it from wear. Or a waterwheel on a river, that'd be steady at least. Or dam a creek, like you'd do with a still. If you set up on a micronation like Sealand you could build an ocean thermal generator. They got one running in 1898, don't tell me we couldn't do better now.

>>707 > tell me we couldn't do better now Yes because the Lain setting up a private crypto mining rig in the basement already owns her own private ocean cove to build such a thing.

Lains, help me understand mining profitability. I've spent days calculating, for the third time this year, and came out with the same results. It doesn't worth it. At all. So what I do is I take a couple of cryptocurrencies and chech their history, mostly how the difficulty changed. One thing is for sure: as cryptobusiness gets bigger, the difficulty will always increase. Take Bitcoin for example, if you look at the past 2 years, the difficulty increases 13% every month relative to the previous month. With this, you can calculate how much bitcoins you will make every month pretty accurately. You take hardware cost (initial investment) and price of electricity into account for one year. Now you add up the bitcoins you will make in one year, then you can calculate how much bitcoin's price should be in one year to reach 10% profit, and you find out it's at least 20% increase MEANING you would have made 20% profit by simply investing, instead of mining. One year later electricity will cost more than you can mine UNLESS bitcoin's price increases enough BUT THEN AGAIN investing is a better option. GPU mining CAN be more profitable than investing if you are able to sell the hardware on a proper price later, but you still heavily rely on the price of the cryptocurreny. I've heard about two huge miners in my country who stopped mining because it didn't worth it. I feel like most of the GPU miners are amateurs who found a simple mining profitability calculator and saw that their investments would return in 3 months then it's clean profit, but 95% of these calculators don't take difficulty into account, which is extremely important. Ethereum difficulty skyrocketed, in october it was 535% of june's difficulty. That means in october you made 1/5 of what you made in june.

>>732 As far as i understand it's better going niche coin early as a private small investment cause that means certain a income because your chances to mine a block are high. Competing with big players on bitcoin will likely give you 0 return as your relative computation power in the network almost guarantees that you won't be the one to mine a block. Furthermore you have to check the respective algorithm used for a coin because in bitcoins example asic's are much more efficient than gpu miners which gives you another disadvantage. There are some coins where the algorithm causes asics to not be faster which is what probably puts some of the big players off. I've personally scanned the whole market early 2016 and likewise thought not worth it considering local eletricity prices. What's absolutely worth however was trading. Requires however to check your tax laws.

>>733 I considered all of those things. First of all, nobody mines alone nowadays, that's where pools come in. Multiple miners are working together, and when anybody from the pool mines a block, the reward gets distributed according to the proven computation power (your miner sends in hashes which reaches a much lower difficulty than the real one, thus proving that it works on the problem). This is why when you know your hardware's hashrate, you can calculate from the difficulty how much coins you will get in a period, and because of the law of large numbers, it will be pretty accurate. As for the algorithms, ASIC's are so much more efficient at bitcoin's algorithm that you definitely don't stand a chance with anything else, and there are other algorithms like Ethereum's, which is heavily memory dependent and to be able to build a a competing ASIC you would have to compete with GPU manufacturers, which is insane, that's where GPU's are used.