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  • Dec 7th, 2017 3:29 pm
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[OP]
Newbie
Dec 31, 2016
32 posts
4 upvotes
Mississauga, ON, CA

Crypto Mining Rig

Hi All,

I wanted to explore the idea of setting up a mining rig for ETH.
Any experienced lads here to kindly share their experience?

Thanks
15 replies
Member
Jan 10, 2017
404 posts
149 upvotes
GTA


Mining for ETH and BTC directly is impossible without tens of thousands of dollars investment.

I currently idle mine (when not gaming) with my 1060 and get $70 CAD a month in BTC for mining other cryptocurrencies that people pay me for.
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May 22, 2005
18609 posts
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Thornhill
For the low end of the profitability scale, Nicehash is a good place to start. Their calculator is from the past results, not future, and the trend has always been decreasing profits. So its a risky idea to commit so late to the party, though the FOMO is real.

https://www.nicehash.com/profitability-calculator

In a nutshell, in August, a GTX1080ti would earn 0.0015 BTC (equiv to $5 USD then) a day, currently, it earns 0.0005 BTC (equiv to $5 USD now). The 0.0015 BTC from August is now equivalent to $20 USD a day. So the skyrocketing value of BTC has resulted in earning much less BTC, even though its now worth more.


Still, if you have a gaming PC not being used, it could be worth the few extra lattes a month after electricity/hydro fees.
[OP]
Newbie
Dec 31, 2016
32 posts
4 upvotes
Mississauga, ON, CA
MadCanadian wrote:
Nov 28th, 2017 12:50 pm


Mining for ETH and BTC directly is impossible without tens of thousands of dollars investment.

I currently idle mine (when not gaming) with my 1060 and get $70 CAD a month in BTC for mining other cryptocurrencies that people pay me for.
Seems he got ripped off in this video:
Member
Jan 10, 2017
404 posts
149 upvotes
GTA
accessarpit wrote:
Nov 28th, 2017 1:35 pm
Seems he got ripped off in this video:
I just like the video for its introductory explanation, but Linus is no miner optimization guru.
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Member
Mar 8, 2012
337 posts
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Montreal
What kind of information do you want?
[OP]
Newbie
Dec 31, 2016
32 posts
4 upvotes
Mississauga, ON, CA
akinos1 wrote:
Nov 29th, 2017 12:41 am
What kind of information do you want?
I would like to get help understanding what the industry PROs use for a rig among other things like where to mine, what to mine, and how to mine.
I'm preparing for Feb'18 start and need to evaluate the expenses involved and ways to improve ROI.

Thanks in advance.
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May 22, 2005
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Thornhill
February is a long ways away, things can change quickly.

ROI has always been increasing, for example a gtx1080ti had a ROI of 4 months in July. Currently it is 7 months. In February it might be 12 months.
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Sep 13, 2016
1076 posts
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accessarpit wrote:
Nov 29th, 2017 8:15 am
I would like to get help understanding what the industry PROs use for a rig among other things like where to mine, what to mine, and how to mine.
I'm preparing for Feb'18 start and need to evaluate the expenses involved and ways to improve ROI.

Thanks in advance.
If you are looking for a ballpark figure, then approx 2000$ desktop would yield you 7-8USD a day in today's terms. In Feb 2018, it could be 20USD or 2 USD a day, no one knows.
Member
Mar 8, 2012
337 posts
41 upvotes
Montreal
accessarpit wrote:
Nov 29th, 2017 8:15 am
I would like to get help understanding what the industry PROs use for a rig among other things like where to mine, what to mine, and how to mine.
I'm preparing for Feb'18 start and need to evaluate the expenses involved and ways to improve ROI.

Thanks in advance.
As stated previously, you can't really tell what's going to happen by then.

As it is for me, I am mining and holding expecting the coin to raise in value. So I am not really worried about that daily money im making. ( As it is for now with ETH price, I am making approx 7$ daily).

With my mindset. if ETH price doubles well those 7$ daily would now be worth 14$ daily

Also, you should do research depending on what coins you want to mine, some AMD and NVDIA perform differently depending on the coin.
[OP]
Newbie
Dec 31, 2016
32 posts
4 upvotes
Mississauga, ON, CA
akinos1 wrote:
Dec 1st, 2017 12:46 pm
As stated previously, you can't really tell what's going to happen by then.

As it is for me, I am mining and holding expecting the coin to raise in value. So I am not really worried about that daily money im making. ( As it is for now with ETH price, I am making approx 7$ daily).

With my mindset. if ETH price doubles well those 7$ daily would now be worth 14$ daily

Also, you should do research depending on what coins you want to mine, some AMD and NVDIA perform differently depending on the coin.
Thanks for the info.

If you could share your setup for ETH mining, it'll help me understand my requirement.
I'm reading a bit about cryptos these days, and I'm getting interested in the following: Litecoin, Dash & Monero
Going to pick, out of the 4, as per the convenience of setup.

TIA
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Jul 23, 2002
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accessarpit wrote:
Dec 3rd, 2017 3:16 pm
Thanks for the info.

If you could share your setup for ETH mining, it'll help me understand my requirement.
I'm reading a bit about cryptos these days, and I'm getting interested in the following: Litecoin, Dash & Monero
Going to pick, out of the 4, as per the convenience of setup.
Litecoin and Dash are mined by ASICs, while AMD Vegas are by far the best option for Monero.
Member
Mar 8, 2012
337 posts
41 upvotes
Montreal
accessarpit wrote:
Dec 3rd, 2017 3:16 pm
Thanks for the info.

If you could share your setup for ETH mining, it'll help me understand my requirement.
I'm reading a bit about cryptos these days, and I'm getting interested in the following: Litecoin, Dash & Monero
Going to pick, out of the 4, as per the convenience of setup.

TIA
My setup is pretty basic,

https://ca.pcpartpicker.com/user/akinos/saved/dhjTWZ

For the GPU, I am using XFX and MSI

I will be adding 2 more MSI RX 580 8GB and a 750W Power supply this week
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Mar 31, 2017
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Where would I get a mining bios for my AMD Powercolor RX 470 Red Dragon 4 gig with the Hynix ram?
Last edited by badOne on Dec 7th, 2017 3:16 pm, edited 1 time in total.

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