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Title: ** Looking to build my first mining rig ** Post by: Wedel on January 31, 2014, 09:49:53 PM Hi guys,
I am looking to invest some money into a mining rig, i am looking for something that would make me $150 ~ a day. Since i am a complete newb and not sure how to go about this, please help me decide. I am also very worried about electricity costs, i am in uk ;) Title: Re: ** Looking to build my first mining rig ** Post by: everest556 on February 01, 2014, 03:08:56 AM You must first and foremost understand what the difficulty increase is and what it does to your mining gains.
http://bitcoinwisdom.com/bitcoin/difficulty Title: Re: ** Looking to build my first mining rig ** Post by: leancuisine on February 01, 2014, 03:18:17 AM Hi guys, $150 a day from mining? :oI am looking to invest some money into a mining rig, i am looking for something that would make me $150 ~ a day. Since i am a complete newb and not sure how to go about this, please help me decide. I am also very worried about electricity costs, i am in uk ;) Expect a heavy upfront investment then. Title: Re: ** Looking to build my first mining rig ** Post by: leancuisine on February 01, 2014, 03:22:45 AM You would need 20,000 KH/s if you are planning on mining Litecoin and making $150 a day, and that is before power costs. Rough estimates:
R9 290 pulls 300 watts each, and gives 800 kh/s. $500 each. 25 R9 290s are needed then, which will cost $12,500. Not to mention the other parts needed. It will also require 7,500 watts for just the GPUs, not including processors and the motherboards. Not sure if a normal house can manage that much wattage safely, unless you plan on buying scrypt ASICs. Title: Re: ** Looking to build my first mining rig ** Post by: ineedit on February 01, 2014, 10:40:44 AM Hi guys, I am looking to invest some money into a mining rig, i am looking for something that would make me $150 ~ a day. Since i am a complete newb and not sure how to go about this, please help me decide. I am also very worried about electricity costs, i am in uk ;) Wedel, the advice above is good but also remember that virtual currency mining is an arms race. To keep mining at £100 a day profit you need to also factor in buying new equipment as part of the costs to keep up with the difficulty increases, that greatly increases the amount of money you need to begin with. Start simple and cheap to understand mining before you throw cash at it. Get a AMD 7950 graphics card or better and mine alternative currencies for a couple of weeks to understand just what it is about. If you don't like it you have something of value to sell, if you do like it then you can empty your savings account. Title: Re: ** Looking to build my first mining rig ** Post by: Sonny on February 01, 2014, 10:41:04 AM I am looking to invest some money into a mining rig, i am looking for something that would make me $150 ~ a day. Either you are planning for a big investment, or this is a mission impossible. Title: Re: ** Looking to build my first mining rig ** Post by: vpasic on February 01, 2014, 12:06:54 PM 700GH will earn you around $150/day if you calculate it on mtgox 1btc/$950!!
you will earn that amount for the next 3 days and after difficulty jump you will be on $110/day. also you'll need around 25.000kh/s gpu-s to mine $150/day and with difficulty rising it won't last long. so for that kind of earnings you wan't, you can forget about it! mission impossible! |