Bitcoin Forum

Hey Mining Community,

Wanted to know your thoughts on Building a rig considering Free electricity.

Instead of keeping money in Banks, I want to put it in Mining so that I'd be getting some money monthly instead of money being in bank and paying me like 7% yearly interest.

A balanced approach of Nvidia and AMD would be best?

Say I have the budget ~$20k I can build a rigs something like this in my country 12 AMD RX 570 Cards + 12 AMD RX 580 Cards + 12 RTX 2060 Cards + 12 RTX 2070.

Your insights are appreciated.

Thanks!

buy w.es cheap man
if you have "free" power why would you buy the worst cost/profit ration cards?  (20 series), those are for when u have "free money" to burn haha
imo find old used 10 series, even 9 series, as you can get them CHEAP CHEAP
the biggest factors are: card cost and power cost to a gpu farm

Agreed with low cost GPUs but the 9x series might be already out of warranty and the 10xx series might be left with 1 or max 2 years warranty.

Appreciate the response. Thanks!

May be I can go with RX 570 max number of GPUs followed by the new 1660/1660 Ti ones?

bitmain s9..

PS: yes I know.. he asked for gpu rig :)

If the power is free then you are going to make money, no questions asked really. As for what cards to get, i wouldnt mix it up too much. Its better to have the same type of cards, makes managing way easier.
Generally speaking AMD seems to be preferred as it tends to perform better on more algos (while Nvidia is better at specific ones). I would look at the price and would ask around for OTC deals for miners who are exiting teh market

Do yourself a favor and go with nVidia, the clocking is very simple and everything is rock stable, no matter which driver version. nVidia can farm nearly every coin with max potential and has the highest returns, AMD is just great in a few ones like CryptoNight's with poor profit (the guy above is wrong). Setting up AMD is a pain, the drivers and clocking are shit either. To get a bigger picture with all the pain and poor profits, check the TeamRed thread and the Wildrig one.

And yes, try to not mix cards, thats true. Makes the clocking/controlling much simpler. Also check the AwesomeMiner thread, its a great software to control everything.

Buy 1080 ti, check HiveOS, buy decent cpu on each rig, you will tank me later because you will rock 5he Market next 3 or 5 years. There won't be better advice Trust me 😉

Great recommendation. Also 2070 and 2080 if you can get them in a deal.

Try to buy always 3-fan-cards if you haven't the best cooling solution. If you cant cool your card enough, you can drop the original fan-block of your cards and just zip 3 of these fans onto them (which also increase your resale value because of never used fans!):
https://geizhals.de/?cmp=1187156&cmp=1204784&cmp=1165585

Finally the new 1660 Ti is also a great deal! But go with 2 or 3 fans here, not the 1-fan ones (always remember the resale value!).

Thanks!

By having a mix of GPUs I meant, I will build one rig of one type and not one rig having mix of cards; Example

1 Rig of 570
1 Rig of 580
1 Rig of 2060 like this.

The 1660 and 1660 Ti looks good as well. But at the cost of 1 1660 Ti I can get 2 RX 570s that's what is confusing me.

Backwards on AMD/NV.  Nvidia cards are significantly more versatile.  AMDs are mainly just cheaper.

I'd probably spend half the money on used, cheap AMD RX 4/570s & bitmain S9s first, and the rest on newer tech (gtx 16xx, Vega VII, etc) when they arent selling at such a premium.

Also: 7% fixed rate on a liquid account?  My life would be so much simpler if those actually existed.

Ya I just got a good deal on 1.5 years old 4x MSI 580s 8 GB.

Will be looking out for more such deals.

And yes Indian banks(most of them); pay 7-8% interest, so basically in 14 years approx, you'll double your money.

Here you wont even get 1%, you can be lucky if you dont have to pay anything. But the more money you own, the more penalty interest you have to pay to the bank  ::) Long live the EU...

B2t: If you havent decided yet which board, go with the Asus B250 Mining Expert. Its very cheap and you can run more than 8 cards.

For me, it is still a good choice to buy is gtx 1080ti if you can still buy it at a cheaper rate but if not you can go buy with rtx 2060 don\t buy rtx 2070 which is expensive and the hashrate only has little improvement compared to rtx 2060 unless if you can buy 2070 with little price increase from RTX2060.

Use some calculator which card is profitable these from here https://whattomine.com/ and also check the price of each card if you can still buy lower cards like GTX 1080ti much better.

It looks nice. When i counted - it was a card with a best ROI from the new cards. But i`d preffer used 1070-1080ti. If you are high-skilled at hardware - it will be easy to work with them. 
570 and 580 are the same.
If look only at new cards
1 rig - 1660ti, 1rig -2060, 1 rig - vega. It will be nice for start and various for different algos.

I've been doing pretty much the same, mostly grabbing 470s when I find a Sapphire or XFX for 60 to 75 used.  Planning to build a couple NVidia rigs after that...and will probably go with new 1660ti instead of used 1070.  That will basically tap out all the power I want to use, then I'll start focusing on upgrading tech on the existing rigs.

7-8% doubles in 10.2-9 years.  5% doubles in 14.  I need an Indian bank.  If I want 8%, it's equities.  Fixed & liquid is 1 to maybe 2.

I got that yeah. Well the real question will be what is your plan with the rigs. If you want a stable income, then one type of card is better (for example all 570s). But if you are interested in doing spec mining and going for some nice plays, then the nvidia/amd mix could work better. I personally have one rig with 1080s and one with 570s for spec mining as i never know what new coin comes out and what cards will perform better on it.

When it comes to Free electricity the Mining would really be 100% profitable no matter what coin you do mine yet there would be no expenses would be deducted
but considering on the amounts that you would earn into those Rigs on daily basis wont really able to reach out ROI for a short duration of time.

Just be sure that those free electricity of yours would last because Free doesnt really exist because someone has to pay for it.Lucky for you that you are just using it for free.

If you have free electricity, then the truth is where you can play. But if there is a choice to get profit in a liquid token or double profit in shitcoin I would choose liquidity.

With free electricity, and if you don't mind the heat or noise - go red team (AMD) and mine the jebus out of ethereum imo.

Rx series like 570 and 580 cards would be fine. Don't expect to get much resale though if you buy brand new and change your mind down the track.

If you consider the hardware you have to buy in order to set up the mining operation, is that even true?  I have not mined any coin in my life, but I've been doing some research about it and from all that I've seen the income you get from mining solo with cards and the like is minimal.  Even with free electricity, you would have to recoup the cost of the mining equipment.  Is that actually possible by doing what op is proposing?

That is actually an excellent point, but I would assume that a higher profit coin would also have enough liquidity in the market such that you could sell it easily.  You certainly wouldn't want to mine a coin that isn't listed on exchanges and that no one is interested in.
 
Best of luck to op if he tries this.

Being able to mine new POW coins before they get listed is one of the major advantages of GPU mining.  Just takes time to find & vet new projects.

Yes the MB with 19 slots, I have seen people running at least 13 GPUS without issues.

May be I want a little of both, Some stable income and also do spec mining.

My new rig will be the 580/570 mix for now. And later on may be 2 months down the line 1 rig with the 16xx series

Agreed, I'm not much worried about the quick ROI.

Just want to put the idle money to work, and mining seems a bit less risky as I would be getting some income daily/weekly/monthly with out paying HUGE electricity bills.

As I'm not really worried about the ROI that statement actually stands true.

I'm wanting to put the money to work that's it.

Even with free electricity you will make more money  form buying coins instead of buying minres.  Don't fall for those marketing campaigns, buying gear is like the people that made money from the gold rush.  Remember the minres didnt make the money it was the suppliers of equipment.

With free power, you will make money with GPU mining, that is not a question. You will make less money as new hardware comes out but since you do not have a "sink" that cuts into your profitability you will make money (unless you somehow manage to burn the rig). If you know what to do and have some luck (that a good coin is launched after you buy teh rigs), you will ROI pretty fast.

I'm wondering if you just solo mine some coins like eth for a month, are you ended in a profit? I hear some guys a long time ago, solo mined bitcoin and got his block after 20++ days.. it's worth it though?

You can build any mining rigs and it will be profitable for as long as you have free electricity. Even the oldest GTX750ti will work and will bring a positive profit in mining if the electricity is free

Would be earning more in pool mining than solo.

RX 570s seems better than most

Anything if you have free electricity, this is a hard question as we can't be sure how the market will go after some months of mining, as of now the industry  for this venue is no longer profitable considering the expenses that you'll need to consider, plus the maintenance of your mining rigs, only those who's aiming for long term engagement and can handle the expenses out from their pockets can determined what will be the outcome results after some months of mining.

Like can you PM your bank's name. Looking to put 20k into a bank account to get a 7% annual return.

Depends what you want to mine.

But the 1660TI is still the top option. And it's reasonable priced. 

The capital with you is good but it depend on the coins you want to mining, most of these mining rigs are selective and if you have access to cheap or used mining rig would be a good fit for you, most people closed their rig last year during the bear market and believe some are on sale at good prices now

Huh? But you should be worried about ROI. You do realize that until you reach ROI you are NOT actually making any money. You are not putting any money to work yet because all you did was spend your money. I'd suggest putting more thought into this. There are a lot of risks involved and you could end up losing money instead of "earning passive income."

Anyway, i'd suggest using 1080ti's or 1060s. NVIDIA is much easier to maintain and profit margins now are slightly better than AMD's.

Yes, in this case it is possible to use any equipment, even used. Thanks to free power, you can find and buy the most suitable equipment after some time. This is a good competitive opportunity to mine liquid coins like ethereum. While this is possible.
If free energy can end soon, then it is better to buy hardware with a maximum warranty period.

I personally go for less rigs with better GPUs.
Less Mainboards, CPUs, Ram etc to buy.
Less problems....

I would build with the 2060 - it's the future and 20xx cards will see improvements with driver updates over time.

https://i.imgur.com/wcKdDez.png

Yeah, I think so, better find a reliable way to make a profit rather than gambling it on a solo mine coins..

But the upside is higher if you mine a new "spec mining" coins isn't? weather it solo or pool

Are you already aware on possibility on losing investment instead of earning? If you are finding for things that do put up your money to work then mining crypto
wont really be the only option but since you are pursuing it then its your choice. $20k is a good amount to start but put up on your mind that theres no guarantee
that you will not lose money here even if you do have free electricity.When it comes to cards i do prefer on 20XX but well there are 10XX cards which is more efficient
and do still have the same hashes with expensive ones.

I think solo mining is very risky. It is much safer to use the services of pools. This increases the profitability of mining.

If you have a free electricity profit is in your side  ;) Just choose the coin that you want to mine and and build the rig for that coin  :)

its better to find a not very big mining pool or create it with an equal in volume partner - this will be much more efficient than a solo

Agree with you. Solo mining is really too risky, I will always recommand mining pools.  :)
And of course, you need to choose a coin which is not so popular but has potencial in the future.

Yeah, that's an awesome idea so why not. Anyways fortunately for you your covered in terms of electricity so i guess you don't have much to worry about, but with the advancements in mining power and related aspects, many are vying in for mining pools so as to get out of any headache associated with running a rig/farm/minifarm Additionally, you'll also be contributing to the wide usage of cryptos.

Commonly right, if you have a free electricity then you don't have to be bothered, only the maintenance of the equipment and he coins that you'll
going to mine will be the only thing that you needed to pick, and for me researching for a good coins and try  your luck getting some from the pool
will help you earn decent profits.

I would definitely go for nvidea, maybe 1080 ti, but would have to check the price vs profitabilty (since power is free)
In my oppinion AMD is not so flexible and usually harder to tune and more "sensible"
Mixing cards is the first step for problems, even with different cards placed on different rigs, it will not be easy to manage...
You need to keep things as simple as possible and have a few spare risers as these brake often...
good luck!

OP hasn't posted since the 22nd so I think we can all stop re-hashing this stupid fucking question.  I love how these guys always have a $20k budget.  I'd also like to know where OP is getting a 7% interest rate at, I will start putting my money there.

Instead of a single rig you can hedge your bets and build 2 different rigs and mine 2 different coins. A new speculative coin like veil, and an established one like monero

this is your big opportunity to get free electricity, and maybe to build a rig you need to consider some coin factors that you will mine. you can combine AMD and NVDIA for good mining, using old graphics and the latest