Looking at starting up a mining rig

[langy123]

Hi Guys,

I am new to the site and I am looking at starting a mining rig, however I will likely be a noob at first!

My first question is how can I calculate how much the GPU's will use, e.g. two Nvidia Geforce 1070's. Or if there is a better GPU, please point me in the right direction!

Before i start looking at buying the other components, I would like to know an estimate of how much power I will be using to then calculate how much potential profit I could make.

Any help is much appreciated.

[Crypto Rock]

Google it. lot of good sites out there to help you out, like this one: www.coinminingrigs.com/

Good luck.

[langy123]

Google it. lot of good sites out there to help you out, like this one: www.coinminingrigs.com/

Good luck.

Thanks for the post, that guide seems like a good way to start.

How many GPU's do you use, would you say it would be profitable with 3 Nvidia 1070's with a 4GHZ CPU?

Electricity costs would be next to nothing as I am renting.

Thanks!

[leonix007]

Google it. lot of good sites out there to help you out, like this one: www.coinminingrigs.com/

Good luck.

Thanks for the post, that guide seems like a good way to start.

How many GPU's do you use, would you say it would be profitable with 3 Nvidia 1070's with a 4GHZ CPU?

Electricity costs would be next to nothing as I am renting.

Thanks!

Profitability of mining is not always constant or fixed, this is changing drastically either dipping below or going high, crypto profitability online calculators is a good reference to see if your GPU's would be profitable or not at least for the day.

http://whattomine.com/coins

If you are renting and have a low electric cost it is your advantage, just ensure your lessor approved it

How many GPU's do you use, would you say it would be profitable with 3 Nvidia 1070's with a 4GHZ CPU?

This is actually depends on your budget plans, locations as you will need to prepare your electrical, ventilation, etc.  especially if you would create a farm

[xxcsu]

How many GPU's do you use, would you say it would be profitable with 3 Nvidia 1070's with a 4GHZ CPU?

Electricity costs would be next to nothing as I am renting.

Thanks!

cpu really doesnt matter in your case ...
free eletricity doesnt exist , someone paying for it. If your landlord giong to notice the power bill is 2x , 3x or 4x what he paid before , you going to pay for the power you using In this case make sure you know how much you have to pay for each kw/h you are using , including all the taxes and fees !!!
About the profitability i would suggest THIS topic you need to read

keep this in your mind :

None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later , a year later!
Those calculators telling you about today , at that moment when you typing in your information !

[langy123]

How many GPU's do you use, would you say it would be profitable with 3 Nvidia 1070's with a 4GHZ CPU?

Electricity costs would be next to nothing as I am renting.

Thanks!

cpu really doesnt matter in your case ...
free eletricity doesnt exist , someone paying for it. If your landlord giong to notice the power bill is 2x , 3x or 4x what he paid before , you going to pay for the power you using In this case make sure you know how much you have to pay for each kw/h you are using , including all the taxes and fees !!!
About the profitability i would suggest THIS topic you need to read

keep this in your mind :

None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later , a year later!
Those calculators telling you about today , at that moment when you typing in your information !

Hi xxcsu

Thanks for pointing me in the right direction

I think I would be up for "taking the leap of faith" into the lottery of mining cryptocurrency, initially I would be willing to put forward £1,000-£1,250 into GPU, CPU motherboard etc.

On your recent mining (if you have) would you say this is a positive move, or more money, more investment etc?

A noob like me can use all the help he can get, haha!

[flip4flop]

Wrote a series of intro to mining articles that might help you as well as initial build guides depending on your budget.  These may be able to help point you in the right direction for some of your questions.

https://theminerhub.com/mining/newbie-guide-building-6-card-crypto-currency-mining-rig-part-1-decision-time/

https://theminerhub.com/mining/mining-pool-basics/

https://theminerhub.com/mining/building-a-mining-rig-part-2-hardware/

https://theminerhub.com/mining/newbie-guide-part-3-amd-edition/

[gotminer]

How many GPU's do you use, would you say it would be profitable with 3 Nvidia 1070's with a 4GHZ CPU?

Electricity costs would be next to nothing as I am renting.

Thanks!

cpu really doesnt matter in your case ...
free eletricity doesnt exist , someone paying for it. If your landlord giong to notice the power bill is 2x , 3x or 4x what he paid before , you going to pay for the power you using In this case make sure you know how much you have to pay for each kw/h you are using , including all the taxes and fees !!!
About the profitability i would suggest THIS topic you need to read

keep this in your mind :

None of those calculators you are seeing on the web can tell you what's coming tomorrow , months later or 6 months later , a year later!
Those calculators telling you about today , at that moment when you typing in your information !

Hi xxcsu

Thanks for pointing me in the right direction

I think I would be up for "taking the leap of faith" into the lottery of mining cryptocurrency, initially I would be willing to put forward £1,000-£1,250 into GPU, CPU motherboard etc.

On your recent mining (if you have) would you say this is a positive move, or more money, more investment etc?

A noob like me can use all the help he can get, haha!

Start small and expand based on your findings.

[langy123]

Wrote a series of intro to mining articles that might help you as well as initial build guides depending on your budget.  These may be able to help point you in the right direction for some of your questions.

https://theminerhub.com/mining/newbie-guide-building-6-card-crypto-currency-mining-rig-part-1-decision-time/

https://theminerhub.com/mining/mining-pool-basics/

https://theminerhub.com/mining/building-a-mining-rig-part-2-hardware/

https://theminerhub.com/mining/newbie-guide-part-3-amd-edition/

Those were a good read and I am definitely going in the right direction now.

My initial set up will be:

- 2 x Nvidia 1070 GPU's https://www.scan.co.uk/products/gigabyte-nvidia-geforce-gtx-1070-windforce2-oc-v2-8gb-gddr5-graphics-card
- Intel Pentium Dual-Core G4400 3.3 GHz Processor CPU, I did read that the CPU isn't as important, so is this overkill? https://www.scan.co.uk/products/intel-pentium-g4400-s-1151-skylake-dual-core-33ghz-3mb-cache-1000mhz-gpu-33x-ratio-54w-cpu-retail
- 100W Gold certified PSU https://www.scan.co.uk/products/1000w-corsair-rm1000-x-series-80-plus-gold-full-modular-sli-crossfire-single-rail-833a-plus12v-1x135
- PCI risers https://www.amazon.co.uk/gp/product/B073F1QHZ5/ref=ox_sc_act_title_4?smid=ATVCPMRF6NI2O&psc=1


And I have also found various rig frames on Amazon, as well as a power button and a version of Windows 10.

My only issue is finding a Motherboard that will be suited to run what I have found, some I have seen on Amazon have in-built PCI slots, whereas some don't. I am not the best with sourcing Motherboards, but once I have one that fits into the picture, I will be more than on my way.

Please let me know if I have missed anything too!