ROI question on mining rigs

[darkshad]

OP after a quick(and pretty rough) calculation I think for about $4000-6000 you can make yourself 3-4 rigs which will net you about $400-$500 in total every month. Now if you could work something out to pay less for power you'd be swimming in money. These new electricity meters are often checked wirelessly and can also have their settings changed this way, without need of opening it up and breaking the seal or whatever. Just a thought

Where are you coming up with those numbers?  This guy, blockoperations, is a pretty big miner operator and on his website he has some costs on building a rig - 6 GPU for 2,250.  He includes a break down of the components and prices.  So, for 6k that would only put you at 2.6 rigs.  Maybe it can be done cheaper than blockoperations, but at the same time quality components don't break down as fast.


https://blockoperations.com/6-gpu-mining-rig-amd-rx580-intel-lga-1151-ethereum-zcash

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[natminer]

Thanks the https://blockoperations.com/6-gpu-mining-rig-amd-rx580-intel-lga-1151-ethereum-zcash system looks interesting.

How does one calculate in advance the approx hash rate I'd get on that setup?

Also maybe this is a dumb question but I assume this is good for mining any GPU based coin right? (Not just etherium and zcash)

[darkshad]

re: hash rates.

Checkout this link for some from various cards.  Would be a good estimate.
http://1stminingrig.com/are-the-rx570-and-rx580-profitable-mining-performance-review/

[JaredKaragen]

OP after a quick(and pretty rough) calculation I think for about $4000-6000 you can make yourself 3-4 rigs which will net you about $400-$500 in total every month. Now if you could work something out to pay less for power you'd be swimming in money. These new electricity meters are often checked wirelessly and can also have their settings changed this way, without need of opening it up and breaking the seal or whatever. Just a thought

See my link on page one for the 1k address.

He spent about 3k I think.  Actually less than 3k...  the two month full speed running total still hasn't hit for the hashrate the machines have.  It's still increasing.  Compare payout history for past weeks to see how well it did.

[QuintLeo]

A 3-card RX 480 / RX 580 rig RIGHT NOW will gross over $300/month on ETH, somewhat less on ZEC - then subtract the electric cost (probably $1/day or a little less unless your electric is NOT low cost).

 Cost to build such a rig with reasonable care at parts buying is $1200 or less, you MIGHT get it down a bit under $1100 or so with very careful selection of the lowest-price parts.


 This was NOT the case as little as 2 months ago - profitability on ALL major coins has more than doubled over the last couple months as many of the major coins have had HUGE price runups (and the difficulty has NOT been able to keep pace).
 For perspective, my mix of ASIC and GPU gear hasn't changed much in the last 3 months (I added *one* GTX 1080 card), but my income has jumped by a factor of *ALMOST 3* over the last 2 months.
 (I can't wait 'till I get into the new place I have lined up with over double the power available - I'm power-limited at this point BADLY).


 The nice thing about having quite a few profitable coins is that if one coin has a big jump, it will soak some of the hashrate out of the other coins in the "basket of profitable coins" and drive THEIR profitability up some as well, 'till the profitability is back in the same ballpark for the "basket" coins, so you don't really HAVE to go chasing "the most profitable coin" every day or every hour to benefit from the price jump of one specific coin.

 There is also the Nicehash option - they're usually pretty competative on profitability with whatever the "hot coin of the day" is.


 One other major issue to keep in mind.

 ETH is going Proof of Stake at some point, *probably* this year sometime - at which point there are over 29 THOUSAND TERRAHASH (this amounts to about 1 MILLION GPUs) worth of GPUs plus whatever gets added between now and then that are going to be looking for new homes, which is going to HAMMER profitability on every other coin that CAN be mined by GPUs (mostly the higher-profit by AMD mineable ones, as most ETH is probably being mined by AMD cards) - at which profitability for GPU mining is probably going to drop back down to the ballpark it was in 2 months ago even if the current coin PRICING stays high.

[kopija]

It really all depends on the price of the alt coins staying strong

This is just 2 x 1080ti's, and is constantly fluctuating with coin prices and profiability etc.

Which program are you using for multi-algo switching?
Is that the one in the screenshot?

[darkshad]

ETH is going Proof of Stake at some point, *probably* this year sometime - at which point there are over 29 THOUSAND TERRAHASH (this amounts to about 1 MILLION GPUs) worth of GPUs plus whatever gets added between now and then that are going to be looking for new homes, which is going to HAMMER profitability on every other coin that CAN be mined by GPUs (mostly the higher-profit by AMD mineable ones, as most ETH is probably being mined by AMD cards) - at which profitability for GPU mining is probably going to drop back down to the ballpark it was in 2 months ago even if the current coin PRICING stays high.

So if this is the case, what would you recommend as far as ASIC vs. GPU vs. buy/hold vs. trading?

ASICs - special purpose so old equipment can't be re-purposed - almost no resale value.
GPU - cards and MB can be resold without taking too much of a hit.
buy/hold - simple, but one is hoping the currency goes up.
trading - 90% of traders lose money.  Exchanges have a history of being hacked. 

[Vann]

ETH is going Proof of Stake at some point, *probably* this year sometime - at which point there are over 29 THOUSAND TERRAHASH (this amounts to about 1 MILLION GPUs) worth of GPUs plus whatever gets added between now and then that are going to be looking for new homes, which is going to HAMMER profitability on every other coin that CAN be mined by GPUs (mostly the higher-profit by AMD mineable ones, as most ETH is probably being mined by AMD cards) - at which profitability for GPU mining is probably going to drop back down to the ballpark it was in 2 months ago even if the current coin PRICING stays high.

So if this is the case, what would you recommend as far as ASIC vs. GPU vs. buy/hold vs. trading?

ASICs - special purpose so old equipment can't be re-purposed - almost no resale value.
GPU - cards and MB can be resold without taking too much of a hit.
buy/hold - simple, but one is hoping the currency goes up.
trading - 90% of traders lose money.  Exchanges have a history of being hacked.  

With a 100% ROI of 2-3 months on average, ATM GPU mining is a no lose proposition as long as you don't mind dealing with the noise and heat. Trading is a good option for those with limited funds or space to setup a mining operation. The risk of trading/holding is large price fluctuations and the coins you buy could go down and you may be stuck holding the bag. With mining you always have the hardware that can be resold.

Bad exchanges are also a risk, but it can be minimized by sticking with reputable exhanges that have been around a while and only keeping what you can afford to lose in your account at one time. Overall I have made more profit by trading and holding than mining by far. The hard part is knowing what to buy.

[darkshad]

With a 100% ROI of 2-3 months on average, ATM GPU mining is a no lose proposition as long as you don't mind dealing with the noise and heat. Trading is a good option for those with limited funds or space to setup a mining operation. The risk of trading/holding is large price fluctuations and the coins you buy could go down and you may be stuck holding the bag. With mining you always have the hardware that can be resold.

Bad exchanges are also a risk, but it can be minimized by sticking with reputable exhanges that have been around a while and only keeping what you can afford to lose in your account at one time. Overall I have made more profit by trading and holding than mining by far. The hard part is knowing what to buy.

What exchanges do you recommend?  These are the top top 5 (in no particular order) that I came up with...Since I'm in the U.S., prefer U.S. based exchanges.

Poloniex
kraken
bitfinex
GDAX
Bittrex

[Vann]

With a 100% ROI of 2-3 months on average, ATM GPU mining is a no lose proposition as long as you don't mind dealing with the noise and heat. Trading is a good option for those with limited funds or space to setup a mining operation. The risk of trading/holding is large price fluctuations and the coins you buy could go down and you may be stuck holding the bag. With mining you always have the hardware that can be resold.

Bad exchanges are also a risk, but it can be minimized by sticking with reputable exhanges that have been around a while and only keeping what you can afford to lose in your account at one time. Overall I have made more profit by trading and holding than mining by far. The hard part is knowing what to buy.

What exchanges do you recommend?  These are the top top 5 (in no particular order) that I came up with...Since I'm in the U.S., prefer U.S. based exchanges.

Poloniex
kraken
bitfinex
GDAX
Bittrex

Any of those would be a good choice. There is aslo Cryptopia that is good for new coins and it's been around a while.

https://www.cryptopia.co.nz

There have been many exchanges that have come and gone since I began in Crypto in 2014. The few I lost coins on were from not paying attention to the warning signs that were there.

https://bravenewcoin.com/news/36-bitcoin-exchanges-that-are-no-longer-with-us/

[B!tcoinL0ver]

for faster ROI, i recomended buy some vga at second condition, so we get it cheaper than buy new vga, i  have 14vga buy at 2nd

[philipma1957]

my friends ~3K investment in gpu rigs nets him currently a little over 1K/mo.

He did wait for people selling cards at a deal.

Typical GPU rigs ROI in 3-6mo.  in today's market, as low as 2 months.  but that can always change drastically.

yeah  no one knows how long it will last.

but I am netting 80 dollars a day using 2kwatts of power.

mining with:

 9 x 1080 ti nvidia cards. 
 3 x 1070 nvidia cards.

my mother boards,psus,cases etc were paid off last year.

and the cards above will be paid off in a little bit.

a 3 card nvidia can be built for

mobo = 80
cpu   = 90
ssd/os = 50
psu    =  110
ram =     30
riser = 10

370

3 1080 ti as low as 1930

2300 all new open air rig.

it will net 30 a day

will it do it for 77 days  I don't know

[natminer]

Sounds like starting out with 3x 1080 ti nvidia cards is better than starting out with with a different brands/model GPU x 6,  and I have the capability to add 3 more cards in the future as I pay off the current set up.


I assume things like the Operating system (Windows 10 versus Linux), and what memory, SSD brand, etc don't matter too much... 

But for the MOTHERBOARD and PDU,  can anyone make any recommendations? I need a motherboard that can eventually support 6 x GPU, and a PDU that will be able to handle 6 as well.


Also, how noisy is an open-air system versus closed air?  Is it as loud as for example, when you turn in a 2U server or loud commercial router? What options if you want something as quiet as possible?


What is the advantage of an open air that so many people go this route?  Does it cool better?


Thanks

[QuintLeo]

Keep in mind the reason every AMD video card is sold out right now is because EVERYONE is building rigs.

 The total hashrate in ETH equates out to appx. 1 million AMD GPUs - which isn't even in the BALLPARK of their total sales on the RX 470 and RX 480.

 If you add in ALL of the hashrate on everything else, it MIGHT double that figure.

 Then factor in a LOT of older AMD gpus are mining ZEC, some are still mining ETH, a few mining other stuff, then subtract out the NVidia brigades....



 AMD cards are not in short supply due to mining (though it is a small factor, there was NO shortage on the RX 4xx series for many moons up to last month when they were discontinued), they are in short supply 'cause the RX5xx lines haven't gotten up to full speed yet *AND* AMD is selling MAINSTREAM cards that perform comparably to many of the high-end cards of the last generation for well under half the cost while eating half the power *AND* Nvidia has been very slow to move DOWN to the mainstream segment on their current generation cards.

 I also suspect AMD has been a bit slow DELIBERATELY on getting volume production and shipping going on the RX 5xx series so the remaining RX 4xx cards could get cleared out, since they don't have a lot of competition YET in that segment.


 I highly recommend AGAINST Poloniex - I had nothing but ISSUES far too much of the time I dealt with them over the last month and a half or so. They seem to be suffering some SERIOUS "can't handle their growth" pains.

 I don't like how Bittrex has their website set up in some ways (their pop-up "order confirmed" RIGHT on top of the main menu is VERY irritating, as is their insistance on using Crapcha) but they do get the job done and don't lag to hell and gone for hours a day like Poloniex does most days - and they don't hang on to your withdrawals for DAYS at a time.

 Never used Kraken, GDAX, or Bitfinex - but I am probably going to be checking one of more of those out in a month or so (I have a move tentatively set up next month into a MUCH better place).

 For getting your fiat into / out of BTC/ETH/LTC I find Coinbase works reliably, though their ATH transfer times are a bit slow that seems to be true for everyone that uses ATH.

 Poloniex and Bittrex have NO option to deal in fiat at all.



 See my last post for *MY* estimate of when the current very nice profitability will come to a screeching halt.


 IMO LINUX is the way to go for mining, though it would be nice if it had better tools like Afterburner for tweeking cards with.


 Open air rigs are usually a hair noisier, but you don't need MASSIVE fan volume on them like a "in a box" rig does to stay cool so sometimes they're quieter - and they're almost ALWAYS cooler.

 They are also a little less expensive (no case cost), and they use a little less power (no case fans needed, or you can get by with a MUCH LOWER POWER fan at most).

[darkshad]

has anyone done any comparison between mining rigs vs. buying hashing from somewhere like nicehash?  If there isn't too much of a price difference, might remove some of the risk of owning mining equipment and/or the ability to purchase various hashing algorithms.

[JaredKaragen]

has anyone done any comparison between mining rigs vs. buying hashing from somewhere like nicehash?  If there isn't too much of a price difference, might remove some of the risk of owning mining equipment and/or the ability to purchase various hashing algorithms.

I am a firm believer of renting is more expensive than owning.

Less to invest, but waaaay more to risk in investment to rent.

[Vaccinus]

has anyone done any comparison between mining rigs vs. buying hashing from somewhere like nicehash?  If there isn't too much of a price difference, might remove some of the risk of owning mining equipment and/or the ability to purchase various hashing algorithms.

buying hash from nicehash make sense only if you know or you expect that the coin you are mining is going to increase a lot, otherwise you are wasting time and not making any profit, it's very similar to trading you buy because you will sell higher, but if you mine with your hashpower you don't need to wait you dump and take your profit

[eth4lyfe]

I invested a little under $10k in hardware, this includes electrical upgrades and also cooling units

https://i.imgur.com/MRqCW8B.png

[darkshad]

I invested a little under $10k in hardware, this includes electrical upgrades and also cooling units

https://i.imgur.com/MRqCW8B.png

How many kW are you running and what are you paying per kWh?  Have you seen your electric bill yet?

[eth4lyfe]

I invested a little under $10k in hardware, this includes electrical upgrades and also cooling units

https://i.imgur.com/MRqCW8B.png

How many kW are you running and what are you paying per kWh?  Have you seen your electric bill yet?

$0.075/kWh, used a little under 5000kWh last month