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Author Topic: How much is a mining rig worth?  (Read 856 times)
EmilyClark
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June 21, 2011, 09:21:17 PM
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A mining rig is worth the amount it can mine in whatever amount of time. The problem is that the more rigs there are on the network, the less any individual rig can mine, and the less it is worth.

Question: Is it really worth it buying all these rigs? Will they make what you spent on them?
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deltaspirit
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June 21, 2011, 09:27:00 PM
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dual 6950's on a 1366 platform


It's also my main so it's got a better cpu and more ram then your general mining rig. I'd value it at around $1000 or so.
EmilyClark
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June 21, 2011, 09:35:23 PM
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My question was: if you only use a computer for mining, and the profits from mining are decreasing all the time, how do you even know that you will be able to recover what you paid for it. It's a risky proposition. Which makes all the rig buying seem a little reckless, no?

Someone with a rig, tell me what the numbers are.
Shonuff
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June 21, 2011, 09:38:01 PM
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http://bitminer.info/
https://en.bitcoin.it/wiki/Mining_hardware_comparison
Bitslizer
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June 21, 2011, 09:49:09 PM
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My question was: if you only use a computer for mining, and the profits from mining are decreasing all the time, how do you even know that you will be able to recover what you paid for it. It's a risky proposition. Which makes all the rig buying seem a little reckless, no?

Someone with a rig, tell me what the numbers are.

at this point it seem most new comer already missed the boat on the easy money...

its a function of how fast you can mine for BTC and the market exchange rate.... missed the boat on the $30/BTC rate, and the difficulty have gone up a few times so its much slower to generate coins now.

Is it worth it to mine with what you already have? probably yes, is it worth it to go spend a boat load of cash and build a dedicated mining rig? personally I say no.

If you use a credit card to buy your mining rigs, basically you get a 2 month free loan (unless you have 0% apr) to recoup the cost before you have to outlay any cash.  Maybe worth it to upgrade an existing PC, if you can get the 5830 for $110 that would fit under this model @ $15/BTC current rate.
gbminer
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June 21, 2011, 10:50:24 PM
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Is it worth it to mine with what you already have? probably yes, is it worth it to go spend a boat load of cash and build a dedicated mining rig? personally I say no.

I agree, I've been crunching the numbers and have decided against buying a new dedicated mining rig and just modifying my existing gaming rig. It's cost me about $200 and will bump me up from 120M/hash to 700ish.

The fact that I have four months left on a housing lease where I have unlimited electricity helps make things a bit more profitable too  Wink
SlipperySlope
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June 23, 2011, 06:09:16 AM
 #7

One has to make an assumption about bitcoin exchange prices going forwards. 

On one hand BTC could be 100 USD in the fall and miners will easily pay back investments made today.

On the other hand its more likely that BTC could be about 20 USD and investments made today would not pay back, given sunk equipment cost, effort spent configuring, troubleshooting and monitoring the rigs, electricity cost of the rigs plus air conditioning cost.

At various points in the history of bitcoin mining its been more profitable to forgo mining and simply purchase the coins at market with equivalent funds for hoarding.
shellbunner
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June 23, 2011, 06:13:51 AM
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Yea, I'm thinking about just playing the market. Unless you have free electricity and gobs of hashing power, it seems buying/selling is the way to go.
magicrat80
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June 23, 2011, 06:21:31 AM
 #9

I recently bought a rig in Aus for just over $900

CPU: AMD Sempron 140
RAM: 2GB
MB: GB GA-870A-UD3 (2xPCI-E x16 and 2xPCI-E x1)
GPU: 4 x Sapphire HD5830
PS: CORSAIR TX-850

Have this running caseless and getting roughly 1100-1200 MH/s

Hard to predict wether it will pay itself off yet, but once MTGOX
comes back up, will be interesting to see the rate BTC get.
I'm happy to wait and see how the market moves for at least
a month or two and just save my BTC.
itsmine
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June 23, 2011, 07:38:35 AM
 #10

Of course veteran miners do not want added competition.  While most noobs like myself may have indeed missed the boat,if you have the financial resources I say go for it.  Worst case scenario you turn your rig into a captcha typer or web hosting

1CmUQsc87rByViq3KavUt8M77AdKn7ivtD
Learn from an experience marketer.  Donate and pm me and you'll learn a bunch.
harmal
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June 23, 2011, 08:48:06 AM
 #11

to everyone that says the new bitminers have missed the boat i remind you, even though you can shell out a ton of money on new rigs, you haven't invested or lost the full cost of you rig. if you lost 10% by taking the new equipment out of the box then you only need to make back 10% mining to break even, assuming that it doesn't take so long to mine 10% of you initial cost that you hardware have depreciated from newer hardware comping out.

my point is that you don't need to mine the cost of you rig to break even, you COULD mine the loss from the depreciation of making your new hardware "used" then sell the hardware on ebay and you would break even. there's still a lot of room for profit; even this late in the game.
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