I'm looking to spend $40,000 on mining rigs. Any suggestions?

[sundownz]

Good post. I would agree getting in right now if it's not "disposable" money is very risky.

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[poby]

To answer the question, it's vital to know your electric cost.  If more than 10 cents per kwh the answer is simple.  Don't throw away your money on hardware that will almost certainly never make enough to pay for itself.  It's impossible to accurately predict how long for a ROI for a new rig now.  All we have is past profits which we know are useless at predicting future returns.  Prices are falling and difficulty is rising leading to rapidly declining profitability. 

In a few months, certainly before the end of the year, the only rigs generating more revenue than they cost to run will be those running the most efficient cards on the cheapest electric.  This is not wild speculative guessing.  The recent high returns were demonstrably unsustainable.  They relied on rapidly rising prices.  The speculation driven bubble is bursting and cryptocurrency prices are falling.

Mining should be viewed as a hobby.  It's a great hobby and it doesn't matter if you make money or not.  But if you have $40k to invest, you would likely do much better buying and holding the coins themselves - especially as they return to more normal levels.

Taking into account rising difficulty and falling prices, ROI is probably measured in years rather than months, and even then only if you have cheap electric.

[grape_tectonics]

I'm looking to get into mining. I already have one rig and it is performing decently, but I feel I need more.

I heard ETH's mining difficulty is getting harder and some people are switching over to mining Zcash instead. I'm currently running 6x RX 480's dual mining ETH/SC.

I want to build another 2-3 mining rigs, and want to make sure whatever I build will not decrease in performance mid->longterm. Would it be wise to build an Nvidia rig and mine alternative coins (other than ETH-based currencies) instead of building more AMD rigs?

If I had a nickle...

Just buy ETH while it's low, you'll very likely profit next week more than you would with your $40k in the next 6 months...

I dont know how u will convert 40k fiat into eth or btc in a week lol hes too late to profit from this dip

bitstamp takes bank wires so...there's that, I dunno about other exchangers

Good luck getting verified in under a month in any exchanges right now

[Marvell1]

gemeni is fast

[Metroid]

Buying ETH right now will give at least 100% in a month or so. ETH will soon hit 0.2 btc.

[car1999]

It's crazy, $4000 is fine, I think.

[Onecoinrabbit]

 invest 10 $

in how to make profit with ico coins like

https://mobile.twitter.com/thesuperiorcoin?lang=de

save 39990 $

make billions...

simple isn't ?

not against mining... i like mining but, it is a stupid investment

[Wandika]

invest 10 $

in how to make profit with ico coins like

https://mobile.twitter.com/thesuperiorcoin?lang=de

save 39990 $

make billions...

simple isn't ?

not against mining... i like mining but, it is a stupid investment

ICO is more stupid Investment rather than mining and the coin you are not sure that it's legit. Mining is the most safe yet profitable compares to ICO that pure POS and very risky once the project you involved turn to scam.

[mininggg]

Im not looking to spend $40 000
but i need a recomendation

im building a rig and cannot decide

4x 1070        $ 2151   120 MH/s   $432 /month     1880sols   $369 /month
5x 1060 6GB  $ 1807   117 MH/s  $429 /month     1650sols   $317 /month
6X 1060 3GB  $ 1743   135 MH/s  $500 /month      1770sols  $340 /month

as much as i would like to buy cheapest version with highest profit,
i am also concerned about the selling price later
not many gamers will like 3gb version of 1060 even though 6gb is not a big difference on 1080p res.
and 1070 will probably also drop in price quite a bit..

but im thinking, 3gb will not become obsolete for mining before ETH hits POS so i should be good then, and even then i should be able to mine zec at higher hashrate with more 3gb 1060s ?

[Rustmas]

Im not looking to spend $40 000
but i need a recomendation

im building a rig and cannot decide

4x 1070        $ 2151   120 MH/s   $432 /month     1880sols   $369 /month
5x 1060 6GB  $ 1807   117 MH/s  $429 /month     1650sols   $317 /month
6X 1060 3GB  $ 1743   135 MH/s  $500 /month      1770sols  $340 /month

as much as i would like to buy cheapest version with highest profit,
i am also concerned about the selling price later
not many gamers will like 3gb version of 1060 even though 6gb is not a big difference on 1080p res.
and 1070 will probably also drop in price quite a bit..

but im thinking, 3gb will not become obsolete for mining before ETH hits POS so i should be good then, and even then i should be able to mine zec at higher hashrate with more 3gb 1060s ?

1070 is the best. It will retain its value more than 1060.

[lowen]

For me the ROI is really fast if u know how to cut down your hardware cost and  how to get your new Rx570 and 580 series  GPU @ official AMD cost price which is between $200-$220 which is pretty easy if u have a very good website like the one I always use for price alert update to get stores and website offering clearance sale and buy the GPU once in stock when u get the alert , anyway if u need the website alert to get your GPU, u can email ( leon.owen@protonmail.ch ) me for the link

[coinzoid]

If you are looking for used products, I have a mobo Z97 gaming 5, around 13 risers, ssd and celeron cpu. I have used 7 gpus and sold my gpus recently. The mobo is a legend in mining field.

[Blazarius120]

I was looking at spending about as much as you initially with a new mining operation, but it looks like its going to fall through as it's simply more profitable & less risk to simply invest into the coin at this point in time. Especially with increasing difficulty and coins moving away from PoW.

[Rustmas]

I'm looking to get into mining. I already have one rig and it is performing decently, but I feel I need more.

I heard ETH's mining difficulty is getting harder and some people are switching over to mining Zcash instead. I'm currently running 6x RX 480's dual mining ETH/SC.

I want to build another 2-3 mining rigs, and want to make sure whatever I build will not decrease in performance mid->longterm. Would it be wise to build an Nvidia rig and mine alternative coins (other than ETH-based currencies) instead of building more AMD rigs?

Did you spend the money at last?

[Oakey22]

When the OP posted this it was a poor time to get in to mining, profitability has dipped ever since.

[hanskan]

All comes down to electricity price - if you pay like 7c/kW or less then gtx 1070 is probably the best option.

[frostedace]

All comes down to electricity price - if you pay like 7c/kW or less then gtx 1070 is probably the best option.

Why not get a vega at the same price? Power draw is a little more but it gets way more hash in monero and dual mining.

[Metroid]

my suggestion is to stay away from mining, buy the coins and enjoy 10x the profit in few months.

[Marvell2]

All comes down to electricity price - if you pay like 7c/kW or less then gtx 1070 is probably the best option.

Why not get a vega at the same price? Power draw is a little more but it gets way more hash in monero and dual mining.

what is vega dual mining eth and dcr/ lbry ?

[3piecechickendinner]

I'm looking to get into mining. I already have one rig and it is performing decently, but I feel I need more.

I heard ETH's mining difficulty is getting harder and some people are switching over to mining Zcash instead. I'm currently running 6x RX 480's dual mining ETH/SC.

I want to build another 2-3 mining rigs, and want to make sure whatever I build will not decrease in performance mid->longterm. Would it be wise to build an Nvidia rig and mine alternative coins (other than ETH-based currencies) instead of building more AMD rigs?

Hi . In my opinion , if I had $40,000 , I would like trading them on buying/selling eth and anothers cryptocurrencies , I saw a documentary on a website and they told the Ethereum coin won't mine anymore , and I think the price for 1 eth will go less than 200 usd
But you have lots of coins for mining and if you really really want to invest in mining do it
By the way , nvidia will release a new video card specially for mining with 24mh/s , low price and low power usage , is named gp106-100 , you should wait for it , but the stupid thing is that this video card has just 1 year warranty and if you want to re-sell it will be hard , because I prefer to buy a normal video card and selling it to a gamer or another person , but if you buy this video card will be hard to re-sell them

Happy mining !

Actually the warranty is rumored to be only 90 days on these new cards, not sure where you heard 1 year.

As for ETH, it will switch to Proof of Stake, which is just another form of mining. Basically if you own a lot of eth, you can stake it in exchange of mining work. It's a very simplified view of things.

Myself if i had 40K to spend on mining equipement, i'd still do it now. There are other coins you can mine and make a profit out of, and having 40k of mining hardware will give you a nice edge over other miners.

That said, i'd go for 570/580s with 8gb of ram and mix it up with some nvidia gpus (those made for mining). I would also fo only 8 gpu rigs instead of 6 to lower the cost and wattage.

pray tell where do u propose the op finds 570 or 580s ??! they are not for sale anywhere, 1070 on the otherhand you can find in local stores or amazon

I can easily buy 5 580s a day through that website that alerts you when they are in stock, same goes for the 1070's...its not hard at all to buy them anymore since the summer.  Also you can go on that other auction site and see people selling them in batches of 10 or even 20...THis is the best idea to mix up the cards and get some 1070's into the mix...Question though...why would an 8gpu rig have a lower cost than a 6 gpu