Which equipment to start mining

[fdjoko]

Hello all,

I'm french and i would like to start mining. I have invested my first euros on bitcoin and altcoins one month ago and now i would like to start the next step : mining.

I don't have a big knowledge in this field that's why i need some advise. I'm sure that the questions that you will ask  me will help me to chose the good computer equipment.

My budget is 2500 euros, and i would like to mine some altcoins such as ETH / Zcash/ Monero / Dash or anything else.

Can you tell me on which equipment i have to move towards ?

Thank you and sorry for my english 

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[Sev18]

Build a mining rig with 8 rx580 series. It's cost efficient for mining ETH.

[BadGuner]

Are you sure that your electricity price will allow you to compete with miners who pay 0.01-0.05$ kw/h or who have free electricity?

[leowonderful]

What’s your electrical cost? If it’s above $0.10/kWh then it’s generally not recommended that you mine. If you have electrical prices at or under that cost, keep in mind GPU mining profitability has fallen off a cliff and ROI on most cards is now at 10 months or so. ATM cheap 1060s, 470/570 and 580/570 cards are good choices. 1070 can also be used if you find one at a good price. Prices have fallen a bit on GPUs as well, but I’m not sure if this is true in the EU.

[Lipe490]

First try to find some used video cards to buy (which have not been used to mine) for a good price like RX 480, 470 or 580 because they have good hash power. Make sure that the cost of energy in your location
is worth it for mining because the coins you quoted above are increasing the difficulty to mine everyday. With 2500 euro you can afford at least 2 great video cards to start mining. Also remember to make a
research and do the math if your profits will be nice. I'll recommend you this website https://whattomine.com/

[Mulavad]

I would recommend you to go for nVidia 1070. You can mine many altcoins and power consumption is lower. It's cost little bit more, but I think that it would be a right choice.

[fdjoko]

Thanks for your replies

What’s your electrical cost? If it’s above $0.10/kWh then it’s generally not recommended that you mine. If you have electrical prices at or under that cost, keep in mind GPU mining profitability has fallen off a cliff and ROI on most cards is now at 10 months or so. ATM cheap 1060s, 470/570 and 580/570 cards are good choices. 1070 can also be used if you find one at a good price. Prices have fallen a bit on GPUs as well, but I’m not sure if this is true in the EU.

So to answer to your question for the 12 next months i will have free electricity since i live in Saudi arabia as an expatriate so my company provides me electricty. But i don't want to use too much for me 1,5kW is enough if i can have a good equipment with this it would be perfect. I would like to take advantage of this year to start mining.

According to the answers i should target :

8 rx580 series or 1070.

1) Is it possible to find something plug and play; ready to use ?
2) Is it dangerous to do mining in appartement i mean regarding to fire hazard ?

Thank you

[Kasmonian]

Build a mining rig with 8 rx580 series. It's cost efficient for mining ETH.

I heard the ETH will go POS next year.

[desmodiAN]

pos in ethereum will come in slices. they call it transition where pos n pow will be used together. a real date is hard to predict.

[kriskarthik]

1) Is it possible to find something plug and play; ready to use ?
2) Is it dangerous to do mining in appartement i mean regarding to fire hazard ?

Thank you

1. Yes. Out there in the market
2. Yes. Ensure you have a good power supply and cooling/ventilation.

[r3lentleSs]

I find the 1060 6GB's very good for Equihash mining, in terms of power usage. And they aren't very expensive atm.
You should try to find a set of 12, you'll get about 1.2 Kw/h. And 3600 Sols out of those 12.

[juanichiloco]

Thanks for your replies

What’s your electrical cost? If it’s above $0.10/kWh then it’s generally not recommended that you mine. If you have electrical prices at or under that cost, keep in mind GPU mining profitability has fallen off a cliff and ROI on most cards is now at 10 months or so. ATM cheap 1060s, 470/570 and 580/570 cards are good choices. 1070 can also be used if you find one at a good price. Prices have fallen a bit on GPUs as well, but I’m not sure if this is true in the EU.

So to answer to your question for the 12 next months i will have free electricity since i live in Saudi arabia as an expatriate so my company provides me electricty. But i don't want to use too much for me 1,5kW is enough if i can have a good equipment with this it would be perfect. I would like to take advantage of this year to start mining.

According to the answers i should target :

8 rx580 series or 1070.

1) Is it possible to find something plug and play; ready to use ?
2) Is it dangerous to do mining in appartement i mean regarding to fire hazard ?

Thank you

It would be most cost efficient to buy the parts individually and build the rig yourself but if you need a plug and play GPU rig you can checkout https://mineshop.eu/ , I have ordered off them before and they provide a good service, there prices aren't the worst but you will still be paying a good bit more than building yourself.

[Anceluss]

biostar 13gpu and rx 470 8gb number one

I agree

pentium 4 and 4 gb ram

[r3lentleSs]

biostar 13gpu and rx 470 8gb number one

I can buy a 6 GPU rx 470/570 mining rig for 1000EUR
2 months old
What do you think?

[Frankieyoo]

Graphic cards from Nvidia

[solarion]

Graphic cards from Nvidia

Yeah you can use those cards too but gtx 1080ti is the good one giving more hashes to enrich the mining process. Because of this you can make better profit. You have to go with the same family cards in all 6 cards. Go with the 6 cards complete rig before you start mining btc or alts.

[slovakia]

best easy pissy way will be invest all your Money € to BTC and waiting 

[OliverHall]

Hello,
I'm a newbie at mining and I would like to start with GPU mining. I have read your card proposals in this thread and it'S useful, thanks.
Now, it's been a long time since I built my last custom computer, so I need some guidance at choosing hardware that is compatible and good for GPU mining.
I want to build a box with used motherboard and CPU. Can you guys recommend a good motherboard and CPU for mining with GPU.
It needs to be cheap and good enough to support the GPU.

Thanks

[antonio88s]

You could buy 6 or more GPU card such as NVIDIA or AMD and PSU and CPU. After that you must download some software to run the miner for example is minergate.

[Undefined31415]

I don't personally believe now is a great time to build a new rig from scratch, especially if your power costs aren't independent of usage, or otherwise very competitive.

However, if you insist, most of the previous posts have given you good advice.

Motherboard with many PCIe slots, typically a mining-specific board, but others often work fine
Budget, low power CPU (typically Pentiums or Celerons)
RAM (2GB will do the job in most cases, 4GB is a safe bet)
Recycled old HDD, flash drive, SSD, whatever you've got that'll hold the OS +SWAP (or buy something new if you need)
PSU (be especially careful with both connectors and watt rating)
Graphics Cards (Nvidia 1060s, 1070s, 1080tis, and AMD 470/480/570/580 cards are popular choices, but are also typically overpriced. You might consider older cards if you can shell out more for PSU(s) and aren't concerned about power costs)
PCIe x1->x16 risers (almost always hit-or-miss with quality control)

You'll also want some kind of frame or enclosure (custom is usually cheapest), and perhaps a box fan, depending on how airflow is wherever you're planning to put a rig.