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Author Topic: (Review/Guide) WhatsMiner M3 11.5 Th/s, 2000W Bitcoin (SHA-256) ASIC miner  (Read 20069 times)
Biffa
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January 16, 2018, 11:10:18 AM
 #241

My thoughts are you should have done more research into this beforehand.

Bitcoin mining is not something you can do at home. Its something you do in a datacenter where the miners can be kept cool and have lower electricity costs.

You also have to keep up with the difficulty increases by buying more miners as you go forwards. And you have to understand its all a risk and that drops in BTC price can wipe out your profit.

I still don't see what your problem is, $15 a day still takes only 80 days to break even on your investment. What other investment opportunity gives you that?

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HagssFIN
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January 16, 2018, 11:40:35 AM
 #242

My thoughts are you should have done more research into this beforehand.

Bitcoin mining is not something you can do at home. Its something you do in a datacenter where the miners can be kept cool and have lower electricity costs.

You also have to keep up with the difficulty increases by buying more miners as you go forwards. And you have to understand its all a risk and that drops in BTC price can wipe out your profit.

I still don't see what your problem is, $15 a day still takes only 80 days to break even on your investment. What other investment opportunity gives you that?


I agree with you.

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January 16, 2018, 01:43:14 PM
 #243

My thoughts are you should have done more research into this beforehand.

Bitcoin mining is not something you can do at home. Its something you do in a datacenter where the miners can be kept cool and have lower electricity costs.

You also have to keep up with the difficulty increases by buying more miners as you go forwards. And you have to understand its all a risk and that drops in BTC price can wipe out your profit.

I still don't see what your problem is, $15 a day still takes only 80 days to break even on your investment. What other investment opportunity gives you that?


Ta for the thoughts but despite the way it sounds, I did my research and I was perfectly happy to take the chance, why not, it's great to learn things.  I do not agree however with your comments regarding Bitcoin mining being only a datacenter thing.  There are plenty Antminer S9 owners who have 1 or 2 of these devices and they seem to manage.  Quite often though people tend to focus on the gross payout per day and forget about the costs involved.  Electricity for specifically the M3 is higher than other miners, also it gets pretty hot under regular operation which requires cooling.  I live in Africa, it's very hot here on a normal day and it is not so simple to calculate what kind of cooling requirement one would need in my type of environment, so as with any investment, you make an educated guess based on the facts that you have and you take the chance.  It either works out or it doesn't, I could keep running the M3 yes, but the payoff is not what I would call worth it, despite that it will pay itself off eventually.  For some the Antminer S9 seems to be profitable, either their parents pay for electricity and cooling and they can run their rigs without concern or they have subsidised electricity or the climate in which they operate is naturally cooler.  Either way, I have watched several hours of YouTube vids of S9 owners happy with their investment.

My argument has not quite been considered in its entirety.  @ $15/day, with $6/day on electricity, that leaves $9/day before I calculate cooling costs.  Cooling costs will erode that value further, as I said it is very hot here in Africa so cooling is a huge factor.  On the GPU rig mining equihash, the electricity usage is much lower, and the rig does not require serious cooling, I have a 100w fan blowing in the rig rooom and that is good enough, however the 100w fan is not enough to keep the M3 from overheating.  So, I do not walk away with $15 per day, it's more like $6/day after costs have been taken into account, not to mention the fact that the machine is very noisy.  And before you mention it, I was aware it would be noisy but one doesn't know how your environment will react to something until you have the kit and you run it.  In terms of the GPU's, I initially bought 8 x GTX 1070's, the risers I had (8 of them) were mostly faulty so I ended up only being able to use 5 while I wait for new risers.  In terms of overall rig size and value spent, it's a pricier rig for sure, but the return is greater pound for pound and is cheaper to run.  I can't recall the exact values as I don't have the invoices to hand but I definitely did pay more for the GPU rig components.  I average between 2300 and 2500 sol/s on the 5 GPU's, they can go higher as they collectively inch over 3000 sol/s sometimes at night for some reason, but I'm not convinced these risers are all that as the GPU hashrate is eratic during the day.  I OC each GPU a bit to where it is stable but these risers are definitely bad grade.  I'll add the other 3 GPU's when the new risers arrive, that'll push the hashrate to between 3500 and 4000 sol/s (depending on my OC settings and rig stability).  On current values for equihash, that's anywhere between $500 and $700 per month depending on equihash value and my hashrate (never sure how accurate these calculators are) but between 2:32am yesterday morning and 12:28 today these 5 GPU's earned $29, with less than $6 of that is electricity.  So while in time the M3 will pay itself off, it's not the kind of return I am looking for, and I don't think I'm being unreasonable.  It does represent SOME kind of return, I agree, but we are all into crypto mining for our own reasons and we all have our own expectations.  

Anyway, my point is that the GPU game pays off quicker than the Bitcoin mining game and I totally understand why and all the technical considerations such as difficulty, I sell enterprise blockchain as a service so it's my job to know what this technology is all about and how the various algo's work and their short comings, so allow my comments on the basis that I've done my calculations and research and the M3 numbers don't work for "me" as well as the GPU numbers work, despite the fact that the GPU rig is more expensive.  The GPU rigs will pay themselves off sooner, by comparison, and the post breakeven earnings will be in line with my expectations.  That's all.  Everyone if of course free to have their own opinion of things.

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January 16, 2018, 05:56:40 PM
 #244

Even $9 a day means you break even in just over 4-6 months maybe longer if difficulty goes mad or bitcoin price goes south.

But yes bitcoin mining with a M3 in Africa with your electricity costs means you are on a road to nowhere really.

I know you think you did your research but it doesn't sound like it. And certainly doesn't reflect what returns are  possible for those who approach the field with more care and due diligence.

That being said, as a technical experience and way to get to understand mining and its ins and outs you cabymt go wrong with what you have done, and if you break even (which you should if you don't start spending money on archon) and even make a small profit it will not have cost you your life savings.  Smiley

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January 25, 2018, 08:55:26 PM
 #245

Hi all,

I received brand new M3 miner.
It's been on for few hours, but I can't get anything past 9TH/s from it. It supposed to be 11.5 TH/s, right?
That's what I see right now:
https://screenshots.firefox.com/NTap216qScJkeNZG/192.168.1.181
Auto-frequency is complete and miner is just mining on maximum frequency, but reported hashrate is much lower what is supposed to be. Same on the pool side:
Code:
"hashrate1m": "7.75T",
 "hashrate5m": "8.34T",
 "hashrate1hr": "7.34T",
Here's whole cgminer API report: https://pastebin.com/raw/MQft9cuB
Boards should have 3700-3800 GH/s per board, but I am having only 2916, 2726, 2828 (GHS5min, just refreshed now).
Any thoughts?

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February 04, 2018, 01:45:30 PM
 #246

Update on my issue from previous post. I've been back and forth with Pangolinminer support, so far that got me nowhere.
I verified it must be power issue. When 2 hashboards powered, they are doing rock solid:
Code:
Elapsed 4 hours 11 minutes
GHSav: 7922.22

SM0 GHS15min: 3899.24
SM1 GHS15min: 0.00
SM2 GHS15min: 3981.65
But once I connect third board, whole miner slows down to:
Code:
Elapsed 6 hours 46 minutes
GHSav: 8594.57

SM0 GHS15min: 2862.94
SM1 GHS15min: 2917.81
SM2 GHS15min: 2921.11
I tried to use different power supplies, Bitmain APW3++ and Bitmain APW3, to let them power only 1 hashboard at a time, but each different power supply I tested is working slow with M3 miner. Only original PSU seems to be good enough to power a hashboard (or 2 hashboards) to full hashrate. But I can't get 3 boards powered with anything and have full 3x3900GH/s = 11.7TH/s from that miner.  Angry Anyone experienced something similar?
Is my PSU flawed? Why is miner not working with other PSU?
I requested warranty repair from Pangolinminer, waiting for them to respond.

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February 04, 2018, 03:49:58 PM
 #247

I've not seen similar issues before, so it is little difficult to give any advices.  Undecided
Using the WhatsPower P3 psu, have you connected all ten 6-pin power connectors
(one to controller and nine to hash boards), AND also the 3-pin connector from the psu to controller board ?


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February 04, 2018, 04:21:43 PM
 #248

I've not seen similar issues before, so it is little difficult to give any advices.  Undecided
Using the WhatsPower P3 psu, have you connected all ten 6-pin power connectors
(one to controller and nine to hash boards), AND also the 3-pin connector from the psu to controller board ?

Yes I did. Everything connected, 10x PCI-E and 3-pin connector to controller board. If I not connect 3-pin connector, what will happen then? Is there any difference in miner hashrate?

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February 04, 2018, 06:32:12 PM
 #249

It is for communication between control board and the psu.

I recommend keeping it plugged in.

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February 04, 2018, 07:00:12 PM
 #250

It is for communication between control board and the psu.

I recommend keeping it plugged in.

But if my PSU if faulty and can't handle 3 hashboards, I will have to use different PSU, and there will be no communication between them? I wish this is explained a bit more by Pangolinminer. What's the purpose on that communication?

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February 04, 2018, 07:06:46 PM
 #251

It is for communication between control board and the psu.

I recommend keeping it plugged in.

But if my PSU if faulty and can't handle 3 hashboards, I will have to use different PSU, and there will be no communication between them? I wish this is explained a bit more by Pangolinminer. What's the purpose on that communication?

The control board is controlling the power supply. I don't know more about it, since no documentation with exact details about that communication is available.

I doubt it's any help, but here is the Whatsminer M3 user guide: https://drive.google.com/file/d/1lWv1mYZoHdSurfNGx6DxBIYj34MawzCs/view


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February 04, 2018, 07:16:18 PM
 #252

It is for communication between control board and the psu.

I recommend keeping it plugged in.

But if my PSU if faulty and can't handle 3 hashboards, I will have to use different PSU, and there will be no communication between them? I wish this is explained a bit more by Pangolinminer. What's the purpose on that communication?

The control board is controlling the power supply. I don't know more about it, since no documentation with exact details about that communication is available.

I doubt it's any help, but here is the Whatsminer M3 user guide: https://drive.google.com/file/d/1lWv1mYZoHdSurfNGx6DxBIYj34MawzCs/view



Yeah, I've read that one few times already. It states:
Quote
2. Power control cable (three wire) must be connected well, or might cause the
error to control the power supply, leading to the low hashrate.
But there is no way to verify if mine is connected and working or not. What if it's faulty? No way to find out why I have low hashrate. And manufacturer is not selling PSU separately, so if your PSU dies, you can't have original one, you will have to use different PSU. And different PSUs are showing low hashrate, frequency is not even reaching 600 with them.

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February 06, 2018, 06:57:17 PM
 #253

They adapt, as I see...

M3 Stocked Batch VII (Shipout in 7days)
$1,750.00 $1,458.00


M3 April Batch II (Shipout 4.30)
$1,188.00 $1,022.00


https://pangolinminer.com/557-2/
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February 06, 2018, 07:54:21 PM
 #254

People aren't buying S9, now imagine whatsminer. They must to adapt.
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February 09, 2018, 07:58:23 AM
 #255

They adapt, as I see...

M3 Stocked Batch VII (Shipout in 7days)
$1,750.00 $1,458.00


M3 April Batch II (Shipout 4.30)
$1,188.00 $1,022.00


https://pangolinminer.com/557-2/

It changed. 1350$ for 3 March shipout
1022$ for 30 April shipout.
It's really far away from now. But excellent price for someone, who have free/cheap electricity.

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February 09, 2018, 02:12:48 PM
 #256

These “excellent prices” only reappeared after bitcoin tanked. And guess what they only accept bitcoin. No thanks, not giving them $2400 worth of btc just because it is is worth $1200 at this minute.

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February 12, 2018, 08:05:07 PM
 #257

These “excellent prices” only reappeared after bitcoin tanked. And guess what they only accept bitcoin. No thanks, not giving them $2400 worth of btc just because it is is worth $1200 at this minute.

They like changing things around alot. Last night you could still pay with a CC, with a "$60 bank fee"
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February 13, 2018, 09:04:54 PM
 #258

me and friends 2 x M3 s been shipped hahhaha excited

having ordered a month or so ago i feel i have paid over the odds Vrs todays prices but hey hoe .... it is what it is... longterm view and a hobby 

my first miner so i will be happy if they do what they say they do time will tell and i will update on this thread ... if/when i can get it running Smiley


thanks for posting the user guide Haggs its appreciated
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February 13, 2018, 09:10:23 PM
 #259

Thanks, no problem.  Smiley


I fixed a typo, there was a wrong caption text under 'Cgminer configuration page' image.
It now says 'Cgminer configuration page' as it should say.

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February 16, 2018, 01:50:38 PM
 #260

What is MSRP on this? Seeing them pop up on craigslist near me for $3500 and I am just laughing.
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