Geekycryptogal's First Mining Rig Build

[geekcryptogal]

Just making this thread to share my progress and to consolidate all my questions, so there aren't too many threads by me.   This is my very first rig -- I didn't even know about the existence of mining until a month ago!  I hope I didn't join too late and that this $4000 rig will pay for itself at least within the first half year -- hoping 4 months.

Parts for six GPU rig:
MSI Z270 SLI PLus Motherboard
Celeron G3900
4GB Corsair DDR4 2400
Corsair HX1200i Power Supply. (I hope it comes with enough modular cables..)
3 x ASUS ROG STRIX 1070 TI
1 x MSI DUKE 1070 TI
(Getting 2 more 1070 TI's when they become available).
EXPLOMOS 6 pack PCIE USB Riser
120GB Sandisk SSD
Western Digital My Passport + Thumb Drive for image backups (Using Macrium Reflect 7 Free)
Wooden frame.  Thinking of using 3/4" MDF for base, Wood and then aluminum angle for the cross section where the video cards are secured -- bought a tap for the holes which will be here in a couple days.

I've successfully installed Windows 10 Pro on it and had it activated by calling Microsoft.

Then I proceeded to install Macrium Reflect 7 Free and made a Media Recovry thumb drive.

Booted up Windows PE with the thumb drive and Used Macrium Reflect 7 Free to backup the fresh win 10 install image.

That's what I've done so far.  Waiting for the power supply -- will be here tomorrow.  I have two of the GPU here and getting the other two tomorrow.

[Plant Power]

Looks like a decent setup, what are you going to mine and / or software are you going to use for mining?

[geekcryptogal]

Looks like a decent setup, what are you going to mine and / or software are you going to use for mining?

I have no clue yet.  Maybe GBX, VIVO, Hugh or Nicehash?  They pay the best according to Whattomine.com.

Was going to ask you guys what you suggest I start with.  Like what pool?  What software and what coin?

I'd like something that pays out in ether or bitcoin.  I don't know how often I should request the payout maybe every 3 days or so?   Also I have to figure out how to calculate the income taxes for mining.. is the taxable income tax event when I get the payout or all throughout the day of what I am mining at various levels of fair market value (seems complicated).

Lots to learn! . Also I guess I need to get that MSI panel to control video cards?  Each algorithm needs certain GPU settings to be optimal?  e.g. clock etc.

[geekcryptogal]

Got the rig powered up with 3 x 1070 TI.  I plugged in the 3 usb risers (powered by 4 pin molex not sata connector), and well the monitor wouldn't work with motherboard video.  I presume I need to plug it in to one of the video cards for the time being to adjust the bios for which is the primary display?

Do I need to plug the cards directly into the board first when setting up the drivers?

I got two driver CD's.. one frm MSI and one from ASUS.  Both for 1070 ti.  Should I just go to nvidia web site and download the latest 1070 ti driver and ignore the drivers on the CD's?

[Vann]

The motherboard should automatically switch to the GPU video output once a card is plugged in the primary x16 PCI-E slot. With new GPU's, it's usually best to use the latest drivers from Nvidia. Before installing the latest driver, you should use DDU in safe mode to uninstall the driver Windows automatically installs. The first time you run DDU it will automatically disable the Windows automatic driver install, then select clean and shutdown to remove the drivers. After shutdown connect all the x1 GPU risers to the motherboard and install the latest driver. I also enable the group policy to disable driver updates since I don't want Windows Update to change the drivers I install.

gpedit ==> Computer Configuration ==> Administrative Templates ==> Windows Components ==> Windows Update and set 'Do not include drivers with Windows Update' to enabled.

[Plant Power]

Got the rig powered up with 3 x 1070 TI.  I plugged in the 3 usb risers (powered by 4 pin molex not sata connector), and well the monitor wouldn't work with motherboard video.  I presume I need to plug it in to one of the video cards for the time being to adjust the bios for which is the primary display?

Do I need to plug the cards directly into the board first when setting up the drivers?

I got two driver CD's.. one frm MSI and one from ASUS.  Both for 1070 ti.  Should I just go to nvidia web site and download the latest 1070 ti driver and ignore the drivers on the CD's?

http://oi68.tinypic.com/67mbz7.jpg

Looking good.. Yep like the above said the bios automatically switched to one of the cards as the primary output.  You can unplug and set the bios to keep the mainboard as the primary output, or just try and hook each of the cards up to a screen and see if it gives you an output.  When you get it booted install something like VNC so you can login from your computer and maintain the rig that way.

Nicehash is a gentle introduction and will let you test your hardware and know it's working.. but fees / profit rate aren't great.. if you want more profit you'll have to go for something like Nemo's, Awesome or similar and a pool

[geekcryptogal]

Thanks guys.  I setup the primary video to integrated graphics (IGD) instead of PEG and it works.

I got the Nvidia drivers instealled then I did another system snapshot with Macrium Recovery Drive. (I never connect the external backup storage device to a live system, for fear of malware getting on it.)

Then I decided to give Nicehash a try since it's so easy to set up.  It finished all the benchmarks and is now mining.  I have 0.000000000 BTC in the "wallet".   (Is it really a wallet on their server?  is there transaction fees everytime you are given bitcoin for the work?). I still need to setup a Bitcoin wallet in offline system with Electrum.  Eventually want to get Ledger Nano S, but that's a couple months away.  How often should I transfer the Bitcoin funds out of Nicehash, once a week?  Or are the bitcoin fees too high for that?  (About $22 a day with 4 video cards with nicehash).

I'll probably be trying Awesome Miner and Nemo's soon thank you.

EDIT: Does nicehash overclock my 1070 Ti's?  I hope not!  They are brand new and I heard you don't need to do that to those cards?  Do they overclock? Is that even possible via software or do yo udo that in the BIOS?

I need to change from Nicehash to somethign more profitable.  Would like to pay off this $3500 (5 card) rig asap.  (getting antoher card in tomorrow then in a week or so.. turns out power supply will only support 5 GPU.. unless I can daisy chain two 8 pin ASUS ROG STRIX 1070 TI  on one cable..)

[geekcryptogal]

I wonder if a cable exists to split the 8PIN CPU with PCIe.  The CPU is only 65w and each connector on the PS can handle 300w I read.  The 1070 ti is 180w.  So 180w + 65w = 245w, which is lots less than 300w.  That would work well I think.. No?

[kmkfan628]

as far as taxes go, my understanding is with recent changes the govt now considers ever single cryptocurrency transaction as a taxable event. so when you trade your bitcoin to usd, or even when you trade your say monero to bitcoin before you change to usd.... so im guessing you pay tax on the income generated and on any additional gains through trading. idk it has gotten kinda convoluted lately.

[geekcryptogal]

as far as taxes go, my understanding is with recent changes the govt now considers ever single cryptocurrency transaction as a taxable event. so when you trade your bitcoin to usd, or even when you trade your say monero to bitcoin before you change to usd.... so im guessing you pay tax on the income generated and on any additional gains through trading. idk it has gotten kinda convoluted lately.

I figure for US taxes, it's a taxable event each time Nicehash pays out every day or so to the Nethash bitcoin wallet: pay income taxes & self employment taxes on that.  Thanks to Section 179 I read you can fully deprecate the entire $4k rig the first year, so basically tax free until the rig is paid off.   Then start paying taxes on that income.. probably buy another rig then though . Then when I transfer the bitcoin from nicehash wallet to say trezor, that's a taxable event: capital gains/loss.  Hoping an application will pull all this together and generate the forms but I am going to keep a manual ledger for each transaction, then compare it to the software end of year.

[ottomans_enigma]

i like your purple rig case, ? is it wooden?


i m planning to  built a wooden rig case, that 3x3 cm wood, is it enough ? what do you think

[geekcryptogal]

i like your purple rig case, ? is it wooden?


i m planning to  built a wooden rig case, that 3x3 cm wood, is it enough ? what do you think

Thanks for the complement.  It needs another coat of paint.

The wood is 1"x1" and I mixed 2 different blues with some red paint for the color.  Was aiming for the color of the first Silicon Graphics Indigo.

I think it's enough, I'll be adding some support braces to it here and there.  I made sure the grain runs vertically on both pieces where the video cards rest.

[geekcryptogal]

Should I pay the 5% Nicehash fee to have them payout to an offline/hardware wallet?   They only charge 2% if you use their wallet.  But I am afraid to use their wallet because of the hack & theft last month.

I still don't know what bitcoin wallet I should use.  Thinking about booting debian live off thumb drive and installing electrum on that.

[geekcryptogal]

Just now picked up another MSI 1070 ti (red one with two fans) from Newegg for $519.  So 5 cards total.  Was rushed to place the order and forgot to select $6.99 for 3 day shippin glol... Oh well.. just happy I got one.