PLEASE HELP WITH GETTING STARTED !!

[H2osakana]

A friend and I recently got talked into purchasing a few GPU miners for ethereum.. only to realize afterwards  that our setup at home wasn't enough to run the miners (not enough space and lacking power). So we ended up holding on to our miners without running them. We've heard different things from different people regarding what to do with our miners at this point. Some say to find 3rd party hosting or colocation, some say to keep the miners boxed until we are able to resell them.

So now my friend and I are honestly very confused and don't know what to do! Should we try to resell the miners without using them or host them somewhere? Is it even safe?

Any  help would be appreciated, thanks in advance!

[1715265586]

1715265586

[1715265586]

1715265586

[1715265586]

1715265586

[1715265586]

1715265586

[1715265586]

1715265586

[Crypto-Geek]

Hey H20,

That's a major concern for a lot of individuals and companies getting into crypto.

There are many hidden costs to keeping the miners inactive.

https://miningsky.com/2018/03/24/miner-hosting/

Miningsky's article mentions sunk costs and maintenance cost for inactive miners.

Hosting services should be a major concern for individuals such as you and your friend as the cost of hosting varies depending on where the hosting location is.

Aspects you should consider aside from the location would be how safe/reliable is the hosting company.

I personally bought rigs from Miningsky and their customer service and speed is impeccable, this is my opinion though.

But the blogpost i linked above is a good read. Makes you think about the cost you might calculate having inactive miners.

[nsummy]

What did you buy exactly?  Hard to give advice without knowing that.

[johnnie18]

A friend and I recently got talked into purchasing a few GPU miners for ethereum.. only to realize afterwards  that our setup at home wasn't enough to run the miners (not enough space and lacking power). So we ended up holding on to our miners without running them. We've heard different things from different people regarding what to do with our miners at this point. Some say to find 3rd party hosting or colocation, some say to keep the miners boxed until we are able to resell them.

So now my friend and I are honestly very confused and don't know what to do! Should we try to resell the miners without using them or host them somewhere? Is it even safe?

Any  help would be appreciated, thanks in advance!

What kind of GPU miners for Ethereum did you purchase? If you purchase a Video Card it must be higher specification. I suggest that you must do research works especially in what type of Video Cards to be used and what mining sites or software to be use which can be more profitable.

[edwardceng]

how can we try to help and give some suggestions while the OP does not explain about the hardware at least explain the series and number of GPU also how much its PSU wattage.

[GoneRogue2018]

Colocation is very expensive, unless you know someone in that space.

[DevelopmentBank]

Lacking space and power? It would help a tad bit if you expounded on what you are trying to get help with..

In any case:
1. If you are lacking space because your motherboard has no other GPU slots, then simply buy a new motherboard which is compatible with your current CPU ad RAM.
2. If you are lacking power because your power supply has already reached maximum capacity, simply buy a new one.

The problem you are facing isn't hard. Just use critical thinking and problem solving skills. If you couldn't figure that out then you shouldn't be mining for profit. You will lose money.

[H2osakana]

Sorry, my bad I forgot to post the specs of the miners I purchased. They are below:

Power: 1600 W (110 V and 220 V Compatible, 220 V Recommended)
System Power 1200W - 1400W
MH/S: 240 (8X30)
CPU - Intel Celeron CPU G1840/G3320
Power Consumption: 1600W
Memory: 4G DDR3 SODIMN
Energy Cost: $0.05/KWH
HDD: 64G SSD
ETA Full-Operational: 30 - 45 Days
Network Card: Ethernet Card
USB: 2 X USB3.0
Video Card: 8 X RX580 4G
Display Output: HDMI
Fans: 4X12038 4PIN High Dedicated Fans for Servers

What I'm facing right now is that my friend's and my homes cannot run these miners comfortably. I was told colocation or miner hosting is a great option but I never looked into it... would help to see what everyone thinks. Is it really expensive like GoneRouge2018 said?

[nc50lc]

If you know someone who got a mining farm or a garage, talk to him.
You will pay for the electricity and internet for your miner and rent for the space cheaply or expensive depending on your contract.
Or Rent a warehouse together with other miners, the rent will be divided equally or depending on the number of rigs and power consumption.
~That's colocation.

Sorry to day this but, today, you wont even reach 0.01% ROI from mining Ethereum using that rig without cheap/free electricity.
You can re-sell the Whole Rig or Per Parts to get a Capital Return.

Research more about "mining" before trying to start.

Lacking space and power? It would help a tad bit if you expounded on what you are trying to get help with..

OP must be talking about:

• Space: Might be living in an apartment with no garage or even a basement.
• Power: Again, he might be in an apartment with Max 12-15A total current (220V).

[Geraldo]

Energy Cost: $0.05/KWH

With that KWH cost, just go to start mining at least with a half or a few cards only, at your place. But may you need to pick another coin.

Space: With half of your total cards, I think you can put it anywhere, but keep to think about air flow.

Lacking power: If you didn't install all of your cards, it would reduce power consumption, may you can run it.


Except you can re-sell it ASAP and at a reasonable price, of course, I think would be a bit hard to do it in this current situation.

[bandana121]

Sorry, my bad I forgot to post the specs of the miners I purchased. They are below:

Power: 1600 W (110 V and 220 V Compatible, 220 V Recommended)
System Power 1200W - 1400W
MH/S: 240 (8X30)
CPU - Intel Celeron CPU G1840/G3320
Power Consumption: 1600W
Memory: 4G DDR3 SODIMN
Energy Cost: $0.05/KWH
HDD: 64G SSD
ETA Full-Operational: 30 - 45 Days
Network Card: Ethernet Card
USB: 2 X USB3.0
Video Card: 8 X RX580 4G
Display Output: HDMI
Fans: 4X12038 4PIN High Dedicated Fans for Servers

What I'm facing right now is that my friend's and my homes cannot run these miners comfortably. I was told colocation or miner hosting is a great option but I never looked into it... would help to see what everyone thinks. Is it really expensive like GoneRouge2018 said?

Could I ask which motherboard and risers are you using?

[trecore4]

A friend and I recently got talked into purchasing a few GPU miners for ethereum.. only to realize afterwards  that our setup at home wasn't enough to run the miners (not enough space and lacking power). So we ended up holding on to our miners without running them. We've heard different things from different people regarding what to do with our miners at this point. Some say to find 3rd party hosting or colocation, some say to keep the miners boxed until we are able to resell them.

So now my friend and I are honestly very confused and don't know what to do! Should we try to resell the miners without using them or host them somewhere? Is it even safe?

Any  help would be appreciated, thanks in advance!

If you are going to resell it then why would you buy it in the first? I mean you should have thought of the set up, upcoming problems and huddles before purchasing it. Anyway if you have already have it now then dont loose the hopes as you can still run the rig. I am not sure why are you saying that there is not sufficient power in your house? I mean the phase power is always interactive and whenever the power is required more by the house then it is provided by the phase. I am not sure from which country you are, but the electricity grid in India works this way only. There shouldnt be any issue about this one. You can always ask for expert people who can help you get started. I think running it would be good decision as ETH is blooming coin now a days.

[leonix007]

Sorry, my bad I forgot to post the specs of the miners I purchased. They are below:

Power: 1600 W (110 V and 220 V Compatible, 220 V Recommended)
System Power 1200W - 1400W
MH/S: 240 (8X30)
CPU - Intel Celeron CPU G1840/G3320
Power Consumption: 1600W
Memory: 4G DDR3 SODIMN
Energy Cost: $0.05/KWH
HDD: 64G SSD
ETA Full-Operational: 30 - 45 Days
Network Card: Ethernet Card
USB: 2 X USB3.0
Video Card: 8 X RX580 4G
Display Output: HDMI
Fans: 4X12038 4PIN High Dedicated Fans for Servers

What I'm facing right now is that my friend's and my homes cannot run these miners comfortably. I was told colocation or miner hosting is a great option but I never looked into it... would help to see what everyone thinks. Is it really expensive like GoneRouge2018 said?

still it doesn't clearly identify the reasons on why one mining rig can't be done in a home.

comfortably? - either a small room, one rig with 8 GPU is not that big, unless you are using a server type PSU and have a hell lot of noise

[H2osakana]

Thanks everyone for the help.

still it doesn't clearly identify the reasons on why one mining rig can't be done in a home.

comfortably? - either a small room, one rig with 8 GPU is not that big, unless you are using a server type PSU and have a hell lot of noise

My friend and I purchased 12 miners and we ended up not having enough space to run them at home.

There are many hidden costs to keeping the miners inactive.

https://miningsky.com/2018/03/24/miner-hosting/

Miningsky's article mentions sunk costs and maintenance cost for inactive miners.

Hosting services should be a major concern for individuals such as you and your friend as the cost of hosting varies depending on where the hosting location is.

Crypto-Geek, I just realized I purchased the miners from Miningsky but on Ebay. And it turned out they also offer colocation and hosting services, but I think my quantity is too small. Most of what they are advertising is for much bigger operations... https://miningsky.com/miner-hosting/

[Geraldo]

still it doesn't clearly identify the reasons on why one mining rig can't be done in a home.

comfortably? - either a small room, one rig with 8 GPU is not that big, unless you are using a server type PSU and have a hell lot of noise

My friend and I purchased 12 miners and we ended up not having enough space to run them at home.

12 cards, can be made one or two rigs, seem like no need too much space. You can build vertical open-air rig case for reducing the dimension. How about electricity issue? Like I said above, you can start to run half of your total card if your electric power isn't enough to run all of your cards.


As your reference:

_______________
BITMINE RIG-V6

[H2osakana]

still it doesn't clearly identify the reasons on why one mining rig can't be done in a home.

comfortably? - either a small room, one rig with 8 GPU is not that big, unless you are using a server type PSU and have a hell lot of noise

My friend and I purchased 12 miners and we ended up not having enough space to run them at home.

12 cards, can be made one or two rigs, seem like no need too much space. You can build vertical open-air rig case for reducing the dimension. How about electricity issue? Like I said above, you can start to run half of your total card if your electric power isn't enough to run all of your cards.


As your reference:

https://i.imgur.com/sAk8OyC.jpg

https://i.imgur.com/r0Vwa50.jpg

https://i.imgur.com/I2rs4YW.jpg

_______________
BITMINE RIG-V6

Thank you! I will try that out!

[androstan1234]

1600W power consumption?  That rig should draw about 1000W from the wall.

[H2osakana]

1600W power consumption?  That rig should draw about 1000W from the wall.

really? The rig has 8 gpus. I assumed the power consumption is for all 8 gpus?

[Midcrypto]

A friend and I recently got talked into purchasing a few GPU miners for ethereum.. only to realize afterwards  that our setup at home wasn't enough to run the miners (not enough space and lacking power). So we ended up holding on to our miners without running them. We've heard different things from different people regarding what to do with our miners at this point. Some say to find 3rd party hosting or colocation, some say to keep the miners boxed until we are able to resell them.

So now my friend and I are honestly very confused and don't know what to do! Should we try to resell the miners without using them or host them somewhere? Is it even safe?

Any  help would be appreciated, thanks in advance!

The 8 GPU rig you have is safe to run with one 20 amp circuit @ 110v. Most homes have a mix of 15 amp and 20 amp circuits, just open up your electrical panel and take a look. You can map the circuit by plugging a lamp into outlets and flipping the breaker to see if it is connected to that outlet.

Alternatively you could remove 2 cards from the rig and safely run it on a 15 amp circuit @ 110v.

Otherwise sell the rig or get it hosted somewhere. We offer hosting services that would solve your problem.

https://midcrypto.com/pages/hosting

[CryptoPlay]

1600W power consumption?  That rig should draw about 1000W from the wall.

really? The rig has 8 gpus. I assumed the power consumption is for all 8 gpus?

And looking to your specs that you wrote here, i can tell you are a hardware noob. Before start, you`ll need to read about how to mod your cards. Youll need another bios on those 580.
My advice is, dont start with all 8. Install everything(windows), MOD all cards separately, and then filll your case to run! Go slow!