MSI Radeon RX 580 Mining rig?

[tntpower10]

Hello,
i thought about building a mining rig with 3-6 MSI Radeon RX 580!
What do you think which altcoin i should mine and how many profit i could make?
Energy costs are 0.14$/kWHT

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[1714536244]

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[swogerino]

Hello,
i thought about building a mining rig with 3-6 MSI Radeon RX 580!
What do you think which altcoin i should mine and how many profit i could make?
Energy costs are 0.14$/kWHT

The limit to be profitable is 0.10 dollars kilowatt from what I have seen here. The difficulty is increasing and mining profitability only these last few days together with the increase in price of bitcoin has just increased a bit.

I suggest that you do it with the intention of exchanging the coins you mine in bitcoin through different exchanges and then keeping the bitcoin hoping for a better price in the future.

If you are in for the quick buck, don't bother it is not worthy.

[Suslived]

Hello,
i thought about building a mining rig with 3-6 MSI Radeon RX 580!
What do you think which altcoin i should mine and how many profit i could make?
Energy costs are 0.14$/kWHT

The limit to be profitable is 0.10 dollars kilowatt from what I have seen here. The difficulty is increasing and mining profitability only these last few days together with the increase in price of bitcoin has just increased a bit.

I suggest that you do it with the intention of exchanging the coins you mine in bitcoin through different exchanges and then keeping the bitcoin hoping for a better price in the future.

If you are in for the quick buck, don't bother it is not worthy.

Wrong. I'm mining at 0.20 dollars per kilowatt and am still turning a profit. You just need to do the necessary research and mine the right coins. You will have a hard time earning profit if you simply follow what everyone else does which is mining Ethereum.

[leonix007]

Know the risk, ASICs are approaching that could make mining difficulty unto a spike, not unless those GPU's are at reasonable price and you have a plan on how to dispose/resell them at ease when mining is not already profitable, then I guess buy it at least

[Bitmore]

Hey. you can put yourself NiceHash and he will automatically test your rig and show how much can be mined

[timbereagle]

0.14 USD for electricity is quite high. For now it will be profitable but if hashrate keeps increasing probably you might not roi.

However you might consider GTX 1070 and 1070ti and you can mine speculative low hashrate coins.

This would be more profitable.

[vlad230]

I would recommend starting to mine with your CPU first to better understand what's it all about, rather than just starting to buy expensive GPUs and realizing that you had missing information when starting out that caused you to loose money.
You can check this thread for more information: https://bitcointalk.org/index.php?topic=2891680.0

If you still want to go forward with buying GPUs, you can check this website to see what kind of profitability you can expect: http://whattomine.com/

[Midcrypto]

Hello,
i thought about building a mining rig with 3-6 MSI Radeon RX 580!
What do you think which altcoin i should mine and how many profit i could make?
Energy costs are 0.14$/kWHT

Congrats on the plan to start mining!

First off go with RX-570's instead of the 580 as it will be slightly cheaper and with the proper BIOS mods will produce the exact same hash rates.

Second, don't listen to anyone saying "it's not profitable". Even at .50 kw/h it's still profitable not including any future rise in value. Mining profitability is always underwhelming on paper but you rarely if ever hear of miners quitting or going broke. Given the up front costs it may seem like you wont ROI very quickly, however the cards have value themselves and if the past is any indication the Crypto you mine will increase in value effectively increasing your daily profitability.

Third, right now for AMD RX-560/570/580's the most profitable coin will be Monero, assuming you correctly modify your cards to maximize their potential.

Use this tool as a good place to start:

https://whattomine.com

Goodluck and welcome to the muscle behind Blockchains!

[koody]

Mining monero or eth.

[dhouse]

i have a 4-card rig of 580s. It's profitable for me, mostly just mining boring old Eth, but I have electricity rates that are half of yours. Still, Nicehash says it's still technically profitable, though will be longer time to ROI.