Hi!
I'm going to start mining, and I thought maybe I should post about it before I start to see if I missed anything, or to get any advice.
Back in 2013 when I heard about Bitcoin (Before the $1,000 surge) it was worth under $150. I heard about this IT employee in a University, using all their computers to mine bitcoins. So, I thought I should get into it too. But, I never did.
Then Bitcoin surged to $1,000 and I decided it was time. But then, I never did, because it dropped to $200 in 2014.
Then, I thought I was going to mine and just keep my Bitcoins because it will certainly go higher again. But never started.
Now, I see the price of the Bitcoin and remember the days when $1,000 a BTC seemed outrageously high. Now, everyone wish to buy a BTC at $5,000.
Also, one reason that I never started was the cost involved. Mainly Electricity. I would have been forced to sell every month some BTC earned to pay for that cost. However, I found a very good way to get cheap electricity.
So, this time, it's decided. I'm prepared, and after all the research, even though I never posted anything, I've read a lot. It's time to start mining.
I started by buying $200 worth of Bitcoins a few weeks ago, and decided that I was going to just invest as much as possible in Mining.
My goal is to mine and keep the earned BTC for the long term.
This is not to make me a living as of right now. I already have a living, so this is more like a side cryptocurrency generator.
The stored BTC price will either soar or crash in the future. Either way, I'm prepared.
So, my initial configuration is as follow:
Asrock H110 Pro BTC+ Intel H110 LGA 1151 (Socket H4) ATX - (DDR4-SDRAM, DIMM, 2133,2400 MHz, Dual, 32 GB, Intel) [ $153 ]
CPU Celeron G3100 [ $39 ]
SSD SanDisk 120Go [ $53 ]
12x Saphire RX580 [ $289 x 12 = $3,468 ]
1x Ram 8 Go DDR4 HyperX Savage [ $55 ]
13x Risers Ver 006C and 007S [ $8.35 x 13 = $108.55 ]
3 x PSU THERMALTAKE SMART-SE 730W [ $66 x 3 = $198 ]
I plan to add more GPUs. And after 2 or 3 months of usage, overclock them.
Electricity will cost at $0.025 / kWh (Yes, that's right) - Highly profitable.
I will post updates as I go with the project.
If you have any suggestions, or questions, please don't hesitate.
I'm very excited about this!!!
Have a good day!
Yome
That's a decent setup! I own 6 RX580s mining ETH, has been somewhat profitable but electricity is pretty expensive and ETH is down from it's 1500-1600 ATH. Still profitable, but less than before. I hope you the best with that cheap electricity you got and the nice investment you're making!
