Mining ring with multiple GTX 1070s / 1070ti GPUs. Is it worth it?

[TSN11]

Hello,

Over a year ago, I used to mine just for fun with GTX 970ti. I stopped mining for almost a year. Recently, I purchased a GTX 1070 GPU and installed Nicehash 2.0, to "test" my new GPU. I was surprised to see that it can only make $1.40-$1.50 per day without overclocking (up to $1.70 with overclocking). I also tried to mine ETH and ETC in Nanopool, but the results were much worse.

Since the energy cost in my area is relatively low (~$0.07), I was thinking about building a small mining rig with "Titanium" or "Platinum" PSU and 4-5 GTX 1070/1070ti GPUs. My goal is to be able to mine ALT coins for ~$10 per day. I'm just not sure if a ring with a few GTX 1070 GPUs will be powerful enough nowadays for mining. Any advice would be greatly appreciated!

[Max Likelihood]

There's been a quite a lot of this sort of discussion, and if you check similar threads here you'll see a range of opinions. I think it depends on your risk tolerance. If you have to go 1070 for some reason, personally I prefer the 1070ti since the extra CUDAs have a real impact for only slightly more price.

Overall just  depends on how much capital you can afford tie up in equipment, your risk tolerance, belief in the future crypto, what you want to mine and whether it will be asic'ed or fpga'ed (some believe everything will) and whether makes sense for you to  just wait for the 11 series cards dropping soon. Good luck.

[TSN11]

There's been a quite a lot of this sort of discussion, and if you check similar threads here you'll see a range of opinions. I think it depends on your risk tolerance. If you have to go 1070 for some reason, personally I prefer the 1070ti since the extra CUDAs have a real impact for only slightly more price.

Overall just  depends on how much capital you can afford tie up in equipment, your risk tolerance, belief in the future crypto, what you want to mine and whether it will be asic'ed or fpga'ed (some believe everything will) and whether makes sense for you to  just wait for the 11 series cards dropping soon. Good luck.

Thank you for your reply. I have about $2K which I can invest in 4 GTX1070ti GPUs (I already have a spare PSU and MB). I have a lot of doubts about the future of crypto currencies, but I'm willing to give it a try I'm just not sure if I should invest money in GTX 1070s or wait for 11XX...

[leowonderful]

There's been a quite a lot of this sort of discussion, and if you check similar threads here you'll see a range of opinions. I think it depends on your risk tolerance. If you have to go 1070 for some reason, personally I prefer the 1070ti since the extra CUDAs have a real impact for only slightly more price.

Overall just  depends on how much capital you can afford tie up in equipment, your risk tolerance, belief in the future crypto, what you want to mine and whether it will be asic'ed or fpga'ed (some believe everything will) and whether makes sense for you to  just wait for the 11 series cards dropping soon. Good luck.

Thank you for your reply. I have about $2K which I can invest in 4 GTX1070ti GPUs (I already have a spare PSU and MB). I have a lot of doubts about the future of crypto currencies, but I'm willing to give it a try I'm just not sure if I should invest money in GTX 1070s or wait for 11XX...

There's no indication of how good the 11 series of cards will be, so it's anybody's guess- could be good, could be just okay, but just make sure you're okay with losing your money like Max said above.

As to how 'powerful' the rig will be, you're going to make approximately $166 according to Nicehash at current rates. Powerful is an extremely relative term and it's completely opinionated. What you should really be looking at is how much you might make and how long it might take you to break even at current rates. As of right now, it'll take about a year assuming things everything stays exactly the same, which most likely won't happen.

I'm personally staying away from GPU mining in general right now as FPGAs and ASICs are taking over algos left and right, but if you're okay with taking a bit of risk, considering the way things are going for you, go for it.

[edwardceng]

this's a tough thing to give an advice about "worth or not" for now if purchasing or building mining Rig (GPUs) because the current GPU miners know it's a bit tired to take advantage even though every miner has a different perception. personally, I don't agree if I have to buy a new card for now.

[jmigdlc99]

Hello,

Over a year ago, I used to mine just for fun with GTX 970ti. I stopped mining for almost a year. Recently, I purchased a GTX 1070 GPU and installed Nicehash 2.0, to "test" my new GPU. I was surprised to see that it can only make $1.40-$1.50 per day without overclocking (up to $1.70 with overclocking). I also tried to mine ETH and ETC in Nanopool, but the results were much worse.

Since the energy cost in my area is relatively low (~$0.07), I was thinking about building a small mining rig with "Titanium" or "Platinum" PSU and 4-5 GTX 1070/1070ti GPUs. My goal is to be able to mine ALT coins for ~$10 per day. I'm just not sure if a ring with a few GTX 1070 GPUs will be powerful enough nowadays for mining. Any advice would be greatly appreciated!

It's powerful enough for TODAY. But for next month, who knows? There seems to be a ton of risks factors facing GPU miners right now and i feel the GPU mining market will become obsolete once mining matures.

You probably don't need Titanium rated PSUs, along with it's hefty pricetag. The platinum PSUs are already good enough as they are.

[Aeon_]

Right now I will do a 50% approach:
1K$ buy 2x1070ti
1K$ buy BTC/ETH/LTC/XMR...

[Marvell2]

Right now I will do a 50% approach:
1K$ buy 2x1070ti
1K$ buy BTC/ETH/LTC/XMR...

smart

[Etherion]

Hello,

Over a year ago, I used to mine just for fun with GTX 970ti. I stopped mining for almost a year. Recently, I purchased a GTX 1070 GPU and installed Nicehash 2.0, to "test" my new GPU. I was surprised to see that it can only make $1.40-$1.50 per day without overclocking (up to $1.70 with overclocking). I also tried to mine ETH and ETC in Nanopool, but the results were much worse.

Since the energy cost in my area is relatively low (~$0.07), I was thinking about building a small mining rig with "Titanium" or "Platinum" PSU and 4-5 GTX 1070/1070ti GPUs. My goal is to be able to mine ALT coins for ~$10 per day. I'm just not sure if a ring with a few GTX 1070 GPUs will be powerful enough nowadays for mining. Any advice would be greatly appreciated!

Read this. https://blog.sia.tech/the-state-of-cryptocurrency-mining-538004a37f9b

Might give you some perspective

[Mkpez]

Right now I will do a 50% approach:
1K$ buy 2x1070ti
1K$ buy BTC/ETH/LTC/XMR...

Nice idea. I will want be a Miner. How do I get the techniques or tool require?

[manji]

Nice idea. I will want be a Miner. How do I get the techniques or tool require?

you can use the search function in this section of many threads that have been explained starting from the hardware, useful tools, comparing multiple cards (AMD vs NVIDIA) on the same algorithm and some techniques to improve hasharate when talking about the graphics cards also the software recomended from some experienced miners

[madnessteat]

My 2*ASUS GTX1070 ROG STRIX-GTX1070-O8G-GAMING and 1*ASUS GeForce ROG STRIX GTX 1070 Ti Advanced A8G give me 1.5 KH/s (ZEC) that's about $ 150 - 170 a month. Without electricity.