Putting idle money to work... Free Electricity- What GPU Mining Rigs to build?

[Pearls Before Swine]

If the power is free then you are going to make money, no questions asked really.

If you consider the hardware you have to buy in order to set up the mining operation, is that even true?  I have not mined any coin in my life, but I've been doing some research about it and from all that I've seen the income you get from mining solo with cards and the like is minimal.  Even with free electricity, you would have to recoup the cost of the mining equipment.  Is that actually possible by doing what op is proposing?

But if there is a choice to get profit in a liquid token or double profit in shitcoin I would choose liquidity.

That is actually an excellent point, but I would assume that a higher profit coin would also have enough liquidity in the market such that you could sell it easily.  You certainly wouldn't want to mine a coin that isn't listed on exchanges and that no one is interested in.
 
Best of luck to op if he tries this.

[Harai Goshi]

That is actually an excellent point, but I would assume that a higher profit coin would also have enough liquidity in the market such that you could sell it easily.  You certainly wouldn't want to mine a coin that isn't listed on exchanges and that no one is interested in.

Being able to mine new POW coins before they get listed is one of the major advantages of GPU mining.  Just takes time to find & vet new projects.

[sakmsb]

Here you wont even get 1%, you can be lucky if you dont have to pay anything. But the more money you own, the more penalty interest you have to pay to the bank  Long live the EU...

B2t: If you havent decided yet which board, go with the Asus B250 Mining Expert. Its very cheap and you can run more than 8 cards.

Yes the MB with 19 slots, I have seen people running at least 13 GPUS without issues.

[sakmsb]

Hey Mining Community,

Wanted to know your thoughts on Building a rig considering Free electricity.

Instead of keeping money in Banks, I want to put it in Mining so that I'd be getting some money monthly instead of money being in bank and paying me like 7% yearly interest.

A balanced approach of Nvidia and AMD would be best?

Say I have the budget ~$20k I can build a rigs something like this in my country 12 AMD RX 570 Cards + 12 AMD RX 580 Cards + 12 RTX 2060 Cards + 12 RTX 2070.

Your insights are appreciated.

Thanks!

If the power is free then you are going to make money, no questions asked really. As for what cards to get, i wouldnt mix it up too much. Its better to have the same type of cards, makes managing way easier.
Generally speaking AMD seems to be preferred as it tends to perform better on more algos (while Nvidia is better at specific ones). I would look at the price and would ask around for OTC deals for miners who are exiting teh market

Thanks!

By having a mix of GPUs I meant, I will build one rig of one type and not one rig having mix of cards; Example

1 Rig of 570
1 Rig of 580
1 Rig of 2060 like this.

But if you are interested in doing spec mining and going for some nice plays, then the nvidia/amd mix could work better. I personally have one rig with 1080s and one with 570s for spec mining as i never know what new coin comes out and what cards will perform better on it.

May be I want a little of both, Some stable income and also do spec mining.

My new rig will be the 580/570 mix for now. And later on may be 2 months down the line 1 rig with the 16xx series

[sakmsb]

Hey Mining Community,

Wanted to know your thoughts on Building a rig considering Free electricity.

Instead of keeping money in Banks, I want to put it in Mining so that I'd be getting some money monthly instead of money being in bank and paying me like 7% yearly interest.

A balanced approach of Nvidia and AMD would be best?

Say I have the budget ~$20k I can build a rigs something like this in my country 12 AMD RX 570 Cards + 12 AMD RX 580 Cards + 12 RTX 2060 Cards + 12 RTX 2070.

Your insights are appreciated.

Thanks!

When it comes to Free electricity the Mining would really be 100% profitable no matter what coin you do mine yet there would be no expenses would be deducted
but considering on the amounts that you would earn into those Rigs on daily basis wont really able to reach out ROI for a short duration of time.

Just be sure that those free electricity of yours would last because Free doesnt really exist because someone has to pay for it.Lucky for you that you are just using it for free.

Agreed, I'm not much worried about the quick ROI.

Just want to put the idle money to work, and mining seems a bit less risky as I would be getting some income daily/weekly/monthly with out paying HUGE electricity bills.

[sakmsb]

If the power is free then you are going to make money, no questions asked really.

If you consider the hardware you have to buy in order to set up the mining operation, is that even true?  I have not mined any coin in my life, but I've been doing some research about it and from all that I've seen the income you get from mining solo with cards and the like is minimal.  Even with free electricity, you would have to recoup the cost of the mining equipment.  Is that actually possible by doing what op is proposing?

But if there is a choice to get profit in a liquid token or double profit in shitcoin I would choose liquidity.

That is actually an excellent point, but I would assume that a higher profit coin would also have enough liquidity in the market such that you could sell it easily.  You certainly wouldn't want to mine a coin that isn't listed on exchanges and that no one is interested in.
 
Best of luck to op if he tries this.

As I'm not really worried about the ROI that statement actually stands true.

I'm wanting to put the money to work that's it.

[33bitcoin]

Even with free electricity you will make more money  form buying coins instead of buying minres.  Don't fall for those marketing campaigns, buying gear is like the people that made money from the gold rush.  Remember the minres didnt make the money it was the suppliers of equipment.

[edmundduke]

If the power is free then you are going to make money, no questions asked really.

If you consider the hardware you have to buy in order to set up the mining operation, is that even true?  I have not mined any coin in my life, but I've been doing some research about it and from all that I've seen the income you get from mining solo with cards and the like is minimal.  Even with free electricity, you would have to recoup the cost of the mining equipment.  Is that actually possible by doing what op is proposing?

But if there is a choice to get profit in a liquid token or double profit in shitcoin I would choose liquidity.

That is actually an excellent point, but I would assume that a higher profit coin would also have enough liquidity in the market such that you could sell it easily.  You certainly wouldn't want to mine a coin that isn't listed on exchanges and that no one is interested in.
 
Best of luck to op if he tries this.

With free power, you will make money with GPU mining, that is not a question. You will make less money as new hardware comes out but since you do not have a "sink" that cuts into your profitability you will make money (unless you somehow manage to burn the rig). If you know what to do and have some luck (that a good coin is launched after you buy teh rigs), you will ROI pretty fast.

[panjay]

I'm wondering if you just solo mine some coins like eth for a month, are you ended in a profit? I hear some guys a long time ago, solo mined bitcoin and got his block after 20++ days.. it's worth it though?

[Xsinx]

You can build any mining rigs and it will be profitable for as long as you have free electricity. Even the oldest GTX750ti will work and will bring a positive profit in mining if the electricity is free

[sakmsb]

I'm wondering if you just solo mine some coins like eth for a month, are you ended in a profit? I hear some guys a long time ago, solo mined bitcoin and got his block after 20++ days.. it's worth it though?

Would be earning more in pool mining than solo.

[sakmsb]

You can build any mining rigs and it will be profitable for as long as you have free electricity. Even the oldest GTX750ti will work and will bring a positive profit in mining if the electricity is free

RX 570s seems better than most

[Fredomago]

You can build any mining rigs and it will be profitable for as long as you have free electricity. Even the oldest GTX750ti will work and will bring a positive profit in mining if the electricity is free

RX 570s seems better than most

Anything if you have free electricity, this is a hard question as we can't be sure how the market will go after some months of mining, as of now the industry  for this venue is no longer profitable considering the expenses that you'll need to consider, plus the maintenance of your mining rigs, only those who's aiming for long term engagement and can handle the expenses out from their pockets can determined what will be the outcome results after some months of mining.

[bigjee]

Hey Mining Community,

Wanted to know your thoughts on Building a rig considering Free electricity.

Instead of keeping money in Banks, I want to put it in Mining so that I'd be getting some money monthly instead of money being in bank and paying me like 7% yearly interest.

A balanced approach of Nvidia and AMD would be best?

Say I have the budget ~$20k I can build a rigs something like this in my country 12 AMD RX 570 Cards + 12 AMD RX 580 Cards + 12 RTX 2060 Cards + 12 RTX 2070.

Your insights are appreciated.

Thanks!

Like can you PM your bank's name. Looking to put 20k into a bank account to get a 7% annual return.

[WickedPigeon]

Depends what you want to mine.

But the 1660TI is still the top option. And it's reasonable priced. 

[jacafbiz]

The capital with you is good but it depend on the coins you want to mining, most of these mining rigs are selective and if you have access to cheap or used mining rig would be a good fit for you, most people closed their rig last year during the bear market and believe some are on sale at good prices now

[jmigdlc99]

Agreed, I'm not much worried about the ROI.

Huh? But you should be worried about ROI. You do realize that until you reach ROI you are NOT actually making any money. You are not putting any money to work yet because all you did was spend your money. I'd suggest putting more thought into this. There are a lot of risks involved and you could end up losing money instead of "earning passive income."

Anyway, i'd suggest using 1080ti's or 1060s. NVIDIA is much easier to maintain and profit margins now are slightly better than AMD's.

[CLywaTeLb]

You can build any mining rigs and it will be profitable for as long as you have free electricity. Even the oldest GTX750ti will work and will bring a positive profit in mining if the electricity is free

Yes, in this case it is possible to use any equipment, even used. Thanks to free power, you can find and buy the most suitable equipment after some time. This is a good competitive opportunity to mine liquid coins like ethereum. While this is possible.
If free energy can end soon, then it is better to buy hardware with a maximum warranty period.

[Wotan Wipeout]

I personally go for less rigs with better GPUs.
Less Mainboards, CPUs, Ram etc to buy.
Less problems....

[WickedPigeon]

Hey Mining Community,

Wanted to know your thoughts on Building a rig considering Free electricity.

Instead of keeping money in Banks, I want to put it in Mining so that I'd be getting some money monthly instead of money being in bank and paying me like 7% yearly interest.

A balanced approach of Nvidia and AMD would be best?

Say I have the budget ~$20k I can build a rigs something like this in my country 12 AMD RX 570 Cards + 12 AMD RX 580 Cards + 12 RTX 2060 Cards + 12 RTX 2070.

Your insights are appreciated.

Thanks!

I would build with the 2060 - it's the future and 20xx cards will see improvements with driver updates over time.