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Author Topic: Renting Dedicated Servers for mining  (Read 7090 times)
awigaxeh-443
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March 20, 2012, 06:36:59 AM
 #1

has anyone ever done this and is it profitable?
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March 20, 2012, 06:42:33 AM
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At the moment its not profitable for Litecoin, and Bitcoin is pointless unless you have cheap dedicated servers with AMD GPU's
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March 20, 2012, 06:44:15 AM
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Of course there are dedicated servers with GPU, who says there isn't.
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March 20, 2012, 06:55:26 AM
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I expect you mean Amazon EC2 when you say this.
No, it wouldn't be profitable unless you get a very steep discount. Also, ATI cards are more efficient for mining as compared to Nvdia, which is what most GPGPU clusters use nowadays.

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March 20, 2012, 06:59:30 AM
 #5

http://www.peer1.com/cloud-hosting/high-performance-cloud-computing
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March 20, 2012, 07:06:16 AM
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peer1.com uses Nvdia Tesla as their GPU's. As I said, it's incredibly inefficient for mining, and the cost you pay to rent will easily overcome the bitcoins raked in. Else everyone would be doing this by now.

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March 20, 2012, 07:14:56 AM
 #7

I couldn't see any "price tag". Any idea of how much per month we're talking about?

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March 20, 2012, 07:20:23 AM
 #8

I couldn't see any "price tag". Any idea of how much per month we're talking about?

I expect it'll be along the lines of Amazon's EC2 prices. Many private research companies and universities unable to afford the startup costs of a processing cluster use their services extensively, so don't expect a discount easily.

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awigaxeh-443
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March 20, 2012, 07:35:39 AM
 #9

EC2 is actually decent!

Heavy Utilization Reserved Instances
Region:
1 yr Term   3 yr Term
Upfront   Hourly   Upfront   Hourly
Standard Reserved Instances
Small (Default)   $195   $0.036 per Hour   $300   $0.033 per Hour
Medium   $390   $0.073 per Hour   $600   $0.066 per Hour
Large   $780   $0.145 per Hour   $1200   $0.132 per Hour
Extra Large   $1560   $0.29 per Hour   $2400   $0.264 per Hour
Micro Reserved Instances
Micro   $62   $0.011 per Hour   $100   $0.011 per Hour
High-Memory Reserved Instances
Extra Large   $1030   $0.158 per Hour   $1550   $0.14 per Hour
Double Extra Large   $2060   $0.315 per Hour   $3100   $0.28 per Hour
Quadruple Extra Large   $4120   $0.63 per Hour   $6200   $0.56 per Hour
High-CPU Reserved Instances
Medium   $500   $0.105 per Hour   $775   $0.10 per Hour
Extra Large   $2000   $0.42 per Hour   $3100   $0.40 per Hour
Cluster Compute Reserved Instances
Quadruple Extra Large   $4060   $0.477 per Hour   $6300   $0.477 per Hour
Eight Extra Large   $5000   $0.571 per Hour   $7670   $0.571 per Hour
Cluster GPU Reserved Instances
Quadruple Extra Large   $6830   $0.794 per Hour   $10490   $0.794 per Hour


THE QUADRUPLE XL is enticing, I wonder how much is the hash rate of that?
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March 20, 2012, 04:03:16 PM
 #10

EC2 is actually decent!

Heavy Utilization Reserved Instances
Region:
1 yr Term   3 yr Term
Upfront   Hourly   Upfront   Hourly
Standard Reserved Instances
Small (Default)   $195   $0.036 per Hour   $300   $0.033 per Hour
Medium   $390   $0.073 per Hour   $600   $0.066 per Hour
Large   $780   $0.145 per Hour   $1200   $0.132 per Hour
Extra Large   $1560   $0.29 per Hour   $2400   $0.264 per Hour
Micro Reserved Instances
Micro   $62   $0.011 per Hour   $100   $0.011 per Hour
High-Memory Reserved Instances
Extra Large   $1030   $0.158 per Hour   $1550   $0.14 per Hour
Double Extra Large   $2060   $0.315 per Hour   $3100   $0.28 per Hour
Quadruple Extra Large   $4120   $0.63 per Hour   $6200   $0.56 per Hour
High-CPU Reserved Instances
Medium   $500   $0.105 per Hour   $775   $0.10 per Hour
Extra Large   $2000   $0.42 per Hour   $3100   $0.40 per Hour
Cluster Compute Reserved Instances
Quadruple Extra Large   $4060   $0.477 per Hour   $6300   $0.477 per Hour
Eight Extra Large   $5000   $0.571 per Hour   $7670   $0.571 per Hour
Cluster GPU Reserved Instances
Quadruple Extra Large   $6830   $0.794 per Hour   $10490   $0.794 per Hour


THE QUADRUPLE XL is enticing, I wonder how much is the hash rate of that?

It's a dual M2050, so it should be around 160MHash:
Code:
Tesla M2050 79.8 1550 448 DiabloMiner

I could go faster with a single 5750, which goes for around $60 here new, and significantly lower electricity costs.

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March 20, 2012, 04:08:05 PM
 #11

At the moment its not profitable for Litecoin, and Bitcoin is pointless unless you have cheap dedicated servers with AMD GPU's

Of course there are dedicated servers with GPU, who says there isn't.

Reading comprehension help.  Bolded by me for emphasis.
awigaxeh-443
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March 20, 2012, 04:48:47 PM
 #12

At the moment its not profitable for Litecoin, and Bitcoin is pointless unless you have cheap dedicated servers with AMD GPU's

Of course there are dedicated servers with GPU, who says there isn't.

Reading comprehension help.  Bolded by me for emphasis.


Maybe you shouldn't be such a jackass that goes through all my threads just to prove some very little reasoning statement.
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March 20, 2012, 05:17:40 PM
 #13

I couldn't see any "price tag". Any idea of how much per month we're talking about?

got a quote from peer1 a year ago, it was around $2k monthly and a setup fee
of $5k, for 2 x  Nvidia M2050 install.

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March 21, 2012, 06:00:00 PM
 #14

In no way is this cost effective. It might be if they offered AMD cards for GPUs, but with the Teslas they're both (EC2 and Peer1) using, it's just not. CPU mining isn't cost effective on any scale, and will become significantly less so over this summer as the big mines upgrade to FPGAs and ASICs, and the reward decreases.

http://glennfrancismurray.com/cost-defective-mining-with-gpu-clusters-amazo
http://paulstamatiou.com/bitcoin-mining


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March 22, 2012, 02:14:16 AM
 #15

Yeh... Not a good idea.
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