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Building a Crypto Mining Rig


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Building a Crypto Mining Rig

  #21 (permalink)
 
GruttePier's Avatar
 GruttePier 
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Silver Dragon View Post
Couple people mentioned they were exchanging ETH for RavenCoin. Curious, what platform are you using to purchase or exchange it?



Thanks!

Robert

Hi Robert,

It’s actually quite a hassle.
The ETH is mined to my ETH wallet. I then transfer the funds to Binance (still in ETH), convert it to BTC and then buy the RVN/BTC pair.
If there is an easier way I very much like to know.


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  #22 (permalink)
 
Silver Dragon's Avatar
 Silver Dragon 
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Big Mike View Post
You might look at Polygon (MATIC), they have a layer 2 on top of Ethereum and gas is basically free by comparison.

I use Uniswap otherwise.

https://quickswap.exchange/

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Big Mike View Post
For non custodial mainstream tokens, I prefer Change NOW. They have an Android app too.



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GruttePier View Post
Hi Robert,

It’s actually quite a hassle.
The ETH is mined to my ETH wallet. I then transfer the funds to Binance (still in ETH), convert it to BTC and then buy the RVN/BTC pair.
If there is an easier way I very much like to know.


Sent using the nexusfi.com mobile app


@Big Mike @GruttePier

Thanks for the info! After doing some research into this it appears the easiest way to do this is to use Ledger. You can directly change from one coin to another using their provider Changelly without the hassle of moving stuff around. Plus your in control of your coins.

Change NOW has similar functionality but does not allow partial shares (like 0.1) of ETH.

Robert

Ledger
https://changelly.com/





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  #23 (permalink)
Vale Zaragoza
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Silver Dragon View Post
@sam028

Limit your power to 140
adjust the core to -510
adjust the memory to 3100

This produces 64 MH/s. The Temp hits 60c and the fan hardly runs at all.

Robert

Hello!
What do you think about AMD Radeon RX 5700 XT?

I read on videocardz.com that the upcoming GeForce RTX 3060 could hit the market with significant limitations for cryptocurrency mining, it was cited that its hash rate dropped by half.

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  #24 (permalink)
 
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 vmodus 
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SMCJB View Post
Always found this subject very interesting, not something I have ever pursued though as I had been lead to believe that it all comes down to electricity price and that it was almost impossible for retail to make money at retail electricity rates. But now that Bitcoin is literally 10x the price it was a year ago, maybe that has all changed.

Retail electricity rates are what eventually drove us out of mining back in 2014. We were looking at a commercial space to set up mining, but our hardware vendor went belly-up, so that idea ground to a halt.

The most cost effective mining is done near a power plant (hydro is a good candidate), where surplus electricity is cheap, especially in non-peak times.

~vmodus

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  #25 (permalink)
 
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 vmodus 
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mongoose View Post
@lexknight do you include your electricity usage in your profitability? With a rough estimation of the power usage I maybe net a dollar per day while its running.

There is at least a set of two power costs:
  1. Electricity to run the rigs
  2. Electricity to cool the house/office
I am not an engineer, but there is a ton of thermal exchange that you have to deal with (I am sure @lexknight has noticed the warmth ). You have to do something with that heat, or you are going to shorten the life (and profitability) of your equipment.

One of our solutions with the ASICs we were trying to purchase was going to be a custom liquid cooling solution with a heat exchanger outside the building. I am kind of sad, as I was really looking forward to the challenge of building that solution back in the day (2013-14).

But seriously, it is a lot of heat to deal with. In the picture shared, I would be concerned with the heat shortening the life of the cards based on being so close to the wall. We had our three rigs sitting in the middle of our open floor plan office (~1000 sq ft, 12 foot ceilings) and we did not even need to run the heat in the winter. Shorts in January in the office.... dress code.

One final consideration, with respect to energy cost, is the power supply of the rig. We used 80 Plus Platinum (I don't think Titanium were available... cannot recall) rated power supplies. More efficiency = lower cost. I would use a minimum of a Platinum power supply.

Just my .0000005 BTC from one who has done it....

~vmodus

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  #26 (permalink)
 
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 Silver Dragon 
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Vale Zaragoza View Post
Hello!
What do you think about AMD Radeon RX 5700 XT?

I read on videocardz.com that the upcoming GeForce RTX 3060 could hit the market with significant limitations for cryptocurrency mining, it was cited that its hash rate dropped by half.

@Vale Zaragoza

I have never used AMD so I dont have an opinion.

As far as the 3060's go, Nvidia accidently released a beta driver which was coded to disable the process which cuts the hash rate. lol

https://www.tomshardware.com/news/nvidia-hacks-own-geforce-rtx-3060-anti-mining-lock

Robert

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  #27 (permalink)
 
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 FuManChou 
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vmodus View Post
There is at least a set of two power costs:
  1. Electricity to run the rigs
  2. Electricity to cool the house/office
I am not an engineer, but there is a ton of thermal exchange that you have to deal with (I am sure @lexknight has noticed the warmth ). You have to do something with that heat, or you are going to shorten the life (and profitability) of your equipment.

One of our solutions with the ASICs we were trying to purchase was going to be a custom liquid cooling solution with a heat exchanger outside the building. I am kind of sad, as I was really looking forward to the challenge of building that solution back in the day (2013-14).

But seriously, it is a lot of heat to deal with. In the picture shared, I would be concerned with the heat shortening the life of the cards based on being so close to the wall. We had our three rigs sitting in the middle of our open floor plan office (~1000 sq ft, 12 foot ceilings) and we did not even need to run the heat in the winter. Shorts in January in the office.... dress code.

One final consideration, with respect to energy cost, is the power supply of the rig. We used 80 Plus Platinum (I don't think Titanium were available... cannot recall) rated power supplies. More efficiency = lower cost. I would use a minimum of a Platinum power supply.

Just my .0000005 BTC from one who has done it....


Heat is exactly why I usually only mine during the cold Minnesota winters. I call it mining season. It could also be why there is a Cray (super computer) site in Minnesota too. All they would have to do is just open the window and save on heating costs.

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  #28 (permalink)
 
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Vale Zaragoza View Post
Hello!
What do you think about AMD Radeon RX 5700 XT?

I read on videocardz.com that the upcoming GeForce RTX 3060 could hit the market with significant limitations for cryptocurrency mining, it was cited that its hash rate dropped by half.

Not who you quoted, but I can speak a little on 5700s.

2 of my cards are 5700's - one is an XT the other not. You can bios mod the non-XT ones to basically make them the same specs as XT. Both of mine get basically the same hash rate after bios modding.

Personally I'm a fan, I'd rather run 1 5700 than 2 580s, frees up a slot and close to the same hash rate. Sucks all cards are basically double the price they were last summer now, really wish I had put more into the rigs at that time.

5700s come in different shapes and sizes, one of mine is a 2 fan MSI one, the other a 3 fan Red Devil and its huge in size, if that's a consideration.

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  #29 (permalink)
 
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vmodus View Post
There is at least a set of two power costs:
  1. Electricity to run the rigs
  2. Electricity to cool the house/office
I am not an engineer, but there is a ton of thermal exchange that you have to deal with (I am sure @lexknight has noticed the warmth ). You have to do something with that heat, or you are going to shorten the life (and profitability) of your equipment.

Definitely throws off some heat, I've got additional fans now not pictured to keep it running cooler and also take advantage of the heat, spread it around the place. Living in Canada it's been a pro all winter for sure. Summer wasn't too bad, just a few windows open. I thought about setting up a few more rigs and the heat is definitely a huge consideration though. The fans also have been something to think about, nice to have them blowing but creates enough noise that it's noticeable and moderately annoying.

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  #30 (permalink)
 Sk8ter 
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lexknight View Post
Definitely throws off some heat, I've got additional fans now not pictured to keep it running cooler and also take advantage of the heat, spread it around the place. Living in Canada it's been a pro all winter for sure. Summer wasn't too bad, just a few windows open. I thought about setting up a few more rigs and the heat is definitely a huge consideration though. The fans also have been something to think about, nice to have them blowing but creates enough noise that it's noticeable and moderately annoying.

thought about mining but given the electricity rates here I didn't think it would be profitable. How have you found it in your area?

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