ETH mining 101
Discussion
I'm still mulling over the mining idea and also been looking at some guides on YouTube for basics such as assembly, software etc. to get an idea of what's involved.
I know one could get an old computer and mine on that with maybe one or two GPUs but i'm trying to work out the cost of a dedicated rig, would you say the below is accurate?
Motherboard - not easy to get hold of it would appear. Roughly around £200 - Asus B250 is the one to get if possible. Are these going for much more?
PSU - £150-200 for 1000W (EVGA brand seem to be widely used)
RAM - 8gb should be sufficient and not much more than £30
HD - 128gb SSD will suffice - £20.
Processor - As cheap as possible - Celeron ~£50
Misc costs - cables, thermal paste, power switch, network card (if Mobo hasn't got or need wireless), mining software, heatsink + any extras - £100
Risers - £6 each
Mining frame - about £60. Building own can be done but need equipment / tools.
GPU - £250-300 for an RX 570 / 580 8gb.
The real cost and tricky part is getting GPUs. If we start with 10 of the above that's going to be £2.5k (probably more). Hash rate is around 32/card and uses 135w. So for the 10 GPUs it will be 320Mh/s and 1350w which I guess means 2 PSUs will be required. At a rate of 6.7p/hash the rig will generate £21.44 revenue / day.
Cost: £3420 but may end up more/less depending on cost of sourcing things.
£3420/£21.44 = 160 days to break-even (not including electricity).
Am I missing anything off the list? Is the above unrealistic prices? There may be some cooling solutions which are needed, running costs of course to add on to the bill.
Eth prices fluctuate so revenue could be more or less. Not to mention PoS coming in potentially in next 6 months so will have to consider next steps for that scenario.
I know one could get an old computer and mine on that with maybe one or two GPUs but i'm trying to work out the cost of a dedicated rig, would you say the below is accurate?
Motherboard - not easy to get hold of it would appear. Roughly around £200 - Asus B250 is the one to get if possible. Are these going for much more?
PSU - £150-200 for 1000W (EVGA brand seem to be widely used)
RAM - 8gb should be sufficient and not much more than £30
HD - 128gb SSD will suffice - £20.
Processor - As cheap as possible - Celeron ~£50
Misc costs - cables, thermal paste, power switch, network card (if Mobo hasn't got or need wireless), mining software, heatsink + any extras - £100
Risers - £6 each
Mining frame - about £60. Building own can be done but need equipment / tools.
GPU - £250-300 for an RX 570 / 580 8gb.
The real cost and tricky part is getting GPUs. If we start with 10 of the above that's going to be £2.5k (probably more). Hash rate is around 32/card and uses 135w. So for the 10 GPUs it will be 320Mh/s and 1350w which I guess means 2 PSUs will be required. At a rate of 6.7p/hash the rig will generate £21.44 revenue / day.
Cost: £3420 but may end up more/less depending on cost of sourcing things.
£3420/£21.44 = 160 days to break-even (not including electricity).
Am I missing anything off the list? Is the above unrealistic prices? There may be some cooling solutions which are needed, running costs of course to add on to the bill.
Eth prices fluctuate so revenue could be more or less. Not to mention PoS coming in potentially in next 6 months so will have to consider next steps for that scenario.
g4ry13 said:
I'm still mulling over the mining idea and also been looking at some guides on YouTube for basics such as assembly, software etc.
I know one could get an old computer and mine on that with maybe one or two GPUs but i'm trying to work out the cost of a rig, would you say the below is accurate?
Motherboard - not easy to get hold of it would appear. Roughly around £200 - Asus B250 is the one to get if possible. Are these going for much more?
PSU - £150-200 for 1000W (EVGA brand seem to be widely used)
RAM - 8gb should be sufficient and not much more than £30
HD - 128gb SSD will suffice - £20.
Processor - As cheap as possible - Celeron ~£50
Misc costs - cables, thermal paste, power switch, network card (if Mobo hasn't got or need wireless), heatsink + any extras - £100
Risers - £6 each
Mining frame - about £60. Building own can be done but need equipment / tools.
GPU - £250-300 for an RX 570 / 580 8gb.
The real cost and tricky part is getting GPUs. If we start with 10 of the above that's going to be £2.5k (probably more). Hash rate is around 32/card and uses 135w. So for the 10 GPUs it will be 320Mh/s and 1350w which I guess means 2 PSUs will be required. At a rate of 6.7p/hash the rig will generate £21.44 revenue / day.
Cost: £3420 but may end up more/less depending on cost of sourcing things.
£3420/£21.44 = 160 days to break-even (not including electricity).
Am I missing anything off the list? Is the above unrealistic prices? There may be some cooling solutions which are needed, running costs of course to add on to the bill.
Eth prices fluctuate so revenue could be more or less. Not to mention PoS coming in potentially in next 6 months so will have to consider next steps for that scenario.
At approx. 16p kW/hr @ 1350w you are looking at about a fiver per day electric costs. So, net earnings are £16/day which gives you a payback of 270days before you start making a profit. I know one could get an old computer and mine on that with maybe one or two GPUs but i'm trying to work out the cost of a rig, would you say the below is accurate?
Motherboard - not easy to get hold of it would appear. Roughly around £200 - Asus B250 is the one to get if possible. Are these going for much more?
PSU - £150-200 for 1000W (EVGA brand seem to be widely used)
RAM - 8gb should be sufficient and not much more than £30
HD - 128gb SSD will suffice - £20.
Processor - As cheap as possible - Celeron ~£50
Misc costs - cables, thermal paste, power switch, network card (if Mobo hasn't got or need wireless), heatsink + any extras - £100
Risers - £6 each
Mining frame - about £60. Building own can be done but need equipment / tools.
GPU - £250-300 for an RX 570 / 580 8gb.
The real cost and tricky part is getting GPUs. If we start with 10 of the above that's going to be £2.5k (probably more). Hash rate is around 32/card and uses 135w. So for the 10 GPUs it will be 320Mh/s and 1350w which I guess means 2 PSUs will be required. At a rate of 6.7p/hash the rig will generate £21.44 revenue / day.
Cost: £3420 but may end up more/less depending on cost of sourcing things.
£3420/£21.44 = 160 days to break-even (not including electricity).
Am I missing anything off the list? Is the above unrealistic prices? There may be some cooling solutions which are needed, running costs of course to add on to the bill.
Eth prices fluctuate so revenue could be more or less. Not to mention PoS coming in potentially in next 6 months so will have to consider next steps for that scenario.
stevesingo said:
g4ry13 said:
I'm still mulling over the mining idea and also been looking at some guides on YouTube for basics such as assembly, software etc.
I know one could get an old computer and mine on that with maybe one or two GPUs but i'm trying to work out the cost of a rig, would you say the below is accurate?
Motherboard - not easy to get hold of it would appear. Roughly around £200 - Asus B250 is the one to get if possible. Are these going for much more?
PSU - £150-200 for 1000W (EVGA brand seem to be widely used)
RAM - 8gb should be sufficient and not much more than £30
HD - 128gb SSD will suffice - £20.
Processor - As cheap as possible - Celeron ~£50
Misc costs - cables, thermal paste, power switch, network card (if Mobo hasn't got or need wireless), heatsink + any extras - £100
Risers - £6 each
Mining frame - about £60. Building own can be done but need equipment / tools.
GPU - £250-300 for an RX 570 / 580 8gb.
The real cost and tricky part is getting GPUs. If we start with 10 of the above that's going to be £2.5k (probably more). Hash rate is around 32/card and uses 135w. So for the 10 GPUs it will be 320Mh/s and 1350w which I guess means 2 PSUs will be required. At a rate of 6.7p/hash the rig will generate £21.44 revenue / day.
Cost: £3420 but may end up more/less depending on cost of sourcing things.
£3420/£21.44 = 160 days to break-even (not including electricity).
Am I missing anything off the list? Is the above unrealistic prices? There may be some cooling solutions which are needed, running costs of course to add on to the bill.
Eth prices fluctuate so revenue could be more or less. Not to mention PoS coming in potentially in next 6 months so will have to consider next steps for that scenario.
At approx. 16p kW/hr @ 1350w you are looking at about a fiver per day electric costs. So, net earnings are £16/day which gives you a payback of 270days before you start making a profit. I know one could get an old computer and mine on that with maybe one or two GPUs but i'm trying to work out the cost of a rig, would you say the below is accurate?
Motherboard - not easy to get hold of it would appear. Roughly around £200 - Asus B250 is the one to get if possible. Are these going for much more?
PSU - £150-200 for 1000W (EVGA brand seem to be widely used)
RAM - 8gb should be sufficient and not much more than £30
HD - 128gb SSD will suffice - £20.
Processor - As cheap as possible - Celeron ~£50
Misc costs - cables, thermal paste, power switch, network card (if Mobo hasn't got or need wireless), heatsink + any extras - £100
Risers - £6 each
Mining frame - about £60. Building own can be done but need equipment / tools.
GPU - £250-300 for an RX 570 / 580 8gb.
The real cost and tricky part is getting GPUs. If we start with 10 of the above that's going to be £2.5k (probably more). Hash rate is around 32/card and uses 135w. So for the 10 GPUs it will be 320Mh/s and 1350w which I guess means 2 PSUs will be required. At a rate of 6.7p/hash the rig will generate £21.44 revenue / day.
Cost: £3420 but may end up more/less depending on cost of sourcing things.
£3420/£21.44 = 160 days to break-even (not including electricity).
Am I missing anything off the list? Is the above unrealistic prices? There may be some cooling solutions which are needed, running costs of course to add on to the bill.
Eth prices fluctuate so revenue could be more or less. Not to mention PoS coming in potentially in next 6 months so will have to consider next steps for that scenario.
But if i'm on track, the numbers aren't really adding up for the risk.
Exactly. Things aren't looking rosy right now as difficulty is almost always going up and the move to PoS is permanently on the horizon, if not exactly imminent.
Unless you are incredibly bullish on crypto I'm not sure I'd be dumping £2-3k on a rig right now, especially if that's not play money for you.
Unless you are incredibly bullish on crypto I'm not sure I'd be dumping £2-3k on a rig right now, especially if that's not play money for you.
Some of your costs are a bit high but it doesn’t really make sense in buying all new components and then using 2nd hand GPUs.
You could buy the GPUs and put them in old PCs with splitters like these. https://www.ebay.co.uk/itm/In-Stock-PCIe-1-to-4-PC...
Granted you’ll still need risers and multiple PSUs or one mega one (they do a 1600w one I think).
I have one rig built this way (an old PC and multiple GPUs running off splitters) and it was far easier to set up than making a full rig, especially if you have old PCs knocking around which I think you said you had?
You could buy the GPUs and put them in old PCs with splitters like these. https://www.ebay.co.uk/itm/In-Stock-PCIe-1-to-4-PC...
Granted you’ll still need risers and multiple PSUs or one mega one (they do a 1600w one I think).
I have one rig built this way (an old PC and multiple GPUs running off splitters) and it was far easier to set up than making a full rig, especially if you have old PCs knocking around which I think you said you had?
audi321 said:
Some of your costs are a bit high but it doesn’t really make sense in buying all new components and then using 2nd hand GPUs.
You could buy the GPUs and put them in old PCs with splitters like these. https://www.ebay.co.uk/itm/In-Stock-PCIe-1-to-4-PC...
Granted you’ll still need risers and multiple PSUs or one mega one (they do a 1600w one I think).
I have one rig built this way (an old PC and multiple GPUs running off splitters) and it was far easier to set up than making a full rig, especially if you have old PCs knocking around which I think you said you had?
I did not think the new hardware would be much more than the second hand (may be completely wrong there!) RAM / hard drives etc. so cheap brand new. The expensive bits seem to mainly be motherboard, PSU, GPUs. You could buy the GPUs and put them in old PCs with splitters like these. https://www.ebay.co.uk/itm/In-Stock-PCIe-1-to-4-PC...
Granted you’ll still need risers and multiple PSUs or one mega one (they do a 1600w one I think).
I have one rig built this way (an old PC and multiple GPUs running off splitters) and it was far easier to set up than making a full rig, especially if you have old PCs knocking around which I think you said you had?
I have an old Dell knocking about, it's from the Windows XP era so it's probably got a basic Pentium 4, maybe a 1 or 2 gb RAM. I don't have access to it at the moment but I may be able to salvage the motherboard, processor and potentially the PSU. I'm guessing the PSU would not be up to powering a rig. A basic Pentium 4 would be enough to mine on?
If I got something like the ebay link that would enable 4 GPUs to go into one PCIe? Not sure how many ports there are, but this sounds like a good way to be able to hook up extra GPUs to one of the monster mining rig motherboards?
g4ry13 said:
I did not think the new hardware would be much more than the second hand (may be completely wrong there!) RAM / hard drives etc. so cheap brand new. The expensive bits seem to mainly be motherboard, PSU, GPUs.
I have an old Dell knocking about, it's from the Windows XP era so it's probably got a basic Pentium 4, maybe a 1 or 2 gb RAM. I don't have access to it at the moment but I may be able to salvage the motherboard, processor and potentially the PSU. I'm guessing the PSU would not be up to powering a rig. A basic Pentium 4 would be enough to mine on?
If I got something like the ebay link that would enable 4 GPUs to go into one PCIe? Not sure how many ports there are, but this sounds like a good way to be able to hook up extra GPUs to one of the monster mining rig motherboards?
You need to consider how many lanes the CPU can support too.I have an old Dell knocking about, it's from the Windows XP era so it's probably got a basic Pentium 4, maybe a 1 or 2 gb RAM. I don't have access to it at the moment but I may be able to salvage the motherboard, processor and potentially the PSU. I'm guessing the PSU would not be up to powering a rig. A basic Pentium 4 would be enough to mine on?
If I got something like the ebay link that would enable 4 GPUs to go into one PCIe? Not sure how many ports there are, but this sounds like a good way to be able to hook up extra GPUs to one of the monster mining rig motherboards?
The 1 > 4 splitters do work but can be tempremental. All mining is a bit tempremental so just keep in mind this will make it possibly even more of a pain.
g4ry13 said:
The real cost and tricky part is getting GPUs. If we start with 10 of the above that's going to be £2.5k (probably more). Hash rate is around 32/card and uses 135w. So for the 10 GPUs it will be 320Mh/s and 1350w which I guess means 2 PSUs will be required. At a rate of 6.7p/hash the rig will generate £21.44 revenue / day.
I run 850 mh/s and my revenue is €45 per day mining for Ethermine pool. Pro rata that is €16 per day for your 320mhs. £13.70 ish.audi321 said:
I wouldn’t go by these online calculators too much.
I have almost exactly 1000 MH/s and I get a payout of 0.1eth roughly every 100 hours. So that’s £240 divided by 4.16 is £57.60 a day.
The same calculation on this online calculator says $66.60 a day (£48.77)
My last 0.1 eth payouts took:I have almost exactly 1000 MH/s and I get a payout of 0.1eth roughly every 100 hours. So that’s £240 divided by 4.16 is £57.60 a day.
The same calculation on this online calculator says $66.60 a day (£48.77)
138.5hrs
111.6hrs
133.7hrs
126.5hrs
173.2hrs
125.4hrs
130.1hrs
Depending on the value of eth at that time a calc could be done, but like you I mainly just concentrate on when am I getting my 0.1
Do you feel any hunger to expand your rigs of have you settled with your current setup, a bit like I have?
Cheers
RW
Yeah my fastest payout recently was 72 hours and the longest 120 (average is actually around 95).
Last year I set my head on getting to the 1 g/h figure (then getting my outlay money back) and I don’t really have any thoughts to go any higher.
Because of the problems of getting GPUs, I lost interest in building the rigs and ran out of components knocking around, so I think I’ll stick with what I’ve got for now.
Last year I set my head on getting to the 1 g/h figure (then getting my outlay money back) and I don’t really have any thoughts to go any higher.
Because of the problems of getting GPUs, I lost interest in building the rigs and ran out of components knocking around, so I think I’ll stick with what I’ve got for now.
g4ry13 said:
How many rigs / GPUs are you currently running?
4 machines and 11 GPUGaming pc - 3090 & 2080ti watercooled
2nd pc - 3070 air cooled, 2 x 2080ti watercooled
3rd pc -- 4x2080ti watercooled
4th pc - 2 x 3090 air cooled.
Not the most efficient way of doing it but I enjoy building pcs so it was a fun project.
audi321 said:
I wouldn’t go by these online calculators too much.
I have almost exactly 1000 MH/s and I get a payout of 0.1eth roughly every 100 hours. So that’s £240 divided by 4.16 is £57.60 a day.
The same calculation on this online calculator says $66.60 a day (£48.77)
It's not really a calculator if it's taken directly from the pool though. Things vary day to day, but you need to use something for your sums.I have almost exactly 1000 MH/s and I get a payout of 0.1eth roughly every 100 hours. So that’s £240 divided by 4.16 is £57.60 a day.
The same calculation on this online calculator says $66.60 a day (£48.77)
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