Cryptocurrency Mining

Gtx Gaming said:
1070 uses a 100watt and not 250watt.

They make 28mh even more when overclocked.

My heavy overclocked 1070s do 31mh each and uses about 160watt.
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Archer said:
Hashrate should be 28+ for a GTX1070 mining eth, power should be under 150w since that is the max tdp of the card (I recall seeing as low as 90w though with the right tweaks)
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Using this the profit improves to R 6 554.18. Power seems to be the heaviest deciding factor of profits...
 
Archer said:
RX570 costs R3100?
But a card in stock doing something is better than no card doing nothing :p
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I might be wrong but I think I remember the Gigabyte RX 570 being R3199 when there was stock.

People must be so mad, the RX 470 and RX 480's sold for peanuts the two weeks/month before the 5xx launched.
 
Archer said:
RX570 costs R3100?
But a card in stock doing something is better than no card doing nothing :p
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That's my logic as well. Right now, I have two R9 270's (I think) doing R1 600 per month mining using the Equihash algorithm (I can't mine Dagger-Hash because the cards only have 2Gigs of memory each). I already had them so it din't cost me a cent.

After weeks of looking around trying to find the AMD 4xx and 5xx cards, I also went Nvidia last week. So I'll leave the above PC as is and it will mine to cover my electricity, which shouldn't be more than R500 anyway. So I'm aiming at pure profit coming in from the Nvidia mining rig + R1100 (current profit).
 
Pitbull said:
Right, so I did a few calculations. *Please correct me if I'm wrong*

Working out the profitability on running a rig with 4x GTX 1070s

Hashrate - 25 (each) x 4
Power consumption - 250w (each) x 4 = 1kwh
1kwh = R 2.00 (prepaid) give or take a few cents
Current ethereum price - $ 169.69
Rand/Dollar 12.92

So using: https://www.cryptocompare.com/minin...it=MH/s&PowerConsumption=1000&CostPerkWh=0.15

Looking at a profit daily of: $12.10

R 156.33 per day profit or R 4 689.96 per month
Depending on the price fluctuations ofc.

Not a bad deal, right?
Will be farming about 0.09250 eth per day.

Anything I might have missed?
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Power rate is half that, you Downvolt the 1070s
 
Pitbull said:
Power consumption - 250w (each) x 4 = 1kwh
1kwh = R 2.00 (prepaid) give or take a few cents
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We are also on prepaid electricity (Conlog). Cost is flat at R1.983 / kWh (effective rate, when including commission taken by FNB when buying using FNB online banking).

I had a look at Eskom prices: http://www.eskom.co.za/CustomerCare/TariffsAndCharges/Pages/Tariffs_And_Charges.aspx

Does anybody know where non-commercial consumption would fall ?

I'm assuming Eskom provides at these rates and the third parties then surcharges.

However it works, it is noteworthy there are high demand and low demand seasons, and peak,standard and off peak for each season. Conventional electricity meters do not have clocks (AFAIK) so there must be algorithms for averages or something to that effect and prepaid electricity seems to be at fixed flat rates (in my and Pitbull's case at least) and my guess is that they simply programmed in the highest or one of the highest rates.
 
Thor187 said:
Power rate is half that, you Downvolt the 1070s
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Yea, got that from Yingyang too iirc.

That together with the increased hashrate gives about R 6.5k per month profit.
Building a machine to that spec will cost about R 42 000. so ROI if all stays the same will be 6.46 months. I was planning on a 12 month plan. So 5.5 months of pure profit once the investment has been recuperated. Worse case scenario it will take double that which is still below my 12 months point.

I can't see Ethereum dropping below $85 now with all the hype and companies buying into the block chain. I think latest ones were Toyota and Samsung. Also it being JAVA it seems to be the chain block of choice for new developers.
 
etienne_marais said:
We are also on prepaid electricity (Conlog). Cost is flat at R1.983 / kWh (effective rate, when including commission taken by FNB when buying using FNB online banking).

I had a look at Eskom prices: http://www.eskom.co.za/CustomerCare/TariffsAndCharges/Pages/Tariffs_And_Charges.aspx

Does anybody know where non-commercial consumption would fall ?

I'm assuming Eskom provides at these rates and the third parties then surcharges.

However it works, it is noteworthy there are high demand and low demand seasons, and peak,standard and off peak for each season. Conventional electricity meters do not have clocks (AFAIK) so there must be algorithms for averages or something to that effect and prepaid electricity seems to be at fixed flat rates (in my and Pitbull's case at least) and my guess is that they simply programmed in the highest or one of the highest rates.
Click to expand...

When we buy we normally pay around R 1.80 - R 2.10 per unit which is 1 unit (1unit = 1000 watts). You can morally see it on your receipt or work it out when you get the units vs what you paid.
 
Pitbull said:
When we buy we normally pay around R 1.80 - R 2.10 per unit which is 1 unit (1unit = 1000 watts). You can morally see it on your receipt or work it out when you get the units vs what you paid.
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Yup, that's how I do it (including commission to get to the effective rate it's costing per kWh), currently buying through FNB online banking. An engineer told me their approach seems to be illegal (charging a high flat rate) as opposed to reflecting actual usage rates or at least working with an averaging algorithm.
 
Got 6x 1060's working with Linux at the moment, cant seem to change fan settings except with gpu0 using coolbits. Going to try Windows again.
 
I am seeing an estate agent in a hours time about a office space in paarl, I want to use it for mining. Hopefully it works out.

I get charged quite a bit for electricity, as I have sub meter running from the main house to my cottage. I only get 200 units for cheap as the main house has 3-phase power, and the 600 cheap units are spilt between the 3 phases.

I pay R2.2 per unit after the first 200 units, this for with direct eft to the company with fnb it is R2.34 a unit.
 
Gtx Gaming said:
I am seeing an estate agent in a hours time about a office space in paarl, I want to use it for mining. Hopefully it works out.
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That sounds risky, unless the contract is not overly binding and you have the capital to stay on top of the technology demand increase. Perhaps you will be our first cloud provider :)
 
etienne_marais said:
That sounds risky, unless the contract is not overly binding and you have the capital to stay on top of the technology demand increase. Perhaps you will be our first cloud provider :)
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Indeed the plan is to have my rigs running and rent 1 "spot" to someone else for mining also.
 
My effective rate is going to be around R1.82 (taking into account ebucks rewards)
With the new CoCT rates since I'm mining at home and would pay the daily connection fees anyway this will drop substantially.
 
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