We started mining cryptocurrency again

hj007

Expert Member
Joined
Aug 30, 2006
Messages
1,240
My rig will be paid of after just over 4 months mining. But I did hunt for the best prices when I built it.

I get a daily projection of my estimated earnings based on my hashrate and the network demand. Some mining pools pay out daily, and some pay out when you have mined a minimum target amount.

My pool pays out every 0.1 Ethereum mined. It is very profitable now if you got your cards at a 'normal price' as you can see from my pic, but that could change at any time if the market crashes.

Electricity cost measured last month for the rig was R3420.

View attachment 1037246
Would you mind detailing your setup?
 

hj007

Expert Member
Joined
Aug 30, 2006
Messages
1,240
If only. R185K at current prices. I paid R145K. A decent RTX 3080 is minimum R23K to R28K now.
Guess no-one is going to the US anytime soon either to buy it for lower prices. Not that they seem to have any available stock anyway.
 

jakes23

New Member
Joined
May 27, 2016
Messages
5
@Sensorei
I'm looking at entering mining now. Would you mind answering some questions or perhaps point me to some worthwhile blog posts? I'm completely new.

On the mining side, the two options I'm considering are:
  1. Ether mining (Presumably the best tool here is Ethermine)
  2. Nicehash, looking at most profitable pool and joining that.
I'm obviously looking to join the scheme that offers the best profitability.

The biggest risk that I see in joining now is that the crypto prices fall within 2-3months.
Could mining still be profitable if Ethereum prices halved?

The hardware I'm considering is:
Asus B250 mining mb
Corsair RM850X (depending on number of cards)
With 2-4 Radeon 5700XT and Nvidia 3060s. (With the intention to scale if profitability continues)

  • How difficult is it to combine nvidia and radeon?
  • How difficult is it to get a good hash rate from the 3060 that has the limiter?
  • Any comments on this setup?
 

Sensorei

Executive Member
Joined
Sep 15, 2008
Messages
5,885
On the mining side, the two options I'm considering are:
  1. Ether mining (Presumably the best tool here is Ethermine)
  2. Nicehash, looking at most profitable pool and joining that.
I'm obviously looking to join the scheme that offers the best profitability.
A major issue we we have affecting this in Africa is the latency and lag to mining pools overseas. Lag reduces mining profitably. Use https://minerstat.com/mining-calculator to check current profitability from each pool and then check latency. I switch between HiveOn, Poolin and Binance for the best profits.

The biggest risk that I see in joining now is that the crypto prices fall within 2-3months.
Could mining still be profitable if Ethereum prices halved?
I don't think it would be worthwhile with the current prices of GPUs unless you get bargains or 2nd hand. Too risky. It could take 9 months or more to pay off a rig like mine instead of 4 months when I bought it.

The hardware I'm considering is:
Asus B250 mining mb
Corsair RM850X (depending on number of cards)
With 2-4 Radeon 5700XT and Nvidia 3060s. (With the intention to scale if profitability continues)

  • How difficult is it to combine nvidia and radeon?
  • How difficult is it to get a good hash rate from the 3060 that has the limiter?
  • Any comments on this setup?
With Asus B250 you can mix any 13 cards, but slots 14-19 must be Nvidia P series mining GPUs. I use MSI B360-F Pro - Any 19 GPUs supported.

3060 can only be used in the main PCI-E x16 slot and wont work on a riser card, plus it only works on Nvidia v470.05 Windows drivers. You're looking at 48MH/s stable.

5700XT and 3060Ti offer the best ROI.

HiveOS (Linux) is way better than Window for mining.
 

w1z4rd

Karmic Sangoma
Joined
Jan 17, 2005
Messages
48,949
My rig will be paid of after just over 4 months mining. But I did hunt for the best prices when I built it.

I get a daily projection of my estimated earnings based on my hashrate and the network demand. Some mining pools pay out daily, and some pay out when you have mined a minimum target amount.

My pool pays out every 0.1 Ethereum mined. It is very profitable now if you got your cards at a 'normal price' as you can see from my pic, but that could change at any time if the market crashes.

Electricity cost measured last month for the rig was R3420.

View attachment 1037246
What type of rig do you have? What was your investment cost?
 

jakes23

New Member
Joined
May 27, 2016
Messages
5
A major issue we we have affecting this in Africa is the latency and lag to mining pools overseas. Lag reduces mining profitably. Use https://minerstat.com/mining-calculator to check current profitability from each pool and then check latency. I switch between HiveOn, Poolin and Binance for the best profits.


I don't think it would be worthwhile with the current prices of GPUs unless you get bargains or 2nd hand. Too risky. It could take 9 months or more to pay off a rig like mine instead of 4 months when I bought it.


With Asus B250 you can mix any 13 cards, but slots 14-19 must be Nvidia P series mining GPUs. I use MSI B360-F Pro - Any 19 GPUs supported.

3060 can only be used in the main PCI-E x16 slot and wont work on a riser card, plus it only works on Nvidia v470.05 Windows drivers. You're looking at 48MH/s stable.

5700XT and 3060Ti offer the best ROI.

HiveOS (Linux) is way better than Window for mining.
Thanks for the detailed answer! Appreciate it>

Update:
What kind of efficiency loss do you experience with latency? Are we talking 5% / 10% or more? I'm on a LTE-A package which is not the best for latency.

Pinging google UK I get a response time of around 60ms.
 

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RedViking

Nord of the South
Joined
Feb 23, 2012
Messages
40,149
In other words... we are making it even more difficult for you to get a GPU and driving the prices up further.
 

Sensorei

Executive Member
Joined
Sep 15, 2008
Messages
5,885
How does the tax work for mining rigs?
LOL.
Thanks for the detailed answer! Appreciate it>

Update:
What kind of efficiency loss do you experience with latency? Are we talking 5% / 10% or more? I'm on a LTE-A package which is not the best for latency.

Pinging google UK I get a response time of around 60ms.
You need to measure your lag to the specific mining pool server you're using.
 

hj007

Expert Member
Joined
Aug 30, 2006
Messages
1,240
A major issue we we have affecting this in Africa is the latency and lag to mining pools overseas. Lag reduces mining profitably. Use https://minerstat.com/mining-calculator to check current profitability from each pool and then check latency. I switch between HiveOn, Poolin and Binance for the best profits.


I don't think it would be worthwhile with the current prices of GPUs unless you get bargains or 2nd hand. Too risky. It could take 9 months or more to pay off a rig like mine instead of 4 months when I bought it.


With Asus B250 you can mix any 13 cards, but slots 14-19 must be Nvidia P series mining GPUs. I use MSI B360-F Pro - Any 19 GPUs supported.

3060 can only be used in the main PCI-E x16 slot and wont work on a riser card, plus it only works on Nvidia v470.05 Windows drivers. You're looking at 48MH/s stable.

5700XT and 3060Ti offer the best ROI.

HiveOS (Linux) is way better than Window for mining.
Is the switch to PoS likely to happen soon? I would assume it is a concern for any new miners?
 

w1z4rd

Karmic Sangoma
Joined
Jan 17, 2005
Messages
48,949
Anyone know where to purchase graphic cards from?

Sent wootware a request for pricing for 10x cards and they seem too busy to respond :D
 

w1z4rd

Karmic Sangoma
Joined
Jan 17, 2005
Messages
48,949
Okay, finally got a supplier for the stuff I need to get an 8 card mining rig going.

Just a question regarding using HiveOS. There is a small drop in performance compared to a windows machine, so is it worthwhile going that way? Or keep it simple, windows 10 with nicehash?
 
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