We started mining cryptocurrency again

[Jamie McKane]

We started mining cryptocurrency again

Thanks to the gains in the Bitcoin price over the past several months, it has once again become popular to mine cryptocurrencies using graphics cards.

Like in the cryptocurrency bull run of 2017, this has contributed to a global shortage in high-end graphics hardware.

 

[McGuywer]

And also loadshedding. That does not help at all.

 

[dualmeister]

Mining starts again ... Eskom starts load shedding

 

[RandomGeek]

Remember to invest your crypto riches that you get from mining into MTI @Jan

 

[Jet-Fighter7700]

Mining starts again ... Eskom starts load shedding

this,

also, to generate any kind of reasonable returns, you need a data centre.

 

[dualmeister]

this,

also, to generate any kind of reasonable returns, you need a data centre.

Reminds me of this guy.

Airport employee in Italy caught mining Ethereum at work

The suspect, who worked at the airport in the Italian city of Lamezia Terme, allegedly installed mining malware onto the airport's IT systems.

coingeek.com

 

[JohnStarr]

this,

also, to generate any kind of reasonable returns, you need a data centre.

...this increase in BTC was simply an excuse for a repeat article. Until it dies and we get an article on how they stopped. And then it increases again and it goes up.
Professionals apparently continue mining through the dips.

 

[HavocXphere]

Yeah it does work out well...if you use existing gear. Or you can use the heat meaningfully.

Buying cards for it now is insane though

simply an excuse for a repeat article

In fairness this is a pretty thorough in depth article.

 

[Zen17h]

Yeah it does work out well...if you use existing gear. Or you can use the heat meaningfully.

Has anyone tried a combination pot/crypto farm?

 

[livw88]

Guess who's not getting that new GPU this year... everyone

 

[Sensorei]

I bought 10 GPUs in Jan and a couple early Feb and could resell them now with a 50% markup. It's crazy.

 

[cyb3rt]

Not bad I guess. When I started mining with 6 x 1070's in 2017, they were pumping out about R3k a day. It was short lived tho as the difficulty increased. I got it just before the whole craze hit so made a good buck those first couple of weeks.

I ended up with 6 x 1070's, and 12 x 1080Ti cards running for about a year in total.

 

[I.am.Sam]

So whats the cost to set up a rig

and after how long will you be seeing profits ?

 

[Snyper564]

So whats the cost to set up a rig

and after how long will you be seeing profits ?

Honestly dont even bother - 2017 was difficult enough, if you havent got the equipment yet or 100K plus dont bother, just buy coins and hold.

GPU second hand are almost 25-50% more than new, because new is almost non-existent.

 

[I.am.Sam]

Honestly dont even bother - 2017 was difficult enough, if you havent got the equipment yet or 100K plus dont bother, just buy coins and hold.

GPU second hand are almost 25-50% more than new, because new is almost non-existent.

i dont know about buying now

i bought when it was still in the double digits and then around 170k

now the % wont be the same as before

but yeah whats the return though if you do start up ?

 

[Snyper564]

i dont know about buying now

i bought when it was still in the double digits and then around 170k

now the % wont be the same as before

but yeah whats the return though if you do start up ?

@warrenpridgeon could maybe shed some light here

 

[hj007]

what about if you have excess electricity generated from all those solar installation articles you've been writing about? If you have free electricity is it worth it?

 

[Smokey mcpot]

what about if you have excess electricity generated from all those solar installation articles you've been writing about? If you have free electricity is it worth it?

Would be nice to know.

I actually wondered if there are people in townships with illegal connections who are mining. Their profits would be way more than the regular miner paying for electricity.

Edit: please don’t come and say I’m being racist

 

[Creag]

Good article. I enjoyed the read.

 

[Sensorei]

So whats the cost to set up a rig

and after how long will you be seeing profits ?

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.