We started mining cryptocurrency again

Sensorei said:
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
Click to expand...
Would you mind detailing your setup?
 
Sensorei said:
If only. R185K at current prices. I paid R145K. A decent RTX 3080 is minimum R23K to R28K now.
Click to expand...
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.
 
@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?
 
jakes23 said:
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.
Click to expand...
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.

jakes23 said:
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?
Click to expand...
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.

jakes23 said:
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?
Click to expand...
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.
 
Sensorei said:
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
Click to expand...
What type of rig do you have? What was your investment cost?
 
Sensorei said:
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.
Click to expand...
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.
 

Attachments

  • 1616412487780.png
    1616412487780.png
    22.3 KB · Views: 21
Last edited:
w1z4rd said:
How does the tax work for mining rigs?
Click to expand...
LOL.
jakes23 said:
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.
Click to expand...
You need to measure your lag to the specific mining pool server you're using.
 
Sensorei said:
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.
Click to expand...
Is the switch to PoS likely to happen soon? I would assume it is a concern for any new miners?
 
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
 
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?
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X