People are spending thousands on mining rigs, but what is the realistic return on capital as of July 2017.
I just finished putting together my 6x GTX 1070 mining rig.. for the rest of the pieces feel more than free to ask me or check out my previous blog post about my rig setup here:
I was getting approx 161 gh mining ether
and 6700 sos on zcash .. to what I thought were decent numbers: on the contrary.
From previous blog posts and research I have done I was expecting to turn a profit on this rig anywhere between 1000-1500$ after power costs and overclocking.
Boy was I shocked at the random problems I faced putting this thing together as a relative hardware noob on a side note and I ended up using ETH OS which I had just found out as of July 4th actually supports NVIDIA CARDS!!!! I was thrilled, I thought that hard drive would end up being for a future rig, but the tables reversed.. I couldn't figure out how to boot windows on my ASROCK motherboard interface..
Just another pic of hardware etc.
Anyways.
After many trials and tribulations also from the ETH OS operating system. Which in general is kind of easy to use but if you mess something up by accident is hard to recover from.
Thankfully I was able to switch the miner from Ether to z-cash successfully.. tried both and viewed the stats on the pools I was mining from.
From the default Ether pool it comes with it calculated that month to month I would be making approx. 300$ mo. in ether.
PITIFUL! I couldn't believe this number especially after what I read. I understand this may not be the most popular or successful pool but I ask and write on steemit for help as much as I am as a form of research unto others.
Then after seeing that number I thought I'd better try my luck with z-cash which is also now supported by NVIDIA cards on ethics's OS I will explain further in a new post I'm going to write but it will work.
Switched to z-cash.. got all happy when it worked. Be sure to stop mining before making these changes, then restart.
Then a few hours later I looked at the stats on this new pool which also had a built in calculator.
50$.
They projected me to make 50$ in z cash in one whole month. I triple taked the screen lol.
Its baffling to me that these numbers have become so outrageously low.
Once again I could be in the wrong or unpopular pool, this one being nano pool this time.. I don't know!
I mean I bought the thing and worst comes to worst have a sick gaming computer if nothing works out but one of my last resorts will be to use what's called the claymore miner in eth OS you can dual mine another coin paired with etherium as far as I'm aware.
After this whole experience I consider myself somewhat "In thew know," lol. If you have any questions.. I hope I can help you.
So I will try to dual mine etherium and Sia coin and see if that generates any kind of decent profit margins.
I will keep it going if it's anywhere over 100$ net profit (why not)
I have a cool wireless power tracker built into my rigs surge protector so I know exactly how much energy it's consuming.
I will let you guys know how it goes, in the mean time. PLEASE HELP, or maybe that's just the way it is now :(
fabulous learning experience, please don't hesitate to ask questions today or ten years from now.. I'll be here!
Steem on! :)
(shows 35$ here but that's because I shut off my system for a little while [it's an average]).
For people spending thousands of dollars on these things my point is Do research before you buy I'm not an expert, this is just my experience but of course I wish everyone the best of luck and abundance.
Great Post Sir, I am planning also to build just a basic mining rig which also will be my Work PC with 2 1080 TI GPU. I am planning to mine in the background while I work using NiceHash as most of the time I do not turn off my PC. I would be very happy if it pays for itself in a couple of months.
Hey @vallesleoruther I think you are more likely looking at 4-5 months of operation before 1080 Ti's are paid off but sounds like an interesting venture nonetheless! Good luck with it. Definitely a good idea to diversify your income and generate some passive cash :)
Yes that is the goal haha. Thank you, followed you want to see more of your mining updates.
best mining but very costly .. We can buy low cost miner from bitman.com
Something is wrong or with ETH OS or Miner configuration! 35$ per month is NOT OK definitely even with just ONE OF THOSE!
VERY IMPORTANT STUFF! Can you access SpeedTest.net from ETH OS and post comment ?
I can certainly try.. I will get back to you for sure, I know it's extremely strange. Thank you!
Also, I almost forgotten. Since, EthOS claims they support NVIDIA, that doesn't necessarily means you're running your GPU with proper driver.
If it's possible in terminal/Konsole of EthOS type:
nvidia-smi
You can use pastebin for copy/paste output and just drop me link here. That command will show how many GPU's, current driver, etc.
Let me know ASAP please.
I can't tell you how big of a help it is that I even found you though this post, thank you so much.. I can't get to my miner tonight but I'll let you know first thing tom, no problem, and thank you again @murda-ra!
@astronautjon - Np, waiting for an update :)
Hey, so here is a link to my statistics I think if that helps: efe2bf.ethosdistro.com
And I typed in Nvidia-smi like you said and a little chart popped up saying among other things it was driver version 384.47
I did notice one other thing I don't know if this means anything but under one part of this chart is shows all 6 pus and the memory allocated to each: 5 of them say 9Mib and one says 37Mib a big difference, let me know what you think and thank you so much again!
I see on Nvidia's website there is a newer driver for the 1070 on linux.. 384.59 .. will this install onto ethos and do you think this is the problem by chance?
Hi whats the cheapest setup to start mining?
Doing it yourself for one but you see the trouble I'm running into here.. great learning process though. If I went back and did it again I spent 200$ on a metal chasis that was only a problem.. not enough space, needed risers for my motherboard etc.. just build something out of wood for cheap. Windows is also free on the Microsoft website. The highest cost thing you will need to buy are the graphics cards but in all honesty I would wait until AMD or NVIDIA release the cards designed specifically for mining.. supposed to be significantly higher hash rate and all importantly cheaper.. no set release date though. My 1070's I got from BH photo for 400 a pop approx. they consume less energy than most AMD cards but I would reccomend the 480X or 580X cheaper and most compatible with everything.. save yourself the trouble.. it's not worth the slight increase in hash rate.. hope that helps!
Cloud mining all the way for me. These are the sites I use!
All Free Gh/s.
I do not recommend you invest $$$ except in Eobot, more your time,
in and internally generated Gigahashes
Then cash out when you like the day returns!
Then send it over to Eobot to boost my account their.
Please use the links so i can gain a small amount of Gh/s for your referral.
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Thanks for this - I was looking at putting together a 6 or 8 gpu rig, not to get rich, just out of interest for a little project .... but .... I'd be pretty f*cking disapointed with those returns! Maybe I'll give it a miss or wait for the dedecated mining cards mentioned in one of the comments.