If you are wanting to get into Ethereum mining (or Zcash or Monero), you will most likely want to build your own mining rig. There are two basic steps to building a good Ethereum mining rig:
1) Choosing your components
2) Putting the system together
The time to completely build your mining rig varies, but it could take about a week or so to get the whole project finished, with another few days to get everything properly configured. Building a mining rig is essentially just building a computer, however there are several extra considerations to keep in mind, mostly in terms of the GPU.
A GPU, also called a graphics card, is an important part of an Ethereum mining rig. Just like gaming PCs, your mining rig will need to handle complex mathematical operations as efficiently as possible. This is why choosing the right GPU is very important.
Getting the right gear
The thing about building a good Ethereum mining rig is that it is not cheap. You will need a few components that are pretty pricey. Resist the urge to spend less money and buy a prebuilt computer, these will likely not have the type of hardware you need for a mining rig.
You will need to choose a motherboard, which is like the mining rigs brain. Or, the skull that holds the brain. The motherboard will be what all of your main components will be attached to, and allows them to work together. The motherboard you choose will determine what type of GPU your system will be compatible with, and how many GPUs your system can use at one time. This will ultimately determine your total hash rate. If you have 3 PCI express slots you can fit 3 Radeon HD 7950 GPUs, each having a 20 MH/s hash rate, giving a total hash rate of 60 MH/s. PCI Express slots are slots on the motherboard itself that components fit into. There are other types of slots available, but most GPUs are made to use PCI Express slots. A good recommendation for a mining GPU is the GA-Z97X Gaming 3 GPU.
Regardless, it is important to pick a good GPU. Some of them cost a lot but dont have the best hash power behind them, and some are more affordable but consume more energy. The idea is to find a good balance between power and power consumption while staying within your budget. You have to pick a good GPU. You can buy used GPU from places like GPU Shack, but be careful if you buy them from someone just trying to sell their GPU.
Another thing to pay attention to is how well your components will all fit together in the system. You may have enough slots to fit it all, but will they all fit in there together? This is largely a consideration of the motherboard as the space between slots is different on each motherboard. Although, you can buy a GPU riser that will help with this if you run into problems.
Another consideration is the hard drive that you install. The hard drive will contain your operating system and your software. It is recommended to use linux for your mining rigs OS.
A simple, no frills solid state drive will work fine. How much storage your hard drive should have depends on how you will mine. If you want to download the entire blockchain then you will need to take that into consideration, as blockchains are pretty big. If you are just planning on mining Ethereum in a pool then you don’t need to store the blockchain, and a smaller hard drive will work fine.
The amount of RAM, which is short for Random Access Memory, is important as well. RAM is used for temporary memory for running applications. You should be sure to have at least 4 GB of ram.
The power supply, or PSU one of the most important components and will directly affect your profit potential, just like your GPU will. It is important to consider how much power your system needs, how much power the PSU can provide and how efficiently it does so.
How much it costs per day to run your system in power consumption compared to how much your rig earns a day will determine your profit ratio.
If you have a lot of GPUs, like many of the 6 GPU mega rigs do, it may be worth using two PSUs.
Next, the case is an important consideration, and which case you choose will depend on whether or not you are using GPU risers. Having components on top of each other could lead your rig to catch fire.Or, you could have an open air system or build your own case.
Once you have all of your components, all that is left is to put it all together and install your operating system. As you can see, it isn’t difficult, just a bit expensive.
If you need help simply ask to us in the comment area, we will help you!
Best Cloud Mining Companies
Everyone wants to join the cryptocurrency bandwagon, and a huge proportion of cryptocurrency enthusiasts are interested in mining and earning profits through it. However, the fact that it requires some technical knowledge, constant upgrading of hardware and software, and looking for newer and better ways to manage the process discourages a lot of people.
If you belong to this category but want to earn profits through mining anyway, then cloud mining is an option worth looking into. Cloud mining companies rent out mining capabilities to companies. You don’t have to pay for the hardware, software, electricity, cooling, space, etc. All you do is rent the service for a fee and get a steady flow of bitcoins in your wallet. But it is a minefield full of fraudsters, so you have to tread carefully.
Best Cloud Mining Companies
Started in 2013 by a team of mathematicians and engineers, Genesis mining is the largest scale multi-algorithm cloud mining service. It allows you to choose from a variety of contracts which can help you earn cryptocurrency coins regularly. Genesis doesn’t let you purchase an exact quantity of GH/s. Instead, it offers packages that include particular quantities of GH/s for a fixed price. There are also discounts and promotions from time to time to allow you to get better deals on your contracts. The maintenance fee comes up to about $0.00028 per GH/s per day.
Eobot is one of the best and cheapest cloud mining services you will find on the internet. They offer a service that allows you to earn bitcoins at minimal cost. If you want, you can also use their own mining software on your system for free, although it isn’t quite as likely to earn you a decent amount of bitcoins. Nevertheless, Eobot offers a service that is pocket-friendly, efficient, reliable, and flexible. Contracts can be of any duration from 24 hours to 5 years. Eobot has a maintenance fee of $0.00021 per GH/s per day.
Hashflare is another top cloud mining company. It not only provides a cheap service but also frees users from contract duration limits. You can choose the length of your contract yourself. There is no limit to it. A maintenance fee of $0.00035 per 10 GH/s per day and a quick setup allow you to start seeing coins in your wallet in as little as the first 24 hours.
While most cloud mining companies help users start small, Hashing 24 allows you to start off in the fourth-gear and aim for the stars from the word go. The cost of contracts are slightly higher, but you get much more GH/s than other cloud mining companies. There is also a restriction on the minimum GH/s you can buy, with a minimum threshold of 100. The 100 GH/s costs you around $18.68 along with a maintenance fee of $0.00033 per GH/s per day. Contracts with Hashing 24 partners are canceled whenever the mining service cannot cover the daily running cost for three days on the trot. This helps you partner with able people all the time, allowing you to get profits from the money you spent sooner.
MingerGate is another cloud mining service which you can use. While it is more popular for its mining pool and GUI, the cloud mining service isn’t as efficient as you would think. The minimum number of GH/s you have to buy is 20, and you can only pay through Bitcoin. Their cloud mining service is in partnership with Hashing 24, but it cannot match the level of competence and efficiency that Hashing 24 provides to its users. Just like Hashing 24, contracts are canceled if the mining service cannot cover running cost for three consecutive days.
Cloud mining services are attractive for those who wish to earn bitcoins regularly but don’t have knowledge of mining and its technical aspects and don’t want to spend time learning it either. There is a great danger of falling for a fraudulent company in this business. You should also always look for hidden costs like maintenance fees which many services don’t mention up front. If you are not too careful, you might end up paying for the bitcoins you get in your account rather than earn profits.
Crypto Mining With a Raspberry Pi? Profitable!
As we all know, Bitcoin has a scaling mining difficulty. In the beginning, you could mine it even with your old, trash 2004 machine, but now, it requires specialized hardware – ASICs. With altcoins, the deal is very similar. However, the difficulty remains much, much lower, and profitable mining operations with a mid-tier, modern GPU aren’t uncommon. Miners can also purchase dedicated mining GPU’s such as the Antminer G1 and G2 series.
What is Raspberry Pi, And How Can I Use it for Mining?
Raspberry Pi is a platform for embedded applications. Generally, low resource software, not very tasking on the hardware. Thus, the specs of a Pi aren’t too impressive. We’d think that in this case, mining with such a device could only net losses, unless we had years of free electricity. This is not the case.
A Raspberry Pi 3 can profitably mine Magicoin. A tech blogger NovaSpirit proves this in his YouTube video.
Once it was running, he was able to generate $0.20-$0.25 (USD equivalent) per day. Further, staking with Magicoin means that will eventually start to vest interest which will increase that revenue a bit further. It’s worth considering if you’ve got a spare Raspberry Pi collecting dust between projects.
New NVidia Card Possesses Unbelievable Power
NVidia’s month old Volta GPU architecture has finally seen usage in the newest Tesla V100 GPU. It’s not a gaming product, but one for supercomputers, simulations, AI and deep learning. It could possibly be used for cryptocurrency mining, too. AMD with their newest Vega line seem to be behind NVidia’s Tesla. Why?
NVidia’s Tesla Has Outrageous Levels of Performance
Compared to the previous generation, Pascal-based Tesla P100, the new V100 GPU has 12 times greater deep learning performance, with 120 TFLOPs of “DL training”. The P100 has “only” 10 TFLOPs. The Volta version has also a gargantuan memory bandwith – over 900GB per second! Again, from “just” 720GB/sec on the P100. NVLINK 2.0 throws the internal bandwith up from 160GB/sec to a huge 300GB/sec while having 10MB of L1 Cache (Pascal had only 1.3MB). The card received an unreal Geekbench score of 743,537, and the only card that can come close is the Pascal version, with 320,031 points.
AMD is extremely far behind, having nothing to compete with the monster that is NVidia’s Tesla. Until Radeon Instinct cards surface, AMD won’t be even coming close to the power of Tesla. Still, it is unlikely that the new AMD cards will outperform this top shelf product. As such, NVidia remains the king of the GPU market.
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